Digitized by the Internet Archive in 2017 with funding from University of Illinois Urbana-Champaign Alternates ■;:yS https ;//archive.org/details/reporttostockholOOcent UNIVERSITY OF ILLINOIS LIBRARY Class Book Volume EEPOET OF TilK /FF ;/ INVESTIGATING COMMITTEE fcmant Oiratral Eaitoair €o. TO THE STOCKHOLDERS, JULY 1, 1853. BOSTON: PRESS OF GEORGE C. RAND, No. 3 CORNHILL. 3^6 5, V \ T" i ucr '•\.VvcxTi V O REPORT. At a meeting of the Stockholders of the Vermont Central Railroad, held at Northfield, Vt., on the 5th day of May, 1852, it was Voted, “ That a Committee of three be appointed, with full powers to make and conduct, at the expense of this Corporation, a thorough exam- ination of all the transactions, contracts and money concerns of the Com- pany, and of the acts of those persons to whom its affairs have been entrusted ; and to this end to employ such means and to hire such assist- ance, as they may think necessary, and that all the books, papers, docu- ments and property of the Company be submitted and open to the inspection and examination of said Committee, at any and all times ; and that every officer and servant of this Company shall render such aid, assistance, and information to the Committee as shall be required ; and that said Com- mittee shall make and submit to the Stockholders a full statement of the result of this examination, and shall report, as far as is practicable, the true condition of the affairs of the Company, its prospects, and the causes to which this result is in their opinion attributable, and upon the measures to be adopted in future by this Company, in respect to its management and business — it being our intention that said examination and report may ensure the discovery of every thing that is faulty in the premises, and the disclosure of every thing that is true.” Voted, “ That Wm. Sohier, Wm. Raymond Lee and Isaac Hinckley be, and they hereby are, appointed the Committee under the preceding vote.” 20a>17 4 The Committee to whom the investigation of the affairs of the Vermont Central Railroad, was thus delegated, commenced their duties on the 11th of May, 1852 ; and from that time until the present, have been diligently employed in its discharge ; and they have, as they believe, at length acquired the information necessary for a full disclosure of all matters of interest to the Stockholders, indicated by this vote. The Committee are fully sensible that some impatience has been expressed at the length of time during which this report has been in preparation. But it will be recollected, that one of the principal objects in the minds of the Stockholders, which led to the appointment of this Committee, was to ascertain the fidelity with which the afiairs of the Corporation had been managed by its officers, with particular reference to the personal integrity with which the officers had respectively executed the trust reposed in them. This was a delicate task, and the Committee felt it to be incumbent upon them to proceed upon this branch of their investigation with especial care and prudence. Had it been possible, with a due regard to the responsibihties attached to their office, and to the known desire of the Stockholders to obtain, at length, accurate information of the value of their investment, for the Committee to have abridged this time, or to have limited their inquiry to a smaller number of topics than are embraced by the vote, they would most gladly have done so. But this course the Committee did not feel at lib- erty to take ; and so numerous have been the difficulties in which they have been involved in their investigation, by the obscurity in the history of the road itself ; by the loss of a great many of the most important books and papers of the Company, which were destroyed by the several fires, at Windsor, West Alburg and Northfield ; by the intricacy of the financial operations of the Company, and by the want of system in the mode of keep- ing account books and vouchers ; and in some cases by the entire absence of any record evidence of transactions most important in their nature ; that upon a revision of their labors, the Committee are disposed to congratulate themselves upon finishing their work within this period, rather than to apologize for the consumption of so much time. The Committee determined, after an examination of such books and papers as remained in the several offices of the Corporation, that it would be necessary entirely to reconstruct the accounts of the Company from original sources, in order to present any reliable balance sheet exhibiting its condi- tion and the result of its financial operations. An advantage, however, has resulted to the Stockholders from the length of time devoted to this examination ; for it has enabled the Committee to extend their investigation as far as the first of July in the present year, which has afforded them facilities for estimating the business and resources of the road, and its future prospects, they could never have obtained, had they been originally limited in their inquiry to the business of past years. During this period, also, many events have occurred highly import- ant to the interests of the road, and which have given the Committee better opportunity to judge of the past management of the Corporation, than they had been able to derive from any other source. The Committee have, for their convenience, classified the subjects of investigation under this vote, as follows : — FIRST. The general history of the Vermont Central Railroad, from the time its Charter was granted to its completion, including its location. SECOND. The Vermont and Canada Railroad: its location; its connection with the Central ; the Lease under which ' the Central now holds it ; and to what extent the latter has furnished the money required to build this road, and how far and in what manner these advances have been repaid. THIRD. The capital and funded debts of the Vermont Central Railroad, and herein : — A. Its Capital Stock : the par value of the various issues of its Stock, and how far this Stock has been paid for. B. Its Bonds ; their respective issues ; the mode in which they have been disposed of, and the prices realized from the same. FOURTH. The construction of the Vermont Central Railroad and the principal contracts of the Corporation relating thereto ; the cost of the road, and of its equipment, and their present value ; the losses chargeable to this head, and herein : — A. The loss sustained through S. F. Belknap. B. The loss sustained through Josiah Quincy, Jr. FIFTH. The mode in which the accounts and records of the Company have been kept. SIXTH. The business connection of the several officers of the Vermont Central Railroad with the Corporation, and their conduct in office. SEVENTH. The assignment of the Vermont Central Railroad, and the Vermont and Canada Railroad, to the Trustees of the first Mortgage Bonds ; the reasons for this assignment ; and the chancery proceedings insti- tuted by the Vermont Central Railroad for the re-delivery of the roads. EIGHTH. The assets of the Vermont Central Railroad ; their present value. NINTH. The liabilities of the Company other than its funded debt. TENTH. The earnings from traffic upon the Vermont Central and the Vermont and Canada ; and the expenditures incident upon working these Roads. ELEVENTH. The future prospects of the Vermont Central and Vermont and Canada Railroads ; and their capacity for business. 7 FIRST. The G-eneral History of the Vermont Central Railroad^ from the time its Charter was granted to its completion^ including its location. This road was incorporated by the Legislature of Vermont, on the 31st of October, 1843, under a Charter granting large and extensive powers, as follows : AN ACT TO INCORPORATE THE VERMONT CENTRAL RAILROAD COMPANY. It is hereby enacted by the General Assembly of the State of Vermont, as follows : Sec. 1. Such persons as shall hereafter become Stockholders of said Company, are constituted a Body Corporate by the name of the Vermont Central Railroad Company, for the purpose, and with the right of building a railroad, with a single or double track, from some point on the eastern shore of Lake Champlain, thence up the valley of Onion River, and ex- tending to a point on Connecticut, most convenient to meet a railroad, either from Concord, New Hampshire, or Fitchburg, Massachusetts, to said river ; to transport and carry persons and property upon the same, by the power of steam or otherwise, as said Company may direct ; and by that name they and their successors may construct and build a railroad, with a single or double track, for the purpose aforesaid ; and by their cor- porate name, may sue and be sued, and may have a common seal. Sec. 2. If said Corporation shall not, within five years, complete the survey of said road, and within seven years from the passage of this act construct and finish and put in operation, one fourth part of said road, and within ten years from the passage of this act, construct and put in opera- tion one-half of said road, and shall not within twelve years from the pass- ing of this act, complete and put in operation the whole of said road, then the rights and powers, granted by this act, shall cease for such parts of said road as shall not be completed within the several periods aforesaid. 8 but shall be valid for such parts of said railroad as shall be completed within the said periods respectively. Sec. 3. The Capital Stock of said Company shall be one million of dollars, which shall be divided into Shares of one hundred dollars each, and said Company may increase said capital to such amount as shall be necessary to complete said road, and to furnish such carriages, and all other appurtenances, for the convenient and profitable use of said road, and such additional capital shall also be divided into shares of one hun- dred dollars each. The Shares in said Company shall be deemed personal property, and may be transferred in such manner as said Company shall by their By-Laws direct ; and when any share or shares shall be attached on any process, the officer serving the same shall leave with the Clerk of said Company an attested copy of such process, with his return thereon, and such share or shares may be taken and sold on execution, in the same manner as other personal estate ; the purchaser causing an at- tested copy of said execution, and the officer’s return thereon, to be left with the Clerk of said Company, within twenty days aftp said sale, and paying for the recording of the same, all the right of the Stockholder, for whose debt the same was sold, shall pass to the purchaser of such share or shares. When any officer, duly authorized, shall appear at the office of the Clerk of said Company, for the purpose of attaching any share or shares in said Company, or for the purpose of levying execution thereon, the Clerk shall produce to such officer the books of said Company, so far as to enable such officer to ascertain the number of Shares owmed by the debtor, and shall give such officer a certificate, in his official capacity, of the number of Shares owned by such debtor, with the dividends due thereon, and all liens of said Company on such Share or Shares. Sec. 4. Charles Paine, John Peck, Wyllys Lyman, Daniel Baldwin, E. P. Jewett, Andrew Tracy, and Levi B. Vilas, shall be Commissioners, who shall, within one year, at some suitable places in Montpelier and Bur- lington, and at such other places as they may deem proper, open books for subscriptions to the Capital Stock of said Company ; and said Commissioners shall give at least ten days notice of the time and places of opening said books, by publishing the same in one or more of the newspapers printed in 9 such places as they shall think proper ; and any two of the Commissioners shall constitute a Board for receiving subscriptions ; and ever}^ person, at the time of subscribing, shall pay to said Commissioners five dollars on each share for which he may subscribe, and each subscriber shall be a member of said Company ; and when one thousand Shares shall be subscribed, or as soon thereafter as the Commissioners shall deem proper, said Commis- sioners m*ay give a like notice for the meeting of the Stockholders, at such time and place as said Commissioners shall appoint, to choose seven Direc- tors ; and such election shall then be made by the Stockholders, who shall attend for that purpose, either in person or by proxy ; each Share of said Stock shall entitle a Stockholder to one vote ; said Commissioners shall be inspectors of the first election of Directors, and shall certify the names of those duly elected, and deliver to such Directors the books of subscription, and all sums of money deposited with them on all Shares subscribed as aforesaid ; the time and place for the first meeting of such Directors shall be fixed by said Commissioners ; a new election shall be made annually, at such time and place as the Board of Directors shall appoint, giving thirty days notice thereof, by publication in the newspapers printed at Montpelier, and such other papers as they may deem proper. Said Directors may appoint an Engineer or Engineers, and cause such examinations and surveys to be made, as may be necessary to enable them to determine upon the best line or route for said road, between the two points or terminations before mentioned ; and said Directors, or a major part of them, after such exami- nations and surveys shall be made, by certificate under their hands and seals, shall designate the line or route which they shall deem the most ad- vantageous for said road, through each town, which certificates shall be re- corded in the office of the town clerk of each town through which said road shall pass ; which line or route so designated and certified, shall be the line or route on which said Company shalk^onstruct and make their single or double track, as hereinafter mentioned ; the expenses of such examinations and sur- veys, and all other expenses relating thereto, shall be paid by said Corporation. ( Sec. 5. The Directors chosen at the meeting aforesaid, or at the an- nual election, as soon as may be after every election, shall choose out of their number a President, who shall preside at all meetings of the Board of 10 Directors and of the Stockholders ; and in case of the death or resignation of the President or any director, such vacancy may be filled for the re- mainder of the year, by the Board of Directors ; and in case of the absence of the President, the Board of Directors may appoint one of their number President ^yro tempore^ who shall exercise such powers as the By- Laws of said Company shall prescribe. Sec. 6 . In case an election of Directors should not be made on any day as provided in this act, said Company shall not thereby be dissolved, but such election may be made at any other time, directed by the By-Laws of said Company. Sec. 7. Four Directors shall form a Board, who shall be competent to transact all the business of said Company ; make and prescribe such By- Laws and regulations as shall be necessary for the management of the Cap- ital Stock, and all other property of said Company, the transfer of Shares, the duties of the ofiicers and servants of the said Company, the election of Directors, and all other matters relating to the business of said Company ; they may also appoint a Clerk or Secretary, and Treasurer, and fix their salaries, and the salary of the President. Said Corporation, by their offi- cers or servants, may enter upon such line or route, so to be designated as aforesaid for said road, to lay out said road, not exceeding six rods in width through the whole length of said line or route ; and said Company may enter upon, take possession and use all such lands and real estate, as may be necessary for the construction of said railroad, and the accommodation requisite and appertaining to the same ; and may take and hold all such grants and donations of land and real estate, as may be made to said Com- pany, to aid in the construction, maintenance and accommodation of said road. Provided, that all lands, or other real estate, thus entered upon and used by said Company, which have not been granted or given to said Com- pany, shall be purchased by said Company from the owners of the same ; and in case of disagreement about the price of such lands, and before the making of any portion of the road thereon, any two of the Judges of the Supreme Court, upon application for that purpose by said Company, shall appoint three disinterested Commissioners, to determine the damages which 11 the owner or owners of such lands or real estate may have sustained, or shall be likely to sustain, by the occupation of the same for the purposes aforesaid, and upon the payment of the damages determined upon by such Commissioners, with the costs and charges thereupon accruing, by said Com- pany, or upon said Company depositing, in such bank as said Commissioners shall direct, the amount of such damages, with the cost and charges afore- said, to the credit of the person or persons to whom such damages and costs have been awarded by said Commissioners, such bank giving notice personally or by letter through the post office, to such person or persons, that such deposit has been made by said Company, said Company shall be deemed to be seized and possessed of all such lands or real estate as shall have been appraised by said Commissioners. Said Commissioners shall give three days’ notice to the occupants or owners of the lands to be appraised, of the time and place when and where they will attend to such appraisal, and when such appraisal is made, they shall deliver to said Com- pany a written statement of the same, with a description of the land or real estate so by them appraised, which, within sixty days thereafter, said Company shall cause to be recorded in the town clerk’s office of the town where such lands or real estate lie ; and in case the owner of lands or real estate, taken by said Company, shall be a married woman, an infant, idiot or insane, or shall not reside in the state, then said Company shall cause the damages, sustained by such owners, to be determined in the manner above prescribed, and shall pay the same to the owners last above men- tioned, when the same shall be lawfully demanded, with the interest thereon at the rate of six per cent, per annum, which said damages and the inter- est thereon, shall be a specific lien upon the real estate of said Company, and shall be preferred before any other demand against said Company ; no application shall be made to said Commissioners to determine damages which may be sustained, unless made within three years from the time of taking said land. Sec. 8. Should the Company, or the owner of any land or materials, feel aggrieved by the decision of the Commissioners, either party may, within ninety da^ s after the making of such decision, appeal to the County Court, in the county where such land or other real estate lies ; and the decision of such court shall be final, and said court shall tax cost for either partv, as shall be just and equitable. 12 Provided, that to settle the damages which the construction of said road, through the valley of Onion River, may cause to the Winooski Turnpike Company, the Supreme Court, on application, shall appoint a disinterested Committee, who, after giving notice to the Treasurers of both Companies of the time they will attend to the duties of their appointment, shall, upon examining the Charter, books and road of said Turnpike Company, appraise said turnpike road and the chartered privileges of said Company, without reference to the cost of the same or the privileges granted by this Act, at such sum, not exceeding eighteen thousand dollars, as they shall think the same to be worth in cash, and deliver a certificate of their appraisal to the Treasurer of said Turnpike Company, and also to the Treasurer of said Railroad Company, which appraisal said Railroad Company shall cause to be made before laying their rails in any part of the Valley of Onion River. And said Railroad Company shall pay to the several Share-holders in said Turnpike Company, who shall deliver to the Treasurer of said Railroad Com- pany an assignment of their shares in said Turnpike Company, such proportion of said appraised value of said Turnpike Company’s property and privileges to which they may be respectively entitled, according to the number of Shares owned by each when measured by the wRole number of Shares in said Company. And said Railroad Company may hold said Shares so assigned, and vote on the same by their Treasurer, at all meetings of said Turnpike Company, or sell the same at pleasure. And on complying with this pro- vision, said Railroad Company shall not be subject to any damages or liabil- ties to said Turnpike Company, excepting such as are provided for in sec- tion ten of this Act. Sec. 9. Said Company may construct and use one or more tracks of proper width, as they shall determine, on the route designated by the Direc- tors as aforesaid, and may regulate the time and manner in which passen- gers and property shall be transported on the same, and may erect and maintain toll-houses and other buildings for their accommodation, as they may deem suitable. Sec. 10. When it shall be necessary in the construction of said road to cross any stream of water, water-course, road or way, intersecting said railroad route or line, said Company may construct said railroad across or upon the same, provided said Company shall restore the stream, water- 13 course, road or waj, thus intersected, as near as practicable to its former state and usefulness, to the acceptance of the Selectmen of the town where the same is situated, or in case of their refusal, to the acceptance of the Commissioners to be appointed agreeably to the provisions of section seven of this Act. Provided, that nothing in this Act shall be so construed as to prevent the crossing of said railroad with teams or otherwise, in such man- ner as not to injure the same. Sec. 11. Said Company may, from time to time, fix, regulate and receive toll and charges for the transportation of passengers and property upon said road. Provided that the Supreme Court, at any stated session holden in the county of Washington, on the application of ten freeholders in any town or towns through which said railroad may pass, may alter or establish the rate of toll upon said road, for a term of time not exceeding ten years, at any one time, in such manner that said Company shall not receive less than twelve per centum per annum on the Capital Stock, over and above all charges and expenses of said Company. Sec. 12. If any person shall wilfully do, or cause to be done, anv act, whereby any building, engine, machine work, or anything appertaining to said road, shall be injured, obstructed, stopped, or destroyed, such person shall forfeit and pay to said Company double the amount of damages sus- tained by means of such offence, to be recovered in the name of said Com- pany, with costs, by an action of debt, and shall also be liable to indict- ment by the Grand Jury of the County where said offence shall have been committed, and be punished as for a misdemeanor. Sec. 13. The Directors of said Company may require the payment of the sums subscribed to the Capital Stock, in such proportions and at such times as they shall deem best, not exceeding ten dollars at one time, and one hundred dollars upon any one Share, under the penalty of forfeiture of all previous payments thereon ; and when said Directors shall require the payment of any portion of the Capital Stock of said company, they shall give at least thirty days notice of the time and place of such payment, by pub- lishing the same in such newspapers, printed at Montpelier, and at such other places, as they shall deem proper. 14 Sec. 14. The office of Secretary or Clerk of said Company, shall be kept in this State, in some town through which said road shall pass. Sec. 15. If the Directors of said Company shall at any time deem it expedient to change the location of said road by reason of damages sus- tained by freshets, or for any other cause, they may change the location of such parts of said road as they shall deem proper, always complying with the provisions of this Act in relation to the examination, surveys, and desig- nation of the line or route and construction of said road. Sec. 16. Said Company may, by their Engineers, Agents or workmen, with such teams, and carriages, and tools as they may find convenient, enter upon any lands contiguous to said railroad, or the works connected therewith, to dig, blast, and carry away and use, such stone, gravel, earth and other materials, as maybe necessary for building or reparing said road, doing as little damage thereby as the nature of the case will permit ; and in case damage shall be claimed by the owner of land thus entered upon, and for the stone, gravel and other materials carried away as aforesaid, and the owner and said Company do not agree upon the sum to be paid therefor, the same shall be assessed by Commissioners, in the manner before prescribed in this act ; and all persons aggrieved by any decision of said Commissioners, shall have the right to appeal as herein before provided. Sec. 17. The Stock, property and effects of said Company shall be exempt from all taxes levied by or under the authority of this State. Pro- vided, that if at the expiration of ten years next after the completion of said road, the nett income from tolls or other profits (taking the said ten years as the basis of calculation,) shall have amounted to more than ten per centum per annum upon the cost of construction, the Legislature may reduce the rates of toll and other profits, in such manner as to take off the surplus for the next ten years, calculating the amount of transportation upon said road to be the same as the ten preceeding years ; and at the end of every ten years thereafter, the same proceedings may be had ; or instead of so reducing the tolls on such basis, the Legislature may require said Company to pay into the treasury of the State any surplus, provided the Legislature shall not at any time so reduce the tolls or other profits as 15 to prevent the Stockholders from receiving ten per centum per annum upon the cost of said road ; and provided also, that the Legislature may, after the expiration of twenty years from the opening of said road herein pro- vided, purchase of said Company said railroad, and all franchises, prop- erty, rights and privileges thereto belonging, on paying therefor the amount expended in making said road, the expenses of repairs, with all other expenses incurred about the same, with ten per cent, interest thereon, deducting all sums received by said Company from tolls or other sources of profit, with ten per cent, interest thereon, received by the Stock- holders. Sec. 18. This Act shall be taken and deemed to be a public Act, and shall be construed favorably and beneficially for all the purposes for which the same is enacted. Sec. 19. The Directors of said Company shall, annually, on or before the third Thursday of October, make a report to the Legislature, of their proceedings, receipts and expenditures, and their books shall at all times be open to the inspection of a Committee of the Legislature appointed for that purpose. Sec. 20. Nothing in this Act shall authorize said Company to construct a railroad in the Valley of Connecticut river, so as to interfere with any railroad that may hereafter be authorized to be made in said Valley. Approved Oct. 31, 1843. Previous to this, in 1835, a Charter had been obtained to construct a railroad under the name of the Vermont Central Railroad, but this charter appears to have been forfeited for non-compliance with its provisions, and to have no relation whatever to the present Corporation. By the records of the present Company, it appears that the Board of Directors chosen by the Stockholders, met at Montpelier, on the 23d of July, 1845, and elected Charles Paine, of Northfield, as President, and S. H. Walley Jr., of Roxbury, Mass., as Treasurer. At this time, the Board 16 received from the Commissioners named in the Charter, the books of sub- scription to the Stock of the Corporation ; and it appears from the Records of the Directors, that they then received from the hands of the Commis- sioners the money previously paid in by subscribers to the Stock. At this meeting it was voted to increase the Capital Stock from one mil- lion of dollars, which had already been subscribed, to three millions of dollars ; and to receive subscriptions of Stock in Shares of $100 each, until this sum of $3,000,000 had been subscribed. An assessment of five dollars was then laid upon the Shares on which five dollars had not already been assessed. Samuel M. Felton, of Charlestown, Mass., was appointed, at this meet- ing, Chief Engineer of the road. Various other acts, to which it is unne- cessary here to call especial attention, were done, at that time, to con- form with the requisitions of the Charter. At a subsequent meeting, on the 28th of August, 1845, the Directors adopted the following By-Laws : — BY-LAWS OF THE VERMONT CENTRAL RAILROAD ‘ COMPANY. ANNUAL MEETING OF THE STOCKHOLDERS. 1. There shall be a stated meeting of the Stockholders of the Company on the third Wednesday of July, annually, at such place and such time of that day as the Directors shall determine, at which the President and Clerk of the Board of Directors shall ofiiciate as President and Clerk of the Corporation ; and in case of the absence of either, the vacancy shall be filled, for the time being, by the Directors or Stockholders. At such stated meeting there shall be elected by ballot, from the Stockholders, seven Directors, each of whom shall hold his office until others are elected, or until he ceases to be a Stockholder : and in case of a failure to elect, special meetings shall be called, in the mode provided in Article 2, until an election shall have been made. # 17 NOTICE OF ANNUAL AND SPECIAL MEETINGS. 2. Notice shall be given, by the President or Clerk, of the time, place, and object of the annual meeting, by publication, at least thirty days before the time appointed, in the newspapers printed at Montpelier, and such other papers as the Directors shall order. Special meetings of the Stockholders shall be called in the same manner, on ten days’ notice, whenever the Directors shall deem necessary ;-and also, whenever any ten or more Stockholders, representing at least two hundred thousand dollars of the Capital Stock of the Company, shall, in writing, require it of the President and Clerk. OFFICERS OF THE COMPANY. 3. The Directors shall choose a President and a Clerk of their Board, who shall also be President and Clerk of the Company, a Treasurer of the Company, and such other officers or agents as may be necessary, who shall hold their offices for the term of one year, and until others are elected. Excepting in case of death, resignation, or removal, in which case the vacancy shall be filled by the Board of Directors. OF DIRECTORS. 4. The Board shall hold stated Quarterly Meetings on the third Thursday of every month of January, April, July, and October, at such places as the President, or, in his absence, two Directors shall determine ; and ad- journed meetings at such time and place as the Directors present shall order, in case a quorum'does not attend the stated or any other meeting. Special meetings may be called at any time and place by the President, or by any two Directors, of which notice shall be given to each Director by the Clerk, or, in case of his absence, sickness or delay, by the President or any two Directors. Not less than four Directors shall constitute a quorum ; and in case of a quorum, all the powers conferred upon the Board of Directors by the Charter, and by the Stockholders, may be exercised by a majority of those present ; provided^ that to fill any vacancy in the Board, the consent of two thirds of the Directors remaining in office shall be required ; but until such vacancy shall be supplied, the remaining Directors may exercise all 3 18 the powers of a full Board, if a quorum is present ; 'provided, also, that a majority of the whole number of Directors prescribed by the Charter, shall be required to designate the line or route of the road. The President and any two members of the Board shall constitute an Executive Committee, to do all things required for the interest of the Com- pany in the interim between the meetings of the Board, subject to the approval of the Board at its first meeting, to which the Committee shall report in writing. A Committee of two Directors shall be appointed to examine and audit the accounts of the President, Treasurer, and Engineer or Engineers, and Superintendent, at least once a month, and report to the Board at their Quarterly Meetings. No sale or conveyance of any property of the Company shall be made, until expressly authorized by a vote of the Board. Whenever a Committee shall be appointed by the Board, the Clerk shall transmit a transcript of the business referred to the Chairman, who shall call the Committee together, and their report shall be made in writing to the Board. No business shall be done at any meeting of the Board until the record of the preceding meeting has been read and approved : and at the close of each meeting, the minutes of the Clerk shall be read. OF THE PRESIDENT. 5. In addition to the duty of presiding at the meetings of the Company and of the Board, the President shall have the general supervision of the affairs, officers, and agents of the Company, and may at any time call the Executive Committee or any member of the Board to his aid : he may draw orders upon the Treasurer for debts due from the Company, subject to the approval of any two members of the Board, and report his proceedings in writing to the Board at each meeting, and make such suggestions as in his opinion the interests of the Company may demand. OF THE CLERK. 6. The Clerk shall be sworn to the faithful discharge of his duties by a Justice of the Peace, or other magistrate, and his oath shall be entered upon the record of the Directors, with the signature of the magistrate : he shall 19 attend all meetings of the Company and Directors, and keep records of their proceedings in separate books, and shall perform all the duties required by the Charter and the By-Laws. In his absence a Clerk pro tempore shall be appointed by the Directors, who shall be sworn, and perform all the duties of the Clerk for the time being. OF THE TREASURER. 7. The Treasurer shall give bonds to the Corporation, with sureties, to the satisfaction of the Directors, in the penal sum of not less than thirty thousand dollars for the faithful discharge of his trust, to be lodged with the President of the Company. He shall have an office in such place as the Directors shall determine, accessible to all persons having business with the Corporation, and to its officers and agents ; shall keep all deeds, promissory notes, and valuable papers of the Company, shall collect all assessments and money due the Company, and disburse the same as the Board of Directors shall order ; surrender notes or promissory papers on payment thereof, and discharge mortgages concerning the same ; and keep books containing the accounts of the Company, and of all its funds that may pass through his hands. He shall lay before the Directors at each stated meeting a written statement of all notes, drafts, promises, and contracts made, signed, endorsed, or surrendered by him since their last stated meeting ; of all money received and expended ; of all property bought and sold, and all other matters which he or the Board of Directors may deem important. He shall make a complete settlement of the accounts and books annually, and as much oftener as the Board of Directors shall require, and shall advise what dividends of profits may be made. He shall assist in the preparation of the annual report of the Directors to the Legis- lature of their proceedings, receipts and expenditures ; and shall make an annual report of the state of the Treasury, including a schedule of debts due from the Company to the Stockholders at their stated meeting. He shall deposit to his credit, as Treasurer of the Company, in such bank or banks as the Board of Directors may select, all money received by him. He shall issue Certificates of Stock to all persons entitled thereto, and keep books showing the number of Shares held by the respective Stockholders, and the dividends due : and shall perform all other duties which the Direc- tors may reasonably require. 20 OF ENGINEERS. 8. The Engineer or Engineers shall lay out the road, and construct the same in all respects pursuant to the instructions of the Board of Directors ; shall deliver, to the Board, at each stated meeting, written estimates and reports concerning the construction and use of the road, and all things relating thereto, with all his or their proceedings, and shall faithfully per- form all other duties of the office assigned by the Board of Directors. The Chief Engineers may make requisitions upon the Treasurer, by Drafts, for debts due, for work done for the Company ; wffiich Drafts, when approved by the President, shall be paid by the Treasurer. SEAL. 9. The seal of the Company shall be kept by the Treasurer, and shall be in form following, viz : the Corporate name of the Company on the outer circle, with the initials in cipher, in the centre, and 1843 beneath. ASSESSMENTS. 10. Wlienever the Board of Directors shall have ordered an assessment on the Shares of the Corporation, the Treasurer shall give notice of the same, and of the time and place payable, in such newspapers printed at Mont- pelier, and at such other places as the Directors may order, at least thirty days before the day fixed for the payment thereof. STOCK CERTIFICATE. 11. Each Stockholder shall be entitled to a Certificate of his Stock, when paid in full, signed by the President, countersigned by the Treasurer, and authenticated by the seal of the Company : and the Certificate shall be in the form following: No. Vermont Central Railroad Company. Shares. ^ Be it known, that the proprietor of Shares in the Capital Stock of the Vermont Central 21 Railroad Company, which transferable only on the boohs of the Com- pany by or attorney, on surrender of this Certificate. In witness whereof, the President and Treasurer have hereunto set their hands and affixed the seal of the Company this day of 18 [L. S.] President. Treasurer. TRANSFERS. 12. All transfers of Shares shall be in the form following : — Vermont Central Railroad Company. Shares. No. For value received, the undersigned transfers to Shares in the Capital Stock of the Vermont Central Railroad Company, sub- ject to legal assessments, and to the By-Laws of the Corporation.' Dollars paid on each Share : old Certificate No. Received Certificate No. according to the above transfer. Boston, 18 And shall be recorded by the Treasurer in books to be kept in his office, or by some person duly authorized, in books to be kept at such other places as the Directors may designate. On the receipt of such transfer, and of the original Certificate, a new Certificate or Certificates shah be issued to the person entitled to the same : and receipts shall be given to the Treas- urer for all Stock Certificates received of him. NOTES. 13. Every promissory note made in behalf of the Company, shall be signed by the Treasurer, after having been approved by two Directors. 22 DEEDS, &C. 14. All deeds, conveyances, mortgages and leases shall be executed and acknowledged by the President, countersigned by the Treasurer, and authenticated by the seal of the Company. ALTERATIONS. These By-Laws shall not be altered or amended except at a meeting of the Directors, notice having been previously given to each Director that alterations will be proposed to the By-Laws at said meeting ; and with the assent of a majority of the whole Board of Directors. At a meeting held November, 1851, it was Voted, that hereafter no note or obligation of the Company, (with the exception of the President’s drafts on the Treasurer, or the mortgage bonds) be issued by the Treasurer until the same is approved on its face by one or more members of the Finance Committee. These By-Laws continue in force until the present day, with no material alterations, excepting that the 13th (relating to the issue of promissory notes, which, under this By-Law were to be signed by the Treasurer, and approved by two Directors,) was repealed on the 30th August, 1849, at the time Mr. Josiah Quincy, Jr., as Treasurer, entered upon the duties of his office, to which he had been previously elected. It was then Voted, “ That the thirteenth By-Law be, and is hereby repealed.” And also Voted, ‘‘ That any notes and drafts signed, endorsed or accepted by Josiah Quincy, Jr., as Treasurer, shall be binding upon this Company.” These votes, however, were, in effect, repealed by a vote of the Directors passed November 15, 1851, as follows: — ‘‘ Voted, That hereafter no note or obligation of the Company (with the exception of the President’s drafts on the Treasurer, or the mortgage bonds,) be issued by the Treasurer, until the same is approved, on its face, by one or more members of the finance committee.” At the meeting of the Directors, on the 28th of August, 1845, before referred to, a Committee was appointed with full powers to make surveys of the road between Burlington and the Canada line. At a subsequent 28 meeting held on the next day, the Directors authorized the Executive Com- mittee to contract for engines, cars, and iron rails. From time to time various acts were done by the Directors to locate their road within the limits prescribed by the Charter. Subsequently, on the 3d of November, 1845, a “ public meeting ” was held at Montpelier to obtain information relative to the “ Northfield ” and “ Gulf’’ routes, so called, which resulted in the decision, to have a survey made of each route, with an estimate of the cost of adopting the same ; and it was then voted by the Directors, that in case they should be unable unanimously to agree upon the selection of either route, another “ public meeting” should be held, and “ the whole matter subjected to the scrutiny of all parties interested” ; which proceeding on the part of the Directors “ was voted unanimously by the persons present, on the motion of Thomas Read, Esq., of Montpelier, to be to them satisfactory.” At a subsequent meeting of the Directors, held on the 6th of the same November, Mr. Felton, the Engineer of the road, and six of the resident Engineers (Messrs. Brown, Chase, Beckwith, Campbell, Chesborough, and Dana,) made reports upon the respective advantages of these two routes. Whereupon a motion was made to locate the road through Northfield : Messrs. Paine, Baldwin, and Langdon declined to vote on this question, as being interested parties ; this act on their part, leaving the Board without a quorum, the motion was withdrawn. It was then voted to refer certain proposals which had been made meantime for the grading of the road to Messrs. Lewis, Foster, and Felton, with instructions “ to obtain all necessary information for the future action of the road in relation thereto.” The subject of the Northfield and Gulf routes occupied, for some time, the earnest attention of the Directors : their inquiries seem to have been made, with a desire to arrive at a true estimate of the merits of each ; and at a meeting held in Boston, January 16, 1846, the Chief Engineer, Mr. Felton, made a report of his re-survey of these routes ; (which had been ordered meanwhile,) and a Committee of the Stockholders and citizens of Montpelier and its vicinity, were heard, at their request, in relation to the location of the road through their town. This report of Mr. Felton was printed in pamphlet form, and copies of it were, at or about the time of its publication, distributed among the Stockholders. 24 On the ITth of the same January, the location of the road from the mouth of the Dog River, on the north side of the Winooski River, was decided upon, subject to a modification, which, if adopted, might carry the road through the town of Montpelier ; and at the same meeting, the report of the Chief Engineer of his re-survey of the Northfield and Gulf routes, before alluded to, was finally acted upon and. adopted ; which action the Committee consider to have been final on the subject. The entry in the Directors’ records being to the elfect that ‘‘ The board resumed considera- tion of the Report yesterday, made by the Chief Engineer, on the re-surveys of the Gulf and Northfield routes ; whereupon said Report was accepted and adopted.” At the same meeting, the President, subsequent to the adoption of this Report, submitted to the Board an application personally made to him on the 31st day of December, by two Directors, “that one of the Sub-Engineers and liis party should be placed under their direction, for the purpose of surveying the Gulf route,” together with his reply of the same date, declining to accede to this request, and the Board approved this reply on the part of their President. On the 16th April, 1846, the Chief Engineer made a report in reference to the lines of the road surveyed into Montpelier ; and at a meeting held at this time, it Avas voted by the Directors, “ that that part of the line of the road located into Montpelier be adhered to,” but no connection appears to exist between this location and the “ Gulf route ” so called. On the con- trary, the location thus made into Montpelier is believed to be in continua- tion of the present route through Northfield, by a branch from the village of Berlin, although that fact does not appear upon the records. On the 16th November, 1846, the location of the road through Mont- pelier was again discussed, and the subject was then referred to the Presi- dent, with instructions to cause further surveys to be made between Montpelier and Scovell Bridge in Berlin. On the 4th June, 1847, it was voted at a meeting of the Directors, that, “ at the next meeting the location of the road into Montpelier should be determined,” but the only action in reference to this matter at the next meeting appears to be confined to an authority given the President to purchase certain land in Montpelier, for Depot purposes ; Avhilst a branch road was, in fact, at or about that time, located from Berlin to Montpelier, as has before been suggested. 25 The Committee have been particular in their inquiries in respect to these locations, as it is a topic to which the attention of the public has been particularly called ; and especially because the selection of the Northfield route has given rise to imputations of a personal character against the parties interested in the location finally adopted by the Company. Shortly after their appointment, the Committee personally examined the defile through the mountains, known as the “ Gulf route,” and from the character of the ground, and the difficulties it presented, in an engineering point of view, to the construction of a railroad through it, they feel justified in sustaining the judgment and decision of the Directors in rejecting that route, and adopting the route through Northfield. The Committee feel that they might fairly criticise the location in the town of Burlington, but as this location involved no private interests of the officers of the road, of which the Committee are aware, and as the construction of the Vermont and Canada Railroad between Burlington and West Alburg was then contemplated, and a Charter therefor had been actually obtained, which had undoubtedly a controlling influence upon the minds of the Directors ; the Committee are not prepared to pass any censure upon them on this account, for they admit that the selection of a proper location was attended with much difficulty. The branch road which now con- nects Burlington with the main road at Essex Junction, is certainly in every point of view, whether we consider its cost, or the character of its gradients, an expensive structure ; but if its construction be (as the Com- mittee are willing to believe) in compliance with the Charter of the Vermont and Canada Railroad, possibly this outlay was justifiable. The Vermont Central Railroad, as finally located, extends from the western side of the Connecticut River in the town of Windsor, Vt., to the shore of. lake Champlain, at Burlington. It passes through the towns of Hartland, White River, Woodstock, West Hartford, Sharon, Royalton, Bethel, Randolph, Braintree, Roxbury, Northfield, and Berlin ; thence by a branch it connects with Montpelier. From Berlin it passes through Middlesex, Waterbury, Bolton, Richmond, Williston, Essex, (where it connects with the Vermont and Canada,) and Winooski, and terminates in Burlington. 4 26 SECOND. The Vermont and Canada Railroad, Its Location, Its Connection witli^ and the Lease under which it is held hy the Vermont Central; and to what extent the latter has furnished the money recfLired to huild this road, and how far, and in ivhat manner these advances have been repaid. The Vermont and Canada Railroad was built under the following Charter, obtained from the Legislature of Vermont, in the year 1845. AN ACT TO INCORPORATE THE VERMONT AND CANADA RAILROAD C0:MPANY. Sec. 1. It is hereby enacted, &c., That Benj. Swift, John Smith, Lawrence Brainerd, William 0. Gadcomb, Victor Atwood, Abel Houghton, Gardner G. Smith, Romeo H. Hoyt, Samuel W. Keyes, Stephen S. Keyes, Timothy Foster, George Green, Bradley Barlow, Peter Chase, Jacob Wead, William Green, Hiram Bellows, Homer E. Hubbell, Isaac Patrick Clark, Alvah Sabin, Joseph Clark, Albert G. Whittemore, Daniel H. Onion, Oscar A. Burton, Horace Eaton, William Clapp, and Asa Owen Aldis, and their associates and successors, are constituted a Corporation, by the name of the Vermont and Canada Railroad Company, for the pur- pose and with the right, of building a Railroad, with a single or double track, from some point in Highgate, on Canada line, thence through the village of St. Albans, to some point or points in Chittenden County, most convenient for meeting, at the village of Burlington, a Railroad to be built on the route described in the Act to Incorporate the Champlain and Con- necticut River Railroad Company, and to some point or points in Chitten- den County most convenient for meeting a Railroad to be built on the route described in the Act to incorporate the Vermont Central Railroad Company, and with the right, and for the further purpose, of extending a Railroad from any point in the aforesaid route to some point on the western 27 shore of Grand Isle County, passing across the sand-bar to South Hero, as the said Company may hereafter designate ; to carry persons or property on the said Road, by the power of steam, or otherwise, and by that name may sue and be sued, may have a seal, and shall have all the rights inci- dent to Corporations. Sec. 2. If the Company shall not within five years commence the con- struction of the Road, and shall not within thirteen years complete and put in operation said road, connecting the Railroads to be built by the Cham- plain and Connecticut River Railroad Company and by the Vermont Cen- tral Railroad Company, with Canada line, then this Corporation shall cease, and this Act be void : Provided^ that if either of the Railroads to be built by the Champlain and Connecticut River Railroad Company, or by the Vermont Central Railroad Company, shall fail to be built and completed, then this Company shall not be required to build to the points of connec- tion with such Road so failing to be built ; and this Company shall have at least three years after such Roads are completed, to connect with them as aforesaid. , Sec. 3. The Capital Stock of the Company shall be one million of dol- lars, which may be increased by the said Company to an amount sufficient to complete the Road, and furnish carriages and necessary apparatus for the convenient and profitable use of the Road, which Capital shall be divid- ed into shares of one hundred dollars each, and shall be deemed personal property, and be transferable in such manner as the Company shall, by their by-laws direct. Sec. 4. Samuel W. Keyes, Stephen S. Keyes, Abel Houghton, Law- rence Brainerd, John Smith, Hiram Bellows, Joseph Clark, Lemuel B. Platt, and Daniel H. Onion, shall be Commissioners whose duty it shall be, within five years to open books for receiving subscriptions to the Capital Stock of the said Company, at some convenient places in Franklin and Chittenden and Grand Island Counties, and in such other places as they may deem proper ; and twenty days’ notice shall be given by them of the time and place of opening the said books, by publishing the same in some newspaper printed in each of the counties of Chittenden and Franklin ; 28 and when one thousand shares shall be subscribed, or as soon thereafter as the Commissioners shall direct, the Commissioners may give a like notice for the meeting of the Stockholders, at such time and place as the Com- missioners may appoint, to choose seven Directors, and such election shall then be made by the Stockholders who may attend for that purpose, either in person or by proxy ; each share of the Stock shall entitle a Stockholder to one vote ; the Commissioners shall be Inspectors of the first election of Directors, and shall certify the names of those duly elected, and deliver to such Directors the books of subscription, and all sums of money deposited with them on all shares subscribed as aforesaid ; the time and place for the first meeting of the Directors shall be fixed by the Commissioners ; a new election shall be made annually, at such time and place as the Directors shall appoint, giving thirty days notice thereof in one newspaper printed in each of the counties of Franklin and Chittenden, and in such other papers as they may deem proper. The Directors may cause such examinations and surveys of the said Road to be made, as may be necessary to enable them to determine upon the best route for a road between the points men- tioned ; and the Directors, or a major part of them, after such examinations and surveys shall be made, shall designate the route which they shall deem the most advantageous for the Road through each town, and make a certifi- cate thereof, under their hands and seals, and cause the certificate to be recorded in the town Clerk’s ofiice in each town through which the road shall pass ; which route so designated and certified, shall be the route on which the Company shall construct and make their single or double track. And the Corporation, from time to time, may make such alterations in the course of the Road as they may deem expedient, causing a certificate of the same to be recorded in the office of the town Clerk of each town in which the alteration is made, the expenses of which surveys, and all inci- dental expenses relating thereto, shall be paid by the Corporation. Sec. 5. The Directors shall elect from their own number, a President and Vice President ; the President, or in case of his absence, death, or inability, the Vice President, shall preside at all meetings of the Directors and Stockholders, and in case of the death or resignation of the President, or any Director, the vacancy may be filled for the remainder of the year, by such person, being a Stockholder, as the Directors shall choose. 29 Sec. 6. If an election of Directors should not be made on any day, as provided in this Act, the Company shall not thereby be dissolved, but such election may be made at any other time directed by the by-laws of the Company, and the old Directors shall hold their offices until new ones are elected. Sec. 7. Four Directors shall form a Board, who shall be competent to transact all the business of the Company ; who may make such By-Laws and regulations as may be necessary for the management and disposition of the Stock, Property, and Effects of the Corporation, the transfer of Shares, the duties and conduct of their officers and servants, the election of Directors, and for all other matters relating to the Company, and may appoint a Clerk and Treasurer, and fix their salaries, and the salary of the President and other officers and servants of the Company. The Treasurer shall give Bonds to the Corporation, with sureties, to the satisfaction of the Directors, in a sum not less than twenty thousand dollars, for the faithful discharge of his trust. The Corporation, by their officers or servants, may enter upon the route so designated for said Road, to lay out the Road, not exceeding six rods in width, through the whole length of the route ; may enter upon, take possession of, and use all such lands and real estate as may be necessary for the construction and maintainance of their Railroad, and for the requisite accommodation of the same ; and may take and hold all such grants and donations of real estate, as may be made to the Com- pany for their use and benefit. All lands thus entered upon and used by the said Corporation, which are not gifts, shall be purchased by the Cor- poration of the owner or owners of the same, and in case the parties disa- gree upon the price of said lands, and before making any portion of the Road upon such lands, it shall be the duty of the Judges of the County Court of the county in which such lands lie, upon the petition of the said Corporation, to appoint three disinterested Commissioners, who shall deter- mine the damages which the owner or owners of said lands, so entered upon, may have sustained, or shall be likely to sustain, by the occupation of the same ; and, upon payment of such damages, with the expenses at- tending the same, the Commissioners being allowed three dollars per day each while thus employed, or, upon said Corporation depositing in any Bank, either in Franklin or Chittenden County, to the credit of the person 30 or persons to whom an award may have been made, the amount of said damages, and paying the expenses of said appraisal, the proper officers of said Bank giving notice to such person or persons, of such deposit by letter, then the Corporation shall be deemed to be seized and possessed of such lands in their own right. The Commissioners shall give three days’ notice to the occupants or owners of the lands to be appraised, of the time and place when and where they will attend to such appraisal ; and when such appraisal is made, they shall deliver to the said Corporation a written statement of the same, with a description of the land so by them appraised which within sixty days thereafter, the Company shall cause to be recorded in the Town Clerk’s Office, of the town in which such lands lie ; and in case the owner of lands taken by the Company, shall be a married woman, an infant, idiot, or insane, or shall not reside in this State, then the Com- pany shall cause the damages to be determined in the manner above de- scribed, and shall pay the same to the owners last above mentioned, when the same shall be lawfully demanded, with the interest thereon, at the rate of six per cent, per annum, which said damages, and the interest thereon, shall be a specific lien upon the real estate of said Company, and shall be preferred before any other demand against the Company. Sec. 8 . The Corporation, or the owner of such lands or materials, feel- ing aggrieved by the decision of the Commissioners, either party may within ninety days from the making of such decision, appeal to the County Court in the county where such land or other real estate lies, by lodging with the County Clerk a written appeal from such decision, and serving a copy of such appeal upon the adverse party ; and the decision of the Judges of the County Court upon such appeal and appraisal, shall be final, and the Court may tax costs for either party as may be just. Sec. 9. The Company may build and use a double or single track upon said Road, as they may determine. Sec. 10. The Company may regulate the time and manner in which passengers and property shall be transported on the Railroad, and may erect and maintain toll-houses, and other buildings, for their accommodation and the convenient use of the Road, as they may deem suitable ; and may 31 collect and receive tolls and charges, for the transportion of passengers and property upon said Road, at such rate per mile as may from time to time be fixed by the Corporation : Provided^ the Supreme Court, at any stated session thereof, held either in Franklin or Chittenden Counties, on applica- tion of ten free-holders, in any town through which the said Road passes, may alter or establish the rate of toll upon said Road, for a term of time not exceeding ten years at any one time, and in such a manner that the Corporation shall not receive less than twelve per centum per annum, on the amount of Capital Stock, after deducting all the expenses of the Cor- poration, after the Corporation shall commence taking toll on said Road. Sec. 11. The Corporation shall keep just and true books and accounts of all expenses incurred in surveying, building, and keeping in repair, the said Railroad, and also of all the income arising from the said Road, which books and accounts shall, at all times, be open to the inspection of any Committee of the Legislature, or of the Supreme Court, and any such Com- mittee may examine the officers of the Corporation, under oath, as to their receipts and expenses. Sec. 12. The Corporation shall keep constantly exposed to view, at all places where they have toll-houses or gates, and at all public places where they receive passengers or freight, a sign or handbill, with the rates of toll legibly written or printed thereon. Sec. 13. If any person shall wilfully obstruct the passage of any car- riage on the said Road, or in any way injure or destroy the said Road, or any part thereof, or any building, engine, machine work, or anything belonging to said Road, or any material or implement used in the construction thereof, he, or any person or persons assisting, aiding, or abetting, in such act or acts, shall forfeit and pay to the Corporation, treble the amount of damages sustained by such offence, to be recovered in the name of the Company, with costs, by an action of debt, and shall be liable to indictment by the grand jury of the county in which such offence was committed, for such offence, and on conviction thereof, before such County Court, shall be punished as for a misdemeanor, or pay a fine not exceeding one hundred 32 dollars and not less than thirty dollars, to the use of the State, in the dis- cretion of the Court. Sec. 14. If the Railroad shall cross any private way, the Corporation shall so construct the same as not to obstruct the safe and convenient use of such private way ; and if the Railroad shall not be so constructed, the party aggrieved may have an action on the case in any Court proper to try the same, and recover reasonable damages for such injury ; and if the Rail- road should cross any highway or turnpike, the same shall be so constructed as not to impede or obstruct the safe and convenient use of such highway or turnpike, and the Corporation may raise or lower such turnpike, high- way, or private w'ay, so that the Railroad may, if necessary, pass over or under the same. And if the Corporation shall raise or lower any such turnpike, highway, or private way, and shall not so raise or lower the same as to be satisfactory to the proprietors of the turnpike, or to the selectmen of the town, in which the highway or private way is situated, such proprie- tors or selectmen, may require in writing of the Corporation, such altera- tion or amendment as they may think necessary ; and if the required amendment or alteration be reasonable and proper, and the Corporation shall unnecessarily neglect to make the same, such proprietors or select- men, may make such alteration and amendment, and may have an action on the case against said Corporation in any Court proper to try the same, and shall thereon recover reasonable damages for all expenses occasioned by making such alteration or amendment, with costs of suit. And if the said Railroad shall intersect or cross any stream of water, or watercourse, the Corporation may construct the same across a stream or watercourse, provided they restore the same as near practicable to its former state and usefulness. And the said Corporation shall build and maintain a sufficient fence on each side of their Railroad, through its whole route, where a fence may be requisite for the owners or occupants of the adjacent land : Provided^ that nothing in this Act shall be so construed as to prevent the crossing of said Railroad with teams or otherwise, in a manner not calcu- lated to injure the same. Sec. 15. The Champlain and Connecticut River Railroad Company, and the Vermont Central Railroad Company, and any other Railroad Com- 33 panj hereafter authorized so to do bj the Legislature, may enter -with another Railroad at any point of the Road herein granted, paying for the right of using the same, or any part thereof, such toll or other compensa- tion as the Legislature may prescribe, and complying with such rules and regulations as this Corporation may establish : Provided^ that any Corpo' ration feeling aggrieved by such rules and regulations, may apply to the Supreme Court sitting for Chittenden or Franklin County, who shall, there- upon, appoint Commissioners to settle and determine upon such rules and regulations as, with a proper regard to the interests of this Company, shall secure no unreasonable advantage to one Corporation over another ; and such rules and regulations, if adopted by the Court, shall thereby become established until altered, on a similar application, by the Court. Sec. 16. The Legislature may, at any time, after the expiration of fifty years from the opening for use of the Road, and not before, purchase of the Corporation the Railroad, and all the property, rights, and privileges thereof, by paying therefor the amount expended in making the same, the expenses of repairs, and all other expenses relating thereto^? And if, at the time of purchase, the Corporation shall not have received an income equal to ten per centum per annum on the original costs over and above the charges and expenses relating thereto, the Legislature shall pay the Corporation such additional sum as, together with the tolls and profits of every kind received from the Road, will be equal to ten per centum per annum on the cost of the Road, from the date of the payment thereof, by the Stockholders of the Corporation, to the time of such purchase. Sec. 17. The Directors of the Company may require payment of the sums subscribed to the Capital Stock, in such proportions, and at such times, as they shall deem best, not exceeding ten dollars at one time, and one hundred dollars upon any one share, under the penalty of forfeiture of all previous payments thereon, and when the Directors shall require the payment of any portion of the capital stock of said Company, they shall give at least thirty days’ notice of the time and place of such payment, by publishing the same in at least one newspaper in each of the counties , of Franklin and Chittenden, and at such other places as they may deem proper. 6 34 Sec. 18. The office of the Clerk of the Corporation shall be kept in this State. Sec. 19. The Company may, by their engineers, agents, or workmen, with such teams, carriages, and tools, as they may find convenient, enter upon any lands contiguous to the Road, or the works connected therewith, to dig, blast, carry away, and use, such stone, gravel and earth, as may be necessary for building or repairing the Road, doing thereby as little damage as the nature of the case will permit, and in case damage should be claimed by the owner of the land thus entered upon, and for the stone, gravel, and earth, thus carried away, and the owner and the Company do not agree upon the sum to be paid therefor, the same shall be assessed by Commissioners in the manner before prescribed in this Act, and cither the Company or the owner feeling aggrieved, may appeal as aforesaid. Sec. 20. This Act shall be deemed, and taken to be, a public Act, and shall be construed favorably and beneficially, for all the purposes for which it is intendedf Sec. 21. The Directors shall, annually, on or before the third Thursday of October, make a report to the Legislature of their proceedings, receipts, and expenditures, and their books shall at all times be open to the inspec- tion of a Committee of the Legislature appointed for that purpose. Sec. 22. This Act shall take effect from its passage. Sec. 23. The Supreme Court shall, on application for that purpose, fix the price for which the United States’ mail shall be transported to and from any different points on said Road, which shall continue to be the price for which said Company shall transport said mail, until the same shall be dimin- ished or increased by said Court, which they are hereby authorized to do on application for that purpose. 35 The foregoing Act was approved by the Legislature of Vermont, on the 31st of October, 1845. On the 15th of November, 1847, an Amendment to this Act was passed, by which it was enacted : That so much of the first section of the Act to incorporate the Ver- mont and Canada Railroad Company, approved October 31, A. D. 1845, as is expressed and contained in the words, ‘ passing across the sand-bar to South Hero,’ is hereby, by consent of said Company, repealed.” The Vermont and Canada Railroad extends from Essex Junction, in the County of Chittenden, in the State of Vermont, to Rouse’s Point on Lake Champlain, in the State of New York, passing through the intermediate towns of Colchester, Milton, Georgia, St. Albans, Swanton and Alburg, all of which are in the State of Vermont. It joins the Vermont Central at the distance of about six and a half miles from Bur- lington, and with this town it is connected by means of the Central Railroad. The charter, as has already been perceived, requires the Vermont and Canada Railroad to be extended to some point or points in Chittenden County, most convenient for meeting at the village of Burlington the Champlain and Connecticut River, (subsequently, by change of name, called the Rut- land and Burlington) Railroad. Whether the connection thus made at that village, over the Vermont Central Railroad, complies with the Charter of the Vermont and Canada Railroad, may admit of a doubt ; but it would seem that if the Vermont and Canada Railroad actually meets the Rutland and Burlington Railroad, at the village of Burlington, by employing the Central Railroad as the medium of communication, and the Central Rail- road, who may be considered as owning the Vermont and Canada, under the Lease referred to hereafter, (y>. 39.), effects this connection by the interposition of its own road ; this substitution, which affords to the public the same advantages which would be derived by the construction of an independent road, may fairly be treated as a substantial compliance with the Charter ; and, at any rate, the difiiculty, if any exist, might probably be removed by a purchase of the six and a half miles in question, from the Vermont Central by the Vermont and Canada ; which purchase could 36 be doubtless effected on satisfactory terms to both parties, should such an act become necessary. The Vermont and Canada, in its present relations with the Vermont Central, may be considered as an extension of the latter road to the north- erly end of Lake Champlain ; and as the main business done upon each is not separable from that done upon the other, the Committee, except where the relations between the two roads are specifically treated of, have often used the term ‘‘Vermont Central” as applicable to both, inasmuch as for all practical purposes, both must be considered as forming but one road from Windsor to Rouse’s Point. The Vermont and Canada Road is, generally, well built, requiring no greater outlay for repairs than is usually needed for roads which have been constructed the same length of time ; and in respect to its curves and gradients, it is favorable to the economy of working. For particulars in respect to the condition of this road, reference may be had to the tables annexed. QAppendix — TaUe 7.) The Committee, in aid of their own judgment, have caused the entire line of both roads, from Windsor to Rouse’s Point, to be carefully examined by an experienced Civil Engineer, (Wm. P. Parrott, Esq.) His Report upon this subject is annexed (^See Appendix^') from a perusal of which the reader can form a correct opinion of the present condition of the road andits appurtenances carried to such an extent of detail, as to render it unnecessary for the Committee to make further statements here upon the subject. This Report will also furnish the best information the Committee have been able to procure, as to the amount of repairs which is required to put the road in order. For these, as will be seen, no unreasonable outlay will be needed. Messrs. S. S. Lewis, Charles Paine, John Smith, S. M. Felton, Law- rence Brainerd, Geo. Parish, and J. W. Edmands, were appointed Directors, who, of their own number, at the first meeting, held July 20th, 1847, elected John Smith, President ; Lawrence Brainerd, Clerk; and the Treasurer of the Vermont Central Railroad, Mr. Samuel H. Walley, was appointed Treasurer. The last two of these gentlemen resigned, December 3d, 1847. The survey of the road was made in September, 1848, by H. R. Campbell, who the Committee infer to have been its Engineer at that time ; 37 as the records state that acts were done by him in that capacity, although they contain no vote of his appointment. Mr. Campbell’s report of the cost of building the road, made at or about that time, was as follows : — Embankment, . $222,361 33 Eock excavation, . 27,497 00 Gravelling track, , 54,000 00 Culverts and cattle guards, 17,706 00 Bridge masonry, . 147,903 00 Arch masonry, 19,474 00 Lamoille Eiver bridge, . 15,300 00 Indian Eun bridge. 4,500 00 Missisquoi Bay bridge, . 231,200 00 Small bridges. . • . 15,000 00 Superstructure and Iron, 342,000 00 Total, $1,096,941 33 At a meeting of the Stockholders of this Company held, October ITthy 1848, the Directors then in office were re-chosen ; and Messrs. Wm. Farrar, and Heman Carpenter were added to their number, to supply the vacancy occasioned by the resignation of Messrs. Parish and Edmands. The same officers were re-appointed by the Directors. On the 12th March, 1849, Messrs. Smith, Erainerd and Carpenter, were appointed a Committee “with full powers to execute a Contract for leasing the road, when built, to the Vermont Central Eailroad Company.” On the 15th March, 1849, the President was authorized to contract with S. F. Belknap, for the grading, masonry, and bridging of this road, from the proposed junction with the Vermont Central Eailroad at Essex, to the south bank of the Lamoille Eiver, and also, to contract with H. E. Camp- bell, for the grading, masonry and bridging from the north bank of this river, to a point in the village at St. Albans to be selected for a depot. James Moore, Esq., was then elected Engineer to superintend the con- struction of the work. 38 Charles Paine, (the President of the Vermont Central,) was appointed Agent of Construction, from Essex to St. Albans,” and bj a subsequent vote, passed August 24th, 1849, Mr. Paine was appointed ‘‘ a Committee to construct the Railroad from Essex to Rouse’s Point.” Josiah Quincj, Jr., was appointed Treasurer in place of Mr. Wallej, August 16, 1849 ; and on this day the first assessment was, on the motion of Mr. Paine, laid upon the Stock. The assessment was §10 per Share upon the Shares subscribed, and was payable on the 1st October, 1849. This appears to have been the first money which had been raised by the Stock- holders by assessment on Stock. By a vote previously passed, December 8d, 1847, the President had been authorized to borrow money in the fol- lowing terms : ‘^Resolved, That the President be authorized to borrow of the Vermont Central Railroad Company, or of any other person or persons, money, not to exceed in amount the sum of §6000, to defray expenses of a survey of said road, and to extinguish the liabilities of said Company.” Under this vote it is presumed that the Vermont and Canada, previous to October 1st, 1849, borrowed of the Central about §4000 : as such an amount appears, by the books, to have been received from this source. The lease of the Vermont and Canada Road to the Central was approved by the Board of Directors, August 24th, 1849, and was ratified and con- firmed by them at a meeting held on the 27th of the same month. The Stockholders approved and accepted it on the 17th of October following, and also accepted the Act of the Legislature of Vermont, passed November 6th, 1847, relating to leases, &c. of Railroads. (See Laws of 1847, No. 22, § 1.) By this Statute it is enacted, &c. That all Railroad Companies incorporated, or which may be incorporated, under the authority of this State, shall have power to make contracts and arrangements with each other, and with Railroad Corporations of other States, for leasing or running their roads, ■or any part thereof,” &c.&c. This Act was approved November 6th, 1847. The Lease itself is as follows : — 39 LEASE OF THE VERMONT AND CANADA RAILROAD. These Articles of Agreement, made this 24th day of August, in the year eighteen hundred and forty-nine, by and between the Vermont Cen- tral Railroad Company of the first part, and the Vermont and Canada Railroad Company of the second part, both being Corporations established by the authority of the State of Vermont, Witnesseih : — That whereas it is agreed by and between the parties hereto, that the Vermont and Canada Railroad Company shall proceed, (with all despatch consistent with the amount of labor to be done) to con- struct and finish the Vermont and Canada Railroad, and that the same shall be leased to, and run by, the Vermont Central Railroad Company : Now, therefore, the Vermont and Canada Railroad Company hereby agree with the Vermont Central Railroad Company to provide forthwith the necessary funds, and to proceed to construct the said Vermont and Canada Railroad, its fixtures and buildings, to settle and pay all land and other damages, and to do and complete all other arrangements and things in a proper and legal manner, so that their right and title to said road, and to the use of it, shall be clear and unquestionable. It being understood and agreed that the several sections and portions of said Vermont and Canada Railroad shall be constructed at such limitation of cost, within such time, on such location, and in such way and manner in all respects, as shall be con- formable to their Charter, and as shall be satisfactory to, and approved by, the Directors of the Vermont Central Railroad Company, or any Agent whom said Directors will appoint for that purpose. And the Vermont and Canada Railroad Company in consideration of the premises, and of the covenants of said Vermont Central Railroad Company hereinafter contained, agree to grant, lease and demise, and so far as they have present legal authority, do hereby grant, lease and demise unto the Vermont Central Railroad Company, their successors and assigns, the whole of said Vermont and Canada Railroad, as the same is now loca- ted, or shall hereinafter be located, and constructed, together with all the lands, depots, buildings, tracks, fixtures, property, rights and privileges thereto appertaining or belonging, or which may hereafter be procured or purchased by, or be granted, appertain or belong to the said road, with 40 the full right and privilege of using the said road, depots, and other pro- perty and rights, with cars, engines, and other motive power, or to per- mit, or authorize others so to use the same, in any way which the Ver- mont Central Railroad Company, their successors or assigns may from time to time elect; and as fully and freely as the Vermont and Canada Railroad Company might or could do under their Charter, and any addi- tions made or to be made thereto. To have and to hold the said Vermont and Canada Railroad as the same is now located, or shall hereafter be located or constructed, and all lands, depots, and other property, right and privileges whether now" acquired, or hereafter to be procured, unto the said Vermont Central Railroad Company, their successors and assigns forever as fully and freely to all intents and purposes, as the Vermont and Canada Railroad Company might or could have, enjoy and use the same under their charter, and any additions made or to be made thereto ; Subject, however, (in case this instrument shall be held to be a present lease,) to the right of the Vermont and Canada Railroad Company, their officers, agents and workmen, to enter upon said road for the purpose of constructing the same, and completing the arrangements herein covenanted on their part to be made, this right to cease as soon as said road shall be accepted by the Vermont Central Railroad Company as completed : Subject, also, to the right of the Legislature of the State of Vermont, after the expiration of fifty years from the opening of the road for use, to purchase the same as provided in the sixteenth section of the charter of said Company, and subject, lastly, to the legal rights, if any, of all other Railroad Companies to use the same. And to enable the Vermont Central Railroad Company beneficially to enjoy and improve the said property, rights, "and privileges, the said Ver- mont and Canada Railroad Company hereby nominate, constitute, and appoint the Vermont Central Railroad Company, their successors and assigns their attorneys irrevocable with full power and authority to use the the name of the Vermont and Canada Railroad Company, in, and about the future repair, management and use of the said Vermont and Canada Railroad, and all the property, rights and privileges which may at any time appertain thereto, with the right and power, so far as the same may lawfully be done, to connect said road with other Railroads, to make branch 41 or side tracks, and to make such alterations in the leased and granted premises, as the convenient use thereof shall be found to require, and as may lawfully be done : also with the right and power to establish, receive and collect tolls, fares, rates of compensation, and rents for the use of said road, and other property, or for the transportation of persons, merchan- dize, mails, and every description of property, upon and over said road, or any part thereof, for the sole use and benefit of the Vermont Central Rail- road Company, their successors and assigns : and to make any contracts, covenants, or agreements proper and necessary for all the purposes herein provided for, with any persons or Corporations whatever, in the name of the Vermont and Canada Railroad Company, and under their corporate seal or otherwise ; and generally to do all other acts and things in the premises which the Vermont and Canada Railroad Company might lawfully do; with full authority also to use the name of the Vermont and Canada Rail- road Company in and about all proceedings at law or in equity, which the Vermont Central Railroad Company may judge necessary or expedient in and about all the business and proceedings aforesaid, or for the purpose of fully securing to the Vermont Central Railroad Company, their successors and assigns the quiet and beneficial enjoyment, possession and use of the said road, and of all the property, rights, and privileges hereby granted secured and demised, or for any other purpose consistent with the true intent and meaning of this Indenture ; and with the right, for all the purposes aforesaid, from time to time, to substitute and appoint one or more attorneys under the Vermont Central Railroad Company, and their / powers at pleasure to revoke. And the Vermont and Canada Railroad Company hereby agree with the Vermont Central Railroad Company, their successors and assigns, at all times to continue and preserve the legal organization of the Vermont and Canada Railroad Company, and at all times to hold such meetings, pass such votes, appoint all such officers, and confer upon them all such powers, keep such records of their proceedings, make such reports to the Legisla- ture or otherwise, as may be required by law, and do all such other acts as may be necessary and proper to carry into full effect all the objects and provisions of this Indenture ; and that they will on reasonable demand at any and all times hereafter give such other assurances as may be neces- sary or proper therefor. 6 42 And the said Vermont and Canada Railroad Company agree that if the Vermont Central Railroad Company shall, at any time after twenty years from the opening of said Vermont and Canada Railroad for use, elect to purchase the demised premises, and shall have the legal right to make such purchase, then the Vermont and Canada Railroad Company will give to the Vermont Central Railroad Company, their successors or assigns, an absolute grant, assignment and release in perpetuity of the said road, and of all the other property, rights, privileges and franchises of said Vermont and Canada Railroad Company, by a Deed, or other Instrument proper and legal therefor, running to the Vermont Central Railroad Company, or such party as they shall designate : upon payment by the Vermont Cen- tral Railroad Company to the Vermont and Canada Railroad Company of an amount sufficient to pay to each Stockholder in the Vermont and Canada Railroad Company, the par value of his shares : and will cause the said shares to be transferred to such persons or Corporation as the Vermont Central Railroad Company shall designate. And the Vermont and Canada Railroad Company agree that they will at no time interfere or act in the use or management of their road, or any of its appurtenances, except in the manner herein mentioned, or unless they shall be required so to do by law, or by the written request of the V ermont Central Railroad Company. And the Vermont and Canada Railroad Company hereby further agree that when their road shall be completed, and the titles to the same, and to the lands, fixtures, and other property thereof shall be vested in them, they will on request execute and deliver to the Vermont Central Railroad Com- pany, their successors or assigns, a Deed of Confirmation reassuring the pro- visions of this Instrument, upon the terms and conditions thereof, so far as the same may be then applicable. And the said Vermont Central Railroad Company on their part agree, that when said Vermont and Canada Railroad and its appurtenances shall be constructed in manner aforesaid, and ready for use, they will provide the necessary power and other equipment, and will open and run the same at all suitable times, hereafter for the accommodation of the public, and will pay as a rent therefor in addition to the necessary incidental expenses of said Vermont and Canada Railroad Company, a sura equal to eight per cent, annually upon the amount of the whole cost for the time being of 43 said road, its buildings, fixtures, lands and appurtenances, as the same shall have been paid by the Vermont and Canada Railroad Company; the said rent to begin on the first day of December next, and to be thereafter paid semi-annually, on the first days of June and December in each year until said road shall be purchased by the Legislature of Vermont, or by the Vermont Central Railroad Company as before mentioned. In testimony whereof^ the said parties have to this Indenture executed in duplicate caused their respective corporate seals to be affixed, and the same to be signed, in their behalf respectively, by Charles Paine, President of the Vermont Central Railroad Company, and by John Smith, President of the Vermont and Canada Railroad Company, the day and year above written. THE VERMONT CENTRAL RAILROAD. By their President, (Signed) CHARLES PAINE. THE VERMONT AND CANADA RAILROAD. By their President. (Signed) JOHN SMITH. Executed and delivered in presence of (Signed) H. R. Campbell. (Signed) James Moore. The foregoing is a true copy of the Contract accepted by the Directors of the Vermont Central Railroad Company, and filed, “Permanent Con- tract of Transportation,’’ Vermont Central Railroad Company and Ver- mont and Canada Railroad Company. Attest Countersigned (Signed) JOSIAH QUINCY, Jr. (Signed) E. P. WALTON, Jr. Clerk V. C. R. Co. Treasurer V. C. and V. & C. E. R. Co. 44 At a meeting held Jan. 11, 1850, it was. Ordered, that the articles of agreement made on the 24th day of August last, between the Vermont Central Railroad Company and the Vermont and Canada Railroad Company, be by joint consent amended by substi- tuting fifty years for twenty years as the period after which the Vermont Central Railroad Company, may, on the terms expressed in said Articles, require an absolute grant, assignment and release in perpetuity of the Property, Rights, Privileges and Franchises of the Vermont and Canada Railroad Company. This Lease was made under the authority given by the Legislature of Vermont, by the foregoing Act, which, in the opinion of the Committee, is broad enough in its terms to embrace a contract of this description. It includes the present location of the road from Essex to Rouse’s Point, as the same was finally built. By the terms of the Lease, the Vermont and Canada agreed to complete the road, with all despatch consistent with the amount of labor to be done upon it : “ To provide all neccessary funds to construct the road, its fix- tures and buildings ; to settle and pay all land and other damages, and to do and complete all other arrangements and things in a proper and legal manner.” The annexed table {See Appendix Table L) will show the amount raised for, and lent to, the Vermont and Canada, by the Vermont Central; and when, how, and to what extent, these advances have been repaid. Now if the Vermont and Canada had, in fact, constructed this road at the cost at which it was originally estimated ; or at the price at which it was eventually built, the Rent which the Vermont Central agreed to pay for it, was, perhaps, a fair equivalent to its value, especially if taken in connection with the advantage which, for competing purposes, the control of the Canada gave to the Central Road ; but the Committee are forced to say, that they have not seen any evidence that the Canada Railroad has, in this respect fulfilled its contract. So far from doing so, this Corporation during the time it was engaged in constructing the road, actually borrowed from the Central for this purpose, the enormous sum of $2,133,773 32, which, by the terms of the lease, they had agreed to raise upon their own 45 credit ; and finally turned over the road to the Central, in an unfinished state, for the Central to complete. The following vote upon the sub- ject was passed by their Board at the time. Resolved^ — That the Vermont and Canada Railroad Company propose to the Vermont Central Railroad Company, that they take possession of the Vermont and Canada Railroad in its present unfinished condition^ and finish up the said road,” &c. The Central has assented to this deviation from the Contract ; and has actually paid 8 per cent, interest, from December 1st, 1849, to the Ver- mont and Canada Stockholders on the amount of stock paid in, under the name of Rent^ although the road was then scarcely begun ; and, in fact, more than a year elapsed, before it was opened throughout to the public ! Viewed in one light at least, the Vermont Central may be considered to have built the Canada road. They have advanced to it, in the aggre- gate, an amount greatly exceeding the whole of its capital. They have given to it the time of its President, and its Officers, without receiving one dollar’s remuneration. They have put it, at their own expense in the first in. stance, into its present state of completion ; andyn return, they are now bound for fifty years, at least, to pay, for the use of it, 8 per cent, upon its cost ! It is true that, to the amount of $2,131,674 37, the Vermont Central Railroad has been repaid ; but this to a considerable extent was but nomi- nal ; for the payment itself, as will be seen (^. 48,) has been effected only at an additional sacrifice to the Central ; and the Canada has not been hith- erto charged even with simple interest^ upon the monies advanced towards its construction, when the interest paid to procure funds for their use, was, at an average, about three times that rate. Viewed as a Contract, this Lease is, in the opinion of the Committee, unfavorable to the Central ; and the Committee would have supposed that Directors feeling a just concern for the welfare of their Corporation, would have perceived the objectionable character of its provisions. For it will be perceived that the Central covenants to pay eight per cent. Rent upon the cost of the Canada, for the time being, “ from and after December 1st, 1849,” and without regard to the actual state of the road. This the Central Road actually did; and they paid in Rent” under the Contract, 46 about $30,698 00, before the whole road was bridged to Rouse’s Point, and long before it was finished ; and, in fact, it cannot be consid- ered as entirely finished at the present day. And in addition to the subscriptions paid in, this Rent was computed also upon unpaid ” assessments on the Stock, and on debts due to the Canada from its officers. Mr. Quincy’s notes (to a very large amount) having been for many months included as part of the cost of the road, and on these notes Rent was actually paid ! For proof of this assertion, the Committee refer to the fact that on the 8th of December, 1851, a semi-annual dividend of 4 per cent, was paid to Mr. Quincy on 1830 shares which had been issued to him in exchange for his notes, and these same shares were afterwards (January 7, 1852,) taken back, and their par value endorsed upon his note for $212,901 65, into which the notes originally given for these shares had then been incorporated ! The Committee cannot perceive how the Directors of the Central could for a moment have agreed to such a provision. How would they have stood, had the Canada refused or been unable to construct its road, and they themselves had been unable to complete it ? Round to pay Rent upon it before it was susceptible of use ! Yet such is the literal effect of the Contract, unless we consider the Canada, by the terms of the Lease, impliedly bound to have finished its work by the 1st December, 1849, which was an absolute impossibility, as the road was then scarcely begun. This inference, may, perhaps, be drawn, although the Contract seems to the Committee scarcely susceptible of such a construction, at least so far as regards Stockholders who had previously subscribed. If such be its import however, how could the Directors of the Central pledge their Corporation to such a bargain, when they must, or should have known the utter im- practicability of completing the road at the time when the payment of Rent was to commence, and that the Canada had not the means to complete it, had it been possible ? That they should have known this, is evident at once from the fact that their own President was constructing agent of the Canada road, and one of its Directors ! Further. — If the payment of Rent, whilst the road was in an unfinished state, was (as is most probable) a bonus to obtain subscribers, why should the Directors of the Central agree to pay the subscribers to the stock of the Canada eight per cent, upon their subscriptions paid in, when in no other case, in New England at least, of which the Committee are 47 aware, is more than six per cent, paid under similar circumstances ; and this six per cent, ought to be paid, if paid at all, (for the Committee doubt much the expediency of thus reducing the capital of a Corporation under the pretext of paying interest to Stockholders,) from the funds of the Canada Road itself? Apart from this Contract, which is, in these respects at least, so unfavor- able to the Central, what is to be said of the manner in which, without protest or objection, the Canada has been permitted to violate even the few cove- nants which it contains on their part ! Of the fact that the Central absolved it in effect from the task of raising the means to construct the road and its appurtenances ; and have, by a series of acts, assented to this violation of the bargain ? Yet all this the Directors of the Central have done, as will be seen by referring to the construction account of the Committee. The Committee think that against the payment of Rent should be offset, at least, the expenses incidental to putting the road into the condition in which the Canada guaranteed that the Central should receive it at their hands ; a claim to which, if made, the Canada would doubtless, to a certain extent, have been bound to yield. The Committee cannot find any adequate reason to assign for this conduct, and they leave the matter to the judgment of the Stockholders themselves. The Directors of the Vermont Central were certainly intelligent men. That they have great ability in business, the Committee willingly admit. Grant- ing these two qualities, the Committee feel perfectly satisfied that in their individual capacity, none of these Directors would have made such a contract relating to their personal concerns ; or having once made it, they would never have submitted to such an open infraction of it by the other contracting party. Why then did they do it here, when the performance of a Trust was involved ? The Committee fear that the best excuse is to be found in the fact, that trusts of this nature are becoming less regarded, as the number of Directors in Corporations increases, and the business of Corporations mul- tiplies. The gentlemen to whom these affairs are entrusted, finding the labor incident to the performance of their duty, onerous and unprofitable, are too frequently beginning to consider it of little consequence, and to shield themselves from the charge of negligence, by the excuse, that their services are gratuitously given, or but slightly recompensed. This may have been the case with the Directors of the Central ; and the Committee, should they 48 search for an excuse, could not ascribe this omission on their part to guard the interests of their constituents, to any less culpable cause. But the Committee, although thus exonerating the Directors of the Cen- tral from any specific charge of misconduct, do not, by any means, excuse the Vermont and Canada Directors for thus taking advantage of the supineness of their neighbor. They cannot but think that this bargain on the part of the Canada, and its conduct under it, is in a moral point of view, unjustifiable. The Vermont and Canada should have been less exacting in their demands, in proportion as they found that these demands were yielded to without scru- tiny ; and in dealing with so generous a party, there was less excuse for their omission to perform what they had agreed and offered to do. The bargain itself was certainly sufficiently advantageous; and had the Vermont and Canada been content to carry its provisions into effect, the Committee would not have been disposed to censure it. But when the Canada found they could not complete the Contract, or comply with its terms, then they were bound to yield, and to forego some of those anticipated profits, which they found themselves unable to earn, and thenceforth to exonerate the Central from the onerous provisions of the Lease, if their own Stockholders refused to complete the road by subscriptions or otherwise ; and this, whether the Central insisted upon it or not. Such an act would have been but simple justice ; and the Committee regret that the Vermont and Canada Directors did not view it in this light. An instance of the self-sacrificing disposition of the Central Road towards the Canada, may be found in the fact, that on one occasion, where a debt of about $387,500, due from the latter to the former Railroad, partly for borrowed money, and partly for notes of the Canada, on which the Central was responsible, (and which they had been obliged to take up,) was payable, and it became necessary to pay it ; the Central Road, although aware beforehand of the loss consequent upon the operation, not only relinquished its claims for such portion of the debt as was made up of interest, the expenses of protest, &c., but consented to receive the Stock of the Canada Road in payment, at par; and upon its receipt, immediately sold the Stock at a loss of $11,625, which they have never, to the knowl- edge of the Committee, called upon the Canada to pay 1 Subsequent to this, in March, 1852, the Central received in return for money borrowed of them by the Canada, (on which interest as usual was 49 given up,) 1,225 shares of Stock, at par ; and these shares, also, they sold at a loss of ^2,660 93. This course was, to say the least, most remarkable. It is to he justified, if at all, only by the pressure of the circumstances under which these acts were done. But the Committee do not see why the extraordinary effort for relief, if such effort became necessary, should not have been made by the Canada Hoad itself. Granting, however, for the sake of argument, that the Directors of the Central were justified by the stringency of the market, or similar causes, in raising this large amount of money in behalf of the Canada ; and without consulting their Stockholders on the subject, in lending this aid to another corporation, the Committee cannot but consider it a great oversight on the part of the Directors, (to use the mildest term,) that they should have neglected to demand of the Canada some acknowledgment at least, of the debt, by requiring the Canada to issue to them Stock in their Road for this amount ; which the Canada would have been bound to do. With this Stock on hand, the Central would have been free to elect, whether to retain it in their drawers to keep down their rent, — should this, (as has been sug- gested by some of their Directors,) be the cheaper course ; and borrow the money at the sacrifices at which they did in fact eventually raise it, — or to sell the Stock in the market and apply the proceeds to extinguish their floating debt. A power of election^ at least, upon so important a matter, could have been easily procured ; and had it been obtained, it would cer- tainly have exonerated the Directors, in the opinion of the Committee, from a charge of neglect, for whmh they can find no adequate reason to account. The Committee cannot believe that this subject was ever thought by the Directors worthy their special attention ; for they cannot conceive that this omission, on their part, was the result of any deliberate judgment or reflection. For how would this Road stand, should a separation occur between the two Corporations ? Would they have permitted the Canada to have seceded, taking with them so valuable a portion of their property as $250,000 represents, without paying for it the value of one cent ? Nay, further, would they have been willing to forego the advantage which even a vote upon 2500 shares would have ensured to them at a meeting of this Corporation, where matters of such vital importance to their own welfare were to be considered and acted upon. T 50 The Committee feared that this liberality on the part of the Central toward the Canada, might be caused by a personal interest, which the Directors of the former might have in the latter Road ; for they supposed it possible that the Directors feared the effect which sales of Stock in the Canada might have in a market, where it hitherto had commanded $100 per share. But the Committee cannot find any evidence to authorize such an imputation, and they therefore are inclined to consider this remissness of the Directors of the Central to have resulted from some oversight on their part. The Committee, in treating this subject, wish to confine themselves, as far as possible, to a simple report of facts. But they cannot forbear con- gratulating the Stockholders of the Central, that, from the nearly finished state of the Canada Road, they are at length comparatively relieved from the demands of so unconscientious and so unreasonable a debtor. There is one extraordinary circumstance connected with the construc- tion of the Vermont and Canada Railroad, which requires notice, viz. : the small amount of its cost, compared with the original estimates. These estimates made in September, 1848, only included that part of the Road between the western shore of Grand Isle County and Essex Junction, a distance of about forty-six miles ; but the Road was afterwards extended thence by a floating bridge to Rouse’s Point, at an additional cost of about $52,436 60. The estimate for this distance of forty-six miles was as follows: — Embankment, .... 222,361 33 Rock excavation, .... 27,497 00 Gravelling track, .... 54,000 00 Sq. culverts and cattle guards. 17,706 00 Bridge masonry, .... 147,903 00 Arch masonry, .... 19,474 00 Lamoille River bridge, . 15,300 00 Indian Run bridge. 4,500 00 Missisquoi Bay bridge, 231,200 00 Small bridges, .... 15,000 00 Superstructure, .... 342,000 00 $1,096,941 33 51 The actual cost, — not taking into view here the claims of the Central, on account of construction, &c.,but treating this cost as reported by the Ver- mont and Canada books irrespective of this claim, and which is not here added in by the Committee, — is ,$1,323,324 70. Deducting from this amount the extra expense of bridging the Road to Rouse’s Point, from the western shore of Grand Isle County, $52,436 60, we find the reported cost of the forty-six miles to be but $1,270,888 10. And yet this reported cost includes many items of construction not embraced in the estimate, viz. ; — Engineering, . 32,853 33 Land damages. 52,886 60 Road at Rouse’s Point, . . . 14,077 05 Interest, 14,763 68 Incidental expenses, . ^ . . 54,986 59 Depots, 28,113 98 Tenements, 3,401 02 Insurance, 327 75 $201,410 00 To compare this reported cost with the estimate, this sum of $201,410 00 must therefore be deducted. Making this deduction, we find the reported cost of so much of the work as is embraced in the original estimate, to be but $1,069,478 10. Remarkable as this result is, it becomes more so when we contrast it with the case of the Central Road, of which the cost of similar items of con- struction, by a series of estimates made from April 1, 1848, down to June, 1849, (for no estimate of the cost of this Road appears to have been made before the work was commenced,) was computed at about $3,000,000. While the actual expense, exclusive of the losses by Belknap and Quincy, and the cost of equipment, (which is deducted because the Vermont and Canada did not provide equipment,) has amounted to $6,475,444 91 1 Thus the average cost of the Canada is $28,155 84 per mile. Whilst that of the Central cannot be estimated at less than $55,345 68 ! Yet both Roads were built about the same time. The Canada is as well built, to say the least, as the Central. The engineering difficulties encoun- 52 tered in the latter, though undoubtedly greater, could have occasioned but a comparatively small portion of this extra expense ; and the land damages, paid by them should have been but little higher in proportion than those paid by the former. The Vermont Central had, it is true, expended money in the construction of machine shops and buildings, which was spared to the Canada ; but this varies the average cost per mile to a trifling amount merely, in this comparison. Allowing for these advantages in favor of the Canada Road, twenty-five per cent, per mile upon its reputed cost, which is certainly a liberal allowance, we still find the Central to have cost about $20,000 per mile more than the Canada ; and this too notwithstand- ing the cost of the former is averaged upon one hundred and seventeen miles, whilst the latter is computed but upon forty seven. This alone gives to the Canada road, in this comparison, an advantage of about five to two ! The cost of material and labor should have been about the same per mile, and both roads were built principally under the same management, at least so far as concerns their constructing agent, Mr. Paine, and their Engineers. Could such a disparity have occurred in the actual cost ? Or have the extra expenditures of the Central, been incurred in behalf of the Canada, to a greater extent than the estimate made by the Committee ? The Com- mittee cannot answer this question, nor can they see why the Canada cost so little, and the Central so much. For the credit of the Directors of the Central, it is to be hoped ^hat the two results are independent of each other, and that each is attributable to natural causes. The Directors of the Central, however, must or should, had they investigated the subject, have early discovered this great difference. If it did not awaken suspicion, it should have led to cautious inquiry. In either case, they should for the future, have seen that each Road was charged with its own peculiar bur- dens ; and they should have prevented the confusion in the accounts of the two Roads, which now exists on the books of the Corporation, and which renders it impossible at the present time, to ascertain the precise expendi- ture consequent upon each ; and they should have required the Canada to assume losses incident to its own construction, which they have in some in- stances certainly failed to do, although their attention was especially directed to the subject. (Allusion is made here to the losses on Stock be- fore referred to on page 48). 53 The Committee wish it was in their power to give a more particular analysis of the cost of each Road, by going behind the vouchers on file which have escaped the fire, to the individuals giving those vouchers ; and ascertaining, as a matter of fact, whether or not the actual cost of each, if the account be equitably made up, is to be apportioned betw^een them as it stands upon the Company’s books. This however they have not had the op- portunity of doing. They have been obliged in all cases to assume the au- thenticity of vouchers. But in an account made of innumerable items, embracing many millions of dollars, where the contracting parties resident here, are scattered through the country, from Boston to Rouse’s Point, and so few of them known to the Committee, and where many contracts have been made with persons abroad, this investigation would have occupied too much of their time, and would have protracted too far the completion of their Report. The case, as represented by the Committee, assumes the most unfavorable aspect to the Central Road, this course having been con- sidered by them to be the safest to pursue. The Committee, in this connection, feel bound to state, that they con- sider the fact, that so many of the Directors of the Central, held similar offices in the Canada, to have been prejudicial, in the earlier stages of con- struction, to the interests of the Central Road, so far at least as their mutual financial operations, and the performance of the contract between them is considered. In these particulars, the two Corporations stood in an antagonistic position to each other ; and to guard their respective interests, it would have been well had the two Boards been entirely distinct. It would have materially diminished the responsibility assumed by these gen- tlemen, had their action been confined to the interests of one side only. In that case, they would not have taken upon themselves the delicate task of binding both parties by their single vote ; and they would have avoided, in a great measure, the odium consequent upon an unfortunate bargain, which is certain to attach to those voluntarily assuming such a duty. Unanimity of opinion in regard to the best method of conducting a joint business upon roads connecting with each other, will doubtless be best secured by giving to the same parties the management of each. But before the roads are finished, and particularly if the interests of each be adverse to the other, there is no necessity for any such arrangement, and there is an impropriety in anticipating it. The Committee think that hereafter, if 54 illustration of the truth of this position be necessary, the joint representa- tion of the Central and the Canada may be cited as an example. Besides these expenditures, the Central has, until the present time, with their engines, officers and men, aided in the actual construction of the Canada Road. For the use of the engines and cars the Central may have been paid up to July 1, 1851, although the Committee have found no dis- tinct evidence of the fact. But since that time, no payment has been made on this account, nor has any payment been made at any time, for the services of the officers of the Central whilst thus occupied. The Committee consider these expenditures of money made directly and indirectly for the Canada Road, — taken in connection with the fact that when constructed and ready for use, the Central was to pay as rent for that road, the sum of eight per cent, per annum upon its whole cost, including buildings, fixtures, and appurtenances, and were also to pay the incidental expenses, (salaries &c.) — to be unjustifiable. It almost amounts to building a road, for the privilege of paying a perpetual rent for its use. The Commit- tee are aware that it is urged, that upon the balance, constituting the charges constructed by them against the Canada road, (^Appendix Table /.) which is estimated by the committee at §252,583 14, and which will be treated hereafter under the head of losses, the Central have been obliged to pay no rent. This is undoubtedly true. But the Committee have been unable to perceive the advantage of this exemption, when purchased at the ex- pense of the creation of a debt amounting to §250,000, at least, on which in- terest at the rate of eighteen per cent, has been hitherto paid for about two years, and which has been finally extinguished by selling seven per cent. Bonds at a discount of fifteen to twenty per cent, on their par value ! Besides, who can calculate the loss to the Central, with its doubted credit, in being obliged to increase its floating debt by the addition of two millions of dol- lars at least, which they have in the aggregate advanced to the Vermont and Canada to aid in its construction ! Who can say under the sys- tem which prevailed of running the accounts of the two Roads into each other, that to build the Canada Road, the Central has not advanced large sums of money, for materials and other uses, which are not included in the charge of §250,000, above mentioned, and are now treated as constituting proper items in the construction of the Central itself ? The Committee have not been able, at this late day, to classify the different expenditures for '55 materials charged to the Central with sufficient accuracy to enable them to state positively whether any, and what portion of these materials were actu- ally used by the Canada Road ; but they regard the fact that the reputed cost of the Canada Road — of about forty-seven miles in length, built at or about the same time with the Central, including the amount of $252,583 14 which the Committee find that the Central actually contributed towards it, — would be but about $1,600,000 ; when the latter Road built by nearly the same parties, is one hundred and seventeen miles in length, and has cost about $6,225,000, (after deducting the above sum of $252,583 14, and making due allowance for the losses by Belknap and Quincy, and cost of equipment) - as not devoid of a significancy which the comparative expenses caused by the nature of the country traversed by the respective Roads will not altogether account for ! THIRD. The Capital and Funded Debt of the Vermont Central Railroad; and herein A. Its Capital Stock ; the par value of the various issues of its Stock ; and how the Stock has been paid for. B. Its Bonds ; their respective issues ; the mode in which they have been disposed of, and the prices realized from the same. A. — The Capital Stock and Funded Debt. The Capital Stock and Funded Debt of the Company stands thus, on the first day of July, 1853 : — Stock, $5,000,000 Bonds issued, .... 3,024,300 Bonds to be issued, . . . 475,700 The Committee do not think it material to state at length all the trans- actions connected with the issue of the Stock ; for they do not consider them of sufficient importance to be particularized. They refer to their Tables annexed for such details. (^Appendix, Table II.') The issues in fact may now, in reference to the present condition of the Corporation, be con* sidered to be — 56 1st. 20,000 Shares at $100 representing $2,000,000 2d. 25,652 a u 50 1,282,600 3d. 4,348 n a 50 ‘‘ 217,400 4th. 50,000 u a 30 “ 1,500,000 100,000 a “ 5,000,000 Giving for the 100,000 shares now in existence, an average of $50 each. The Committee deduce this result from the Stock books and the books of Stock Certificates of the Corporation ; and after considerable labor, they have, as they believe, proved the accuracy of the above statement. Upon their first examination of the Stock account, as it then stood on the Compa- ny’s Records, they found an apparent over issue of 21 92 shares ; but con- tinuing their investigation further, they at length discovered that this appa- rent over issue, with the exception of one case, when five shares only were involved, originated in a series of errors in the accounts, which the Com- mittee were enabled to correct. These errors, caused by the inaccu- rate manner in which the books had been kept in 1850, (Yol. 1 ;) in some instances not only appeared in accounts which had been trans- ferred, but the erroneous entries themselves bore checks ” or marks, in- dicating that, at some preceding examination, they had been proved to be correct 1 In justice to the Clerks of the Company, it is proper to observe, however, that the task of keeping accurate accounts of the transfers of Stock in a Corporation like the Vermont Central Railroad, when one hun- dred thousand shares are the subject of daily speculation, and transferd either directly or as collateral security, and where thousands of shares may be said to change hands daily, is very great : and the performance of it requires much labor and care on the part of the Clerks having charge of these books. At the time that these errors occurred, there was not, in the opinion of the Committee, sufficient force in this department, to ensure the accuracy requisite in so important a branch of the business. In respect to the five shares above referred to, they were found to have been over issued to a Broker, through the mistake of one of the Clerks, by whom the number of shares standing to this party’s credit was over esti- mated. The gentleman, to whom this over issue was made, promptly rec- tified the error, upon information of its existence. 57 There have been, at various times, more than the above number of Sliares issued, by the authority of the Directors ; issues for more than 100,000 Shares having been originally authorized. But the Directors from time to time, as other means for the payment of the Company’s debts were called into existence, purchased in these surplus Shares with the funds of the Company, until their number was reduced to 100,000. The mode by which these purchases were made, seems to the Committee to have been justifiable ; and they do not think it necessary to allude to them in detail. The Shares were generally purchased at a less price than that originally re- ceived for them by the Corporation, Avho may, so far as this transaction ex- tends, be considered gainers by the operation. The Committee, in this connection, feel bound to state, that by the books it appears that the Company sustained a loss in the years 1847-8, from the defalcation of one their earlier Clerks, who, in some instances, retained to his own use moneys received from the sale of the Company’s Stock. This is the only instance of the kind, however, which the Committee have discovered, and the amount is comparatively small. They feel confident that the Stock account as corrected by them is now accurate — 100,000 Shares, — of which number 585 are yet held by the Company as security for assessments still unpaid, and 1846 are now owned by the Corporation as “ forfeited Stock.” The statement made in the Appendix will show the details from which this result is obtained. The Committee, to test the accuracy of the Stock account, have exam- ined the Certificate and Transfer books of the Stock, to see whether the Certificates supposed to be outstanding did in fact correspond with the record of the same upon the Stock Ledger. This examination was made by comparing the margin of each Certificate cut out of the Certificate books, with the cancelled Certificates on file ; and then by comparing the list of those Certificates cut out of the books, but not on file, as cancelled, or otherwise accounted for, with the list of Certificates shown by the Stock Ledger to be outstanding. The result of this comparison was not entirely satisfactory, as the two lists did not exactly correspond ; but the Committee, from other sources of information, infer that most of the Certifi- cates unaccounted for, were destroyed or mislaid, and they do not think it possible that any adverse claim will be made upon them. In some of these instances, the Certificates are credited as returned upon the Stock Ledger ; 8 58 the remainder were undoubtedly returned to the Transfer office in New York, established by this Company, but were never forwarded to the office here. This office has long been given up. The Committee feel bound to state, however, in this connection, that there have been unauthorized over-issues of Stock ; but these Shares have been returned, and without loss to the Corporation. The Committee do not think it necessary, now that the errors have been rectified, to give any statement of the particulars connected with them. For they cannot be- lieve that the interests of the Stockholders now require it. The parties receiving the Shares doubtless took them in good faith ; and their issue may be accounted for easily by the unsatisfactory manner in which, at that time, the accounts of the Corporation were kept, the Company being constantly exposed to losses of this nature ; and their final escape from which, with the exception of the case before alluded to, goes far to prove the personal integrity of the Clerks who had so many opportunities to defraud the Company, of which no advantage was taken. B. — Its Bonds. Their respective issues ; the mode in which they have been disposed of, and the prices realized from the same. The Vermont Central Railroad has, from time to time, issued Bonds to the following amounts, for the payment of its floating debt, and interest to its Stockholders, namely, — $595,700, payable July 1st, 1852. $27,200, payable October 1st, 1854. $278,100, payable January 1st, 1856. $2,000,000, payable November 1, 1861, and secured by the first Mortgage of the Road. $1,024,300, payable July 1,1867, and secured by the Second Mort- gage of the Road. Of this latter class of Bonds, $475,700 remain to be applied to the ex- tinguishment of the floating debt, and to complete the construction of the Road — the whole issue authorized being $1,500,000. The Bonds payable in July 1, 1852, have been paid, and taken up by the Company, with the exception af $12,000. 59 (Note. Since the date of this Report, $10,000 more of these have been takenTup and paid by the Company.) Those payable in 1854, were redeemed by the Corporation to aid, as it is believed, the sale of their Bonds secured by Mortgage. The Bonds payable in 1856 were issued principally in payment of inter- est due the Stockholders upon their subscriptions to Stock ; although $44,300 were sold for cash. Of these Bonds due in 1856, $64,700 have been bought up by the Company, and the balance of this issue is, by their vote, to be paid by the sale of a sufficient amount of the Second Mortgage Bonds on hand. The $2,000,000 of First Mortgage Bonds so called, (although in fact this Mortgage is subsequent to that by which the payment of the rent due the Canada Road, is secured,) constitute the whole of this issue authorized by the Company. They are all held by purchasers. In regard to the ‘‘ Second Mortgage Bonds,’’ so called, one million and a half of them was authorized by the Company. Of these, about one million only has been sold up to the present time. But Bonds of this issue, to the amount of $194,300, are now outstanding as collateral secur- ity to notes payable. The Bonds now outstanding, on which the Corporation is responsible, may be thus estimated : — $12,000 213,400 2 , 000,000 1,024,300 Bonds due in 1852, Bonds due in 1856, 1st Mortgage Bonds, 2nd do do The Bonds of this latter issue pledged as collateral, are not here con- sidered to be a debt of the Company, as the notes secured by them con- stitute part of their liabilities, which are treated of elsewhere. The examination of that portion of the transactions of the Company relating to these Bonds and their issues, occasioned more difficulty, if pos- sible, than any other branch of the investigation ; and occupied the Com- mittee a great length of time. It was of the first importance, in order to estimate the liabilities of the Company, that the amount of their outstand- ing Bonds should be accurately ascertained ; and to this work the Committee 60 first directed their attention, hoping to receive considerable assistance from the books of the Corporation, which they supposed would of course contain a reasonably correct record of the Bonds issued from time to time. To their astonishment, however, the Committee found, that, as to a great por- tion of the Bonds due in 1852, no such record had been kept ; or if it had been kept, the Committee have been unable to find it. The account of these Bonds due in 1852, had, it is true, been correctly kept during Mr. Walley’s administration, which was terminated by his sickness in 1848. But during this period, a comparatively small number of the Company’s Bonds had been sold. Mr. Walley was succeeded by Mr. Daniel White, who was at that time one of the Directors, and who, by a vote passed October 24, 1848, was authorized to exercise the powers of Treasurer, during the time ‘‘ Mr. Walley should be absent.” Mr. Walley sent into the Board of Directors a letter of resignation, which was accepted March 12, 1849, when Mr. William Warner was elected Treasurer pro tern.” Mr. Warner continued to act until Mr. Josiah Quincy, Jr. entered upon the duties of that office, on the first of September 1849. The Committee are forced to believe that no Bond book ” whatever of these Bonds had been kept, from the time of Mr. Walley’s illness, up to the 1st of September, 1849 ; although in one instance during this period, an issue to the amount of 311,200 was made to Mr. S. F. Belknap, as a loan. Of this issue no original entry appears ! The difficulty caused by this neglect, had been severely felt by the Corporation, previous to the appoint- ment of the Committee, and efforts had been made to procure a list of such of these Bonds as were then outstanding. Mr. J. W. Seymour, one of the Clerks of the Company, had been able, from the journal and cash entries, and from papers on the files, to obtain a partial account of the missing Bonds. This list so made up by Mr. Seymour, reflects much credit upon his clerical skill and industry, and it proved of considerable assistance to the Committee, although it was far from com- plete. There had been also entries made in the Bond book of the Compa- ny, relating to the 1852 Bonds,” which had been sold by the Company during Mr. Quincy’s administration. During that period, however, but very few of these Bonds had been disposed of. To ascertain the amount of outstanding Bonds of this issue, the Commit- tee were forced to trace them by means of the Coupons which had been 61 paid ; and these, in some instances, were paid by checks, against which entries were made, showing the numbers of the Bonds to which the Cou- pons had been attached, and the names of the parties to whom the Checks were given. Copies of letters were also discovered in the letter books, showing that Bonds, bearing certain numbers, had been sent for signature to the President, and returned signed by him. By these means, in con- nection with the different accounts of the printers, found amongst the vouchers, giving, in some instances, the number of blank sheets printed by them for this issue, and various memoranda found on the files of the Com- pany, signed by the Finance Committee, to the effect that certain of these Bonds had been returned and destroyed, the Committee were at length able to construct an account, upon the accuracy of which they felt willing to rely. This accuracy was satisfactorily tested by the presentation of the Bonds and Coupons, on and after the first of July, 1852, which verified their accounts previously made up. A table of these Bonds is annexed, (^Appendix^ Table III.') which will show in detail the consideration received for each ; and it will be observed that a portion of these Bonds, (namely, to the amount of $70,900,) was pledged by Mr. Josiah Quincy, Jr., as collateral for his own notes, which notes have been paid by the Company to enable them to regain their Bonds. Bonds Payable in 1854. These Bonds have been redeemed by the Company as has before been stated. A considerable amount, namely, $355,000, was pledged by Mr. Josiah Quincy, Jr., as collateral for his individual notes, which have also been taken up by the Company. A table of these Bonds is an- nexed, which will show in detail the objects for which they were respec- tively issued. (^Apipendixy Table III.) Bonds Payable in 1856. These Bonds were issued originally for the purpose of paying the Stockholders their dividends of interest, to which, by the terms of sub- scription, they were entitled under a vote passed May 9th, 1850, as follows : — “ Voted, That the Treasurer is further directed to issue Bonds of the Company, payable in six years from the first day of January 1850, with Coupons of interest payable semi-annually, said Bonds to be issued in pay- ment of such interest dividends to Stockholders, as have not been other- wise provided for, and in sums of even hundred dollars.” Under a subsequent vote of the Company, however, passed March 18th, 1851, to the following effect, — ‘‘ Voted, That the Finance Committee be authorized to dispose of the Company’s Bonds of the same tenor and date as those heretofore issued by this Company, to an amount not exceeding five hundred thousand dollars, on such terms as they may think for the interest of the Company, and that the proceeds be paid to the Treasurer, for the purpose of reducing the Company’s floating debt, and paying for additional motive power,” — the Officers of the Company sold Bonds of this issue to the nominal amount of $44,300. Mr. Quincy had pledged $28,000 of these Bonds also, as collateral to his individual notes, which have been paid by the Company. To ascertain the mode in which these bonds have been negotiated, reference may be had to the annexed table, (^Appendix, Table HI.') The Bond books” of the issues of 1854 and 1856, though not kept in so satisfactory a manner as could have been wished, were substan- tially accurate. In the accounts of the Bonds of 1856, some clerical errors were discovered and corrected. First and Second Mortgage Bonds. The books relating to these two issues, have been well and regularly kept, one clerical error alone having been discovered in the accounts of the Bonds under the first Mortgage. The Committee annex tables of the First Mortgage Bonds, to show the prices realized from their sale, and the uses to which they have been put. (^Appendix, Table III.) No Table has been made by the Committee, of the Second Mortgage Bonds, as the account was not closed on the books, and it was not thought sufficiently important to give a partial statement. The Committee have carefully compared the Bonds which have from time to time been paid by the Company with the Tables before referred to, and by this means, and by an examination of Coupons when presented for pay- 63 merit, they feel satisfied that their Tables are substantially accurate. In regard to the Bonds said to be ‘‘ destroyed,” the Committee have assumed the certificates of the Finance Committee, found on file to that effect, to be true ; and as some time has now elapsed since these Tables were made up, and no Coupon or Bond has been presented for payment, other than those which by these Tables the Committee presume to be outstanding, they feel confident that no error to any considerable amount can possibly exist. The certificates made by the Finance Committee in relation to the destruc- tion of Bonds, are made with much apparent care, and are doubtless correct. FOURTH. The Construction of the Vermont Central Mailroad^ and the prin- cipal Contracts of the Corporation relating thereto. The Cost of the Road^ and of its Equipment, and their Present Value. The Losses charge- able to this head, and herein : A. The Loss sustained through S. F. Belknap. B. The Loss sustained through Josiah Quincy, Jr. The Vermont Central Railroad, as we have seen, is located in the State of Vermont, extending from Windsor to Burlington, a distance of one hundred and seventeen miles. The Directors determined on the 28th of August, 1845, that the inter- ests of the Company required that ‘‘ the entire line of the Road should be put under contract as soon, and that the work should be urged to a com- pletion with as little delay, as is consistent with due regard to economy.” Proposals for constructing the Road &c., were received from different quarters, and considered, as is usual in such cases. S. F. Belknap was an applicant. The Road was divided into seven sections. These were undertaken by Mr. Belknap, by whom two were underlet to Berry Thomp- son & Co., with the consent of the Corporation ; who, thereupon released Mr. Belknap from responsibility, on these two sections, and made with him a Contract for the construction of the Road, which was adopted by the Board, January 17, 1856. But the prices fixed by this Contract giving dissatisfaction to Mr. Belknap, a new Contract was made between him and the Corporation, November 16, 1846. These Contracts are in the following terms : 04 ARTICLES OF AGREEMENT Made this twenty-fifth day of November, in the year 1845, by and between Sewell F. Belknap, of Concord, in the County of Middlesex and Commonwealth of Massachusetts, Contractor, of the one part, and the Vermont Central Railroad Company, by their President, of the second part, VvTtness : — That for and in consideration of the payments and covenants hereinafter mentioned, to be made and performed by said Corporation, the said party of the first part doth hereby promise and agree to execute, construct and finish, in every respect, in the most substantial and workmanlike manner, and to the satisfaction and acceptance of the Engineer of said Corporation, the grading, masonry and bridging of the entire Vermont Central Railroad, commencing at some point on the eastern shore of Lake Champlain, at Bur- lington, Vermont, and extending as at present located by the Board of Directors, or as it may be located by said Board, or by the Engineer, to a point opposite Chase’s Island, or to any other point in Windsor, or in any other town on Connecticut River below Windsor, at which point the Direc- tors of the Vermont Central Railroad Company may hereafter locate this Road, for the purpose of connecting with the Cheshire Railroad. And the said Vermont Central Railroad shall be made and completed as described in the following specifications, on or before the thirty-first day of January, in the year 1848. 1. Under the head of Grading shall be included all excavations and em- bankments required for the formation of a road-bed for a single track, and all necessary turn-outs ; also the preparation of all such Depot grounds, sites for W'ater stations, &c., as shall be required by the Engineer, the dig- ging of all ditches, the foundations for masonry, and bailing water from the same, changing the directions of streams, and all other excavations and embankments in any w^ay connected with, or incident to, the construction of the Railroad. 2. All grading shall be done and estimated by the cubic yard, measured in excavation, and shall be comprised under the three following heads, viz : earth, rotten ledge, and solid ledge. 65 Earth shall include every thing but rotten ledge and solid rock. Rotten ledge shall include such as can be removed by picks and bars, without blasting, and measuring more than twenty cubic yards. Solid rock shall include all stones measuring more than twenty yards, and all ledges which cannot be taken out without blasting, or splitting by means of hammers and wedges. 3. The Road shall be graded for a single track, (except at Depots, Turn-outs, and other places hereinafter provided for,) with a road-bed of such width, and slopes of such inclination, as the Engineer shall designate ; and in conformity to such depths of cuttings and fillings, and to such de- markations as may have been, or may hereafter be, determined and fixed upon as guides and boundaries for the work. 4. The surface of the Road when finished off, and at grade, shall, — ex- cept when the Engineer shall otherwise direct, — be sixteen feet wide on embankments, twenty-six feet wide in earth excavations, and tv/enty feet wide in rock excavations. The road-bed shall consist of free sand or gravel, to the depth of at least two feet, and when other materials shall be found in the excavations, — as also in all other cases when the Engineer shall deem such course necessary, — the embankments shall first be raised to within not less than two feet of grade, and afterwards, the sand or gravel required for finishing the same, as also for the road-bed in the excavations, shall be taken from such place or places on the line of the Road or adjacent thereto, within the limits of the section, as the Engineer shall designate ; provided, that after such sand or gravel shall have been placed upon the Road, no clay or other earth unsuitable for the road-bed shall be hauled over it. In case no sand or gravel, suitable, in the opinion of the Engineer, for the road-bed, can be obtained on any section, or sufficiently near the same to be made available, or in case such sand or gravel cannot be obtained from land holders on terms satisfactory to the Corporation, then such sections shall be finished off according to such grades as the Engineer shall establish. 5. All clearings, grubbing, ditching, draining, &c., that may be required on the sites of the excavations, embankments, depots, &c., shall be done, and the trunks, tree tops, and other rubbish shall be removed to such dis- 9 66 tance, and disposed of in such manner as the Engineer may direct, and no extra charge or allowance shall be made therefor, it being expressly under- stood that the expenses attendant upon doing all such work are included in the price per yard to be paid for grading ; and in reference to grubbing, it is understood that all roots, stumps, &c., found on the sites of the em- bankments, when not more than three feet below grade, shall be grubbed up and removed beyond the limits of the embankment. 6. The earth, gravel, and other materials, except stone suitable for ma- sonry and other purposes, taken from the excavations upon any section, shall be used and applied in the formation of embankments on the same section, and when the quantity of materials taken from any excavation shall be greater than that required to make the embankments of the usual width, the surplus shall be deposited on one or both sides of the embankments in such manner as to increase their width uniformly, or in such manner as the Engineer shall direct. In cases where the quantity of materials taken from the excavations in any section, shall not be sufficient for the formation of the requisite embankments, the deficiency shall be supplied by materials taken from the adjacent grounds, at such places as the Engineer may desig- nate, or from an enlargement of the excavations made equally and uniform- ly on one side or both sides of the same, or in such other manner as the Engineer may deem necessary and proper ; and the sides of the excava- tions, in all such cases, shall be dressed off to such slope as the Engineer shall require : provided, that if the Contractor shall have sloped such exca- vations according to the directions of the Engineer, before widening the same, he shall receive for sloping the second time, such compensation as said Engineer may deem fair and reasonable : provided, also, that no Con- tractor shall be required to supply the deficiency of materials last referred to at an expense of haul greater than the average haul of the section. 7. Whenever the route of the Railroad is traversed by public or private roads, commodious passing places shall be kept open for the accommodation of all having occasion to use them ; and whenever excavations or embank- ments may be required in order to establish or maintain such passes or crossing places, the Contractor engaged on the section traversed shall pre- pare such passing places in such manner as the Engineer shall direct, and 67 keep them free from obstructions ; and whenever the route of the Railroad shall approach so near to any public or private road as to render necessary the discontinuance of the same, and the construction of a new road, all ex- cavation and embankment required in the construction of the same shall be done by the Contractor, according to the direction of the Engineer, and, in payment for the same, as well as the work done at the crossing places above named, he shall receive the same price per yard as for other grading on the section. 8. All stone taken from excavations shall be removed to such places, within the average haul of the section, as the Engineer may designate, and such stone shall be the property of the Corporation. 9. The location of any portion of the Road may be altered whenever the Engineer may consider such alteration necessary and expedient ; and if said alteration be made on any section, or part of a section, before the commencement of the work thereon, the contractor’s prices shall remain the same ; if made afterwards, such allowance or deduction shall be made therefor, as the Engineer may judge fair and equitable to both parties. 10. All masonry shall be done and estimated by the cubic yard, and shall be included under the three following heads, viz : Bridge Masonry, Culvert Masonry, and Arch Masonry. Bridge Masonry shall include all abutments, piers and other walls, (except bank walls) more than six feet high. Culvert Masonry shall include all side or bank walls, and all other masonry whereof the walls do not exceed six feet in height. Arch Masonry shall include all arches. The stone used shall be of a hard and durable quality, of good size and shape, and such in all respects as the Engineer shall approve. 11. The Culvert Masonry shall also be laid in a strong and workmanlike manner, according to the plans and directions of the Engineer. The cov- ered culverts will not be less than two nor more than six feet wide, the covering stones shall have a good bearing of at least one foot in length on each wall, and for all culverts not exceeding three feet wide shall be at 68 least one foot thick ; for Culverts from three to four feet wide, fifteen inches thick ; and for all others, eighteen inches thick. The Culverts shall have a good substantial paving, whenever the Engineer shall consider the same necessary, the stones to be of such size as to make the paving of the required thickness without placing one upon the top of another, to be very closely laid, the interstices between the large stones filled with smaller stones, and the whole well rammed or hammered down. The ends of the Culverts shall be secured from undermining, in such manner as the Engi- neer may designate. The whole to be measured >by the cubic yard. 12. The proportion of headers and stretchers in the different kinds of masonry, shall be such as the Engineer shall prescribe ; and the headers shall extend through all wails not exceeding four and a half feet in thick- ness. At least one half of the stones in the top course of the walls of covered Culverts, shall be headers, and all the stones in the top course of all other walls not exceeding four and a half feet thick, shall extend entirely through the same ; and no stone in such top course shall be less than six inches thick. The joints shall be well broken according to the direction of the Engineer. 13. The arch and bridge masonry shall be epcuted in the best manner, according to the plans and directions of the Engineer ; said masonry may be of two kinds or qualities, either of which may be adopted at the discre- tion of said Engineer. In work of the first quality, the stones shall be dressed on the beds and builds, in such a manner as to have a good bear- ing upon each other throughout, and laid in regular courses or ranges. Work of the second quality, may be laid in irregular courses, after the manner of rubble work, but with the utmost regard to strength, — the stones having a good bearing upon each other, no chips, pinners, or other stones being used, that may by any means be crushed. 14. The price paid per yard for masonry, shall in every case include the furnishing of all materials, and the transportation of the same to the place where wanted, the cost of all scaffoldings, centerings, &c., and the preparation of all roads and bridges that may be required, in order to trans- port the stone or other materials to the work. 69 15. No claim for detention on account of the work not being laid out in season, shall he allowed, unless the Engineer shall have been notified, in writing, of the want of such work, at least three days previously to the commencement of such alleged detention. Nor shall any claims be made or allowed for extra work, unless the same shall have been done in pursu- ance of written contracts or orders, signed by the Engineer ; and all claims for work done under such written contracts or orders, or on any other account, shall be presented for settlement, on or about the beginning of the month following that in which said work may have been done, or at any other time within three days after the Engineer shall have demanded the same ; and in case of failure so to present them, the Contractor shall forfeit all such claims, and hereby is pledged not to present them in any way afterwards. 16. The length of any sections may be either increased or diminished by the Engineer, upon the same conditions that the location of a portion of the road may be altered, as stated in the ninth specification above. 17. The Corporation will assure a right of way over the premises of land owners, so far as may be necessary to afford the Contractors convenient access to their work ; but the Contractors shall be responsible for all damage done to such premises, in consequence of leaving gates or fences open ; and also for all depredations upon fences, wood-lots, or other pro- perty, by the workmen in their employ. And for a failure to make and complete the grading, masonry, and bridging of said entire Vermont Central Railroad, within the time fixed for its completion, the Engineer shall assess such damages as he may think just and reasonable, and charge said party of the first part with the amount thereof, or the said Engineer may employ other help to hasten the comple- tion of the work within the said specified time, and the expense of such help shall be paid by said party of the first part. Or in case it should appear to said Engineer, that the work had not progressed with suflicient rapidity, he shall have the power to determine that this contract has been abandoned, and in event of such determination, this agreement, on the part of said Corporation, shall become null and void, and any balance of money 70 due shall be forfeited by the said party of the first part, to the said Corpo- ration ; and the said Engineer shall have full right to contract with any per- son or persons, instead of the said party of the first part, his heirs, executors, administrators or assigns, for the completion of said work ; and the said party of the first part hereby covenants and agrees, that he will not molest, hinder or interrupt the said Corporation, or those employed by them, in the prosecution of said work. And the said party of the first part shall not let or transfer this Contract, or any part thereof, or sub-let any part of the work to any other person or persons without the consent of the said Engineer. — And to avoid disputes, interruptions and hindrances to the regular and peaceable progress of the different parts of the work, and to prevent unnecessary injury to the rights, property and persons of residents in the vicinity, or of persons traveling on or near the line of said Vermont Central Railroad j said Engineer shall have power to dismiss from the service of the said party of the first part every quarrelsome, disorderly person, and such as shall be addicted to habits of intemperance, and the said party of the first part shall not employ any per- son who has been so dismissed from the service of any other Contractor ; and furthermore, the said party of the first part shall not sell or furnish spirituous liquors either to persons in his employ, or to any other person or persons on or near the line of said Road. This provision is understood as prohibiting entirely the use of ardent spirits, as above, and its infringements will subject the said party of the first part to the dismissal and forfeiture hereinafter mentioned. In condition of the fulfilment by the said party of the first part, of the foregoing provisions of this Contract, the said Charles Paine, President, for and in behalf of the Vermont Central Railroad Company, hereby promises and agrees that the said Corporation shall and will, for do- ing and performing the work, as aforesaid, pay, or cause to be paid to the said party of the first part, his heirs, executors, administrators or assigns, at such rate for each description of work stated in the Proposals ” hereto annexed, as Charles Paine, Robert G. Shaw, Jacob Forster, John Peck, S. M. Felton, J. C. Chesbrough, and William Beckwith, or a majority of their number, shall decide to be a fair and reasonable price for doing the work aforesaid, as set forth and described in these “ Articles of Agree- ments ” and “ Proposals.” A. — [See Page 72.] 71 The payments within the limits of this Contract shall be made as follows : Between the first and tenth day of each month, after the commencement of the work, said Engineer shall estimate the quantity of work done, and give a draft on the Treasurer of said Corporation for three-fourths of the amount then due for said work, which draft, approved by the President of said Company, shall be paid to the said party of the first part, on presen- tation to the Treasurer of said Corporation. Provided, however. That no estimate shall be made or draft given, within one month after the com- mencement of the work ; and provided, also, that no draft for a less sum than five hundred dollars shall be given, except at the discretion of the Engineer. And when the whole of the work on said Road, said Belknap here- by contracts for, shall have been accepted, agreeably to contract, the balance due shall be paid to the said party of the first part, his heirs, executors, administrators or assigns. And the Engineer shall be the sole judge of the quality and quantity of all the said work herein specified, and from his de- cision there shall be no appeal. And it is hereby further agreed, that if the said party of the first part shall not, on his part, well and truly perform all the covenants herein con- tained, said Engineer may dismiss him from the work, and, in that event, this Contract shall become null and void ; and any balance for work done on said Road, which would have been due the said party of the first part, shall be forfeited, and become the right and property of the Corporation. In witness whereof, the party of the first part has hereunto set his hand and seal this twenty-fifth day of November, A. D. 1845, and the Vermont Central Railroad Company, by their President, have signed the same the same and year, and caused the same to be authenticated by their com- mon seal and countersigned by their Treasurer. (Signed) 8. F. BELKNAP. [L.S.] In presence of (Signed) Joseph Bell, witness to S. F. Belknap and S. H. Walley, Jr. signatures. Vermont Central Railroad Company^ (Signed) Per CHARLES PAINE, Pres. [L.S.] Witness for Charles Paine, (Signed) H. A. Ueann. (Signed) SAMUEL H. WALLEY, Jr., Treas. [L.S-] 72 A. — [See bottom Page 70.] Viz. for grading per cubic yard ; earth so much ; rotten ledge, do. ; solid ledge, do. ; for masonry, per cubic yard ; bridge masonry, first quality, do. ; bridge masonry, second quality, do. ; culvert masonry, do. ; arch masonry, first quality, do. ; arch masonry, second quality, do. ; and bridging so much per running foot, such prices to be determined within nine months from the date of these articles ; and in the meantime, and until such decision, the payments to be determined from time to time by the President and Chief Engineer ; it being understood and agreed, that the said Company shall have the right to control the work, and to suspend such parts thereof as they shall deem expedient, from time to time, till such time as they shall see fit to resume the same ; and it is further under- stood and agreed by the parties hereto, that the award of said Paine, Shaw, Forster, Peck, Felton, Chesbrough, and Beckwith, or of a majority of them, specifying the sum of money for each description of work as recited above, viz : grading &c., and also for bridging and for loss by reason of suspending the work on any part thereof, to be paid to said Belknap, under and in fulfilment of this contract shall be binding and conclusive, and final upon all parties hereto. It is further mutually agreed by the parties hereto, that the said party of the first part shall simultaneously with execution of this contract, let two sections of the road, which said party of the first part, has hereby agreed to construct, to Berry Thompson & Co., at the prices for which they have proposed to contract, which prices are contained in a schedule of proposals ” hereto annexed, marked B. ; it being understood and agreed by the parties hereto, that the said party of the second part, guar- antees the execution of the work by said Berry Thompson & Co., that is, that said party of the first part, shall not be held responsible for the fulfil- ment of the contract of said Berry Thompson and Company, on their part ; and further, that said Berry Thompson & Co., shall agree to con- form to the rules of said party of the first part, as to price of labor, &c., which shall be for the mutual benefit of the Company and the Con- tractors ; the said party of the second part, to take and hold the Bonds of said Berry Thompson & Co., for the faithful performance of their con- tract, according to the terms of their said proposal hereto annexed, marked B. [See Page 73.] 73 \ COMMONWEALTH OF MASSACHUSETTS. Suffolk ss., Dec. 3, 1815. Then personally appeared' Sewell F. Belknap, and acknowledged the within Contract bj him sabscribed to be his free act and deed. Before me, (Signed) JOSEPH BELL, Justice Peace. COMMONWEALTH OF MASSACHUSETTS. Suffolk ss., January 7, 184j. Then personally before me appeared Charles Paine, President of the Vermont Central Railroad Company, in behalf of said Company, and as President of said Company acknowledged this Contract by said Company subscribed, to be the free act and deed of said Company. . BS. — [See rottom Page 72.] VERMONT CENTRAL RAILROAD PROPOSALS. Division. 1 Section. 1 Grading, 1 Eartli. 1 i Ao'W’ 2 lOi 3 9| 4 9| 5 91 6 10 7 81 S, per Cubic Yard. Masonry, |)er Cubic Yard. 28c 28 28 28 28 28 28 49c i 48 46 45 44 56 43 1st Quality. 50 3 50 3 50 3 50 3 50 3 50 3 50 Hridge .Masonry Culxert Arch Mason- , Arcli Mason- 2d Quality. Masonry. ry 1st Quality ry 2il Quality. $2 50 ~ “$3~75 ” $!2 50 2 00 1 40 3 75 2 50 2 00 1 40 3 75 2 50 2 00 1 40 3 75 2 50 2 00 1 40 3 75 2 50 2 00 1 40 3 75 2 50 2 00 1 70 3 75 2 50 The undersigned hereby propose, to the President and Engineers of the Vermont Central Railroad Company, to build and complete the grubbing, clearing, grading, masonry, &c., &o,, on either or all the divisions to uliich prices are affixed, in the schedule above, according to the terms of the printed contract, and specifications herewitli fumislied, and on the acceptance of this proposal, for all or cither of said sections, do hereby bind ourselves to enter into and execute a contract in said form furnished, and give the required bond and surety to perform the said work for the prices above named. (Signed) Northjield^ Vt., Nov. 5, 1845. BERRY THOMPSON & Co. Contractors. 10 » T4 The undersigned, a Committee appointed by the Directors of the Ver- mont Central Railroad Company, and charged with completing the contract with S. F. Belknap, on the terms proposed by him, and accepted by the Board of Directors, hereby assent to the within Contract, and request Charles Paine, President, in their behalf and in behalf of the Company, to execute the within, by signing, sealing, and acknowledging the same, inclu- ding the submission of all questions under this contract to reference as herein provided. (Signed) Ch.\kles Paine, Com. Sameel H. Walley, Jr., Treas. Samuel M. Felton, Engineer. James R. Langdon, Com. Boston^ Nov. 25, 1835. The work proposed is of such magnitude that a slight change in the price of labor will greatly effect the amount to be paid out by the Con- tractors, and as the movements in Europe are likely to change the whole price of labor, both here and there, I propose to do the grading, masonry, &c., of the whole of the Vermont Central Railroad, agreeable to their printed contract and specification, the price to be determined within nine months from present time, by the Chief Engineer, the President, not less than two Directors and two of the resident Engineers, to be designated by the Directors when it shall be better known what the prices of labor will be, and also what the new crop will be the next season. This arrangement will give to both the Company and myself, an opportunity of ascertaining the true character of the material and work, and what is a fair and reason- able price for doing the work, and such as will undoubtedly be satisfactory to both parties. In the meantime, the payments to be determined from time to time by the Chief Engineer and President. The Company shall have the right to control the work and suspend such parts of the work as they shall deem expedient from time to time. The undersigned, hereby propose to the President and Engineers of the Vermont Central Railroad Company, to build and complete on either or all the sections, to which prices are affixed in the Schedule above, accord- ing to the terms of the printed contract and specifications herewith fur- nished, and on the acceptance of this proposal, for all or either of said 75 sections, do hereby bind, to enter into and execute a contract in said form furnished, and give the required bond and surety to perform the said work for the prices above named. (Signed) S. F. BELKNAP, Boston, Nov. 21, 1845. Contractor. Boston, Nov. 22, 1845. I hereby agree to the following additional words to my proposition as above, that the time for determining prices shall be within nine, instead of six months, and also to the following words in the margin, as above, first, “ and not less than two Directors,” second, and President.” (Signed) S. F. BELKNAP. I hereby agree that the following named persons. Directors and Engi- neers, shall and hereby are fully authorized to determine and affix the several prices to my proposition within named, and that their decision shall be final and conclusive upon the parties hereto, to wit : Charl s Paine, Robert G. Shaw, Jacob Forster, John Peck, ^ Directors. S. M. Felton, 1 J. C. Chesborough, j- Engineers. Wm. Beckwith, J (Signed) S. F. BELKNAP. The Committee to whom this proposal was referred, hereby accept the within proposition, and the Chairman notify Mr. Belknap of its acceptance. (Signed S. S. Lewis, Charles Paine, Samuel M. Felton, Jacob Forster, Daniel Baldwin. Boston, Nov. 22, 1845. 76 Under these Contracts Mr. Belknap proceeded to construct the Bead, until the Spring of 1849, -when the President was authorized by the Board to prosecute the work during Mr. Belknap’s sickness or absence.” On or about the 8th June, 1819, however, the Directors decided “ that Mr. Belknap had abandoned his Contract,” gave him notice accordingly, and the Road was from that date constructed under the direction of Mr. Paine, the President, to whom authority was given for the purpose. As Mr. Belknap failed at or about that time, the interference of the Directors became necessary. The Corporation has also suffered heavy loss from casualties and other < : 1 L ^ A : I. — Losses by fire at Windsor, West Alburg, and by the two fires which occurred at Northfield. No esti- mates appear to have been made of the loss by either of the first three of these fires. The last fire at Northfield was estimated at §118,553 98, of which §20,000 was repaid to the Company by Insurers, leaving the loss sustained in this in- stance by the Corporation . - . . II. — Losses by freshet in July, A.D. 1850, which amounted to III. — Loss by S. F. Belknap, on Bonds lent him, monies over advanced, and on Stock to Avhich he was a sub- scriber at par, but had failed to pay assessments upon in full ; which loss 4ie Committee estimate at IV. — Losses upon forfeited Stock, or Stock on which assess- ments have not been fully paid, and on Stocks received in exchange for Stock and Bonds sold by the Company, ..... V. — Discount on the sale of Bonds amounting to VI. — Interest amounting to ..... VII. — Amount paid for the construction of the Vermont and Canada Railroad, which has not been refunded to this Company, estimated at . VIII. — Losses by change of allignment of the Road . unimportant. §98,553 98 32,803 06 500,000 00 369,857 67 528,556 18 763,957 68 252,583 14 77 IX. — Loss by Joslah Quincy, Jr., after deducting value of Assets received from him, and without computing interest, say, $295,205 46 The Cost of the Road (exclusive of equipment) estimated July 1st, 1853, including these items, is . 7,270,650 37 As an offset, however, to a certain extent, the Company has its claim against the Vermont and Canada Road, which, if paid, will go to the credit of Construction account, to the amount of . 252,583 14 The equipment of the Road has cost .... 801,630 68 To represent this cost of Road and equipment there are — 100,000 shares Stock at an average of $50 each, . 5,000,000 00 1st Mortgage Bonds due in 1861, .... 2,000,000 00 2d “ “ ‘‘ “ 1867, .... 1,024,300 00 The Road then has cost per mile, $62,042 31, exclusive of equipment. The Committee have had a thorough examination made of the present condition of the Road and its equipment, by gentlemen of great experience in such matters, whose reports appear to be correct and reliable. They are annexed. (^Appendix^ Parrotds Report.') From a careful estimate of the value of the labor and mate- rials necessary for its construction, and also of the ex- pense incident upon building a Road through such a country, which presents great obstacles in an engineer- ing point of view, the Committee feel safe in assum- ing the value of the Vermont Central Railroad alone to be $40,000 per mile ; that is to say, they do not think that it could, under favorable circumstances, be constructed at a less cost. For the whole Road, therefore, the value would be ... . $4,680,000 00 The value of equipment for such a Road, the Committee estimate at $5,000 per mile, or . . . . 585,000 00 $5,265,000 00 78 ^Mien considering the actual value of the present Road and equipment, a proper deduction must of course be made from these amounts by the reader, to allow for deterioration, kc. This, however, should be provided for, to a great extent, by annual repairs. As respects the losses before alluded to. I. — The losses by fires which, though thought at the time to be the work of incendiaries, must of course, for the purposes of this Report, be consid- ered accidental. The Committee have obtained no satisfactory account of their origin. II. — Loss by freshet. This loss was accidental and unavoidable. The losses by freshets, and by the last fire at Northfield, were originally charged in the books of the Company to ‘‘ Construction ” account, but the Committee, in making their estimate, have transferred them to “ Profit and Loss,” and have credited the same account with the surplus earnings since the opening of the Road, after paying Rent to the Vermont and Canada, Interest on Bonds, and Expenses of working the Road. These surplus earnings amount to §99,852 19, leaving a balance charged to ‘‘Profit and Loss ” of $31,501 85 to be met by the future receipts of the Corporation. These losses, therefore, cannot be considered as an item in construction ; they are referred to in this connection for purposes of convenience, as it was thought necessary to notice them specifically in some part of the Report. By referring to the balance sheet, the reader will perceive that it is made up in accordance with this statement. A. — The loss sustained through S. F. Belhnaio, * III— The loss sustained through S. F. Belknap, on Bonds lent him, monies over advanced, and on Stock to which he was a subscriber at par, but had failed to pay assessments upon in full, the Committee estimate at about $500,000. This loss sustained through Mr. Belknap’s agency has been very large. 79 and has perhaps contributed more than any other to the financial difficulties of the Corporation. It is not attributable simply to the fact that Mr. Bel- knap failed to fulfil his contract, and that thereby the Company were obliged to finish the work at great sacrifice, owing to the advanced prices for labor and materials they were compelled to pay to complete it ; but also, and mainly, to advances and loans made to Mr. Belknap, by which this Com- pany has sunk upwards of $500,000. The former may be considered one of the risks taken by Railroad Companies, by whom work of this descrip- tion is generally let out on contract, and against which, therefore, un- der the present system of construction, it is perhaps very difficult to guard. But the latter the Committee are forced to ascribe mainly to the loose manner in which the business of the Road was done, and to the want of proper oversight and good judgment on the part of the Directors as a Board, and to the fact that they or some of them at least, were willing to sustain Mr. Belknap’s credit at the expense of that of the Corporation. Mr. Belknap was paid from time to time every thing that was due under his contract, by the terms of which as will be perceived, he was to receive monthly, seventy-five per cent of the value of the work, which the Engineer, by an estimate made from time to time, should ascertain to have been done. For this sum the Engineer was to give Mr. Belknap sight drafts upon the Treasurer ; and the remaining twenty-five per cent w^as to be retained by the Company, as security for the ultimate performance of the Contract. By the account which the Committee have drawn up, it appears that these estimates from the time Mr. Belknap began his work to June 30th, 1849, inclusive, amount to $2,053,291 04 ! and that Belknap never failed to draw for his seventy-five per cent, at or about the time when it became due : and when the Directors declared the Contract “ abandoned” on his part, in 1849, Mr. Belknap had received on these drafts, $1,539,968 28. There should then have been in the Treasury $513,322 76, to indemnify the Com- pany against the contingency of Mr. Belknap’s failure. This sum would •have been most useful for such a purpose, but the Directors had failed to reserve it. They had gone much farther ; they had not only paid him on account of this reserve, $458,964 90, but they had actually lent him Bonds to the amount of $283,200, (giving credit here for such as happened to be on hand at Mr. Belknap’s decease, and were returned by his repre- sentatives,) and on which the Company, in addition to the principal, has 80 paid $72,783 00 interest; and they had also permitted him to run in arrear to his Stock subscriptions (for ^vhieh, previously to his contract, he had subscribed at par) to the amount of $168,992 more, exclusive of inter- est ! This makes in all, as before stated, a loss, ^vhich, — including interest calculated upon his Stock subscriptions, and on paid Coupons, and deducting the value of Assets on hand as collateral security for certain other monies lent to Mr. Belknap, — amounts to at least §500,000. To say nothing of the fact, that the Company, to complete the work already estimated as ‘‘ finished,” has expended at least §100,000 more.* The Committee have annexed tables in the Appendix, ( Table IV^') show- ing in detail such of the transactions of the Company with Mr. Belknap, as they have been able to trace. Tney are well aware that the demands of the Corporation upon him were submitted to Referees, who awarded to the Company a sum, very nearly, if not exactly corresponding in amount with the value of the assets of Mr. Belknap, in the possession of the Com- pany as collateral. But after a careful review of all the papers and docu- ments on file which they have been able to discover, the Committee feel it impossible to base their estimate of the loss through Mr. Belknap, upon the award of the Referees, the difference between the two results being fully §500,000. Of the arguments used by Mr. B’s representative, the Com- mittee of course know nothing, except so far as they are loosely reported on memoranda in the office of the Company. They feel it their duty to submit their own views upon the subject without regard to the award, which cannot have any effect upon the present investigation, except so far as it renders a more careful examination of the accounts necessary, on the part of the Committee. In the account against Mr. Belknap constructed by the Committee (^Appendix he is charged with the Bonds and Coupons which he bor- rowed at par, that being the price which the Corporation were compelled to pay to regain them. * This is not the fault of the Engineer, whose estimates were made according to custom for “ finished Avork,” although in a strict sense of the word, the Avork Avas not actually complete; this tenn, in such connection, having reference to the extent of the AA'ork, rather than the state of finish. 81 Mr. Belknap is also in this account charged at par with the 5000 shares to which he subscribed, because by his subscription he agreed to pay for them $100 per share ; and this liability, by an endorsement on his contract Mr. Belknap admitted as late as November 17, 1846, about fifteen months afterwards. The Referees in their award, limited Mr. Belknap’s liability (as is believed) to the market value of the Bonds at that time ; but the Committee do not find any evidence authorizing them to draw any similar conclusion. The value assumed by the Committee for the Bonds may be too high, as they might have been replaced under par, the price being then about ninety-seven per cent. In respect to his Stock, they see no reason why Mr. Belknap should not have been compelled to fulfil the terms of his subscription, with other Stockholders. He does not appear to have hesitated to claim ail the 'privileges of a Stockholder to which they entitled him, having voted and received interest upon them. This decision is probably binding upon the Company, so far as the claim itself, or such of its items as were submitted to the Referees are con- cerned ; but the existence of the loss which the Company have in fact suffered, is to the Committee equally apparent. There were doubtless counter claims on the part of Mr. Belknap against the Corporation, but the Committee have not found any on file which are substantiated by sufficient evidence to authorize them to acknowledge their validity, with the exception of a claim for constructing a Depot at Windsor, amounting to $14,196 56, which was allowed to Mr. Belknap, and a further claim for extra work, for which he was also allowed by the Engineer $10,000 more. However this may be, the Committee are somewhat astonished at the fact, that the Referees, in an unsettled account embracing so many thousands of dollars, should have found a balance due, which so nearly corresponded with the value of Mr. Belknap’s assets in the possession of the Company ; and consider the coincidence somewhat extraordinary, if the award is to be treated as the deliberate judgment of the Referees upon the amount of the claim submitted, without reference to the means of pay- ment, which is certainly in the opinion of the Committee a distinct matter. 11 82 rV. Losses on forfeited Stock, or Stock on which assessments have been unpaid, and on Stocks received in exchange for Stock and Bonds sold by the Company, estimated at ... . ^369,857 67 These losses, though large, are not unusual. But they might have been materially diminished, had the Directors seen fit at an earlier period to sell shares now on hand, although long declared forfeit, which they might have ' done, at more than double their present market value. Votes of the Board authorizing their sale, have been passed on various occasions, and it is probable that these shares would have been sold, had not the Directors hoped to obtain for them a better price, or gain some other advantage by the delay, and the Committee do not therefore blame the Directors for the disastrous result. It would have been much better certainly to have sold the shares, and collected the balance due from the subscribers, had this been practicable. The Committee think it not improbable that the Directors doubted the responsibility of these parties, and are therefore justi- fiable for the course they adopted. It is to be hoped that these accounts will be promptly closed. The Table annexed {A]^]pendix^ Table IL') will show the number of “ forfeited” shares, and of shares now on hand on which assessments have not been paid in full. This estimate of §369,857 67, includes also the Losses on Stocks received by the Company in exchange for Stock and Bonds sold by them. The precise amounts chargeable to these exchanges are not specified in detail, because the Committee could not satisfy themselves that they had obtained sufficient information to state the number of instances in which exchanges had been actually made. For evidence upon this subject, they were of course obliged to rely exclusively upon the Company’s books, and these were not so kept as to enable the Committee to distinguish losses on exchange of Stock, from other losses under the above head. The reader will see by referring to the note at the end of the table of “ Bonds of 1852,” (^Appendix^ Table III.') that there was good reason to believe that many exchanges may in fact have occurred which are not acknowledged to be such in the Books. Nor is it very important for the purposes of this Report, that these losses should be classified, as it is known that this sum of §369,857 67, includes all losses on Stocks, and embraces of course losses by exchange. Touching these exchanges, however, the Committee find 83 they have been generally, if not invariably, disastrous to the Company. As it is their wish to construe liberally the powers of the Direc- tors, and to admit the necessity of their being empowered, in the absence of restrictive votes, to dispose of property at a loss, when they consider the interests of the Compan}^ require it, the Committee do not censure the Directors for exchanging Stock and Bonds of their Company for Stock of other Corporations. They could have wished that the property received in exchange, had been somewhat more saleable ; and they think as a general thing, that exchanges of this kind are more unprofitable even than forced sales. In this instance, when the money which the Company have been obliged to raise to enable them to keep these Stocks and property, has been procured only at high rates (they having never yet attained the position of capitalists), it would certainly have been better not to have made an exchange, or to have sold at once the Stock received in barter. The Committee presume that these exchanges were made either by former Treasurers, or by the Finance Committee, except in one instance, when the Directors agreed to accept of S. S. Lewis, one thousand shares in the Stock of the Grand Junction Railroad and Depot Company, in exchange for his subscription to one thousand Shares in the Central Road, which sub^ scription was made by Mr. Lewis, upon condition that the Grand Junction Stock should be taken in payment. V. Discount on the sale of Bonds. The Losses by sales of Bonds, which in this Report are included under the head of Discount on the Sale of Bonds,” are specified in the Bond Tables, which give the result of each Sale. Most of these Bonds were issued to meet the exigencies of the Company, when confidence in its credit had ceased to exist. They were the last and perhaps the only means of averting the open failure of the Company, and they were therefore sold at great sacrifice. All of these Bonds which have become due, and the interest upon all the Issues, have been paid up to the present time, and the discount at which the Bonds have been disposed of, corresponds of course to the credit of the Road in the market. And the Committee are satisfied that the Directors spared no pains to sell the Bonds to the best advantage. The Discount on Bonds sold is $528,556 18. 84 VI. Extra Interest. The amount of Interest paid has been very great, averaging upon the floating debt of the Company, about one and a half per cent, per month. But the Committee do not think it necessary to give an account of these payments in detail, as they have been, with few excep- tions, made to Banks and to Brokers, and no officer of the Corporation has received any extra interest under circumstances deemed by the Com- mittee worthy of special attention. The whole amount of extra interest charged upon the Books against the Officers of the Company is in the aggregate but ^1,359 13, and no unfair advantage seems to have been taken to procure any portion of it. On the contrary, the same Officers to whom extra interest has been paid, have frequently lent the Company large sums of money at six per cent, when a much higher rate might easily have been procured by them elsewhere. The Committee find that the above sum of §1,359 13, includes many charges for extra Interest, from which no benefit was realised by these Officers, the amount having in reality been paid out to procure funds else- where for the use of the Corporation. These charges, in the opinion of the Committee, are not only proper, but the Officers are entitled to much praise for taking upon themselves the labor of borrowing the money without compensation. The Committee upon first examining the Interest accounts, supposed that this extra Interest had been charged to the Company by the Directors in question, for their personal benefit, but upon further inquiry, they found that the money had been raised for the Company, at the Treasurer’s request, at the same rate which the Directors received for its use. A great portion of this extra interest has been paid by the Company, (as before stated.) in behalf of the Vermont and Canada Boad. The Com- mittee think that the amount of it, which is included in the aggregate of §252,583 14 before referred to, fairly constitutes a charge against the latter Corporation ; for the Central raised for the Canada from time to time, over §2,000,000, which was lent the Canadq, upon their applica- tion, to aid in the construction of their Road. To procure funds for this purpose, the Central paid an average rate of interest of eighteen per cent, per annum, for which this Corporation has never been reimbursed, although all the dividends of interest paid by the Canada to their Stock- 85 holders, during the time they were constructing the Road, were actually charged to, and advanced by the Central. The Loans themselves w'ere partially repaid, but no payment has been made on account of interest. The total amount of Interest by the Vermont Central is 763,957 68 YII. Amount paid for the construction of the Vermont and Canada Railroad, which has not been refunded to this Company, estimated at 252,583 14. The Committee have not, for reasons before stated, satisfied themselves that the Vermont Central has not expended towards the construction of the Canada Railroad a larger amount of money than the above Esti- mate. Losses to this amount, at least, have been sustained through the connection between the two Corporations. This Estimate includes, — Interest, which has been paid by the Central to raise money for the Canada, and which has not been refunded, ........ Losses on Stock received in payment of debts due from them, ........ Monies advanced by the Central for services performed by certain Officers of the Canada, (Messrs. Smith & Whitmore,) whilst they were engaged in constructing this Road, or raising means for its construction, Monies paid as Interest to the Stockholders and others while constructing that Road, .... Monies advanced for them but not charged to them when so advanced, being payment in part of cost of, steamer Ethan Allen, and for interest paid on their notes, &c. ...... In addition to these sums the Committee estimate that the Canada owes the Central, for materials and labor, and for the use of its men and engines, at least, . $84,183 81 14,098 77 5,175 25 42,977 48 33,266 91 72,880 92 Total as above, $252,583 14 86 A statement is annexed (^Appendix^ Table 1.') giving in concise form the amount of advances, &c.. made by the Central to the Canada Rail- road. The Committee express no opinion whether in point of law these sums may be recovered back. It is possible that no remedy for their recovery exists at this day, as these payments and advances though objectionable in themselves, may have been so far sanctioned or author- ized by the Officers of the Central, as to render their recovery imprac- ticable ; although it is hoped and believed, so far as at least a consid- erable portion of 'the amounts claimed are concerned, that this is not the case. The Committee, for the consideration of the Stockholders, refer to this Loss as a claim against the Canada Road, because they feel satisfied that the above amount ought to be satisfactorily ac- counted for. VIII. Losses by change of the allignment of the Road. These Losses are unimportant in amount, and it is probable that the changes made have not upon the whole been productive of much injury to the Company. They are mentioned by Mr. Parrott in his Report annexed, which renders further consideration of this subject by the Committee un- necessary. B . — The Loss sustained through Josiah Quincy^ Jr. IX. Loss through Josiah Quincy, Jr., after deducting the value of Assets received from him. Mr. Quincy was elected Treasurer in the summer of 1849, but did not enter upon the duties of his office until the 1st of September following. From that time, until March 1852, he managed the financial concerns of the Company ; and to him was entrusted the custody of their Bonds and Securities, as is usual in such cases. By a vote passed by the Directors, subsequent to his election, Mr. Quincy was in effect authorized to issue Notes without submitting them to the approval of two of their Board, which had been required by a previous By-Law of the Company. 87 To extend his authority if possible still farther, it was voted, also “ that any Notes and Drafts signed^ endorsed or accepted by Josiah Quincy, Jr., as Treasurer, shall be binding upon this Company.” That Josiah Quincy, Jr., as Treasurer, be authorized to pledge any of the Bonds or Scrip of this Corporation as security for its debts or liabilities, and in like manner 'to pledge any of said Bonds or Scrip as security for any debts or liabilities which he shall incur in his private capacity for the use and benefit of the Corporation.” The Committee think that this unlimited delegation of authority on the part of the Directors, was injudicious, and can be excused only by the confidence they reposed in their Treasurer. The loss sustained by it has been severe, and it will probably serve to prevent the recurrence of any similar calamity. As to the construction to be put upon these votes, the Committee offer no opinion. The Stockholders must judge of this matter for themselves. Mr. Quincy and the Directors have, in a pamphlet form, given their respective views upon the subject, to which reference can easily be made. The following Agreement was made between Mr. Quincy and the Cor- poration, on the 2d day of August, A. D. 1849. MEMOBANDUM OF AGREEMENT. This Memorandum of Agreement between the Vermont Central Railroad Company, and Josiah Quincy, Jr. Witnesseth : That whereas said Quincy has been elected Treasurer of said Corpora- tion, it is mutually agreed as follows : 1. That the duties of said Quincy as Treasurer shall commence on the first day of September next, or as soon thereafter as the accounts of the present incumbent shall be properly audited and settled, and that said Quincy’s services shall continue until the first day of May next, and for 88 « such further time, not exceeding four months, as said Quincy shall think it expedient, (without additional compensation,) to hold said Office. 2. Said Quincv’s duties as Treasurer shall include the ordinary and legal duties of a Treasurer, and also the endorsing of all negotiable paper which shall be necessary for conducting advantageously the affairs of the Company. He will also use all reasonable and proper pains to procure the necessary money, by the sale and discount of said paper ; — the loss and discount thereon to be borne by said Company. 3. The Financial business of the Company shall as far as convenient to the company, he transacted at said Quincy's 'present office in Boston^ for the rent of which^ and for Clerk hire, and for other actual expenses to be incurred by said Quincy the Company agree to pay him a fair equivalent. 4. The Company agree that said Quincy shall, at all times, be kept secured for all his claims and liabilities, for the time being, against and on account of said Company; which security shall consist in their depositing with him, (in the nature of a continuing guaranty,) the bonds of the Company of the same character and general effect, as those heretofore issued : said Quincy having the right, at all times, to require that the amount of said bonds shall be kept double the amount of his said claims and liabilities. It being further agreed that, at any time or times after the first day of May next, the said Quincy or his representatives shall have the right to sell any of said securities by public auction, so fast and so far as may be necessary to reimburse himself, with interest for any monies which shall have been paid him on account of the Company. 5. And whereas said Company have recently offered to their Stock- holders, twenty thousand shares of their Stock, on condition of said Stock- holders’ paying or settling therefor on or before the first day of August current ; and whereas a large number of said shares remain in the hands of the Company, in consequence of their not being taken and paid, or settled for, according to the terms of said offer ; now in lieu of salary and commissions to be paid said Quincy for his said services as Treasurer and endorser for the Company, the said Company agree forthwith to issue and 89 transfer to him in his ii^dividual capacity, a certificate in due and common form, of all said twenty thousand shares of Stock which were not taken and paid or settled for as aforesaid by the Stockholders ; and also that they will, from time to time, issue and transfer to said Quincy, any and all of said shares, which after being subscribed for, shall be forfeited, or liable to be forfeited to or taken back by the Company : all which said shares of stock, so issued to said Quincy, shall be taken to be ‘‘ full Stock,” free from assessments and entitled to the same rate of dividends and interest which shall be paid, in September next and thereafter, on the old Stock. 6. And the said Quincy agrees that, as to all said shares of Stock that shall be thus issued to him, he or his representatives will, on or before the second day of May next, or on reasonable request thereafter, re-transfer the same to said Company : but he reserves to himself and his representa- tives, the right to retain and hold, to his and their own use, any and all of said shares, for which he or they shall, on or before said second day of May next, pay to said Company the sum of fifty dollars per share, with interest from the first day of March last: it being further understood and agreed that said Quincy will refund to said Company, with interest, any sums of money which he shall receive as dividends or interest on the shares of Stock which he shall thus re-transfer. Witness our hands, August 2d, 1849. The Vermont Central Railroad Company, CHARLES PAINE, President. JO SI AH QUINCY, Jr. At a meeting of the Board of Directors of the Vermont Central Rail- road Company, duly held in Boston, August 14th, 1849 : Present a quorum of the Board : The foregoing contract having been read to the Board, it was Ordered^ that said contract, relating to the duties and compensation of Josiah Quincy, Jr., as Treasurer, be signed by the President in behalf of the Company and delivered to Mr. Quincy. ATTEST, (Signed) GARDNER BREWER, Clerk, pro tern. 12 90 In order to explain and correct a slight error in the within agreement, I hereby certify and agree that in paying for any shares which I may elect to purchase as mentioned in the sixth article I will pay interest, on one hundred (instead of fifty) dollars per share, from March 1st, to August 1st, 1849. JOSIAH QUINCY, Jr., CHARLES PAINE, President. ' Boston, Aug. 14, 1849, Received on the within Certificate No. 5472 for fifteen thousand seven hundred and forty-nine shares. JOSIAH QUINCY, Jr. Subsequently, viz., on the 1st of May, A. D. 1851, a second Agreement was made between the Corporation and Mr. Quincy, in the following terms. ARTICLES OF AGREEMENT, Made and concluded this first day of May, A. D., 1851, by and between the Corporation, known as the Vermont Central Railroad Com- pany of the first part, — and Josiah Quincy, Jr., of Boston, Gentleman, of the second part, Witnesseili : That whereas a difference of opinion has arisen between the said par- ties, as to the compensation to be paid by the said Company, to the said Quincy for his services and responsibility as Treasurer and Financial Agent of the said Company, from the first day of September, 1849, to the first day of May, 1850 : Now^ therefore^ for the purpose of settling such matter, it is hereby mutually agreed, as follows : The salary of the said Quincy, as Treasurer and Financial Agent of the said Corporation, is, and the same is hereby declared to be, at the rate of $5000 per annum, the same to commence and be payable from and after the first day of May, 1850, and to continue so long as the said Quincy shall perform his duties as such Treasurer ; and all needful and 91 proper expenses of office rent and clerk hire, which shall be necessary for the transaction of the financial business of the Company, shall be paid by the said Corporation in addition to such salary. Said Quincy’s duties as Treasurer and Financial Agent, as aforesaid, shall include the ordinary and legal duties of Treasurer, and also, the endorsing of all negociable or other paper which shall be necessary for conducting advantageously the affairs of the Company. Fie shall also use all reasonable and proper means, to procure the money necessary to carry on the business of the Company, by the sale and discount of such paper, the loss and discount thereon to be borne by the said Company ; and said sum of $5000 is to be in full payment and satisfaction of and for all such services as aforesaid. The said Company agree, that said Quincy shall at all times be kept secured for all his claims and liabilities for the time being, against and on account of said Company, which security shall consist in their depositing with him (in the nature of a continuing guaranty) the bonds of the Com- pany of the same character and general effect as those heretofore issued ; said Quincy having the right, at all times to require that the amount of said Bonds shall be kept double the amount of his said claims and liabilities. It being further agreed that at any time or times after his resignation of the office of Treasurer, the said Quincy, or his representatives, shall have the right, after giving twenty days notice to the said Corporation of his intention so to do, to sell any of said securities, by public auction, so fast and so far as may be necessary to reimburse himself with interest, for any monies which shall have been paid by him on account of the Company. And whereas the said Corporation hold promissory notes of the said Quincy, bearing dates the 22d day of August, A. D. 1850, and given for stock purchased by him of the said Corporation, for the sum of $257,725, payable in one year from date, without interest, and for the sura of $51,545, payable on demand, with interest, from and after the time when the amount of his compensation as Treasurer shall have been decided, and as collateral security for which, the said Quincy has deposited with the said Company, 10,309 shares of the Stock of the Vermont Central Railroad Company ; The said Corporation do hereby agree that they will extend the time of payment of said Notes, or loan the amount to said Quincy, if he shall 92 so elect, in such form as may be agreed upon, between him, arid the Com- mittee of Finance of said Corporation, for the term of one year, from and after the 22d day of August next, interest to be due and payable upon the amount of said notes or loan, from and after said date, at the rate of six per cent, per annum, the said Corporation holding the same security for the payment of said Notes, or said loan, which they now hold. The said Quincy in consideration of the extension of the said time of payment of his said Notes, as aforesaid, agrees to release, and by these presents does hereby release, discharge and acquit the said Corporation of and from all liability, claim or demand whatever, which he can, or may, have, against the said Corporation for compensation for his services, as Treasurer and Financial Agent, and endorser for the said Corporation prior to the said first day of May, 1850, hereby accepting the considera- tions given to him by the said Corporation, as set forth in this instrument, as full satisfaction of all such claim or demand, if any he may have, but not for his expenses as provided for in said agreement : and the agreements of reference heretofore made and executed by and between the parties hereto, for the purpose of submitting to arbitrators the question of the liability of the said Corporation to pay the said Quincy for said services, are hereby cancelled and revoked. And ivliereas^ by reason of the extension of the time of the payment of said notes, as aforesaid, the said Corporation may be under the neces- sity of borrowing money to the same amount as the amount of the said notes, until said notes shall have been paid, as aforesaid ; and whereas, the said Corporation may be compelled to pay for said loans of money more than six per cent, interest per annum, the said Quincy further agrees to and with the said Corporation, in further consideration of said extension of pay- ment as aforesaid, that he will pay to said Corporation in addition to the six per cent per annum, to be paid as aforesaid, as interest on the amount of said notes, during the time of such extension of the payment thereof, such a per centage upon the said sum of $309,270, as shall be equal to the dif- ference between eight per cent, and the average rate of interest paid by the said Corporation on loans of money made by them, between the 22d day of August, 1851, and the 22d day of August, 1852. And whereas, the said Corporation are the owners of certain Shares in their own capital Stock, it is further mutually agreed by and between 93 the parties hereto, and the same is a part of the mutual consideration of this instrument, that if either party shall dispose of any of their said Shares, prior to the said 22d day of August, 1852, either for cash or on time, deliverable prior to that date, they shall give to the other party notice, and thereupon, if the other party shall so elect, such sale or sales of Shares, so made by either party, shall be for the mutual benefit of both parties, in the proportion of one Share to the said Corporation and two Shares to the said Quincy ; but nothing herein contained shall prevent the said Quincy from selling said Shares, or any of them, at any time or times he may elect, and from transferring the same on the payment of thirty dollars a Share on his said notes, or from substituting new notes, with sat- isfactory collateral, in place of his own, provided the promisors are satisfac- tory to the Committee of Finance of said Corporation. All agreements heretofore made by and between the parties to this instrument, in relation to the subject matter thereof, inconsistent with the provisions of these articles, are hereby cancelled and revoked. To the faithful performance of all and several the covenants herein contained, the parties hereto do mutually bind themselves, their represent- atives and successors. In ivitness whereof^ the said parties have hereunto set their hands and seals, the said Corporation signing by Charles Paine, its President, there- unto duly authorized, this 1st day of May, A. D. one thousand eight hundred and fifty-one. [L. S.] (Signed) JOSIAH QUINCY, Jr. The Vermont Central Railroad Company^ BY [L. S.] CHAELES PAINE, Pres. E. P. Walton, Jr., Witness to signature of Charles Paine, Pres. Geo. Seymour, Witness to signature of Josiah Quincy, Jr. As Treasurer, Mr. Quincy was of course charged with the raising of money for the Corporation. In November, 1851, it was discovered that a great quantity of the Bonds of the Company were held against the Corporation, in the market. 94 by parties who had taken them as collateral security for Mr. Quincy’s pri- vate Notes, or Notes which the Company were not, as between themselves and their Treasurer, liable to pay. A list of these Notes is subjoined, (^Ap- imidix^ Table V.) These have been classed by the Committee in their Tables under three heads. Of the Notes in the first class, on wdfich the Bonds of the Company were pledged as collateral, no part oi the proceeds were ever, so far as the Committee have been able to ascertain, paid over to the Company. The second class embraces Notes which had been sold by Mr. Quincy, and their proceeds applied by him to the payment of other Notes on which he was also individually responsible. Of these Notes so taken up, the pro- ceeds originally obtained by Mr. Quincy, had been paid over to the Com- pany, but for which, previous to the transfer of the Company’s Bonds to the holders referred to in the Tables, Mr. Quincy had been repaid. The third class refers to Notes sold by Mr. Quincy on which he had pledged the Company’s Bonds, and on which Notes, the money raised had been applied to the uses of the Corporation in the first instance, but for which, also, Mr. Quincy was reimbursed: the distinction between the second and third classes being simply, that the Notes specified in the third class are not renewals of Mr. Quincy’s old Notes, as those in the second class are. For all the Notes specified in the three classes. Notes exactly correspond- ing, as to dates, sums, and running time, had been issued in the Company’s name by Mr. Quincy, as Treasurer, and under his directions entered in their Books to the credit of their Notes payable. These Notes were paid in some instances, long before they fell due, and an entry was made in the Books of the Company showing this payment. The Committee infer that it was understood at the Office of the Company that the Bonds subsequently found to be outstanding on the corresponding Notes of Mr. Quincy, were issued to secure the Company’s Notes when originally taken by him ; for the Committee find, upon the margins of these Notes, in the Books, memo- randa to this effect are made by the Chief Clerk. In some instances where Mr. Quincy’s original Notes fell due, they were paid as before stated, by proceeds obtained by discounting other paper of his own, on which the collateral was repledged. — The collateral Bonds are charged on the Company’s Books as having been issued on the Company Notes, — the Company Notes were paid, but ‘no return was made to them 1 95 by him of the collateral. This subject will be more clearly understood by referring to the statement QAppendix^ Table V.) and to the Tables them- selves. The Committee believe that it was customary for Mr. Quincy to raise money for the Corporation, by substituting his own Notes of corresponding tenor in place of theirs. A list of such Notes amounting to $2,273,410 74 is annexed (^Appendix^ Table V.) The advantage derived by the Company from this method of doing business, depends, of course, upon the relative credit of the two parties at that time. Had the money paid Mr. Quincy by the Company for their Notes held by him, been applied to pay the Notes which he had substituted for the Notes of the Corporation, no loss would have resulted from this practice : but such unfortunately was not the case : and the Company, to redeem their Bonds and Endorsements which remained pledged on the private Notes of their Treasurer, have been compelled to advance $458,402 50, besides interest. ^ The Committee annex Tables (^Appendix^ Table V.) which contain a list of all the Notes substituted by Mr. Quincy for the Notes of the Company. For all of these “ Company Notes,” the means of payment were furnished by the Corporation. By these Tables, the Stockholders will readily perceive the rates of interest at which the money was borrowed, and when the Notes issued by the Company were taken up. The Company had also received from Mr. Quincy security for a loan of $309,270, made to him by them. This security was originally in Ver- mont Central Stock, a part of which was exchanged afterwards for some Notes of the Company, which Mr. Quincy had in his possession, with Bonds as collateral ; these Notes the Corporation subsequently cashed, by giving Mr. Quincy credit for them to the amount of $87,076 40, on account of his subscription to $102,400 first Mortgage Bonds, which were transferred by him to the Corporation in exchange for the Notes given up. The col- lateral Bonds to the Notes, however, were not returned by him at the ' time, and subsequently the Corporation has been obliged to take up Notes ' of Mr. Quincy to a similar amount, which he had issued in the market, and for which these Bonds were pledged as collateral. In the “Reply” of the Directors of the Central Road to Josiah i Quincy, Jr., inserted in the Seventh Annual Report of the Directors, it is said, (p. 27,) “ that the amount of Mr. Quincy’s individual Notes, as 96 specific collateral, for which he has pledged the Bonds of the Corporation, is $237,067 77, and the amount of Bonds specificallj pledged as collateral therefor, is $345,900.” The result of the investigation of the Committee does not correspond with the account thus made up by the Directors ; for the Committee have found Notes of this description only to the amount of $206,066 77, and Bonds of the Company, as specific collateral on the same, to the amount of $290,900. Upon the same page of this Reply, the Directors observe, “ that the amount of Mr. Quincy’s Notes, given for his private benefit, upon which he has placed his name as Treasurer of the Vermont Central and Vermont and Canada Companies, and for which no Bonds were pledged, is $53,408 60.” The Committee find, however, that the amount so secured is $48,408 60. The Directors say further, that he has pledged as general collateral with other parties for his own private debts, bonds to a -large amount, making the whole amoum of his debt, as nearly as can now be ascertained, $320,000, and the whole amount of Bonds pledged for the payment of the same $488,200.” The Committee, on the other hand, find the whole amount of Bonds pledged as general collateral upon Mr. Quincy’s Notes of this class, which amounted to $203,927 13, to be $163,000. Thus the whole debt of Mr. Quincy, on which the Vermont Central and Vermont and Canada Companies were responsible, was $458,240 50, and the whole amount of Bonds of the Vermont Central pledged generally and specifically, $453,900 ; so that Mr. Quincy was over charged by the Directors in their Reply, with Bonds to the amount of $34,300 ; and as the Committee dis- covered $20,000 of such Bonds lying at a bank in Boston, where they had probably been left by an oversight, (as they had been there in pledge for a Note that had been taken up,) they presume that these constitute a portion of the $34,300 in question, which the Directors, probably being other- wise unable to account for, considered Mr. Quincy to be chargeable with. The residue of the error was found to result from the fact, that Bonds to this amount had been returned by Mr. Quincy and destroyed, but no credit had been given him therefor. These discrepancies in an account made up by the Directors for public inspection, as late as the 28th of April, 1852, and in which they certainly endeavored to state results correctly, is alluded to here (although it might 97 perhaps be mentioned with more propriety under the head of “the manner in which the Books and Accounts were kept,”) to show what very imper- fect knowledge the Directors had, or could procure, even at that late day, of the true state of the Company’s affairs, although many persons of abil- ity had been employed to examine them ; and the extent to which, by a long series of inaccuracies, and by the want of a sufficient number of Clerks, &c., the records of the Corporation had become involved and tangled together. The Committee do not by these remarks intend to criticise this Reply of the Directors. They state the above facts in this connection, simply because unexplained they might appear to have escaped their attention. Mr. Quincy, whilst Treasurer of the Company, borrowed from its funds and from those of the Vermont and Canada Company, for his own use, during his term of office, $893,159 42. These loans are specified in the tables annexed. (^Apj^endlx, Table F.) The Directors also allowed Mr. Quincy to renew his Notes for $309,270 which he had given the Corporation for Stock subscribed for by him. By this renewal, the Company not only were obliged to borrow a large sum of money at extravagant rates, when, had Mr. Quincy paid his subscriptions at the time the public were compelled to pay theirs, the Corporation would have been essentially relieved ; but eventually by Mr. Quincy’s failure, were subjected to the loss of a considerable portion of the Note itself. In view of the advantage procured by the renewal of these Notes, Mr. Quincy gave to the Directors a release of all claims which he could or might have against the Corporation in compensation for his services as Treasurer, Agent, and Endorser for the Company, prior to May 1, 1850,” and he also agreed to pay to the Company upon his renewed Note such rates of interest, as they themselves should be obliged to ^dij^over eight per cent, to continue the- loans, which the payment of these Notes would have extinguished. The latter consideration certainly appears of little value to the Company. That of the former, depends upon the nature of the claims thus released. For payment of these services, and for his remuneration for liabilities as- sumed for the Company, Mr. Quincy had previously agreed by a contract made August 2d, 1849, to look exclusively to advances he hoped to realize on Stock issued to him by the Directors, to a large amount, on which Mr. 13 98 Quincy was, until May 1, 1850, to have the advance without taking the risk of loss. So that the former of these considerations appears to have been scarcely more valuable than the latter. This renewal certainly savors somewhat of partiality, on the part of the Directors, towards Mr. Quincy. In their “ Reply,” p. 51, it appears that they “ knew of no claim which he could have,” and yet for a release of it, they agreed at a time when the Stockholders were submitting to great depre- ciation of property, and to enormous sacrifices to procure means for the pressing wants of the Corporation, to permit him to become in effect a bor- rower of their funds, to the amount of $309,270.* True it is that Mr. Quincy agreed to pay, with the difference of two per cent., the same rate of interest which the Company were compelled to pay to procure this amount in the market. Rut why was two per cent, thus sacrificed, and how was even this to be computed. Was the rate of interest to be estimated by an average ? This is the most favorable view for the Company which Mr. Quincy could be expected to assume. Rut did not the extra loan thus thrown into the market materially increase the rates on the residue of the Company’s notes ; and how was this to be repaid, or even ascertained ? It is also to be remembered that Mr. Quincy was, at the same time, bor- rowing the funds of the Company, and therefore limiting their resources still further. Nay, as he was then also a debtor of the Vermont and Canada Railroad, on Notes he had given them for Stock, for about $200,000, and as the Central Road was then in the habit of lending gratuitously their money to the Canada, this debt w^hich the Central then had to “ carry ” in the aggregate for Mr. Quincy, can scarcely be estimated at less than $600,000. Not a slight matter, certainly, even if the Corporation had been repaid the interest, which, for the accommodation of their Treas- urer, had been paid by them to procure funds for his use. Rut when we consider the effect the renewal of the Notes above referred to must have had on the rates of interest on other debts of the Company, and that the Central has, in fact, lost by the transaction the amount of about $300,000, as before stated, it becomes of most serious consequence. * There may have been satisfactory reasons which induced the Directors to allow Mr. Quincy to renew these notes, but these do not appear upon the Records, and the Committee have no means of weighing them. 99 The notes for $309,270, before referred to, were renewed bj a process so peculiar, that the Committee refer to it in proof of the financial acute- ness of their Treasurer. When Mr. Quincy’s Notes for this sum were considered due, he did not renew them, as might have been supposed the simplest process of making the arrangement. Had this been done the loss to the Com- pany would have been slight in comparison. Instead of doing this, he exchanged his Notes for certain Notes of theirs which he had in his posses- sion for about this amount, and of which about $100,000 were not due, com- puting interest on these latter at the rate of 6 per cent. For these Notes, he had as in other cases, discounted corresponding Notes of his own, with the Company Bonds, or the indorsement of the Central or the Canada Bailroads as security, at about twelve per cent per annum. He then gave a new Note for this sum of $309,270, in exchange for cash. This cash had of course been raised at extravagant rates of interest by the Company, or rather by Notes of Mr. Quincy, secured by the Company’s collateral, and thus Mr. Quincy was not only enabled to realise a handsome profit by the differ- ence of interest, but obtained the use of a large sum of money which he could only procure in the market at a great sacrifice. The result of this operation is stated in figures {Affcndix^ Table V.) A similar transaction which resulted in Mr. Quincy’s obtaining money procured by the Company at about eighteen per cent, in return for his Notes, to them payable on demand, at six per cent, is stated in the same Table. There are many errors and mistakes existing in the accounts between Mr. Quincy and the Company, to which reference is also made in the Tables. By these the Company have at various times been subjected to other losses, which the Committee do not think it necessary to dwell upon. By one of them the Company have lost several thousands of dollars. Mr. Quincy, as Treasurer, raised money for the Company by Exchange on England, which, as the Committee infer, he pledged his own credit to obtain, and which he sold here, giving to the Company the proceeds. By this means he managed to raise money for their use, to the amount of about X43,500 at a rate less than the average at which the Company’s paper was sold in our markets at that time. The Exchange account is stat- ed Appendix^ Table V. 100 The ultimate loss to the Corporation resulting from its connection with Mr. Quincy may be stated as about §295,000, which sum does not include, however, the loss suffered by the Company consequent upon the payment of high rates of interest for the monies borrowed by him from their funds. This estimate is based upon a valuation of Mr. Quincy’s property remaining in the possession of the Company, by whom it was received as collateral for the balance due to them from him, which valuation made at the date of this Report, is given in the balance sheet, QAijpendix^ Table V.) Should any surplus above this estimate be realised from these assets, it will of course diminish the above balance in proportion. In justice to Mr. Quincy, it is fair to add that during his administration he succeeded in raising in behalf of the Company many millions of dollars, to procure which, he did not hesitate to pledge his own credit, whenever the interposition of his own name became necessary. The creation of such a debt must have had an effect to increase the rates of interest upon his own private liabilities, and therefore indirectly to increase his ultimate indebtedness to the Com- pany by reducing to this extent, his means of payment. FIFTH. Mode in which the Accounts and Records of the Company have been kept. In relation to this topic, the Committee feel bound to express their dis- satisfaction at the loose manner in which, in every department, the affairs of the Company have been recorded, up to the close of Mr. Quincy’s ad- ministration. This absence of method is no doubt in great measure attribut- able to the want of adequate force ; but there were also great defects in the system which has been pursued, which rendered it, in many instances, impossible to obtain correct information from the entries which are in fact recorded upon the books themselves. In the Cash books, entries are frequently to be found, which should have been Journal entries, where no cash was either received or paid. For instance. Bonds sold are found credited by cash, when the real considera- tion for their sale was the receipt of Stocks and other property, for which cash w^as credited as a purchase ; and these Stocks or other property, have 101 often been sold at considerable discounts, which discounts should properly have been charged to the account called Discount on Bonds,” kept in the Ledger, but in which no such entry appears ; and the actual loss incident upon such a transaction, is to be gleaned only out of the Profit and Loss, or Interest accounts, which credit the Stock or property received, and not the Bonds exchanged for it. It would be impossible, within any limit to which the Committee could extend their Report, to enumerate the entries of this description. One may suffice for an example, and a copy of it is given at the end of the 1852 Bond Table. (^Appendix, Table III.) Much confusion also is attributable to the circumstance, that during a portion of the time, namely, during Mr. Quincy’s administration, two offices have been kept in Boston for the transaction of the Treasurer’s business, at one of which the business of the Company was principally done, and the record of it kept at the other. Consequently, these Records, for their ac- curacy, were dependent upon information communicated either orally, or by slight memoranda, or by the copies which the chief Clerk made from one set of books to the other. This system undoubtedly gave rise to fre- quent inaccuracies, particularly in regard to dates, as transactions occurring at one office, instead of being entered in the regular books of the other at the time they transpired, were frequently postponed to a much later period, and months even have been found to intervene, before any entry was made in the latter. It was certainly most unfortunate that the Direc- tors should have permitted the business of the Company to be transacted in two different offices in the same city, and the Committee cannot but feel that much injury has resulted to the Corporation in consequence of this arrangement, not only from the reasons before given, but also because the Directors and Finance Committee were thereby, to a considerable extent, precluded from obtaining daily information of the business done at Mr. Quincy’s private office, and deprived of the opportunity, on many import- ant occasions, of interfering to prevent the commission of acts having an in- jurious tendency to the interests of the Company, which, had they been known at their inception, might, doubtless, have been checked. In the office at Northfield, where the Construction Accounts, and the Earnings and Expenses of the Road, are originally entered, the want of system is also very apparent, and the entries made there during each month, are not distinguished from each other in the order of time. 102 The Books themselves, in the President’s office, from the Ledger down- ward, only purport to give the months in which transactions are entered, and entries are frequently to be found as having occurred in one month, which took place in fact two or three months previously. This mode of keep- ing the Books, occasioned great embarrassment to the Committee, who were absolutely unable to come to any reliable conclusions respecting them, or the Earnings and Expenses of the Road, until from an examination made at the different stations, and the accounts obtained from all connecting Roads, — from Way Bills and memoranda, — they had constructed for themselves these accounts in detail. The only excuse which the Committee can discover for the confused manner in which the accounts are kept, is confined to that of economy alone. Almost all the Books at Northfield, were kept by Mr. N. W. Lincoln, with one, and sometimes with two assistants. But Mr. Lincoln was constantly employed upon the Road itself, and in fact for some time, performed a considerable portion of the duties of a Superintendent ; so that the time he could devote to the books Tvas necessarily much limited. From the fact that this department now' fully occupies the time of a Super- intendent, a chief Clerk, a transportation Clerk, and a passenger Clerk, and their assistants, it may, we think, be fairly inferred, that Mr. Lincoln could not, (however well disposed he might be,) have accomplished more than he did ; and the Committee do not consider that any blame is attributa- ble to him personally ; on the contrary, they find his Books are faithfully kept as to their results, although not showing the details of business in their proper place or order. The same remarks are equally applicable to the main office in Boston. There was not, until the end of Mr. Quincy’s administration, a sufficient number of Clerks kept in this office to attend to the ordinary business of a Railroad of the’ magnitude of the Central, even when unembarrassed by financial difficulties. And when we add to this business, the enormous number of entries consequent upon the daily loans effected by the Company from time to time, we can readily account for the appearance of many clerical errors. In some instances, from want of time, these Clerks had been unable, though working daily much more than the usual number of business hours, to correct mistakes known to exist in the Books. Errors in the Stock balance as exhibited by their balance sheet were known to exist. 103 for at least tioo years^ and no time could be found by the Clerks to correc t it. The duties of Mr. T. H. Leavitt, the chief Clerk, were much aug- mented bj the fact that the business in Boston was transacted, during much of the time, as has before been stated, at two different places when one office only should have been kept for the purpose. Owing to this want of force, also, it was almost impossible to assign to each Clerk any par- ticular charge or department, because each was obliged to occupy himself with several branches of business, and to make his own entries when- ever he had the means of doing so. The pressure of daily work at the main office was so onerous, and its discharge consumed so much time, that it frequently, and in fact generally happened, that no opportunity occurred to verify these entries, until long after they had been made, and. the trans- actions themselves possibly forgotten. The Committee have no doubt that this want of force was known to the Directors, as they have been informed that complaints were frequently made to them on this subject, but the Directors did not see fit to remedy the evil, from the wish, it is said, of avoiding extra expense ; but the Com- mittee doubt whether such an excuse should have much weight ; because to some of these Clerks an amount of extra compensation has since been paid for extra labor, which would have sufficed for the employment of efficient assistants, w'ho could doubtless have effected much more than could have been accomplished by the persons actually rendering the service, overtasked as they must have been by labor, and working at unseasonable hours. But the greatest evil resulting from this system has been, that it not only per- mitted mistakes to creep into the Books, but the most important money transactions were necessarily hurried through without comment or inquiry, and thereby, doubtless, many acts and financial operations w^ere permitted to be consummated, which the Auditing Committees or the Directors, had their attention been called to the subject, w^ould scarcely have failed to ob- serve; and which, if observed, would probably have been prevented. The Committee feel that great loss has been sustained by the Company in con- sequence of this want of system, for which a saving in the salaries of a few Clerks (should it be proved that they have in fact been saved) would be entirely insufficient to compensate. But there are cases in the earlier history of the Company, where great neglect is apparent, which cannot be attributed to mere \\ant of time 104 on the part of the Clerks. Mr. Belknap, on one occasion borrowed ^295,700 of Bonds due in 1852, and jet no entry of this transaction has been found by the Committee in any book kept at that time ! The Bonds were issued to Mr. Belknap upon his receipts, which were filed amongst the papers in the office in Boston, but in neither the Bond Account or the Ledger, was any mention made of the fact, until long after the Bon(fs had been sold, and two sets of Coupons on some of them had actually been paid ! Besides this sum of $295,700 ; Bonds to the amount of $15,500 of the same Issue, of which no record whatever was found by the Committee, and no receipt or memoranda found on file relating to them, were discovered to be in existence and outstanding against the Corporation ; the payment of which was accordingly stopped by the Committee on the 1st July, 1852, when the Bonds became payable, and were presented for payment. They were then traced back for two years or more, through their various owners, till it was found that they had been originally disposed of by Mr. Belknap, or his Agent ; and the Committee concluded, that they were received by him from the Company, although they cannot find that he ever was charged with them in account, or that the Company have ever received one dollar’s consideration for them ! There are many other instances of the same character, involving smaller amounts of property, (perhaps many which have escaped the attention of the Committee,) most, if not all of which, might easily have been remedied, had proper attention been given, in the first instance, to the construction of proper Books, and had suitable care been exercised in this department. The Committee have observed, with pleasure, that since the appointment of the present Treasurer, great reformation has taken place in regard to the Books and Accounts in Boston, where the business of the Hoad is trans- acted at but one Office, and competent Clerks are engaged in its prosecu- tion. And it is believed that the Books and Accounts of the Treasurer are now systematically and accurately kept, and will bear favorable comparison with those of any other Corporation. The same change has taken place at Northfield, under the administration of the Trustees of the First Mortgage Bonds, by whose orders the accounts connected with the construction and running of the Road are kept in a business-like manner. 105 It is true that the business of the Company has been lately much simpli- fied, that it is comparatively easy to systematize it, and that it may now, perhaps be done by a smaller number of Clerks than should have been employed heretofore ; but with due allowance for these suggestions, the Committee believe that much improvement has been effected in these depart- ments, and that the Stockholders may be henceforth satisfied that they will not, under the present management, be subjected again to evils of a similar character. Had a thorough examination of these books been made at an earlier date, the Committee would have been spared much trouble, and the Stockholders would not have suffered as severely as they have done, from the distrust which existed in the community in regard to the pecuniary condition of the Road. The Directors themselves would have been able to give reliable statements concerning its finances, and have avoided the false position in which the assurances they have made, placed them before the public, and many losses, no doubt, would never have occurred. Examinations had certainly been made, and by skilful persons, but they were only partial in their nature, and it is obvious that no partial examination can give any sat- isfactory account of the condition and management of a concern so exten- sive, and so complicated in all its branches, as the Corporation now under consideration. SIXTH. The Business Connection of the several Officers of the Vermont Central Railroad with the Corporation^ and their Conduct in office. The first Board of Directors was elected in the Summer of 1845, and consisted of Charles Paine, Samuel S. Lewis, Daniel Baldwin, left July 15th 1846. John Peck, James R. Langdon, July 15th, 1846. Robert G. Shaw, Jacob Forster. 14 106 Of this number, INIessrs. Baldwin and Langdon continued in office but about one year ; and on the 15th of July, 1846, their places were supplied pro tern, by Daniel White, and ^ Lucius B. Peck. Mr. Shaw sent in to the Directors his resignation on the 27th of May, 1848, and Isaac Spalding was elected by them in his stead. But being re-elected by the Stockholders, Mr. Shaw again resumed the office of Director. On the 30th of August, 1848, the Board was composed of Messrs. Paine, John Pock, Daniel White, Isaac Spalding, Isaiah Silver, Robert G. Shaw, and Horatio Adams. Mr. Shaw again resigned his seat as Director about July 9th, 1849. On the 18th of July, 1849, a change was made in the Board. Messrs. White, Adams, Silver, and Spalding retired, and James R. Langdon, Joseph Bell, Franklin Haven, Thomas Gray, Gardner Brewer, were appointed to fill the vacancies. December 5th, 1849, F. Haven’s resignation was sent in and accepted ; and on the 2d of April 1850, Mr. Charles 0. Whitmore was appointed to fill the vacancy. April. 6th, 1850, Mr. Bell resigned, and his resignation was accepted. May 10th, 1850, J. P. Putnam Esq., was chosen in Mr. Bell’s place. November 26, 1850, Messrs. Gray and Brewer resigned, and Messrs. J. 0. Dunn and John Smith were appointed Directors by the Stockholders. December 31st, 1850, John Peck retired, and his son John H. Peck was chosen by the Directors in his place. 107 October 5th, 1852, Messrs. Putnam, Langdon, and Dunn retired, and Messrs. Nathaniel Thayer, J. W. White, and Hollis H. Hunnewell, were appointed by the Stockholders. March 9th, 1853, Mr. Whitmore resigned, and William R. Lee was chosen by the Directors in his place. March 9th, 1853, J. Smith resigned. April 29th, 1853, Gov. Paine resigned. Their seats now remain vacant, and the Board now consists of Wm. R. Lee, President, J. H. Peck, N. Thayer, J. W. White, H. H. Hunnewell, ^ Directors. Of these gentlemen, Mr. Charles Paine has been President from the first organization of the Board of Directors, until April 29th, 1853, a period of nearly eight years ; the term of office of the other Directors not averaging quite two. Mr. John Peck remained in this capacity five years and a half, a period longer than that of any other member, Mr. Paine excepted. Mr. S. H. Walley, Jr., was the first Treasurer. He was elected and acted as such, until Daniel White was appointed, on the 24th day of October, 1848, “ to act as Treasurer, with all the powers incident to the office, during the absence of Mr. Walley.” Mr. White was succeeded, on the 21st of March, 1849, by Mr. Warner, who is entitled upon the Records, “ Treasurer, pro tern.” Mr. Warner was succeeded, September 1st, 1849, by Josiah Quincy, Jr. During the year 1845, little was done but to procure subscribers, survey routes, locate the Road, and to appoint the Engineer, Contractors, &c., and nothing occurred during that period, to which the Committee think it necessary to direct the Stockholders’ attention. They approve, as has al- ready been observed, of the general location of the Road, and although by its construction through Northfield, a benefit no doubt resulted to Mr. Paine, who was an owner of a very considerable quantity of land in that 108 town, yet the Committee have seen no reason to believe that Mr. Paine used any improper influence to procure its location, or that he has realized any unusual profit from the sale of his land to the Company. The sums received by Mr. Paine from the Corporation, for land, &c., are stated (^Appendix, Table VI.) They are moderate when compared with other land damages which have been paid ; and in fact, the Committee have been in formed, that the price he accepted was less than the value put upon the land by Commissioners appointed to appraise it. Had the Road been located upon any other of the proposed routes, the change would not, in the opinion of the Committee, have proved beneficial to the Company ; and this being so, they do not see why any charge should be made against Mr. Paine for participating with the rest of the community in the profit realized from the construction of a Railroad through his estate, the Road (if its construction at all be necessary,) being itself also a gainer by the location. In treating of the conduct of the Officers of the Vermont Central Rail- road, the Committee cannot but observe that immense amounts of money have been expended in constructing this Road, which by a careful man- agement might probably have been saved. That, had the necessary means been in the first instance provided, to complete the work ; nay, had the means on hand been prudently and economically applied, the saving to the Stockholders would have been very great. That the Stockholders had the right to expect of their Directors such careful management, and so pru- dent and economical an application of their funds, seems self evident ; at least, such duties appear to the Committee, to devolve necessarily upon Directors, by their acceptance of office. To effect this, it is not neces- sary that they should themselves perform the duties of clerks, and the Committee well know, that without the devotion of much more time than Directors usually think themselves required to bestow, it would be very difficult, to say the least, for them individually to ascertain whether or not the monies advanced for particular objects, were properly disbursed ; and they could not be expected, of their own knowledge, to know, to what amount the Corporation might be involved for incidental claims, dam- ages, &c., or whether contracts for materials &c., were or were not properly made, or whether the earnings and running expenses were reported with per- fect accuracy. This knowledge must be indirectly acquired through the 109 intervention of Officers, to whom the duty of performing these tasks should be especially confided, and from whom reports should be constantly required. From this very necessity, it becomes doubly important for Directors to see, in the first instance, that proper officers are appointed. That each Department is properly represented ; that the duties of each are defined, and that some system in regard to responsibility in office be adopted, by which to insure the proper application of the funds of Stock- holders to the objects to which these funds are entrusted to their charge. The Committee regret to say that, in these repects, the Directors have failed to perform what appears to the Committee to have been their first duty. The Directors do not seem to have considered it necessary that the accounts should be systematically kept, for they could not but have discovered the want of system which prevailed. They should have known (for they had the means of knowledge) that improper use was made of the funds of the Company — that the books were in fact incorrect — that no record at all was for a long time kept of the Bonds, — and they should, through the medium of proper Officers, have acquired accurate information relating to the construction of the Hoad ; outstanding claims and the prices which were paid for labor, materials, &c. And they should have seen that the assets were careful guarded. That they were conscious that such duties were expected of them is obvious, for they went through the formality of appointing Sub- Committees of their number to audit accounts, to attend to finances, &c. But either these Committees did not think espe- cial attention to the accounts necessary, or the Directors did not take the trouble to attend to their Reports — for the supposition that, upon a thorough examination, the defects in system to which the Committee have referred in this Report, should in the earlier stages of construction have escaped observation, is as incredible, as that the Directors should have failed, when informed of the evil, to have adopted measures to remedy it. The principal evidence of remissness on the part of the Directors of the Central Railroad, is exhibited in their action under the Belknap Con- tract ; under the Vermont and Canada Lease ; and in their negotiations with Josiah Quincy, Jr. These subjects have all been treated in detail under their proper heads, and there is no necessity to recapitulate them here. Nor were the losses experienced from these causes entirely unexpected, 110 for the Committee are forced to say, that the Directors, or some of them, do appear, in some instances, to have anticipated to a certain extent, some of the evils which have subsequently proved so disastrous. From letters on file, it would seem, that some of them knew that the Company was incur- ing great liability on Belknap’s account ; that they were fully aware that he was in doubtful credit ; and that it was dangerous to advance him funds. Mr. Walley appears to have early discovered the danger, and to have pro- tested against complying with Mr. Belknap’s demands for money, as early as August, 1846. But notwithstanding this, the Directors after a remon- strance from Mr. Walley, as Treasurer, upon the subject of over advances, actually lent Mr. Belknap, over 0300,000 in Bonds of the Company ! This seems to have been the result of a joint action on the part of the President and some of the Directors ; for the Committee find that Mr. White, when acting as Treasurer, was unwilling to run the risk of making the advances himself, and required the sanction of a Committee, or of the Board, before incurring the hazard of such a step ; and Mr. Warner after- w^ards, when Treasurer pro tern, appears to have been seriously alarmed at Mr. Belknap’s repeated calls for assistance, and to have been v/arned of the danger, in which by its connection with this Contractor, the Corporation was placed. The President of the Board, Mr. Paine, appears to have taken upon himself a responsibility in regard to the Road, which was, in the opinion of the Committee, unnecessary. He attended to, and made either directly or indirectly most of its contracts — superintended in a great measure the con- struction and running of the Road — fixed or modified its tariff of tolls — was constructing Agent of this, as well as of the Vermont and Canada Road — was disbursing Agent at Northfield — and in fact, in one capacity or an- other, seems to have taken a most active part in all transactions of any inter- est or importance, in which the Company was concerned. He appears to have been very instrumental in the loan to Belknap, under the apprehen- sion that if unassisted, Mr. Belknap might fail ; although the Committee do not clearly see why such a result was so much to be dreaded by the Company, particularly as the Corporation was authorized to retain funds of Mr. Belknap to meet such an emergency. He was instrumental in procur- ing the Charter of the Vermont and Canada Road — disbursed the moneys for its construction ; and laboring incessantly in so many Departments, was Ill unable to see that the duties of any were methodically or accurately per- formed. If Mr. Paine’s services to the Road are to be estimated by the mere la- bor consequent upon them, great credit must certainly be given him, for there is no doubt that he was most constantly and most unremittingly occu- pied ; if the building of the Road itself, and the connection thus estab- lished between Boston and the Canadas, confers any claim to the thanks of the Stockholders, to Mr. Paine this result is probably to be attributed more than to any other individual ; but if the Stockholders judge of the value of these efforts simply by the benefits resulting from them in a pecuniary point of view ; if they look only at the means by which this connection has been made ; they will, the Committee fear, be obliged to attribute to him, more than to any other, the embarrassments and losses to which they have been subjected. Had he given more of his time to details, and devoted less of it to matters falling more properly under other Departments — had he seen that the Road was properly superintended from its outset to its completion, not only would ^ much money have been saved, but accu- rate information of the state of the Road and of the Company’s finances could have been procured, to the want of which, in a great measure, the depreciation in the Stock, and the bad state of the Company’s credit is doubtless attributable. This course of conduct on the part of Mr. Paine, probably led also to a corresponding remissness on that of the Directors. They found that re- sponsibility was taken from them, and they were willing to transfer it to him. They seem to have taken his estimates for facts, and his theories for well ascertained results. The Directors do not appear to have derived from this Company any profit personally from their connection in that capacity with the Corpora- tion ; for the small compensation paid them per day, whilst at work for the Company, is not, in this point of view, worthy consideration. The following circumstance which has lately transpired, requires, however, to be noticed in this connection. When the Vermont and Canada was first built, and until the ingenious expedient of connecting the opposite shores of Lake Champlain, at Rouse’s Point, by means of the Floating Bridge, was adopted, a Steamboat by the name of the Ethan Allen was purchased by the Vermont and Canada Railroad to transport passengers and freight across the 112 lake. This Boat cost originally, and in additions and repairs, ^26,527 92. After the Floating Bridge had been constructed, and had supplied the place of the Boat, the Directors of the Vermont and Canada placed her in the hands of a Committee for sale, and through the agency of Mr. John H. Peck, she was bought for the Central Road, and charged by the Can- ada to the Central at cost. The Central Road had of course no use for the Boat, which* was then much depreciated in value, and soon after Mr. Peck sold her for $15,000. This sum, however, never was paid over to the Central Road. $9,974 97 of it, was given to Mr. Paine by Mr. Peck, he retaining the balance himself, and Mr. Paine and Mr. Peck having each disputed claims against the Vermont and Canada Road for services and endorsements, retained the whole sum as payment, giving to the Vermont and Canada receipted bills in exchange ! Now without passing upon the propriety of the charges made by these Gentlemen against the Vermont and Canada, (as such an inquiry does not fall within their province,) the Committee cannot avoid referring to the impropriety of thus appropriating the funds of another Corporation in payment. It might have been proper for the Central Railroad to have disposed of the Steamboat, because the whole $26,527 92 was originally charged in the construction of the Ver- mont and Canada as part of the cost of the Road, and the Central was therefore particularly interested in disposing of her to advantage. But the proceeds should not have been used by these Directors, to force a settle- ment of disputed claims, which, in a similar capacity, they had against the Vermont and Canada ; and it is to be hoped that they will treat these two questions as entirely distinct. This occurrence affords another striking illus- tration of the disadvantage under which the Central labored at this time, by giving to the Directors of the Vermont and Canada a similar office in their own Board. The Committee infer, from various facts within their knowl- edge, that if the Vermont Central had not taken this Steamer from the Can- ada Road, the latter would have sold her through the same agency employed by the Central, and to the same parties ; and this being the case, they do not see why this transfer should have been thus circuitously made. Nor do they think that the Central should have paid back in cash to the Canada the outlay on this boat, which, for reasons before stated, should form an item in the Construction of the latter. The Committee feel great pleasure in saying that they have in other 113 respects discovered nothing which calls for pai iicular censure. But in considering the conduct of the Directors whilst acting as a Board, the Committee cannot, for reasons before given, award them the credit of hav- ing discharged all the duties which seem incident to their office. Nor can thej excuse them for giving to the Public, assurances of the condition of the Road, which differ so widely from the truth, on the faith of which doubtless the Stockholders were induced quietly to submit to great reductions in the par of their Stock, and the Public to make large subscriptions to supply means of future construction. One of these statements in which great confidence was no doubt placed at the time, was as follows : VERMONT CENTRAL RAILROAD. ‘‘ This Road extends from Windsor to the Lake shore at Burlington, 116 miles. The Cost at the last issue of Stock will be as follows, to wit : 100,000 shares Stock, at $30, Bonds issued and to be issued for divi- ^ dends of interests, . . . 3 Less assets, which may be applied in settle- ) ment of the same, at a low estimate, say, ) $3,000,000 00 881,122 00 381,122 00 500,000 00 Total cost of Road and Furniture, . . . $3,500,000 00 estimated at thirty dollars per share, — all of which is provided for by the last issue of 50,000 Shares ; which Issue in the opinion of the Directors, will render any further call on the Stockholders, or issue of Bonds, unneces- sary. “ The Vermont Central has taken a permanent Lease of the Vermont and Canada Railroad, at eight per cent on cost, which at contract price, is but $17,000 per mile, or $765,000; equal, at six per cent, to $1,020,000. Making the whole cost of the two Roads in connection from Windsor to Rouse’s Point, one hundred and sixty-one miles, including equipage, $4,520,000, or $28,075 per mile. “ The whole of the Vermont Central, (with the exception of two miles in 15 114 Burlington, which will be finished within two months,) is com'pleted. Th:; Vermont and Canada will be ready for superstructure early in August, and the line be opened early in October, to meet at that time the Northern Railroad in New York, connecting it with Ogdensburgh and Lake Ontario, and the St. Johns and Laprairie Railroad, uniting it with Montreal and the St. Lawrence. “ The Earnings of the unfinished Vermont Central, have yielded more than three 'per cent, per annum on ^4,500,000, the Capital of the whole line from Windsor to Rouse’s Point, — and a glance at the map must convince any one of the immense accession of business that must arise, when, in October next, it connects Montreal and Lake Ontario with the ocean at New York and Boston.”* This Statement appears to have been made with great deliberation, and it probably received the approbation of the whole Board of Directors, for by the Directors’ Records it appears that a vote was passed, June 14th, 1850, “ That the foregoing abstract be signed by the President and Treasurer, published for the information of the Public'^’’ — I A slight variation from such a declaration might have been excused ; but can a variation of $5,000,000 be considered slight ? Can the fact be overlooked, that the assertion is there made, in the most positive terms, ‘‘ that the whole of the Central Road, with the exception of two miles in Burlington, which will be finished within two months, is completed,” when, ever since that time, the work has been not only incomplete, but a consid- erable outlay is yet required to finish it ? The Committee do not wish to dwell longer upon this subject. Other instances might probably be found where the Directors have made state- ments in regard to the affairs of the Road, which subsequent events have not justified ; but this one will suffice. The Directors also granted extraordinary powers to Mr. Quincy. These are probably to be attributed to the confidence they personally reposed in him ; and for the losses resulting from this connection, they ought not to be chargeable, if, as was probably the case, they could not make with him any more favorable bargain. They should have felt it to be more necessary, The words italicised are italicised by the Committee. 115 on this account, however, to keep a careful supervision over his conduct ; they should have seen that he was not allowed to pledge the funds of the Company for his own notes, except in instances where the Company real- ized the benefit of the pledge ; and that when the Company’s notes were returned, the collateral for them was returned likewise. This would have been easily done, and it was in fact part of the duty of the Auditing Committee. Due allowance for these faults of the Directors should however be made. Stockholders ought not to censure too highly omissions of this nature, simply because unfortunate consequences have resulted from them ; and particularly if the opportunity to err is attributable to themselves ; it being highly probable that the Stockholders were, to a great extent, aware of the mode in which the business was done, and of the discretionary power given to, and exercised by, Mr. Paine and Mr. Quincy. Nor is the circumstance to be overlooked, that these very Directors, or many of them, were large owners of Stock, and were as great sufferers in proportion to the amount, as the rest of the community, and that they probably considered the inter- ests of the Company safe in the hands of its guiding Officers. A list is here subjoined which is taken from the Company’s Records, and which states the term of office of each Director in order. Chosen. Retired. Charles Paine, July 23, 1845. April 29, 1853. S. S. Lewis, u u u Aug. 30, 1848. Daniel Baldwin, u u u July 15, 1846. John Peck, ii a a Dec. 31, 1850. J. R. Langdon, a u u July 15, 1846. R. G. Shaw, (( (( 6( May 27, 1848. J. Forster, u u iC Aug. 30, 1848. Daniel White, July 15, 1846. July 18, 1849. L. B. Peck, a u a Aug. 30, 1848. I. Spaulding, May 27, 1848, July 18, 1849. I. Silver, Aug. 30, 1848, a u (6 H. Adams, u u a u u R. G. Shaw, u u a ^ Feb. 9, 1849. 116 J. R. Langdon, July 18, 1849, Oct. 5, 1852, J. Bell, (( (( u April 16, 1850. F. Haven, (( a (( Dec. 5, 1849. T. Gray, (( (( (( Nov. 26, 1850. G. Brewer, u a n (( u a C. 0. Whitmore, April 2, 1850, March 9, 1853. J. P. Putnam, May 10, 1850, Oct. 5, 1852. J. C. Dunn, Nov. 26, 1850, (( (t u John Smith, u a u March 9, 1853. J. H. Peck, Dec. 31, 1850, Nathaniel Thayer, Oct. 5, 1852, Still in office J. W. White, U (( u 1 ► on the H. H. Hunnewell, a (( a 1st of July, 1853, W. Raymond Lee, March 9, 1853, From this list it is apparent that many of the Directors retired before the important losses of the Company had occurred, and many did not come into office until after these losses had actually happened. By these fre- quent changes it is probable that many of the defects in system have been caused : the earlier Directors having retired before matters could well be systematized, and the later, upon assuming office, probably relied much upon their predecessors having in fact established a system, with which they did not wish to interfere. The Committee regret that they are unable to give to the Directors proper credit for such of their acts as have proved beneficial to the Com- pany. Reports of Committees upon the conduct of Officers are neces- sarily ex parte. Losses and derelictions from duty appear upon the books and records, and instantly attract the eye ; but the benefits derived from the fortunate bargains made ; the results of well arranged plans ; the evidences of labor well bestowed ; the liabilities gratuitously assumed in behalf of the Corporation, are not equally conspicuous ; and when noticed, are necessarily treated as but the performance of a simple duty, although on many of these occasions, had Directors altogether omitted to act, and thereby the Com- pany had not realized the advantages resulting from the act itself, no cen- sure could have been pronounced. The Committee have no doubt that many acts of these Directors were of this character ; that they have fre- 117 quentlj, on occasions of emergency, not only recommended to the Stock- holders a course of action, but have adopted it themselves, — for the sub- scription lists abundantly prove this fact. That they often endorsed the Company Notes without remuneration, when its credit was at its lowest point, for the Committee find such endorsements now on the files, — that they often lent money to the Company at six per cent, when a much higher rate could have been obtained ; for this is verified by the Cash Book. But it is impossible within the limits of this Report to specify all the instances of this nature. Nor would it, in the opinion of the Committee, be proper to do so, as such an enumeration, although highly creditable to some of the Board, might operate unfavorable to others who have not thus inter- posed in behalf of the Company, but who, to the extent of their means or opportunities, might and probably would have been willing to perform the same service. It is due to the Directors and to all the Officers in the employ of the Company to observe, that they have afforded the Committee every facility in their power to aid this investigation, and have cheerfully furnished all books, papers &c., in their custody, and by their assistance the Committee have been relieved of much labor, to which from want of such co-operation they would necessarily have been subjected. The Committee have annexed tables (^Appendix^ Table VI.) shewing the amounts which have been received by those of the Directors, to whom especial attention had been previously directed, viz : Messrs. Paine, John H. Peck, John Peck, Whitmore, Dunn and Putnam. In regard to the other members of the Board, the Committee find nothing upon this subject, of sufficient interest to report. All the Directors were entitled by their vote to charge §5 per day for their time whilst “ absent from home ” upon the business of the Company, and their travelling expenses. The allowance is reasonable enough, but as a general thing it would certainly be less objectionable to have the rates of compensation for Directors fixed by the Stockholders. As the Directors, however, have not abused the powers they exercised, by voting in their own favor any extravagant remuneration, the Committee attach no blame to them on this account. The Stockholders will remember that in speaking of the conduct of the Directors as a Board, they do not refer to the Board which was appointed on the 6th day of October, 1852. From the time this appointment was 118 made a marked change has taken place in the management of the Road. Much credit is due these gentlemen for the labor bestowed by them to re-organize the affairs of the Company and to disentangle it from the many embarrassments, in which, upon their accession to office, they found it involved. By them the floating debt has been reduced from $1,121,835 00 to $224,162 73. Through their agency the unsettled accounts between Mr. Quincy and the Corporation, have been adjusted and its credit materially improved; their Treasurer, G. M. Dexter, Esq., having been enabled to borrow the greater part of the money required for the use of the Company at 6 per cent. SEVENTH. The Assignment of the Vermont Central Railroad^ and the Vermont and Canada Railroad, to the Trustees of the first Mortgage Bonds ; the Reasons for this Assignment ; and the Chancery Proceedings instituted hy the Ver- mont Central Railroad for the Re-delivery of the Roads. When this Report was originally prepared, the Committee intended to give a history of the circumstances under which the possession of the Road and Equipment was given up to these Trustees ; but this matter has since been so fully treated of by the Directors, in their 8th Annual Report, that this has become unnecessary. The Trustees took possession on or about the 29th of June, 1852, at the request of the Directors, and it has since remained in their hands. Proceedings have been instituted in Equity, in behalf of the Stockholders, to regain possession of the Road and Equip- ment, in which no decision has yet been pronounced. For a full account of the motives which led to a surrender of the property to the Trustees, reference may be had to the Directors’ Report before alluded to. Much more system has prevailed in the management of the Road under the Trustees, than under any previous administration. 119 EIGHTH. TJie Assets of the Vermont Central Railroad^— > their Present Value. The Assets of the Central Road, on the first day of July, 1853, consist of the following : Notes Receivable, being mostly Stock Notes, Less 50 per cent., Vermont Central Railroad forfeited and purchased stock, 1816 Shares, at market value, ^18.00, Belknap Claim, secured by assignment of claim against the Ogdensburgh Rail- road Co., and 500 Shares Grand Junc- tion Railroad stock, valued as follows : Ogdensburgh Claim, at Grand Junction Stock, at Vermont Valley Railroad Stock, 135 Shares, valued at Boston & Vermont Telegraph Stock, 120 shares, valued at Grand Junction R. R. Stock, 1150 Shares, valued at market price less 20 per cent. Estate of J. Quincy, Jr., valued as follows : South Shore Railroad Bonds, $90,400 at price offered by responsible parties, viz : 80-100 Vermont Central Railroad Stock, 847 Shares at market price, $18 00 per share Value of Mortgages Hingham Steamboat Stock, 29 Shares, val- ued at Second Mortgage Bonds, at 75-100 Total Resources, $27,702 74 13,851 37 = 13,851 37 33,228 00 40,000 26,750 = 66,750 00 00 00 59,800 00 72,320 15,246 15,000 000=102,566 00 355,775 00 $632,970 37 120 NINTH. The LialiUties of the Company other than its Funded Debt. These consist of Notes and Accounts payable ; the Bonds due, 1852 and 1 856 ; and demands ^^hich exist against the Company not represented on their books. The Notes and iVccounts payable will amount to §250,769 64 on the first July current, as per Balance Sheet. Bonds due in 1852 and 1856, to the amount of §225,400. To meet these, the Corporation has the Assets on hand, mentioned on previous page : §632,970 87. Leaving a surplus on hand estimated at §156,800 73, which may be applied towards closing Construction Account. As to the demands against the Corporation which do not appear on the Company’s books, they of course include disputed and litigated claims, &c. The Committee regret that they have not the means of stating positively to what these may amount. They are left upon this subject to conjecture. Upon their appointment, the Committee caused a notice to be given by pub- lication to all persons having such claims to present them, as they presumed such to be the only course which could be adopted to ascertain their amount. This notice was distributed over the line of the Road, and placed in some conspicuous place at the several Offices of the Company. No claims have, however, been made under it to the Committee person- ally, although over a year has since then elapsed, and they therefore are of opinion that if such claims had existed to any considerable amount, the claimants would certainly have communicated to them the fact. The Committee have made frequent inquiries of the Officers of the Com- pany, who should have knowledge of such claims, but they have not dis- covered any by that process ; they therefore do not believe that the Stock- holders in future need fear much inconvenience or loss, arising from this quarter. There are of course certain litigated claims yet existing, against the Com- pany, for damages, unsettled accounts of contractors, &c. ; such are to be expected in the case of all newly constructed Railroads ; but the Committee do not think that any very large amount will be required to pay them. 121 TENTH. The Earnings from Traffic upon the Vermont Central and the Vermont and Canada Roads^ and the Expenditures incident upon Working these Roads. The Committee have had great difficuly in resolving this branch of their inquiry. It was all important for purposes of comparison, that they should ascertain the earnings of each year by itself, for it is upon such a compari- son, that calculations of future business are mainly to be based. The Books showing the result of this business, were kept at Northfield, and many of the most important were consumed by fire. These Books were compiled from Accounts rendered by connecting roads and by the several Station Agents, from their respective books, but of the Station books, many of those kept at Windsor and West Alburg had also been burnt. Besides this, the Entries in the Books at Northfield, relating to the Earn- ings of the Road, were so made, that it was absolutely impossible, by their aid alone, to separate the Earnings of one year, from those of another. The Committee, to obtain the means of making up their tables of earnings, relied almost exclusively upon the original entries made at the station- houses, where such entries survived the fire. When these books were not to be found, they had recourse for the missing entries to the accounts relating to them which had been rendered by the Station Agents to the OflSce at Northfield ; and from both together, they have been enabled to construct an entire account, the accuracy of which they tested by a com- parison of its final result with the Books at Northfield. In this account they have distinguished the legitimate earnings of the road, from the total earnings represented on the accounts and stations books ; for these books included the business of the Corporation itself done upon the Road, under the general denominations of “ Earnings.” This business consisted of the transportation over the Central Road, of iron and other materials used for Construction ; and cannot of course, with respect to the value of the Road as an investment, be considered as important, for purposes of comparison, and to show the gain of subsequent years, it must of course be disregarded. The Committee did not feel authorized to deduct the amount of this busi- 16 ' 122 ness from their tables, as it must have had an important bearing upon the running expenses, and without assuming an Average which they did not feel justified in doing, (but which each Stockholder can make for himself,) it would have been impossible to have ascertained the precise amount to be deducted ; as the books and accounts do not separate the expenses incident upon the transportation of freight belonging to the Company, from the business done for other parties. The Committee themselves feel confident that these tables of earnings are substantially correct, as they have had opportunities of verifying them by comparing the accounts of stations from which freight was received, with those at which it was delivered, (each station agent keeping accounts of all Freight received as well as that delivered at his station) ; and also by compar- ing the accounts kept by this Company of “ through freight,’' with similar ac- counts obtained from connecting Roads. The receipts from passengers are verified by comparing the accounts of ‘‘ Ticket sales,” rendered by Station Agents, and by the connecting Roads, with the “Passenger Receipts,” as en- tered upon the Books of the Chief Clerk, at Northfield ; these two accounts checking each other, and operating as a guard against fraud, except only in case of collusion. The accounts of these Agents and of connecting roads, however, do not of course include tickets sold for cash by Conductors, as the proceeds of these do not go into the hands of the Station Agents, but are paid over by the Conductors to the Passenger Clerk at Northfield. The Committee have therefore assumed statements of such receipts by the Con- ductors, are correct. The earnings of the Central and Canada Roads, are here treated together, as under the lease of the Canada, they constitute, in fact, but one Road. The Committee have included under one head the earnings from July 1st, 1848 to July 1st, 1850, as the Central was at that time only partially in use, and for these two years, therefore, the earnings will form no reliable criterion for estimating subsequent increase. During these years, the gross earnings amount to §311,993 74. The Company’s materials were, during this time, hauled by teams from the connecting Roads, and, therefore, no deduction is to be imade from these earnings for “ business of the Company.” The Directors had pre- viously made a contract for the hauling of these materials by teams, but it occurring to them afterwards that transportation by steam over their road. 123 when practicable, was cheaper than any other method, they cancelled this contract, paying $6500 for a release therefrom. The Gross Earnings from July 1st, 1850, to July 1st, 1851, amount to . .... $436,57249* Those from July 1st, 1851, to July 1st, 1852, were ....... 515,620 63 From July 1st, ’^1852, to July 1st, 1853, the Gross Earnings were ..... 682,438 67 It will be perceived that the ratio of increase on legitimate business after the whole road was in use, (the business done for the Company being omitted,) is as follows: — RECEIPTS. — GAIN OVER PREVIOUS YEAR. July 1, 1850 to July 1, 1851, $350,072 49. July 1, 1851 to July 1, 1852, 515,620 63, about 47j per ct. increase. July 1, 1852 to July 1, 1853, 682,438 67 “ 32J “ RUNNING EXPENSES. The Committee find these expenses to have been as follows : — From July 1st, 1848, to July 1st, 1850, . . $199,132 96 ‘‘ » 1850, “ 1851, . . 291,616 82 “ “ 1851, “ 1852, . . 612,568 64 “ “ 1852, 1853, . . 743,499 92 $1,846,818 34 A distinction is to be made between the ‘‘ Running Expenses,’’ properly so called, that is to say, the expenses of working the road, and other expenses, which although not incident to the working of the road, are, nevertheless, chargeable against the earnings: Such as. Rent paid for the Canada Road, and Interest paid on the Bonds or funded debt. *To show the comparative increase of traffic upon the Road, the sum of $86,600 must be deducted from this amount, this being the charge for freight of iron and materials, transported for the use of the Road itself. ♦ 124 Of this sum of $1,846,818 34 the following sums were expended during the first two years, viz. : — Interest paid on Coupons, . . $47,289 00 From July, 1850, to July, 1851 : — Interest paid on Coupons, . . 75,735 00 From July, 1851, to July, 1852 : — Interest paid on Coupons, . Rent to Vermont and Canada, . 121,972 00 . 90,000 00 From July 1852, to July 1853 : — Interest paid on Coupons, . Rent to Vermont and Canada, . 210,094 50 . 103,540 00 The expense incident upon the working of the Road alone, during the above periods, may therefore be thus stated. July, 1848, to July, 1850, . “ 1850, “ 1851, . “ 1851, “ 1852, . ‘‘ 1852, ‘‘ 1853, . $151,843 96 215,881 82 400,596 64 429,865 42 Comparing the earnings of these years with the expenses, the Committee obtain the following results : — Total Earnings in Gross, . Running Expenses for working the Road, $1,946,625 53 1,198,187 84 The expenses for working the Road for these years, therefore, amount to about 61 per cent, of the gross earnings. From July 1st, 1851, to July 1st, 1852, the expenses of working the Road were very much increased from want of proper equipment, which, at that time, was insufficient to perform the business of the Corporation, and being overworked, it was reduced very much in its condition ; this caused a corresponding increase in repairs, and in the expense of running it. 125 The Incidental Expenses were also very great at this time, owing to the additional number of officers and clerks, employed in Boston, in the service of the Corporation. And, at this time, also, a portion of the equipment, viz., to the value of $35,000 was destroyed by fire. Since July 1, 1852, these expenses have been much lessened. The equipment has been increased, and its condition improved. The expenses in Boston have been reduced, and as the Stockholders will observe by these tables, the “ Running Expenses ” have not increased in proportion to the earnings. ELEVENTH. The future prospects of the Vermont Central and Vermont and Canada Railroads ; and their capacity for husmess. It ought not to be expected that the Committee in treating of the prospects of this Company, should do anything more than afford to Stock- holders an opportunity to predict the future, by giving to them the results of their examination of the past, and showing the increase in the business of the Corporation since its commencement up to the present time. To form any reliable estimate upon this subject, the present financial condition of the Company first demands consideration. At the date of this Report, it will be perceived, (page 135,) that the liabilities of the Company, including its Bonds, due in 1852 and 1§56, are but $476,169 64. That it has assets on hand, amounting to $632,970 37, to provide for this debt, estimating these assets at a low value, and not taking into con- sideration the claim against the Vermont and Canada. The Road and Equipment still require additions and repairs, but the ' Committee believe that if economically applied to this object, the surplus assets will be found sufficient for such outlays. No additional floating debt need therefore be created, and the road may be considered as costing, when finished, $8,500,000, which will be repre- sented by its Stock at $5,000,000, and 1st and 2d Mortgage Bonds $8,500,000. 126 The gross earnings of the whole Road for the year ending July 1st, 1853, amount to ....... §682,438 67 Those of the previous year were .... §515,600 63 Showing an increase in favor of the year ending in July, 1853, of . . .... §166,818 04 The gross earnings for the year ending July, 1851, were §436,572 49. But in this sum is included, as has before been stated, the business done for the Company itself — which amounted to about §86,500. This should be deducted, therefore, to ascertain the actual increase. Making this deduc- tion, we find the gross earnings for this year to be §350,072 49. Showing an increase in favor of the year ending July 1st, 1852, over the previous year, of ....... §165,548 14 Thus the gain of the year ending July 1st, 1853, over that ending July 1st, 1852, is about 32^ per cent. The gain of the year ending July 1st, 1852, over the previous year, is about 47^ per cent. For reasons before stated, the business done upon the road since its open- ing, to July 1st, 1850, can give us no assistance in this comparison, as the road was then but partially completed. The average rate of increase in business has hitherto been much larger than that upon other roads in this section of the country ; for within the last two years, the earnings of the Company have nearly doubled. The business of 1853, amounting to §682,438 67, whilst, that of 1851, was but §350,07 2 49. This is probably to be accounted for by the fact that in the earlier history of the Road, much traffic was diverted from its legitimate direction, in consequence of the want of proper equipment and of other facilities for its convenient accommodation ; which evils have now been in great measure remedied, and as these adverse influences have now comparatively ceased to operate, a similar average gain in future ought not to be expected. Much has been done of late, however, to open to the Company new sources of profit, by extending its business connections, by an improvement in its 127 rates of toll, and by avoiding, to a great extent, the losses consequent upon competition. And there is room for a reduction in the expenses inci- dent to the working of the Road. — It would scarcely be fair, therefore, to limit the future prospects of the Corporation for some years yet to come, to the average rate of gain upon other Railroads, which were not, at their commencement, subjected to the same difficulties encountered by the Cen- tral, and have not now the advantage of developing so rapidly the resources of a new country. The expenses of running the Road since July 1st, 1848, up to July 1st, 1853, (five years,) average about 61J per cent, upon the gross earnings for the same period. This average would be still larger should we confine the comparison to the years 1850-51 and 1852, alone — but during the last two years unusual outlays for repairs, &c., have been made, which ought not again to be required to a similar extent. The running expenses will not probably increase in the same ratio with the Receipts, as a considerable portion of these expenses will not materially vary with the amount of business done. Salaries, repairs of Depots and of Road, (other than “ track repairs,”) the wages of the greater number of the operatives employed, except so far as the prices of labor may vary from time to time, remaining fixed or nearly so. These items of expendi- ture upon the Central and Canada Roads, can not now be estimated at less than $150,000 per annum, and therefore they represent more than one third of the whole expense of running. ‘If the present business of the Roads should again be doubled, these expenses would probably be but slightly increased, so that upon such aup hypothesis, if 100 per cent, were added to the business of the last year, the Road would have a gross increase of nearly $1,400,000, whilst the expenses would be but little more than $700,000, or about 50 per cent., upon the earnings. This rate of 61 J per cent, upon the earnings, however, is not dispropor- tionately high when compared with the expenses of other Roads similarly situated. The Committee to test this, subjoin a statement taken from the Returns -made by the principal Railroad Companies in this vicinity to the Legislature of Massachusetts. It will be perceived that but six (or one third) of these Roads are worked for about 50 per cent, of their Gross Earnings; the Expenses of the remaining twelve varying from 55 percent, of, to their entire income, and averaging 65 fer cent. 128 “Extract from Annual Reports of the Railroad Corporations in the State of Massachusetts, for 1852, to which is added an Abstract OF SAID Returns, prepared by the Secretary of the Commonwealth, 1853. Western, Length of Road. MILES. . 155 . Earnings. $1,339,873 09 Running Expenses. . . $656,678 17 Boston and Maine, 74 . 661,521 63 . . 323,306 21 Vermont and Mass., . 69 . 218,679 14 . . 200,030 36 New London, Willimantic and Palmer, 66 . 114,410 78 . . 123,268 32 Norwich and Worcester, . 59 . 267,126 98 . . 191,434 72 Cheshire, 53^ . 287,768 60 . . 232,501 65 Fitchburg, 51 . 574,574 36 . . 341,787 04 Connecticut River, 50 . 229,004 98 . . 156,976 02 Worcester and Nashua, 45^ . 162,109 20 . . 95,209 20 Boston and Worcester, 44^ . 758,819 47 . . 427,522 68 Providence and Worcester, 43^ . 253,690 54 . . 114,175 93 Fall River, .... 42 . 229,445 37 . . 129,855 89 Boston and Providence, . 41 . 429,484 34 . . 216,858 92 Eastern, 38 . 488,973 31 . . 247,955 92 Old Colony, .... 37 . 322.213 74 . . 220,703 30 Cape Cod Branch, . . 28 60,743 33 . . 30,687 08 Norfolk County, . . . 26 67,251 90 . . 43,835 93 Boston and Lowell, 26 . 388,108 37 . . 257,227 33 18 Roads, $6,853,799,13 $4,010,014,67 Or about 59 per cent, of Earnings, for Running Expenses. The Central and Canada Companies possess a great advantage over most of the Railroads here mentioned, in respect to. the low price at which they can procure fuel. The average amount paid by them for fuel, not being more than $2,50 per cord, amounting only to about twelve cents per mile run. The net earnings over the running expenses, must of course be first 129 applied to the payment of Rent to the Canada Road, and of Interest on the Funded Debt; and no Dividend can be realized by Stockholders until these be provided for. Up to the date of this Report, the Earnings have not been sufficient to meet this Rent and Interest. During the year ending July 1st, 1853, the net Earnings were but $252,573 25, — deducting from this sum the Rent of the Canada, $103,540, Interest on the First Mortgage Bonds, 140,000, we have a surplus of only $9,033 25, to meet the Interest on the Second Mortgage and other Bonds outstanding, — which Interest, during the last year, amounted to $70,094 50. The net Receipts of the Road, therefore, can only be said at present to pay the Canada Rent, Interest on the First Mortgage, and about three-fourths of one per cent, upon the remaining Funded and other Debt of the Com- pany. But it is alleged that the Expenses for the past year have been un- usually high, and some allowance should perhaps be made on this account in favor of the Company. Should the business of the Road increase for the next twelve months at the average rate shown by a comparison of the last two years, the net earnings of the next year will suffice to pay this defi- ciency of interest ; and in that event there will probably, (if the Road be well managed,) be no difficulty in providing for the Funded Debt in future. This is as much as ought now to be expected, — the Funded Debt of the Vermont Central Railroad alone, now actually representing the whole esti- mated cost at which the entire work was originally to have been constructed, and upon which calculations of future dividends were made by the original subscribers ! At the same time, however, a reasonable prospect of Dividends is offered to Stockholders, based upon the increasing prosperity of the Road ; these Dividends, however, ought not for the present to be hoped for, as the Commit- tee do not believe that if sufficient reservations be made from the earnings to put and keep the Road and Equipment in proper order, any surplus ap- plicable to Dividends can be realized for a long time yet to come. Neither should Stockholders anticipate Dividends upon the average par of their Stock. For this Stock has cost $5,000,000 ; and of this $5,000,000 about one half has been, as before stated, actually lost ; that is to say, there is nothing whatever in value to represent this outlay. If a deduc- tion should be made to cover this loss, the par value of the Stock would be 17 130 but about $25 per share. Each Stockholder, therefore, may fairly con- sider that one half of the average par of his Stock, estimated at $50, has been sunk ; or, in other words, if the money actually paid upon his Stock had been strictly applied to the construction of the Road, the Funded Debt of the Corporation would not now, in the opinion of the Committee, have amounted to much more than $500,000. Indeed the Committee doubt whether in such event any Funded Debt would have existed, for it is easy to conceive that this sum of $500,000 may have been expended in addi- tional contributions towards the construction of the Vermont and Canada, and upon the unfinished work of the Contractor, Belknap, although the Committee have not been able to ascertain (for causes heretofore referred to) whether this be actually the case or not. Another circumstance having an unfavorable effect upon the Stock, is the high rates of interest paid upon the Funded Debt, and as Rent to the Canada Road. This is readily seen by taking into view the reported cost of both Roads together, the aggregate of which is about $10,000,000. The net earnings of the last year, being over $250,000, would have paid 2| per cent, upon the whole principal, or 3^ per cent, upon the actual cost of the Road, deducting the $2,500,000 which have been lost ; and if but 6 per cent, per annum was paid upon the Canada Road, and upon the Funded Debt, these earnings for the last year would have nearly covered the whole Rent and Interest. If, hereafter, the public confidence in the prospects and management of the Road be established, there will be no future difficulty in renewing the Funded Debt, at the lowest rate of interest, should this be thought ex- pedient, and thus the Stockholders will become comparatively relieved of a burthen from the pressure of which they now suffer severely. The Committee do not intend to depreciate the value of the Stock, by the foregoing remarks ; nor do they wish, on the other hand, to create ex- pectations which may not be realized. It is certainly true, that if the busi- ness of the Road goes on increasing at its present rates, it will soon be suf- ficient to pay interest upon the actual par of the Stock. If this increase be confined to the same rate shown by other Roads in this section of the country, (upon which an average gain of 8 per cent, per annum upon gross earnings has hitherto been considered a standard) interest upon the full par of the Stock will be earned at the time when the First Mortgage Bonds fall 131 due, — estimating the Running Expenses at that time to amount to 50 per cent, of the income then earned. Stockholders have the same data with the Committee, for estimating whether either, and which of these two hypotheses can reasonably be entertained. It must be borne in mind, however, that the future success of this Road mainly depends upon its careful and judicious management, and upon its through business, which now amounts to more than three-fourths of its entire earnings ; and therefore it is most essential that every facility be afforded which has a tendency to develop and increase this branch of its income. To effect this, it is indispensable that the Road should be amply provided with suitable equipment and eflBcient Officers, and that the public should feel assured that their business will be dispatched with the greatest promptness and regularity. The Committee, in conclusion, recommend that “ Construction Account ” be closed as soon as practicable ; and they think that before the next Annual Meeting all arrangements necessary to effect this may easily be made. WM. SOHIER, WM. R. LEE, ISAAC HINCKLEY. Boston^ July Is^, 1853. ‘i r V ’ I •1^’ 'S'^t ill <* ■ ‘, ; ,,7K 1'> ULlii-ii.h *.'■ :’... :• '• /' . ’r>«l5 ,:i • ',•! ■' • T,.^- •'‘d* *r r ' ■•: i • ''■>•*■ *y'T’ ■ . ! *•' . ' «, • y '’ f' *' ^DWW.-T'» ■• • / .7 ” 'W-'l .. f" r ■-’ 5f!#f - » '■■ -iwUn :-• .: ■ ■ ■ :■ ,’'rt9f-4' ifci- »*'. , .'i '*'V‘' '■ v'l.fjliK'j i f -1 ' '■'• ' ' V \ ‘. J::,' ..• ‘r* :^^-h!rc^ ’' • • r_:" , .^.r % *--».♦ ^4 ! id)i\‘:. k'} r*^ ;.'f JV. • • : .' «t077 ., .v., .,: • A „. ,_,7. .•of>:A^T'> ^ ' dA-iw] . ? , • f.'' MX / / j * ' - •k.'^ftll/X'! •'*' ^ ‘~l .»'iA’-'^ 1 ' f: MiL'^. -liff ? * ' • • S .'' hm ' v.:j ! “*T [‘j-. .:■-: f':‘0 ^ '"V «• ¥ - . ■ i ‘ ■, M l.'fm W Vf.>,‘''( liVfrt^ ■ 'VV <« :, ■ ' •. T* ■ ' , -i [ i.^y ':v'W ,: . .v l./^, . . : 7tv<, wf,' *;♦•• ‘ ' ''■ ^ *.1: 't !'• ..':.f ■ . )V ^ ■'S|n V ! ' J .^; AC ^ L r %. OA :. U -*> ■ I S :;> ' .'-i^ f ’. : : , ..^ .1 * l "» ' tA '- ' BALANCE SHEET PEKMANENT INVESTMENT, Construction — Engineering, . $115,208.00 Land Damages, . 410,372.39 Grading, .... . 1,799,909.54 Superstructure, . 84,661.59 Bridging and Masonry, . . 814,326.23 Fencing, .... 42,878.88 Iron, . 897,665.49 Incidentals of Construction, . . 1,459,988.84 Wharf at Burlington, . 46,808.18 Incidental Expenses, 42,640.86 Interest, .... . 763,957.68 Discount on Bonds, . 528,856.18 Depots, .... . 185,155.81 Shop Furniture, . 14,646.98 Car Shop, .... 6,654.80 BumettLzing Ties, 42,464.46 Equipment — Engines, .... . 334,635.52 Cars, . 466,995.16 801,630.68 Tenements — 14,754.13 134 RESOURCES. Cash, $35,496.38 Notes Receivable, (valued at $27,702.74,) . . 13,851.37 Stocks, (estimated at present value,) viz. 1846 Shares Vermont Central Railroad, 33,228 1150 “ Grand Junction “ 59,800 135 “ Vermont Valley “ 120 “ “ Telegraph, 93,028.00 Estate of S. F. Belkxap — Claim on Ogdensburgh R. R., . . " 40,000 500 shares Grand Junction Railroad, 26,750 66,750.00 Estate of Josiah Quincy, Jr., 847 Shares Vermont Central, . . 15,246 South Shore Railroad Bonds at 80 c., 72,320 Sundry Mortgages, .... 15,000 29 Shares Hingham Steamboat, 102,566.00 313,691.75 MISCELLANEOUS. Vermont and Canada Railroad account, 2,098.95 Assessments unpaid, . . . 26,305.00 Profit and Loss, .... 31,504.85 Trustees First Mortgage Bonds, . 96,652.37 Jas. Moore, Superintendent, . 3,499.51 Second Mortgage Bonds, not issued, $475,700. 160,060.68 $8,544,033.48 135 FUNDED DEBT. Capital Stock, 5,000.000.00 First Mortgage Bonds, 2,000,000.00 Second “ “ 1,024,300.00 8,024,300.00 LIABILITIES. Bonds due in 1852 and 1856, . 225,400.00 Interest on Assessments, Payable in Bonds of 1856, 26,606.91 Coupons, (due July 1, 1853,) 43,880.00 Individual Accounts, 1,534.70 45,414.70 Notes Payable — Due on demand, . 20,000,00 u July, 1853, 3,300.00 (( Aug. “ . . . 32,328.47 (( Sept. “ . . . 32,856.13 (( Oct. “ . . . 12,508.29 u Nov. “ . . . 45,786.77 u Dec. “ . . . 5,091.00 u Jan. 1854, 18,770.75 il Feb. “ ... 11,319.00 ll March “ ... 5,000.00 u April “ ... 19,000.00 (( June “ ... 8,244.41 214,244.41 511,666.02 Suspense, 8,067.46 $8,544,033.48 "■'IK / i K', t'w, > V •J .J J u.h 111 V • V , (jIV!"! .1 ^ i - • '^ . \ t«.» . ■;:..).^u^t • i . MKCtul.C, .< ''.''VlVi. * , . ’ i: ^• ; v^ils ^ — ^ ' f •^ : k^, f r: r.jj .... , ‘■r-i*. ' ■ 'I "Jt rJMl': W. P. PAEROTT’S REPORT. \ 18 P *7- Office of the Vermont Central Eailroad, Northfield, Vt., June 22d, 1853. W. P. Parrott, Esq., Boston : Dear Sir : — The Committee appointed by the Stockholders of the Ver- mont Central Bailroad.to examine into the affairs of their Boad, wish to avail themselves of yonr professional services in aid of their investigation. If agreeable to you, they wish you to examine into and report upon the general character of the “Road,” as regards its allignment, mode of construction, masonry, road bed, superstructure, fences, cars, freight, passenger and engine houses, shops and woodsheds ; having a view always to the adaptability of the same to the requirements of the “Road.” They would also request you to report upon the present condition of those elements of the Road, which are liable to depreciation, with a view to the deter- mination of their future value. They would not be understood as wishing an instrumental survey of the Road made, but would like to have you make such personal examination as you may deem necessary to enable you to obtain the desired knowledge. If you consent to act in this matter, please commence as' soon as your other business will allow you, to make the examination, and on advising this Committee of your readiness to begin, they will see that all proper facilities are afforded you. Very Respectfully, Your obedient servant, (Signed,) ISAAC HINCKLEY, For the Committee. 4, • .!3l« ' t*«’ ■'■ ■^[iificy ' ^'i.' ! f ' V il 4 . :‘r !'''’|jp ,'ti';'4«iAv»i.i. /ii.,i'rfiaii'>9. j^ip5^/^ yin^i • i H - I?: f ■■^o\^>?:^-' fr ' ‘ * *. «. ^ "'’JV '^' ’)*..ifii^ l%^}u ^ -j' 4^i{a* St ij -^rl ' '■ ' f'-' '-■•I t /►#»' J: 4jri? ''f ? i V- .-, ^Vv*^ t^>^^‘(t'V>‘7;V/ . .: ilKft „, Ir^aKT ‘ ^ l>. 'S&L^l I5 ., ; .-it.i>> .» _ ,:^!lij^j ie-v i»1^i ,|^|i4iMiai 'M t. ' ^ s ■ ■;:!■ l.v£ r--,x * * ' P V-, ■ '»i^j<*‘i •itf S : 'A> HiiKI 5 s^V‘S”*^’. 0k\ -‘V* I* ttry^ •*>.» ♦i^ty V W.Vi4i. il^ ■• -iNtMi'T f--i .’^ ' . :ft» fcaijpiJ ■ ■ ■:• ; .-' x',^'-' -y - ■ "■ . » •^- ’4 ^ -‘*^ y* - j ^ '■‘K^ . X-- ! . • .At; ,A -'N • .T ? »i ( 50 A- Ki d^V ' ■ *A 1 ( ‘ -•- . Z: I a'KE'a'.' I ^ «‘*s • -'I f# ■• lii'lll '¥0 -m/i: ■^u; o> '( K y%U f«,. r.; -rx. . styp i.-f-iJfKS.. 1 . ?- i 5 i • u a f I -.1 rt 'i- »f ] ',,>■ 1 ■ • 1i v' ‘ 4 lji^ 'V.) »%♦ • ’ .-/t #frHi; ISM i ^'•r ‘ 8 ar-««^^r-^i^/ •! ;W.i ' B#- ^__ --#; ^ •ir>4 - ‘«aii&i ■■^jA ' I'fTc' ! tt •W.ifc*Mi r.. -Slat .»■;'> idk( - i.-< •»»fy^t o'r >*«»«. /.>**f-^ '> Ir" '. I- a ir^^ ‘*^^V, *- >-*^- > '^ 4 *''- f^tioy ../> ■ .'A' ,'<^ - 41 , yi ;>4 5! 4^#. iliiit^ '«d|^ V5S»:^ JfSf904^ • jSi^- ^ ^ i vil » («• vi> i:^^-*-^! v(* ‘.= , 1 ^ » i s M feT» r *- 4 ^ : ^«<-, i( ^ -e ^ff icH^ / -■l-. *• igiM.> 4 »v''‘ - 4 * ' « . ‘1 'Hf f. o-.V Mid TABLE I EXPLANATION OF THE FOLLOWING ACCOUNTS RELATING TO THE VERMONT AND CANADA RAILROAD. RENT ACCOUNT. The payment of Rent to tlie Vermont and Canada Railroad Company commenced on the 1st of December, 1849, according to the terms of the Lease, and was to be paid by the Vermont Central Railroad Company semi-anniially. Tliese semi-annual pay- ments not having been made promptly during the first two years, interest is estimated upon them in the Table annexed. LOAN ACCOUNT. The next account represents monies loaned to the Vermont and Canada Railroad Company by the Vermont Central Railroad Company, of which no entry was made in the Ledger account of the latter. For a portion of these loans repayment was made by passing to the Vermont Central, sundry notes on time, charging the amount represented on their face as cash. As the Vermont Central Railroad Company Avere obliged to have these notes discounted, in order to realize the sums loaned to the Vermont and Canada, the discount so jiaid is deducted from the face of the notes, and the latter Company is credited, in the account here presented, with the cash proceeds of the notes. No interest having been alloAved by the Vermont and Canada Company upon these loans, such interest is, in the annexed table, charged against that Company. ASSUMED LIABILITIES. This account represents certain Notes due from the Vermont and Canada Company to sundry persons, which that Company were unable to meet. The Vermont Central Company assumed the payment of these Notes, many of which liad been sometime due, and upon such, interest and expenses of protest were paid. For these assumed liabilities, the Vermont and Canada Company transferred to the Vermont Central Company, in repayment, 3875 Shares of Stock, at par value, in exchange for a similar amount in Vermont and Canada Company’s notes, namely, $387,500. In the I able here presented, the interest and expenses paid by the Vermont Central Company upon the overdue notes, is made a charge against the Vermont and Canada Company, deducting the discount allowed on Notes paid before they matured ; and lliat Company is also charged with interest upon the advances made for them, unlil the same were, repaid to the Vermont Central Company. "The Stock charged the latter, at par, is here credited to the Vermont and Canada Company at the rate it sold lor. The Balances due upon all the above name 1849. July 1^ 1860. July 1, “ 1, 1850. Sep. 2, “ 6 , “ 6 , “ 7, “ 14, “ 16, “ 17, “ 18, “ 20 , Oct. 10, “ 12 , “ 12 , “ 14, “ 22 , » 25, “ 26, By Interest to debit in Account, “ Balance of Accoiuit canned forward. By Interest to debit in Account, Balance of Account carried forward. By Interest to debit in Account, Balance of Account carried forward. By Interest to debit in Account, Balance of Account carried forward, By Interest to debit in Account, “ Balance of Account carried forward. ByNote due Mar. 5, 1851, for $2,100.00, pd.ds. $101.32, net, Jan. Feb. 9, “ < Mar.lO, “ ‘ Jan. 10, \ u , Mar. 12, j Mar. 13, ) » , “ 17, f “ 19, “ ' “ 20 , “ ' • “ 21 , “ ' “ 23, “ ' No. 68, ' “ 70, “ Cash from Treasurer, 5.000. 00, 6 . 000 . 00 , 10 , 000 . 00 , 9.500.00, 17,000.00, 2.500.00, 1 . 000 . 00 , 2.500.00, 6,378.14, 6 . 000 . 00 , 3,000.00, 178.75, 203.75, 482.50, 364.63, 848.79, 120.63, 48.25, 120.63, 289.50, 217.50, 122.50, Note due No. 71, for $5,000.00, pd. dis. $215.83, nett, “ “ “ 72, “ 6,000.00, “ 215.83, “ “ “ » 51, “ 6,000.00, “ 125.8.3, “ Carried oyer, $1,024 26 $1,024 26 $1,085 71 $1,085 71 $1,210 37 $1,210 37 $1,282 99 $1,282 99 $48,652 41 $48,652 41 $1,998 68 4,821 26 4,796 25 9,517 50 9,135 37 16,151 21 2.379 37 951 75 3.379 37 5,088 64 4,782 50 2,878 00 11,000 00 26,000 00 4,784 17 4,784 17 4,874 17 $116,322 40 Int to July 1, 1846. $34 34 $34 34 Int. to July 1, 1847. $61 45 $61 45 Int. to Julyl, 1848. $65 45 $65 45 Int to July 1, 1849. $72 62 $72 62 Int to July 1,1860. $1,215 00 $1,215 00 Int to July 1, 18,)!. $99 60 237 84 235 81 466 36 444 60 772 57 113 02 45 05 112 23 , 239 91 208 04 124 23 474 84 1,113 67 198 54 196 15 199 03 $;>281 49 12 TABLE L — (Continued.) Dr. Vermont Canada Railroad Company in Account Current with Feh. 1851. Jan. 10, “ 13, “ 14, “ 16, “ 17, “ 18, “ 20 , “ 21 , “ 22 , 24, 31, “ 8 , “ 12 , “ 13, “ 15, “ 18, “ 22 , “ 24, “ 27, Mar. 1, “ 3, “ 5, “ 8, “ 10 , “ 11 , “ 12 , “ 13, “ 15, “ 17, “ 18, “ 19, “ 22 , “ 24, “ 25, “ 26, “ 27, “ 29, “ 31, April 1, “ 2, “ 5 , “ 8 . Mav “ 20 , “ 22 , “ 16, “ 24, “ 26, June 5, “ 7 , “ “ 11 , “ 14, “ 16, “ 16, To amount brought forward. To Cash paid their Treasurer, “ “ “ Davis, Brooks & Co., “ Cash paid their Treasurer, Davis, Brooks & Co. their Treasurer, J. W. Glidden, their Treasurer, “ Agent at Northfield, . “ Treasurer, Agent at Northfield, Treasurer, Agent at Noilhfield,. Treasurer, Agent at Northfield, Carried forward, $877,641 78 Int. to Julyl,18i $287,783 17 $9,508 70 3,000 00 85 50 7,826 96 219 16 724 66 20 17 500 00 13 75 6,000 00 164 00 7,897 55 214 55 2,500 00 67 08 5,000 00 133 33 6,000 00 132 50 160 48 4 20 3,052 24 76 82 10,012 50 246 97 5,000 00 119 17 2,089 08 48 39 10,500 00 241 50 36,509 29 918 82 2,920 76 64 74 9,000 00 193 50 6,000 00 127 00 2,500 00 51 67 1,924 68 38 49 9,492 93 186 70 12,100 00 233 93 800 00 15 07 17,723 00 327 88 6,050 83 92 60 8,500 00 154 42 7,500 00 135 00 3,300 00 58 30 13,000 00 225 33 1,533 57 26 33 6,815 00 115 86 48,500 00 800 25 2,000 00 32 33 3,500 00 56 00 2,000 00 31 67 13,000 00 203 67 15,000 00 230 00 10,000 00 151 67 2,000 00 30 00 5,000 00 74 17 16,923 78 242 57 2,131 57 29 56 3,000 00 41 00 2,500 00 32 08 3,000 00 38 00 45,294 92 679 42 2,000 00 24 00 1,184 25 13 22 5,000 00 55 00 5,000 00 52 50 483 33 4 91 21,978 31 201 46 8,100 00 63 45 2,800 00 19 60 10,216 67 69 81 3,000 00 19 50 35,382 64 265 37 5,000 00 30 83 13,200 00 77 00 3,000 00 13 00 3,800 00 15 20 3,700 00 13 57 3,600 00 12 00 6,500 00 18 42 7,400 00 18 50 60,729 61 1 151 82 $877,641 78 1 $18,072 98 TABLE 1 . — (Continued.) 13 the Vermont Central Railroad Company for Advances. Cr. 1850. “ 28, » 31, “ 31, Nov. 4, “ 5, U u 6 , L 19, 23, 25, u u 25, 26, 27, 30, Dec. 20, » 20, “ 21 , “ 26, “ 27, “ 28, 1851. Jan. 1, u U il U a u 4, 7 , 8, 8 , 11, 14, 14, “ 16, “ 18, “ 18, “ 20 , “ 24, Feb. 1, “ 5, “ 10 , “ 10 , “ 15, “ 19, “ 21 , “ 24, “ 27, Mar. 3, “ 4, “ 12 , “ 17, “ 21 , “ 22 , “ 24, “ 25, “ 27, Apr. 2, “ 3, “ 4, “ 7, “ 8 , By amount forward By Notes Nos. '50, 57, 58, 59, 61, 64, 65, for $23,500, pd. dis. $697.22, nett “ Note on demand, sold for its face, “ Cash from Treasurer, u a U “ Notes Nos. 52, ’53, 60, e’o’ for $15,000,’ pd.’dis. $4’2'8.64, nett, “ Note No. 67, for $3,000, pd. dis. $101.50, nett “ Notes Nos. 62, 63, for $6,000, pd. ds. $198.89, nett. . “ Cash from Treasurer, “ Note No. 89, for $5,000, pd. dis. $203.13, nett “ Notes. Nos. 83, 90, 91, for $8,000, pd. dis. $289.49, nett “ Cash from Treasurer, “ Note No. 81, for $3,500, pd. dis. $103.64, nett “ Notes Nos. 85, 87, for $6,100, pd. dis. $163,52, nett. . “ Notes Nos. 82, 84, 86, 88, for $12,100, pd. dis. $493.66, nett “ Cash from Treasurer, “ Notes Nos. 105, 106, 115, for $8,000, pd. dis. $337,83, nett “ Note No. 116, for $4,500, pd. dis. $182.81, nett “ Notes Nos. 97, 102, 103, for $9,900, pd. dis. $370.36, nett “ Notes Nos. 118, 119, 120, for $20,000, pd. dis. $825.62, nett “ Note No. 117, for $6,000, pd. dis. $259.00, nett “ Cash from Ti'easurer, C( U u u u u u u ii u u “ Note No. 104, for $3,8’o’o’, ’pel’ dis.’ $136.17, nett. . . . . “ Cash from Treasurer, ii ii U “ Albany City Five per Cent. Stock, $8,000, sold at dis. $240.00, nett “ Cash from Treasurer, u a “ Albany City Five per Cent. Stock, $6,000, sold at dis. $180.00, nett “ Cash from Treasurer, “ Note No. 99, for $3,400, pd. dis. $118.05, nett “ Cash from Treasurer, U U u u u u u u u a u a u ii. u a u u Note No. 157, for $5,000, pd. dis. ^241.25, nett. Cash from Treasurer, u u £( U ii ii a iL £4 ££ ££ ££ ££ ££ ££ ££ ££ ££ ££ ££ Can'ied over. $116,322 40 22,802 78 20,000 00 31.000 00 8,000 00 14,571 36 2,898 50 5,801 11 2,434 38 4,796 87 7,710 51 2,000 00 3,396 36 5,936 48 11,606 34 6,000 00 7.662 17 4,317 19 9,529 64 19,174 38 5,741 00 11,500 00 10.000 00 9,581 05 1,708 58 9,568 34 3.663 83 5.000 00 15,000 00 7,760 00 6,410 50 5,741 66 5,820 00 26,368 97 3,281 95 4.500 00 3.000 00 1.500 00 4,758 75 3,810 00 6,540 33 9,987 54 1,425 00 2.000 00 6,697 57 4,949 10 56,340 00 1,000 00 5,695 50 9,551 43 5,964 00 8,532 71 9,466 67 5,396 00 14,644 75 1,951 75 4,733 33 12,938 67 $618,489 55 Int. to July 1, 1851. $5,281 49 923 51 803 33 1,245 17 316 00 573 13 113 52 226 24 90 07 174 29 277 58 72 00 121 70 211 74 408 15 191 00 243 92 136 71 293 83 588 02 175 10 345 00 296 67 282 64 49 55 275 89 105 64 141 67 417 50 215 99 176 30 155 99 158 11 707 58 85 89 112 50 73 00 35 2<> 111 83 86 36 143 88 216 40 30 16 41 33 131 72 96 51 1,023 51 17 33 94 93 157 60 96 42 136 52 148 31 80 04 214 79 28 30 66 27 178 99 $19,202 87 14 TABLE I. — (Continued.) Dr. Vermont Canada Raihoad Company in Account Current with 1S51. , To Amount brought forward, June IS, ■ To Cash paid their Treasurer,"!^ “ 20 , . “ 21 , “ 23, 24, Julv 1, Balance of Interest to Credit in Account, 8877,641 78 3,300 00 3.200 00 3,100 00 8,000 00 4,500 00 20,000 00 Int. to Julyl,lS52. Si8,072 98 7 15 5 87 5 17 10 67 5 25 3 33 3,340 67 1851. : To Balance of Account brought forward, 1, I Cash paid their Treasurer, Aug. 3 , L| 10 ,: 12 , 12 , ! 11. i 19, ! 11 , ■ Sept. 11 . 12 , 13,1 14,: 16, I 16, I 20 , 22 2? I 26, ; 27, : 28, j 29, ; 30, ; 1 , 5, 10 , 11 , 12 ,: 13 , : I Agent at Xonhfield, Treasurer, S919.741 78 821,451,09 Int. to Julv 1,1852. Camed forward. S65.429 66 83,925 78 21.000 00 1,260 00 5,000 00 298 33 10,000 00 : 590 00 22.000 00 1.287 00 12,612 50 735 73 3,000 00 174 50 6,000 00 ■ 347 00 12,700 00 ; 723 90 27,500 00 1,558 33 5.000 00 280 83 8.000 00 448 00 3.000 00 ' 162 00 7.100 00 382 22 2;000 00 j 107 33 5,000 00 i 266 67 3,000 00 i 159 50 5,000 00 ; 265 00 14.200 00 1 750 23 10,000 00 i 525 00 49,438 46 i 2,595 52 3,200 00 i 165 87 8,100 00 1 417 15 4,450 00 ^ 228 43 3,350 00 170 29 2,500 00 ' 126 67 3,250 00 ’ 164 13 10,150 00 , 510 88 3,000 00 1 150 50 5,000 00 : 250 00 5/200 00 : 256 53 5,000 00 ' 242 50 15,000 00 . 725 00 3.500 00 168 58 45,000 00 1 2,160 00 8413,680 62 822,579 40 TABLE L — (Continued.) 15 the Vermont Central Railroad Company^ for Advances- Cr. Int. to July 1,1852. 1851. By Amount brought forward, . . . . $618,489 55 $19,202 87 April 9, Bv Cash from Treasurer, 17,070 49 233 29 “ 11, u (( (( 692 07 9 23 » 14, “ a LL 16,371 66 210 11 “ 18, U a n 6,443 60 ! 78 40 “ 19, “ LL (4 32,187 02 386 24 » 22, a LL 44 4,350 96 50 03 “ 24, u 44 44 8,240 55 92 02 “ 25, u 44 44 3,439 80 37 84 “ 28, “ 22,422 41 235 43 “ 29, “ 44 44 1,483 12 15 32 “ 30, u 44 44 2,899 50 29 48 May 1, u 44 44 9,731 87 97 32 ““ 3, u 44 44 7,000 00 67 67 “ 4, “ 44 44 13,859 18 131 66 “ 6, 44 44 11,051 94 101 31 “ 7, u 44 44 3,827 33 34 44 “ 8, i( 44 44 3,982 95 35 19 “ 13, u 44 44 14,307 69 114 47 “ 15, u 44 44 3,586 40 27 50 “ 20, “ 44 44 4,191 47 28 64 “ 21, u 44 44 9,942 89 66 29 “ 28, ii 44 44 16,000 00 88 00 44 44 2,600 00 13 87 June 5, 44 44 6,800 00 29 47 “ 10, u 44 44 10,000 00 35 00 July 1, “ Balance of Interest from opposite side, . . 3,340 67 “ 1, “ “ “ Account carried forward, .... 65,429 66 $919,741 78 $21,451 09 1851. Int. to Julyl, 1852. July 2, Bv Cash from Treasurer, $1,000 00 $59 83 “ 8, ii 44 44 44 1,400 00 82 37 “ IL U 44 44 44 5,500 00 320 83 “ 23, u 44 44 44 5,800 00 326 73 Aug. 6, u 44 44 44 94,178 00 5,101 31 “ 12, Li 44 44 44 19,756 00 1,050 36 Oct. 31, H V. C. R. R. Co’s Note given up, due Oct. 21, 1851, 16,200 00 675 00 “ 31, “ “ » Nov. 5, “ 2,500 00 98 33 » 31, Li u if it a 8, “ 8,000 00 310 67 “ 31, Li a a a u 12, “ 3,500 00 133 59 “ 31, H 44 44 44 44 13, “ 5,000 00 190 00 “ 31, U 44 44 44 44 15, “ 4,000 00 150 67 “ 31, u 44 44 44 44 20, “ 5,000 00 184 17 “ 31, u 44 44 44 44 22, “ 10,000 00 365 00 “ 31, “ “ “ Dec. 15, “ 8,500 00 277 67 “ 31, Li “ “ “ Jan. 4, 1852, 5,000 00 147 50 “ 31, u ti ti it a 13, “ 5,000 00 140 00 “ 31, Li a a if it 16, “ 5,000 00 137 50 “ 31, u ti a a a ir, “ ■ 5,000 00 136 67 “ 31, Li ti it a a 19, “ 3,000 00 81 00 “ 31, u if a a a 24, “ 14,000 00 366 33 ■ “ 31, Li ti it a u 28, “ 5,000 00 127 50 “ 31, Li “ “ “ Feb. 1, “ 1,000 00 25 00 “ 31, Li 44 44 44 44 7, “ 5,000 00 120 00 “ 31, Li 44 44 44 44 8, “ 15,000 00 357 50 “ 31, Li 44 44 44 44 17, “ 10,000 00 223 33 “ 31, Li 44 44 44 44 19, “ 20,000 00 440 00 “ 31, Li 44 44 44 44 22, 16,000 00 344 00 “ 31, U 44 44 44 44 23, “ 12,700 00 270 93 “ 31, Li 44 44 44 44 24, “ 1,500 00 31 75 “ 31, Li 44 44 44 44 25, “ 5,000 00 105 00 “ 31, Li “ “ “ Mar. 4, “ 2,500 00 48 75 “ 31, Li (4 44 44 44 6, “ 4,500 00 86 25 “ 31, LL 44 44 44 44 7, “ 6,000 00 114 00 “ 31, Li 44 44 44 44 12, “ 3,000 00 54 '50 Carried forward, $334,534 00 $12,684 04 16 TABLE I. — (Continued.) Dr. Vermont Canada Railroad Company in Account Current with 1851. To Amount brought forAvard, $413,680 62 3,300 00 5,200 00 Int. to July 1, 1852. $22,579 40 155 65 Sep. 18, “ 23, To Cash paid their Treasurer, 240 93 “ 24, (i (( iL U 6,000 00 5,000 00 15,300 00 10,000 00 10,000 00 25,550 00 4,840 91 3,750 00 277 00 U iL ii U (( 230 00 “ 27, U a (4 ii iL 698 70 451 67 441 67 1,092 26 205 75 158 75 “ 30, U 44 44 44 44 Oct. 6, 44 44 44 44 44 “ is' 44 44 44 44 44 “ 16, “ “ “ “ Agent at Northfield, “ 17, “ “ “ “ Treasurer, “ 1^ 44 44 44 44 44 3,650 00 3,550 00 258 31 153 91 “ 21, 44 44 44 44 44 147 92 Nov. 1, H H U ll n 10 33 Dec. 1, “ “ “ “ Agent at Northfield, 63,121 73 2,209 26 623 09 737 45 1852. Jan. 16, 22,657 60 82,534 74 10,000 00 Feb. 15, U (1 (( u U ll “ 17, “ “ “ “ Treasurer, 223 33 8 40 94 44 “ 25, 44 44 44 44 44 400 00 “ 28, 44 44 44 44 44 4,607 00 224 14 Mar. 10, 44 44 44 44 44 4 14 64 27 “ 16, “ “ “ “ Agent at Northfield, 3,672 82 “ 30, “ “ “ “ Treasurer, 10,018 33 151 94 84 86 May 1, “ “ “ “ Agent at Nortlifield, 8,486 49 10,812 57 5,988 92 June 16, (( ll ll , ll ll ll 27 03 July 1, “ Balance brought from Loan account, “ 1, “ “ “ “ Liabilities assumed, 36,499 54 12,279 48 2,128 88 3,046 37 24 94 “ 1 “ their interest account paid for them, “ l! “ 1, “ 1, “ amount paid C. 0. Whitmore, paid for them, “ “ “ John Smith, “ “ “ $23.75 interest paid on Note, Sept. 1, above, of $5,000, (omitted,) with interest to date, “ 1, “ Wharfage (omitted) per Medallion, Tovmsend, J. Haven, Western Star, and E. Mav, Avith interest to this date, (paid Sept. 24, 1850,)“' 98 58 “ 1, “ Balance of Interest opposite, 13,523 73 25,966 92 “ 1, “ Steamer Ethan Allen, charged back, $776,172 62 $31,072 15 1852. July 1, To Balance of Account brought forward, . . . $108,950 31 2,671 18 1,500 00 1.500 00 2.500 00 1 500 00 Int. to July 1, 1853. $6,537 02 143 80 Aug. 8, “ Cash paid their Agent at Northfield, ... . Oct. 4, “ “ “ “ Note, No. 88, 66 75 65 00 95 00 55 50 36 83 101 85 130 30 38 60 38 20 48 13 203 75 “ 11, “ “ “ “ “ No. 89, Nov. 13, ll ll ll ll ll ’ “ 19, it ii ll ll ll “ 20, “ “ “ “ Acceptance, Ajt/v/v/ \J\J 1,000 00 9 Q.98 10 Dec. 3, “ “ “ “ Note, “ 4, “ “ “ “ Three Notes, ^4^00 XU 3,758 63 1 900 00 “ 18, “ “ “ “ Note, “ 20, “ “ ti ll ll ^ X^^VU uu 1 900 00 1853. Jan. 16, “ “ “ “ Agent at Northfield, Xj^vv UV 1,750 00 7 500 00 » 18, “ “ “ “ Treasurer Feb. 10, tt ll ll ll ll ’ 1 jUvU uv 9 500 00 58 75 9 83 25 93 73 33 33 59 1 51 IQ R9 Mar. 3, tt ll ll ll ll 500 00 1 .364 70 “ 7, It It It ll ll “ 11, It ll ll ll ll X^UU^ 1 u 4 000 00 “ 11, “ “ “ Agent at Northfield,. . . . uu 1,832 03 94 58 1 ^00 “ 25, “ “ “ “ Treasurer “ 31, “ “ “ “ Note “ 31, “ Note of L. Brainerd, due, x,ouo oo At/ Oia 1 n 99 Mav 3, “ Cash paid their Treasurer. . U 1 O #47 Fi VOO OO 55 10 26, “ ll ll ll ll ’ o» t uu uu 9 Ofifi 07 12 13 June 1, “ “ from J. H. Peck, part sale of E. Allen, 42i,UOU U# 2,474 97 12 37 Carried forAvard, $160,501 30 $7,873 31 TABLE L — (Continued.) 17 the Vermont Central Railroad Company, for Advances. Cr. Int. to Julyl,lS5: $334,534 00 1 $12,684 04 12,000 00 216 00 3,500 00 61 83 1,500 00 26 25 4,000 00 68 67 25,000 00 425 00 14,800 00 249 14 12,000 00 200 00 4,000 00 65 33 1,000 00 15 83 4,500 00 69 75 5,000 00 35 83 6,000 00 203 00 25,122 23 787 16 5,134 00 154 02 3,259 67 82 03 5,000 00 1 111 67 4,936 67 1 104 49 5,000 00 1 105 00 1,200 00 23 60 229 38 1 4 52 2.500 00 1 43 75 3,000 00 r 1 j 49 00 1 10,018 33 1 i 59,981 67 \ ; 1,663 31 47,614 07 1 2,625 00 J 19,840 98 1 99 20 504 66 1 25,966 92 12,279 48 2,128 88 .3,046 37 i 13,523 73 108,950 31 $776,172 62 $31,072 15 1 1 Int. to July 1, 18.'; $5,296 31 1 316 90 659 17 ! 28 24 3,045 00 1 112 16 6,000 00 , 218 00 1,378 14 1 47 08 2,500 00 78 75 1,500 00 46 75 5,325 00 162 41 2,500 00 1 75 42 2,809 00 84 74 1 2,810 00 ! 84 30 5,000 00 1 147 50 7,500 00 216 25 3,610 83 102 31 340 95 9 32 5,000 00 122 50 1,000 00 17 83 1,300 00 22 10 1,500 00 23 00 2,400 00 36 40 100 00 1 50 600 00 8 70 2,000 00 2tj 33 1,010 50 7 41 $65,184 90 $1,996 90 1852. Oct. 31, “ 31, “ 31, “ 31, “ 31, “ 31, “ 31, “ 31, “ 31, “ 31, “ 31, Dec. 8, “ 23, 1852. 1852. July 2, Oct. 14, Nov. 20, “ 23, Dec. 6, “ 21 , “ 24, “ 28, “ 30, “ 31, 1853. Jan. 1, “ 4 , “ 8 , “ 11 , “ 17, Feb. 4, Mar. 14, “ 19, “ 29, “ 31, April 1, “ 4 , “ 12 , May 17, By Amount brought forward,. . . By V. C. R. R. Co’s Note given up, due Mar. Jan. 1, 31, Feb. IL u 24, U 25, Mar. 3, “ 10, 16, u 23, Averag< ; date, April 8, June i 1, July 1, “ Cash from Treasurer, May 13, 15, 16, 18, 19, 20 , 21 , 23, 26, 28, 18, 1852, Wm. Parsons’ Note for $5,000, pd. dis. $63.33, nett. Cash from Treasurer, 0 Cash from Sales of Stock, 1 ^ Mar. 30, - “ “ 31, \ Dis. $2,260.93, netting 1 “ “ Apr. 14, 3 “ “ July 28, I Balance brought from Rent Account, Interest collected on Albany Stock, (omitted,) with Interest to date, Steamer Ethan Allen, as cash, their Interest Account transferred to this Company, payment to C. 0. Whitmore, for services “ John Smith, Balance of Interest to debit in Account, “ Account carried forward, By Cash of their Treasurer, ‘‘ “ “ “ Agent at Northfield,. “ “ “ “ Treasurer, Agent at Northfield,. Treasurer, C 18 TABLE 1 . — (Continued.) Dr. Vermont ^ Canada Railroad Company in .Account Current loith 1852. June 30, “ 30, “ 30, “ 30, “ 30, » 30, To Amount brought forward, To Cash paid their Agent at Northfield, average ]\Iay 16, “ Received by J. H. Peck, part sale of E. Allen, “ Amount credited this date, paid on E. Allen, ;• Rent Charge Dec. 1. 1850, ( 1 “ “ “ June 1, 1851, 1 } “ Labor and Materials furnished since July 1, 1851, and not charged in the Book Account, average date say Julv 1, 1852, $160,501 30 2,380 53 5,025 03 561 00 ! 6,974 00 ( 23,724 00 ) 72,880 92 14,479 25 56,122 54 Int. to .Inly 1,1853. $7,873 31 35 70 84 09 4,201 81 4,372 86 “ 30, “ Balance of Interest, “ 30, “ Amount of extra Interest paid for their Account, . . . $342,648 57 $16,484 61 1853. July 1, To Balance due, brought down, $254,682 09 TABLE L — (CoMTiNUEB.) 19 the Vermont Central Railroad Company for Advances. Cr. 1553. By Amount brought forward, $65,184 90 Int. to July 1,1853. $1,995 90 June 23, By Cash of their Treasurer, 7,000 00 9 33 “ 30, “ “ paid on E. Allen, 561 00 09 “ 30, “ “ short, supposed to be in Vt. Central’s cash over, 220 58 04 “ 30, “ Proceeds of Sale of E. AUen, 15,000 00 “ 30, “ Balance of Interest carried to debit in Account,. . . . 14,479 25 “ 30, “ “ “ Account carried down, 254,682 09 $342,648 57 $16,484 61 ' 20 TABLE I. — (Continued.) MEMORANDUM OF CHARGES Against the Vermont and Canada Railroad^ constructed hy the Committee, the items not having been heretofore included in the Account as settled between the two Companies. To Loss on Sale of their Stock, received at par value, $13,885 93 “ “ “ Albany “ “ “ “ 212 84 “ Interest Account on their Ledger, to their debit, charged the Vennont Central Railroad, 12,279 48 “ C. 0. "iMiitniore’s Salary as Chairman of Finance Committee of their Board, paid bv them, but charged to this Companv, 2,128 88 “ John Smith’s Salary’ as President, &c., for Services whilst the work was in an unfinished state, paid by them, but afterwards charged to this Company, . . 3,046 37 “ Loss on Steamer “ Ethan Allen,” bought and paid for by them, and used in transporting Passengers and Freight until the Bridging of Lake Champlain, and then charged at full cost to this Company, who sold her at a loss of . . . 11,527 92 “ Wharfage Bill on Iron omitted to be charged to them when paid by the Vermont Central Raikoad, September 24th, 1850, 98 58 “ Discount paid on Notes received of them in papnent for monies borrowed, and charged to the Vennont Central Railroad Ty them, for their face as cash, although pavable on time, 13,055 84 “ Interest paid on biUs of L'on, said bills being credited to the Vermont Central Railroad for their amount as cash, but on which the Vennont Central Railroad paid Interest for the time during which the Notes, given in settle- ment, were to run, 4,840 72 “ Interest and Exp>enses paid upon the Notes of theirs assumed by the Vermont Central RaUroad, credit for the face of the Notes only having been given, , . 3,743 85 “ Amount paid them as ^ Rent ” from December 1st, 1849, to June 1st, 1851, it being, in fact, Interest to Stockholders on Assessments during the construc- tion ot their Road, and as such properly to be charged to Construction Account bv them 30,698 00 “ Materials, labor, use of engines, with enginemen, firemen, fuel, oil, waste, and cars, not before chai'ged, estimated as per accounts annexed, (pages 21, 22, 23, 24, 25, 26,) now rendered, at 72,880 92 “ Balance of Interest Accoimt on all the transactions between the two Companies, as stated on their books, on which no Interest has before been aUowed, 28,061 27 “ Estimated amount of Interest above Six per Cent,, which this Company paid for Monies raised for the use of the Vennont and Canada Company, the average rate being about Eighteen per cent 56,122 54 $252,583 14 TABLE I. — SCHEDULE A. in SCHEDULE A. The following Items and Amounts are in Vouchers of the Vermont Central files^ charged in Construction of Vermont Central Road^ which should ' he charged to Construction of the Vermont and Canada. Building eight Water Houses, $2,588 53 Two of these Water Houses were built on the Vei-mont and Canada Road, say one-quarter of ^2,588.53, . . $647 13 Water Tanks made in the shop, and not included in above, estimated by Babcock, 124 00 Frame and Clapboards for Colchester Water House, . . . 150 00 Labor and Stock for W. Alburgh Freight House, 1,967 86 For West Alburgh Tenements, over and above the amount paid G. F. Harris on Contract, 491 26 Windows and Freight Bills St. Albans Freight House, 104 38 Sundry Items for Colchester Station, 196 71 Temporary Wood Shed, $25 ; Fencing, Castings, Lime, and Land Damages, $327.29, 352 29 Freight on Materials and Manufactured Stock sent from Station to Station, 702 63 About fifty Frogs, a $45, 2,250 00 Total Amount, $6,986 26 22 TABLE L — SCHEDULE B. S C H E D U I. E B The following Items and Amounts are charged on the Books of the North- field Shop, as furnished hij 3Ir. Cromhie, against the Vermont and Canada Railroad Co. 1S52. Ang, 16, “ 31, “ 31, “ 31, Dec. 31, 31, 31, 1852. Nov. 29, Dec. 16, 1852. Oct. 4, Vekmoxt a>T) Canada R. R. Co. To Jas. ]\Iason & Brothers, Dr . To Building Passenger Station, St. Albans, “ Extra ibi Slate instead of Shingles, “ Building Engine House as per agi’eement, “ three loads Stone, and lengthening out Culverts, .'. . “ ten bushels i\Iortar, and work on Turn Table, “ Furnishing and laying 91 J perches Stone Tank House, “ Cleaning old Bricks, and Bricking in Tank House, and i\iortar, “ Furnishing 1,339 Bricks for same, “ Lading 3,840 Bricks in pits, and furnishing ^lortar, “ Furnishing and laying 3,600 Bricks in Abutments, “ ten days laying Stone around Turn Table, “ Bricking OMce in Freight House, as per agi-eement, [Approved.] Vermont and Canada R. R. Co. To Herrick &: Bliss, Dr . To i\Iaking addition to "Water House and Wood Shed, 12 feet, and finishing same and painting as per agreement, “ 67 feet Wood Shed, and finishing old Shed, includ- ing painting and Crib for wood, “ 125 feet Wood Shed, a $2.50, “ Foundation for do., “ 2,399 feet Lumber for Cattle Passes, “ 23 davs’ work on “ “ “ Nails,'. .. .• “ 2^ days’ lengthening Platform, Passenger Station,. . [Approved.] Vermont and Canada R. R. Co. To Nashea Lock Co. Dr . To Bill Locks and Knobs, “ “ Knobs, [Approved.] Verzuont and Canada R. R. Co. To W. C. Smith, Dr. To 1 Box Stove for Georgia Station, “ 16 Joints Pipe, $2.67; 1 Elbow 25 c; 11 I’c 97 c. “ 1 Box Stove for Colchester, “ 1 “ “ “ Rouse’s Point, “ 1 Settee and 6 Chairs for Colchester, , “ 7 Frogs, Campbell, [A.pproved, Nov. 23.] lC-16 Zinc, $5,760 i 00 360 00 1,950 00 ! 8 75 1 5 00 ! 137 63 1 45 1 SO 1 6 02 ! 11 52 1 25 20 1 17 50 1 3 00 $186 09 242 04 312 50 30 00 21 59 34 50 1 00 3 75 $39 00 8 00 $6 00 I 3 89 I 6 00 5 00 8 00 i 315 j 00 $8,380 42 $831 47 $47 00 $S4S TABLE I.— SCHEDULE B. — (Continued.) 23 Amounts charged on the Books of the JYorthfeld Shop, Sfc. Vermont and Canada R. R. Co. h 1 1 To E. N. Spaulding, Dr. 1852. Nov. 22, To 2,316 feet Spruce Lumber, a $9, $20 84 $20 84 [Approved, Nov. 22.] 1 Vermont and Canada R. R. Co. 1 To E. Randall, Dr. 1852. Nov. 2. To Building Passenger and Freight Stations at Georgia, as per Contract, $700 00 “ 52 42-100 vards of Stone Masonrv, a $2.25, 117 94 “ Building Tenement in Station extra, 250 00 “ Building Wood Shed, 100 by 28 feet, at Colchester, as per Contract, 250 00 “ 20 Tamarack Posts set for foundation, 20 00 1 $1,337 94 [Approved.] ■ - Vermont and Canada R. R. Co. To W. C. Smith, Dr. 1852. 1 Dec. 15, To 2 Box Stoves for Engine House, 1,372 a 4, , $54 88 “ 182| lbs. A. I. Pipe, a 7^ cents, 13 69 “ 2 Long Bolts, $1 ; 2 Elbows, 50 c. ; 1 Joint Pipe, 17 c. 1 69 “ Putting up Pipe, 1 00 “ 2 five-inch Elbows, 50 c.; Avue and putting up Pipe, $1.06, 1 56 “ 16, » 585 lbs. 1-^ inch Lon for Depot, 4 c. ; welding and work, $6, 29 40 “ 16, “ 28^ lbs. R. I. Pipe at Depot, 20 c. ; 3 Stoppers, Is. . . 6 25 “ 13]^ lbs. Zinc, 10 c. ; work at Depot, 80 c 2 13 “ 18, “ 68 10-16 lbs. R. 1. Pipe for Depot, 20 c. ; 3 Collars, I 51 c.; 7 1-8 Zinc, 14 95 “ Work at Depot, 1 50 “ 20, “ 1 Parlor Stove for Depot, $8.50; 2 Drums, $5.29,. . . 29 66 “ 22, “ 1 No. 2 Box Stove for Depot, $4.38 ; 8 Joints Pipe, $1.33, 5 71 j “ 22 “ 1 Elbow, 25 c. ; work on above, 62 c 0 87 “ 2.3’, “ 2 Drums, 534 lbs. 4 c 21 36 “ 25, ! “ 1 Frog at St. Albans, 45 00 “ 29, “ 38 lbs. R. I. Pipe for Depot, 20 c. ; Avork at Depot, 8 20 “ 29, “ 1 Frog at Colchester, 45 00 “ 31, “ 1,294 lbs. Round and Square Lon in SAvitches, $51 76 “ 31, “ 60^ lbs. Swedes Iron, 3 33 “ 31, “ Work on same, 29 48 84 57 $367 34 Credit : By 208 lbs. old Lead, $6 24 ‘‘ 184 lbs. Waste, 1 29 $7 53 [Approved.] Vermont and Canada R. R. Co. 1 To W. C. Smith, Dr. 1853. Jan. 1, To 1 Bolt at Depot, 25 c.; 13 1.3-16 Zinc, $1.38, $1 63 “ 6 Bolts, 81^ lbs. a 9 c. $7.34; 12 Washers, 59, 236, 9 70 “ 4, “ 1 No. 6 Box Stove for W. Alburgh, per Barrett, 9 00 “ r. “ 1 Large “ “ “ “ 686 lbs. 4 c 27 44 Amount carried forward, $4^7 77 21 TABLE L — SCHEDULE B. — (Continued.) Amount charged on the Books of the JVorthfeld Shop, 1 Amount brought forward, $47 77 I To 1 Ash Pail, 75 c.; Shovel and Tongs, 84 c $1 59 , 1 “6 Chairs, S3 ; 1 MiiTor, SI. 50, for Alburgh, 4 50 , ! “2 Lamps, SI. 25; 6 Chairs, S6: Wash Stand, S2.50, 9 75 , ' “1 Sofa, S16; Dressmg Table, S2.50; Muror, $2.25, 20 75 , 1 “26 lbs. E. I. Pipe, 20 c. $2.50; 8^ Zinc, 10 c. 85 c. 6 05 , ; “ 3J lbs. A. I. Pipe, 35 c. ; putting up same, 30 c 0 65 , i “ 43 6-16 lbs. E. I. Pipe, 20 c. ; 13^ Zinc, 10 c 10 41 i “ Work on same, $1.25 ; putting up, 50 c 1 75 1 “ IJ lbs. E. I. Pipe, 30 c. ; Stove Pipe Stop, 17 c 0 47 i “ 131 feet Pine Quoin, a Sl8, 2 35 j j “ Furnishing 3 Xuts and 1 Bolt, 1 00 1 1 [Approved.] — j Vermont and Canada E. E. Co. [ 7b J. & J. H. Peck & Co. Dr. 1 I To 13 Bars 4 inch square Iron, ) “7 “ “ “ “ J $38 75 1 Ordered by J. D. CampbeU, Esn. for Missisco Bay j Bridge. [Approyed.] 1 V ERMONT AND CANADA E. E. Co. 1 To T. C. Emery, Dr. , To 6 Office Chairs, $1.50, ) i “ 2 “ Stools, j i £nt’d OD Shop Stock. ' [Approved.] Vermont and Canada E. E. Co. To John Sherburn, Dr. To Cash paid for John Sullivan while at Missisco and West Alburgh, to work for the Company, Eot’d on Shop Stock. [Approved.] Vermont and Canada E. E. Co. To E. Eandall, Dr. To Building Wood Shed at Essex, 250 bv 28 feet $625 00 “ Foundation for the same “ ’ 43 00 “ Water Station, as per asreement, ... . 190 00 ■ “ 23 vards Stone Foundation,. . . . 51 75 “ Building V ater Closets, Platform to Shed, Eoofino- Oil Spanway between Slie-d and V ater Station, and Eoof for wood, 384 da vs, a $1.80.. . 68 80 i “ 4,348 feet of Lumber, 37 10 ■ “ 6,000 Shindes 9 00 “ 150 lbs. Nails, 6 00 “ I earn 1 50 “ 5,650 feet of Plank at Colchester. 36 85 i “ 100 lbs. Spikes i 4 00 j “ 12 days’ work, 1 19 44 ' “ Team, 1 3 00 1 “ Platforai at Georgia I 3 00 ; ! “ Building Passenger and Freight Stations at Albrn'o-h j Springs, ° 1 730 00 i J “ 65 vards Stone Foundation, a $2.25, 146 25 i ! Amount carried forward, . . | $1,974 69 1 1852. ;ov. le “ 29 : 1853. 1853. Jan. 15, 1853. Jan. 13, $107 04 TABLE 1. — SCHEDULE B. — (Continued.) 25 Amount charged on the Books of the JYorthfeld Shop, ^'c. 1853. Jan. 13, 1853. Feb. 5, 1853. Feb. 9, “ 11 , 1853. Jan. 12, Feb. 17, 1852. Mar. 1, 1853. Jan. 1, Amount brought forward,. To 600 Bricks in pens, “ Freight Station at West Alburgb, “ Paid Freight, “ “ Fare, [Approved.] Vermont and Canada R. R. Co. To Henry Stevens, Dr. To Furnishing Materials and building two Wood Sheds, 100 by 24 feet each, at Georgia, as per agreement, “ Excavating for Sheds, agreed, [Approved.] Vermont and Canada R. R. Co. To W. C. Smith, Dr. To 3 Settees, 1 at St. Albans and 2 at Alburgh, $4.50, . . “ 1 Table and 2 Rocking Chairs, 9 25 “ 1 pair Shears, 38 c.; 1 Table Spread, $1.13, 1 51 “ 3 yards Towelling, 75 “ 1 Solar Lamp, $3.25; 1 Ewer and Basin, ... 4 25 “ 1 Pitcher, 50 c. ; 1 Tumbler, 8 c. at I. Allen, 50 c. “ 11 feet Pine, 22 c. ; Iron and work, 7 ; Truss for Herrick, [Approved, March 15, 1853.] Vermont and Canada R. R. Co. To Hiram Colony, Dr. To Painting 2 Desks, “ “ 4 Wood Boxes, [Approved, March 15, 1853.] Vermont and Canada, R. R. Co. To Vermont Central R. R. Co. Dr. To Construction of Depots from March 1, 1852, to say March 15, 1853, “ Construction of Road same time, “ “ “ Bridges “ “ “ “ Wood and Water House, Missisco, Estimate of value of Materials and Labor furnishd during eight months, from July 1, 1851, by an average of $4,574.40 per month, $1,974 69 6 00 340 00 7 72 4 15 $200 00 5 00 $13 50 16 34 5 54 Ent’d on Shop Stock. $2,332 56 $205 00 $35 38 $1,153 90 473 58 224 35 450 00 This estimate is made upon an average, taking as a basis the admitted expenditures for similar items j during the year previous, and the year succeeding. ' This course the Committee were obliged to adopt, as all the records relating to this period were destroyed by the first fire at Northfield. Estimate for use of Engines and Cars since July 1, 1851, for which, with the Enginemen, Firemen, Fuel, Oil and Waste, no credit has been given by the Vermont and Canada R. R. Company, viz: $2,301 83 $36,595 20 TABLE L — SCHEDULE B. — (Continued.) 1:0 Materials and Labor from July, 1851 , to March 1 , 1851 . 2 Engines, with Ensrinemen, Firemen, Fuel, Oil and Waste, from luly 1, 1851, to Dec. 1, 1851, 6 1 f\T 1 nfi . S6,240 00 6,760 00 1 Engine, with same, from Dec. 1, 1851, to Jan. 1, 1853, ^ 13 inontlis or 3*^^ ^ . 44 Gravel Cars for the first 6 months, and 26 Gravel Cars for the last 13 months, the Committee have made i no charge for. i i : 1 The Committee are satisfied that much work was in fact done by the Y ermont Central for the Vermont and Canada, and a great quantiV^ of materials furnished, for which no charge is made in the above. It is well known, however, that the Central has continued, to this day, to carr^’ on the work of construction for the Vermont and Canada; and that a considerable proportion of the expense is so charged to the Vermont Central on their books, to their own construction account, that it cannot be separated from their own legitimate expenditures. Xo charge is here specified for the services of the officers of the Central, whilst engaged in behalf of the Canada, altlibugh an apportionment of the salaries pffid them should undoubtedly be made. It having been understood, at least in one case, (]Mr. Paine’s,) that his salary of So, 000 per annum was to compensate him for his services as Constructing Agent of the V ermont and Canada ; notwithstanding which, the Canada has never to the knowledge of the Committee paid anj-thing towards them. Xor is anything charged here for the rent paid to the V ermont and Canada upon notes given for Stock Subscriptions, on which Stock interest was paid to the holder. It will of course be understood that these charges are omitted simply because no approximate estimate can be made upon which to base them. TABLE II. STATEMENT CONCERNING THE “STOCK ACCOUNT/’ When the examination was commenced, the “ Stock Balance Sheet ” showed an apparent over issue of 2192 Shares. It appeared that the latest date when a corre.-t “ Balance ” was obtained, was July 1st, 1850. This apparent over issue proved to be a series of errors, except in the case referred to below, in regard to five Sliares which are all that were really over issued. The following are the errors whieh resulted in the discrepancy above stated : — One Stockholder received a Certificate of 10 Shares of Stock, while the. “ Stock Account” did not represent the Shares as fully paid for; owing to a dividi-nd, due this Stockholder and ordered to be applied to the balance due on the Shares, not having been so applied upon the Books of the Company, but still remaining there ds a dividend due this party. Another Stockholder received a Certificate of 5 Shares, while the ‘‘ Stock Account ” represented him as still owing $50 on them ; but the press copy of the letter enclosing him his Certificate, proves the money to have been sent to the ofilce* although it is not found credited upon the Books of the Company. A broker was credited with 100 Shares transferred by him to another party. Instead of being debited, with this transfer. The footing of one Stockholder’s Shares was too large by 10 Shares. The balance of another’s Shares, was transferred to the present Stock Ledger (Voin the old Ledger, as 2 Shares instead of 10 Shares ; and one other was tnmsferred as 4 Shares Instead of 24 Shares. The Vermont Central R. R. Company was twice credited with 1990 Shares; tin,', amount standing to its credit in an account called “ Forfeited Stock,” and the same. Shares standing to its credit in an account entitled “ The Treasurer in Trust.” A broker’s account was through mistake overdrawn 5 Shares, the clerk making that amount of error in stating to him the balance remaining to his credit, which he transferred to another party. This over issue or over draft was made good by the broker upon communicating the facts in the case to him. All the above errors having been rectified, “ The Balance Sheet of Stock Account” now stands correct. During the examination, an error was discovered not afiecting the “ Balance Slieet,” occasioned by placing 150 Shares to credit “ J. Quincy, Jr., ’ instead of “ J. (Quincy, Jr., Treasurer in Trust” (for the Company;) and Mr. C)ulncy having disposed of thi.s Stock, supposing it to be his own, it now forms part of the Comjiaiiy’s claim against his estate. {Appendix,, Table V.) 28 TABLE n. — (Continued.) Stock Account of Vermont Central Railroad Company, July 1 , 1853 . The Capital Stock is represented by 100,000 Shares, at an average par value of $50 per Share, held in the following manner : — 1st Issue, 20,000 Shares, a $100 per Share, representing, 2d “ 25,652 “ a $50 “ “ “ 3d “ 4,348 “ a $50 “ “ “ 4th ■“ 50,000 “ a $30 “ “ “ Of these, there remain in the possession of the Coiporation 585 Shares, on wliich assessments have not been fully paid, as follows : — 1st Issue, 234 Shares; paid in $3,744.50; still due, 2d “ 85 “ “ “ 1,185.00; “ “ 3d “ 206 “ “ “ 3,308.00; “ “ 4th “ 60 “ “ “ 265.00; “ “ $19,655 50 3,065 00 6,992 00 1,535 00 $2,000,000 00 1,282,600 00 217,400 00 1,500,000 00 $5,000,000 00 $8,502.50 The Company also holds 1846 Shares Forfeited Stock, being unpaid lor by S. F. Belknap. The examination of the Certificate Books of Stock, resulted as follows : — $31,247 50 For 79,141 Shares, Certificates have been given out. “ 20,274 “ “ are due to the owners. “ 585 “ (unpaid as above) no Certificates due yet. 100,000 Shares. In addition to the above, Certificates whicb should be on file, as cancelled, are missing, to the amount of 1472 Shares. Some of these Certificates, according to the entries upon the Stock Ledger, were returned to the office, but cannot now be found. The balance do not appear ever to have been returned. They were probably never forwarded to the office in Boston, from the transfer office in New York, although, it seems by the entries, they were received at that office, for return to the Boston office TABLE III. BONDS DUE IN 1852. Number. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Remarks. A Burnt, 5000 B Sold, 5000 $4850 00 Cash, G. H. Kuhn, $150 00 C 5000 4850 00 B. Burgess’ Estate, . . . 150 00 D U 5000 4850 00 U Wm. Beals, 150 00 E u 5000 4850 00 ii Life Office, 150 00 F Filed, 5000 G “ 5000 H U 5000 I Sold, 5000 4216 50 Stock, S. F. Belknap, 783 50 J U 5000 4216 50 U 783 50 K u 5000 4216 50 u 11 783 50 L a 5000 0000 00 “ 5000 00 M Burnt, 5000 N Sold 5000 4216 50 Stock, S. F. Belknap, 783 50 0 Burnt, .... 5000 • P 5000 0 Sold, 5000 4216 50 Stock, S. F. Belknap, 783 50 R U 5000 4216 50 783 50 S u 5000 4216 50 “ 783 50 T (C 5000 4216 50 “ 783 50 U a 5000 4216 50 U (C 783 50 V a 5000 4216 50 u a 783 50 w 5000 0000 00 5000 00 X u 5000 4216 50 783 50 Y u 5000 4216 50 u u 783 50 Z u 5000 4216 50 u 783 50 AA Burnt, 5000 BB u 5000 cc u 5000 DD u 5000 EE (( 5000 FF ii 5000 GG u 5000 HH u 5000 II u 5000 KK (( 5000 LL 5000 MM 5000 NN Sold, 5000 4216 50 Stock, S. F. Belknap, 783 50 00 n 5000 4216 50 “ “ 783 50 PP u 5000 4216 50 (( u 783 50 QQ a 5000 4216 50 u a 783 50 KR ii 5000 4216 50 u 783 50 ss ii 5000 4216 50 “ “ 783 50 TT Burnt, 5000 vv 5000 4216 50 Stock, S. F. Belknap, 783 50 ww 5000 4216 50 a 783 50 Altered fill UU XX (C 5000 4216 50 “ U 783 50 YY u 5000 4216 50 “ u 783 50 ZZ Collateral, . 5000 WW Burnt, 5000 AAA “ 5000 BBB Collateral, . 5000 CCC Burnt, 5000 DDU 5000 4216 50 Stock, S. F. Belknnp, 783 50 EEE OUiU, u 5000 4216 50 u 783 50 FFF u 5000 4216 50 “ Li 783 50 GGG u 5000 , 4216 50 u 783 50 Carried for ward, ^$133,245 50 $31,854 50 30 TABLE 111. — (Continued.) Bonds due in 1852 . Number. i Disposition. Desig- nation. Proceeds. Mode of Paym't. By whom Negociated. Amount of Discount. Remarks. 1 Brouo'lit for $133,245 50 $31,854 50 HHH , Burnt, .... 1 5000 111 “ 5000 KKK “ 5000 LLL u 5000 mni “ 5000 MNN 5000 GOO Sold, 5000 4216 50 S. F. Belkmip, $783 50 PPP 5000 4216 50 783 50 QQQ Burnt, . . . . 5000 KRR “ 5000 sss “ 5000 TTT “ 5000 UUU “ 5000 VVV Sold, 5000 4216 50 S- F- Pp.lknnp, . 783 50 WWW Burnt, . . . , 5000 XXX “ 5000 YYY 5000 ZZZ ‘‘ 5000 1 Sold, 1000 970 00 Cash, F.dw’d (^odmuTi 30 00 2 1000 970 00 30 00 3 U 1000 970 00 U J. W. Mulliken, 30 00 4 “ 1000 970 00 “ Thomas Reed, 30 00 5 “ 1000 970 00 “ 4i 30 00 6 “ 1000 970 00 “ Jas. R. Langdon, 30 00 7 1000 970 00 “ 30 00 8 1000 970 00 “ Geo. Callender, 30 00 9 “ 1000 970 00 E. F. Adams, 30 00 10 ‘‘ 1 1000 970 00 u S. H. Walley & H. Flail, 30 00 11 “ 1000 970 00 “ 30 00 12 “ i 1000 970 00 “ Wm. Beals, 30 00 13 1000 970 00 “ 30 00 14 1000 970 00 ‘‘ Bowen Burkman, 30 00 15 “ I 1000 970 00 E. A. Raymond, 30 00 16 1000 970 00 u Wm. Sabin, 30 00 17 “ i 1000 970 00 u L P. Skinner, 30 00 18 “ 1 1000 970 00 “ A. Thompson, 30 00 19 i 1000 970 00 S. 0. Mead, 30 00 20 “ 1 1000 970 00 30 00 21 “ 1000 970 00 30 00 22 U I 1000 970 00 U it 30 00 23 “ i 1000 970 00 U it 30 00 24 “ i 1000 970 00 Horatio Adams, 30 00 25 1000 970 00 a a 30 00 26 “ 1 1000 970 00 ti DanT Baldwin, 30 00 27 n ; 1000 970 00 u Caleb Reed, 30 00 “ 1 1000 970 00 “ it 30 00 29 . 1 1000 970 00 a 30 00 30 U 1 1000 970 00 “ it 30 00 31 “ i 1000 970 00 Amos Farnsworth,. . . . 30 00 32 “ ! 1000 970 00 “ a .30 00 33 i 1000 970 00 “ a 30 00 34 1000 970 00 30 00 35 Piled, 1000 36 1 Sold, 1 1000 970 00 Cash, R. Hunt, 30 00 37 “ 1000 970 00 44 30 00 38 “ 1000 970 00 Royal Hatch, 30 00 39 1000 970 00 das. R. Langdon, 30 00 40 ‘‘ 1000 970 00 “ U 30 00 41 1 1000 970 00 44 30 00 42 i (C 1 1000 970 00 u B. Burgess’ Estate, . . . 30 00 43 I 1000 970 00 “ S. Willard, 30 00 44 n 1 1000 970 00 “ E. A. E. Codman, .... 30 00 45 1 1 : 1000 970 00 “ P. S. Institution, 30 00 1 (Jarried for ward. $188,575 00| TABLE III. — (Continued) 31 Bonds due in 1852 . Number. Disposition. Desig- nation. Proceeds. I Form of ’aym't. By whom Negociated. Amount of Discount. Brought for yard, $188,575 00 . 5 5i35,525 00 46 50ld," 1000 '970 00 ( 2Iash, ] d. S. Institution, 30 00 47 u 1000 970 00 lohn Clark, 30 00 48 “ 1000 970 00 (( ( Sampson Reed, 30 00 49 “ i ' 1000 970 00 u 30 00 50 u 1000 970 00 li 30 00 51 1000 970 00 11 30 00 52 “ 1000 970 00 “ 30 00 53 (C 1000 970 00 u Allen Wardner, 30 00 54 u 1000 970 00 Caleb Reed, 30 00 55 » 1000 970 00 u “ 20 00 56 u 1000 970 00 “ Geo. Langdon, 30 00 57 » 1000 970 00 a Zenas Wood, 30 00 58 1000 970 00 ti Simeoti Willard, 30 00 59 u 1000 970 00 “ S. F. Belknap, 30 00 60 u 1000 970 00 a U 30 00 61 1000 970 00 U 30 00 62 u 1000 970 00 u u 30 00 63 u 1000 970 00 a 80 00 64 u 1000 970 00 u 30 00 65 1000 970 00 “ 30 00 66 1000 970 00 “ 30 00 67 “ 1000 970 00 li 30 00 68 1000 970 00 “ 30 00 69 1000 970 00 u 30 00 70 1000 970 00 “ u 30 00 71 1000 970 00 li u 30 00 72 ‘i 1000 970 00 li ii 30 00 73 (( 1000 970 00 ii 30 00 74 1000 970 00 ii 30 00 75 u 1000 970 00 ii u 30 00 76 1000 970 00 30 00 77 1000 970 00 H. A. Wilcox, 80 00 78 a 1000 970 00 li S. F. Belknap, 30 00 79 u 1000 970 00 li 30 00 80 U 1000 970 00 a “ 30 00 81 a 1000 970 00 ii ii 30 00 82 a 1000 970 00 “ “ 80 00 83 u 1000 970 00 li 30 00 84 u 1000 970 00 “ 30 00 85 1000 970 00 “ “ 30 00 86 it 1000 970 00 a 11 20 00 87 u 1000 970 00 ii 11 30 00 88 u 1000 970 00 li R. G. Shaw, 30 00 89 u 1000 970 00 S. F. Belknap, 30 00 90 Destroyed, . 1000 91 Snlfl 1000 1 970 00 1 “ S. Belknap, 30 00 92 u 1000 1 977 00 1 “ u 30 00 93 1000 1 970 OC 1 “ ii 30 00 94 1000 1 970 00 1 “ “ 30 00 95 lOOC f 870 OC 1 “ li 30 00 96 , “ lOOC • 970 OC 1 “ 30 00 97 (C lOOC 1 970 OC » “ 30 00' 98 ! “ lOoC » 970 OC ) “ 30 OOj 9S 1 “ lOOC ) 970 OC ) “ li 30 00 IOC 1 “ loot ) 970 OC ) “ 30 00! 101 u lOOC ) 970 OC ) “ 30 00 102 100( ) 970 OC ) “ “ 80 00 10£ ! “ 100( ) 970 0( ) “ “ 30 00 10^ t “ 100( ) 970 0( 3 “ “ 30 00 IOe ) “ 100( ) 970 0( 3 “ “ 30 00 10( 100( ) 970 0( 3 “ “ 30 00 ; io\ r “ 100( 3 970 0( 3 “ 30 00 ' 10{ ? “ 100( 3 970 0( 3 “ “ 30 00 i io< 3 “ 100( 3 970 0( 3 “ “ 30 00 L Carried fo r,ward, $249,685 01 Remarks. 32 TABLE III. — (Continued.) Bonds due in 1852 . Number Disposition. Desig nation Proceeds. Mode of Paym’l By whom t. Negociated. Amount. of Discount. Remarks. 1 Brought fo r ward. $249,685 00 $37,415 0( [) IK ) Sold, $100 1 970 00 Cash, S. F. Belknap, 30 0( [) 11 100 1 970 00 a 30 01 3 111 “ 100 970 00 u “ 30 0( 3 IK 100 970 00 “ 80 0( 3 IK 100 970 00 u J. J. Dixwell, 30 0( 3 Ilf » 100( 970 00 “ a 30 0( 3 lie 100( 970 00 u “ 30 0( 3 117 U 100( 970 00 S. F. Belknap, 30 0( ) 11^ 100( 970 00 iC 30 0( ) 11£ “ 100( 970 00 “ “ 30 0( ) 12C “ 100( 970 00 U a 30 0( ) 121 lOOC 970 00 “ “ 30 OC ) 122 u lOOC 970 00 ii “ 30 OC ) 123 lOOC 970 00 “ Parsons & Dixwell,. . . 30 OC 1 124 1000 970 00 “ S. F. Belknap, 30 OO ( 12o i “ 1000 970 00 “ ii ^ 30 OO 1 126 1000 970 00 “ 30 00 1 127 1000 970 00 “ ii 30 00 1 128 1000 ' 970 00 ii ii 30 00 129 1000 I 970 00 ii 30 00 130 1000 843 30 Stock, ii 156 70 131 u 1000 970 00 1 Cash, JS. M. Felton, 30 00 132 “ 1000 843 30 Stock, S. F. Belknap, 156 70 133 “ 1000 843 30 “ 156 70 134 1000 843 30 ii U 156 70 135 “ 1000 843 30 “ ii 156 70 136 1000 843 30 ii ii 156 70 137 Burnt, 1000 138 Isold, 1000 843 30 1 Stock. S. F. Belknap, . . . 156 70 139 “ 1000, i 970 00 Cash, 30 00 140 1000 970 00: “ a 30 00 141 “ 1000 970 00 a 30 00 142 u 1000 970 00 “ 30 00 143 ll 1000 970 00 “ a 30 00 144 “ 1000 970 00 a “ 30 00 145 1000 843 30 Stock, 156 70 146 “ 1000 843 30 ii “ 156 70 147 “ 1000 970 00 Cash, 30 00 148 1000 970 001 “ a 30 00 149 1000 970 00 a 30 00 150 “ 1000 970 00 “ a 30 00 151 “ 1000 970 00 “ ii 30 00 152 u 1000 970 00| a a 30 00 153! 1000 970 00| “ » 30 00 154 1000 970 00 “ a 30 00 155 “ 1000 970 00 I “ 30 00 156 il 1000 970 00 “ 30 00 157 “ 1000 970 00 1 a 30 00 158 u 1000 970 OOi “ 30 00 159 Filed, 1000 160 1 Sold, 1000 970 00 Cash, S. F. Pohhins 30 00 161 (1 1000 843 30'Stock,'l S. F. Belknap, 156 70 162 “ 1000 843 30 ii 156 70 163 “ 1000 843 30 a 156 70 164 “ 1000 843 30 “ a 156 70 1651 1000 000 00 1000 00 166 li 1000 843 30 a “ 156 70 167 “ 1000 843 30 “ a 156 70 168 “ 1000 843 30 » a 156 70 169 “ 1000 843 30 a 156 70 170| “ 1000 843 30 “ a 155 70 171 “ 1000 833 30 “ a 156 70 1721 “ 1000 843 30 a 156 70 173 1000 843 30 “ “ 156 70 1 Carried forp vard. $306,194 30 ?39,615 00 TABLE III. — (Continued.) 8d Bonds due in 1852 . Number. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Remarks. 174 Brought for Sold, ward, $1000 1000 $306,194 30 843 30 Stock, S. F. Belknap, $39,615 00 156 70 175 970 00 Cash, Parsons «&; Dixwell,. . . 30 00 176 “ 1000 970 00 “ Li 30 00 177 1000 970 00 U S. F. Belknap, 30 00 178 “ 1000 970 00 u LL 30 00 179 1000 970 00 ii 30 00 180 (( 1000 970 00 “ E. B. Foster, 30 00 181 u 1000 970 00 “ ii 30 00 182 “ 1000 970 00 u a 30 00 183 u 1000 970 00 u 30 00 184 ii 1000 970 00 u a 30 00 185 u 1000 843 30 stock. S. F. Belknap, 156 70 186 (i 1000 1000 00 Cash, 0. S. Chapman, 00 ooi 187 (C 1000 1000 00 “ a 00 00 188 iL 1000 970 00 “ S. F. Belknap, 30 00 189 U 1000 970 00 U 30 00 190 u 1000 970 00 Li 30 00 191 u 1000 843 30 Stock, Li 156 70 192 1000 843 30 “ LL 156 70 193 1000 843 30 U ii 156 70 194 “ 1000 843 30 “ ii 156 70 195 1000 1000 00 Cash, J. J. Solev, 00 00 196 “ 1000 843 30 Stock, S. F. Belknap, • 156 70 197 1000 970 00 Cash, S. E. Robbins, 30 00 198 u 1000 970 00 a 30 00 199 (( 1000 970 00 U 30 00 200 (( 1000 843 30 Stock, S. F. Belknap, 156 70 201 “ 1000 970 00 Cash, S. E. Robbins, 30 00 202 u 1000 970 00 a U 30 00 203 u 1000 970 00 U 30 00 204 “ 1000 970 00 U u 30 00 205 (( 1000 843 30 Stock, S. F. Belknap, 156 70 206 u 1000 843 30 a 156 70 207 “ 1000 343 30 u “ 156 70 208 u 1000 970 00 Cash, S. E. Robbins, 30 00 209 “ 1000 970 00 ii 30 00 210 “ 1000 843 30 Stock, S. F. Belknap, 156 70 211 1000 843 30 u 156 70 212 1000 843 30 u 156 70 213 u 1000 843 30 a 156 70 214 “ 1000 970 00 Cash, Davenport & Bridges, . 30 00 215 u 1000 970 00 “ 30 00 216 ll 1000 970 00 “ S. E. Robbins, 30 00 217 u 1000 970 00 it “ 30 00 218 “ 1000 970 00 ii “ 30 00 219 it 1000 970 00 “ 30 00 220 1000 970 00 Li “ 30 00 221 “ 1000 970 00 a “ 30 00 222 “ 1000 970 00 CL 30 00 223 u 1000 970 00 u ii 30 00 224 1000 843 30 stock. S. F. Belknap, 156 70 225 “ 1000 843 30 u “ 156 70 226 a 1000 843 30 a 156 70 227 u 1000 843 30 u “ 156 70 228 a 1000 843 30 “ 156 70 229 u 1000 843 30 a 156 70 230 1000 843 30 cc “ 156 70 231 1000 843 30 u “ 156 70 232 1000 843 30 ii 156 70 233 1000 843 30 Li “ 156 70 234 1000 843 30 “ 156 70 235 1000 843 30 “ 156 70 236 u 1000 843 30 ii “ 156 70 237 u 1000 000 00 a “ 1000 00 Carried for E ward. $363,846 70 ' $45,962 60 1 iDer. 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 801 TABLE III. — (CoNTixuED.) Bonds due in 1852 . Desig- nation. Proceeds. Mode of Payjn’t. By whom Negociated. Amount of Discount. 1 $363,846 70 843 30 $45,962 60 156 70 $1000 Stock, S. F. Belkuap, * . 1000 843 30 1 U 156 70 1000 843 30 156 70 1000 843 30 ^ it 156 70 1000 843 30 1 u 1 it 156 70 1000 843 30 1 ii 156 70 1000 843 30 1 “ u 156 70 1000 843 30 1 “ 156 70 1000 843 30 1 u u 156 70 1000 843 30 \ “ 156 70 1000 843 30 u 156 70 1000 843 30| U « 156 70 1000 843 30| il 156 70 1000 843 30| “ u 156 70 1000 843 301 u u 156 70 1000 843 30 u ii 156 70 1000 843 30 i ll 156 70 1000 843 30 ' it 156 70 1000 843 30 u 156 70 1000 843 30 1 “ 156 70 1000 843 30i ii 156 70 1000 843 30! “ 156 70 1000 843 30i ii 156 70 1000 843 30! u ii 156 70 1000 843 30; u 156 70 1000 843 30| “ ii 156 70 1000 843 30' u 156 70 1000 843 30. u ii 156 70 1000 843 30 ii 156 70 1000 843 30i 156 70 1000 1000 843 30. 843 3o! u 156 70 1000 u S. F. Belknap, 156 70 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 843 30 (( i 1 156 70 ward, $391,685 60! $51,133 70 Remarks. mer, 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 36‘4 365 TABLE III. — (Continued.) 35 Bonds due in 1852 . ward, $1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 Carried for ward, Desig- nation. Proceeds. $391,685 60 843 30 843 30 843 30 843 30 843 30 843 30 843 30 950 00 843 30 843 30 843 30 843 30 843 30 947 50 950 00 950 00 950 00 950 00 1000 00 $408,502 70 Mode of Paym’t. Stock, By whom Negociated. S. F. Belknap, Stock, S. F. Belknap, Cash,. !J. C. Dunn, . . , Stock, S. F. Belknap, Cash, Cash, . J. C. Dunn,. 0. S. Chapman. Amount of Discount. $51,133 70 156 70 156 70 1,000 00 156 70 156 70 156 70 156 70 156 70 50 00 156 70 156 70 156 70 156 70 156 70 52 50 50 00 50 00 50 00 50 00 $54,316 GO Remarks. 36 TABLE III. — (Continued.) Bonds due in 1852. Number. Disposition. Desig- nation. Proceeds. Mode of Payrn't By whom Negociated. Amount of Discount. Bemarks. Brought for ward. $408,502 70 _ 1 $54,316 60 366 Burnt^ $1000 867 Collateral, . 1000 0. S. Chapman. ^ 368 Sold, 1000 1000 00 Cash, 1 .S6p Destroyed, . 1000 370 Burnt, .... 1000 371 U 1000 372 1000 373 1000 374 U 1000 37o “ 1000 1 376 Filed, 1000 1 377 Burnt, 1000 • 1 378 1000 1 1 379 Filed, 1000 j 380 1000 381 Burnt, 1000 i i 382 “ 1000 1 1 383 “ 1000 384 Filed, 1000 385 “ 1000 386 Burnt, 1000 387 (C 1000 388 “ 1000 389 “ 1000 390 n 1000 1 1 391 Filed, 1000 1 I * 392! “ 1000 1 1 393, Bm*nt, .... 1000 394 “ 1000 396 “ 1000 396 Collateral, . 1000 3971 U 1000 398 Burnt, .... 1000 399: Collateral, . 1000 400i Burnt, .... 1000 401 1000 402 Collateral, . 1000 403 1000 404 “ ! 1000 405 1000 406 1000 407 Burnt, 1000 408 Collateral, . 1000 409 Burnt, .... 1000 410 1000 411 “ 1000 412 1000 413 1000 414 1000 1 415 “ 1000 1 416 Collateral, . 1000 417 “ 1000 418 (( 1000 419 “ 1000 420 “ 1000 421 Burnt, .... 1000 422 “ 1000 423 “ 1000 424 1000 425 a 1000 426 u 1000 427 Collateral, . 1000 428 1000 429 Burnt, 1000 Carried for ward. $409,502 70 $54,316 60 iDer. 430 431 432 433 434 435 436 437 438 439 440 441 442 443 444 445 446 447 448 449 450 451 TABLE UL — (Continued.) 37 Bonds due in 1852 . Desig- nation. vard. $1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 $409,502 70 Mode of Paym’t. By whom Negociated. Amount . Discount. $54,316 60 Remarks. Carried for ward, | $409,502 70 $54,316 60 38 TABLE in. — (Continued.) Bonds due in 1852 . Desig- Mode By whom Amount Number. , Disposition. Proceeds. of of , nation. Paym’t. Negociated. Discount. 1 i Brought for ward. ; S409,502 70 *854,316 60, 494 Bumr, . . . . SI 000 495 Collateral, . 1000 1 496 1000 497 1000 498 *1000 499 U 1000 500 “ 1000 i 501 u 1000 I 1 502 Filed, 1000 i 50.3 U 1000 1 504 Burnt, 1000 i 505 “ ' 1000 506 Collateral, . 1000 1 507 ‘‘ 1000 508 1000 i I 509 1000 ; 1 510 a 1000 511 Burnt, 1000 512 1000 513 1000 514 1000 515 Collateral, . 1000 516 1000 1 517 Burnt, .... 1000 1 518 iC 1000 519 u j 1000 ! 1 1 Sold 500 485 00 Cash, 1 Tliomns Feed, 15 00 2 500 435 00 a ' •J. T. Marston, 15 00 3 1 U 1 500 485 00 .Tames E. Langdon, . . . 15 00 1 u 500 485 00 u .J. Spaulding, 15 00 5 u 500 485 00 a C. Child, 15 00 6 ' u 500 485 00 u ' Daniel White, 15 00 7 500 485 00 u H. Jackson, 15 00 8 ' a 500 485 00 u i G. A. Whitnev, 15 00 9 u 500 485 00; u Benj. F. Stevens, 15 00 10 a 500 485 00 u ' Wm. Beals 15 00 11 u 500 485 00 a .J. H. Prentiss, ' 15 00 12 u 500 485 00 u 1 Wm. Beals, .Jr 15 00 13 u 500 485 00 u W. H. Sabin, j 15 00 14 Filed, 500 1 is; Sold, 500 485 00 u i C. TT. Pnrkpr 15 00 16 500 485 00 U j tt 15 00 17 iC 500 485 00 ;; 1 1 15 00 18 ii 500 485 00 “ ! 15 00 19 500 485 OOj “ ' Samuel Abbott & Co. . 15 00 20 500 485 00 u C. S. Kingsburv, 15 00 21' 6i 500 485 00 a 1 Caleb Eeed,. . 15 00 22- i 500 485 00 it tt 15 00 23 Filed, 500 24’ Sold, 500 485 00 tc Samuel Cahot, 15 00 25j U 500 485 00 tt 15 00 261 u 500 485 00 tt 15 00 27 iC 500 485 00 tt li 15 00 28| Filed, * 500 29 Sold, 500 485 00 tt James E. Langdon, . . . 15 00 30 ic 500 485 00 tt 1 15 00 31 500 485 00 tt tt 15 00 32 500 485 00 tt tt 15 00 33 u 500 485 00 tt P. D. AEen, 15 00 34 cc 500 485 00| tt 1 X. F. Frotbingham,. . . 15 00 35 (( 500 485 00 “ 1 (. 15 00 36 500 485 00 tt P. S. Institution, 15 00 u 500 485 OOj E. Xve, Jr 15 00 Carried for. ward, $425,992 7oi $54,826 60 ler. 38! 39' 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 TABLE III. — (Continued.) 39 Disposition. Bonds due in 1852 . Desig- nation. Proceeds. Mode of Paym’t. By whom Ncgociated. Amount. of Discount. $425,992 70 485 00 $54,826 601 15 001 15 00 $500 Cash, •John Doane, 500 485 00 A. Edwards, 500 485 00 Ebenezer Hackett,. . . . 15 00 500 485 00 u William Ashley, 15 00 500 485 00 U Sampson Keed, ■ 15 OOj 500 483 00 15 00 500 485 00 “ 15 oo! 500 485 00 15 00| 500 485 00 U E. I). Briggs,, ........ 15 00 500 485 00 U Lucius Hazeu, 15 00 400 485 00 u W. C. Cristy, Jr 15 00 500 485 00 William Munroe, 15 00 500 485 00 S. 0. Mead, 15 00 500 485 00 Daniel Carpenter, .... 15 00 500 485 00 Warren Goddard, 15 00 500 485 00 u Robert Calder, 15 00 500 485 00 u Caleb Reed, 15 00 500 485 00 u “ 15 00 500 485 00 a N. Ball, S. F. Belknap, 15 00 500 485 00 15 00 500 485 00 u 15 00 500 485 00 u 44 15 00 500 485 00 u 44 15 00 500 485 00 Jacob Forster, 15 00 500 485 00 U 44 15 00 500 485 00 44 15 00 500 485 00 u S. Willard, 15 00 500 485 00 u u 15 00 500 485 00 15 00 500 485 00 u S. F. Belknap, 15 00 500 485 00 u 44 15 00 500 485 00 u 44 15 00 500 485 00 (( 44 15 00 500 485 00 15 00 500 485 Oo 44 15 00 500 500 485 00 u 44 15 00 500 485 00 u 44 15 00 500 485 00 a 44 15 00 500 485 00 Martha Jennison, . . . . 15 00 500 485 00 S- M. Felton, 15 00 500 500 485 00 a J. J. Dixwell, 15 00 500 485 00 u Parsons & Dixwell, . . 15 00 500 485 00 u H. Hill, 15 00 500 485 00 cc a 15 00 500 485 00 u S. E. Robbins, S. F. Belknap, 15 00 500 421 65 Stock, 78 35 500 485 00 u Jacob Forster, 15 00 500 485 00 u 44 15 00 500 485 00 u 44 15 00 500 485 00 u 44 15 00 500 485 00 u 15 00 500 485 00 44 44 15 00 500 485 00 44 15 00 500 485 00 44 44 15 00 500 485 00 44 15 00 500 485 00 15 00 500 485 00 44 44 15 00 500 485 00 44 44 15 00 500 i 485 00 44 44 15 00 500 1 485 00 44 44 15 00 500 1 485 00 Cash, S. F. Belknap, 15 00 500 r ward. 1 485 00 $455,999 35 15 00 1 $55,819 95 Ke marks. Can'ied for 40 TABLE III. — (Continued.) Bonds due in 1852 . Number. Disposition. Desig- nation. Proceeds. Mode of Pay in' t By whom . Negociated. Amount of Discount. Remarks. Brought foi 'iWard, $455,999 35 $55,819 95 102 Sold, $500 485 00 Cash, S. F. Belknap, 15 00 1 103 I Ll 500 485 00 15 00 104 500 485 00 u 15 00 1 105 500 485 00 “ 15 00 106 500 421 65 Stock, “ 78 35 107 u 500 ; 421 65 “ 78 35 108 500 421 65 “ 78 35 109 500 421 65 it 78 35 110 500 421 65 u 78 35 111 1 “ 500 421 65 Li “ 78 35 112 ! “ 500 421 65 “ 78 35 113 1 ‘‘ 500 421 65 U “ 78 35 114 500 421 65 it “ 78 35 115 ‘‘ 500 421 65 u 78 35 116 “ 500 421 65 a (( 78 35 117 500 485 00 Cash, S. E. Robbins, 15 00 118 “ 500 485 00 Li “ 15 00 119 500 485 00 Li S. F. Belknap, 15 00 120 500 485 00 a ii 15 00 121 u 500 485 00 a ii 15 00 122 “ 500 485 00 a ii 15 00 123 “ 500 485 00 a Davenport & Bridges, . 15 00 124 500 485 00 a a 15 00 125 “ 500 485 00 a n 15 00 126 “ 500 421 65 Stock, S. F. Belknap, 78 35 127 500 485 00 Cash, S. E. Robbins, 15 00 128 11 500' 485 00 U u 15 00 129 u 500 485 00 U n 15 00 130 u 500' 421 65 Stock, S. F. Belknap, 78 35 131 (( 500 500 00 132 500 421 65 Stock, u 78 35 133 “ 500 421 65 u 78 35 134 “ 500 421 65 a ii 78 35 135 “ 500 421 65 a ii 78 35 136 500 421 65 a ii 78 35 137 500 421 65 a ii 78 35 138 500 421 65 a ii 78 35 139 “ 500 421 65 a ii 78 35 140 u 500 421 65 a ii 78 35 141 a 5oo: 421 65 a ii • 78 35 142 “ 500 421 65 Li 'ii 78 35 143 500 421 65 u ii 78 35 144 500’ 421 65 u ii 78 35 145 “ 500 421 65 a ii 78 35 146 500 421 65 a ii 78 35 147 “ 500 421 65 a ii 78 35 148 “ 500 421 65 u ii 78 35 149 “ 500 421 65 a (( 78 35 150 “ 500 421 65 a ii 78 35 151 ;; 5oo: 421 65 a ii 78 35 152 500 421 65 fit ii 78 35 153 500' 421 65 u ii 78 35 154 “ 500' 421 65 u ii 78 35 155 u 500' 421 65 a ii 78 35 156 u 5oo; 421 65 tc ii 78 35 157 u 500l 421 65 it ii 78 35 158 500 421 65 a ii 78 35 159 500 421 65 a ii 78 35 160 “ 500 421 65 a ii 78 35 161 “ 500 421 65 ‘i ii 78 35 162 u 500 421 65 it ii 78 35 163 “ 500 485 00 Cash, ii 15 00 164 “ 500 485 00 ii 15 00 165 500 485 00 ti 15 00 Carried for' ward, $483,766 95 $60,052 35 TABLE III. — (Continued.) 41 Bonds due in 1852 . N umber. Disposition. Desig- nation. Proceeds. Mode of Pajm’t. By whom Negociated. Amount of Discount. Remarks. Brought for ward. $483,766 95 $60,052 35 166 Sold, r $500 485 00 Cash, S. F. Belknap, 15 00 167 500 485 00 15 00 168 “ 500 485 00 “ “ 15 00 169 “ 500 485 00 “ 15 00 170 “ 500 485 00 (( “ 15 00 171 Ci 500 485 00 U “ 15 00 172 “ 500 485 00 ii. “ 15 00 173 “ 500 485 00 u “ 15 00 174 500 485 00 u 15 00 175 500 485 00 (( “ 15 00 176 “ 500 485 00 “ “ 15 00 177 “ 500 485 00 “ “ 15 00 178 “ 500 485 00 “ “ 15 00 179 “ 500 485 00 u “ 15 00 180 500 485 00 “ “ 15 00 181 “ 500 485 00 u ii 15 00 182 “ 500 485 00 “ 15 00 183 “ 500 485 00 u 15 00 184 u 500 485 00 “ 15 00 185 “ 500 485 00 u 15 00 186 500 485 00 “ 15 00 187 u 500 “ 11 500 00 188 ii 500 u 11 500 00 189 “ 500 u 11 500 00 190 a 500 “ It 500 00 191 u 500 Const* ion. H. R. Campbell, 500 00 192 it 500 (C 500 00 193 u 500 u 11 500 00 194 500 “ 500 00 195 a 500 485 00 Cash, S. E. Robbins, 15 00 196 a 500 485 00 S. F. Belknap, 15 00 197 u 500 485 00 (( “ 15 00 198 500 485 00 (( “ 15 00 199 u 500 485 00 u “ 15 00 200 500 485 00 it 11 15 00 201 u 500 485 00 n “ 15 00 202 ii 500 485 00 11 15 00 203 u 500 485 00 “ 15 00 204 Destroyed, . 500 205 “ 500 206 U 500 1 207 ) to > Burnt, . . 500 I 300 ) 1 Burnt, 300 ! 2 Snlrl 300 291 00 Cash, J. W. Fenno, 9 00 3 300 291 00 u H. H. Peirce, 9 00 4 u 300 291 00 u ii 9 00 5 U 300 291 00 Li “ 9 00 1 6 u 300 291 00 it G. P. Sprague, 9 00 1 7 ii 300 291 00 ii 9 00 1 8 (i 300 291 00 11 9 00 9 u 300 291 00 » J. H. Harris, 9 00 1 10 u 300 291 00 (( L. D. Herrick, 9 00 ! I 11 a 300 291 00 ii Michael Whitney, 9 00 1 12 a 300 291 00 it .J. J. Scott, 9 00 1 13 300 291 00 ii G. I. Sprague, 9 00 1 14 ‘‘ 300 291 00 ii ii 9 00 1 15 u 300 291 00 9 00 1 16 a 300 291 00 Geo. Elliott, 9 00 i 17 li 300 291 00 a 9 00 1 18 a 300 291 00 ii ,J. L. Barker, 9 00 19 300 291 00 S. Willard, 9 00 1 Carried for ward, $503,554 95 $64,664 36 F 24 25 26 27 28 29 30 31 32 33 34 35 86 37 38 39 40: 41| 42' 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75* 76 77 78 79 80 81 82 83 TABLE III. — (Continued.) Bonds due in 1852 . Desig- Mode By whom Amount Proceeds. of of nation. Paym’t . Negotiated. Discount. $503,554 9£ 291 OC $64,664 35 9 00 $30C 30C > Cash, E. Hackett, 291 OC 1 “ Wm. Ashley, 9 00 300 291 OC ( “ E. D. Briergs 9 00 300 291 OC 1 “ Allen Hazen, 9 00 300 291 00 1 “ ii 9 00 300 291 00 1 “ Mary B. Herring, 9 00 30( 291 00 S. 0. Mead, 9 00 300 291 00 9 00 300 291 00 Z. P. Burnham, 9 00 300 291 00 U R. Richardson, 9 00 300 291 00 u Enos Stiles, 9 00 300 291 00 u M. H. Bass, 9 00 300 291 00 a Warren Goddard, 9 00 300 291 00 Robert Calder, 9 00 300 291 00 a H. H. Jones, 9 00 300 291 00 ii 9 00 300 291 00 Charles R. Wood, 9 00 300 291 00 Geo. Langdon, 9 00 300 291 00 a Amos Blanchard, 9 00 300 291 00 u Isaac Vincent, 9 00 300 291 00 u G. C. Shepard, 9 00 300 291 00 u N. Gillett, 9 00 300 291 00 U Jed. Sprague, 9 00 300 291 00 u Simeon Willard, 9 00 300 291 00 LL Peleg Morey, 9 00 300 291 oa U Mary Hurd, 9 00 300 291 00 9 00 300 291 00 Daniel Parish, 9 00 300 291 00 u A. Edwards, 9 00 300 291 00 u H. Jackson, 9 00 300 291 00 » ii 9 00 300 291 00 ii H. A. Wilcox, 9 00 300 291 00 J. Ellison, 9 00 300 291 00 it A. L. Baker, 9 00 300 291 00 LL S. F. Belknap, 9 00 300 291 00 ii 9 00 300 291 00 it ii 9 00 300 291 00 ii ii 9 00 300 291 00 U ii 9 00 300 291 00 ii ii 9 00 300 291 00 u ii 9 00 300 291 00 u ii 9 00 300 291 00 u ii 9 00 300 291 00 ii ii 9 00 300 291 00 (( Martha Jennison, 9 00 300 291 00 (( C. B. S. Shaw, 9 00 300 291 00 ii D. W. Dee Swallow, . . 9 00 300 300 291 00 291 00 ii Davenport & Bridges,. 9 00 9 00 300 252 99 Stock, S. F. Belknap, 47 01 300 252 99 47 01 300 291 00 Cash, (( 9 00 300 291 00 “ ii 9 00 300 291 00 ii ii 9 00 300 291 00 ii Jacob Forster, 9 00 300 291 00 a S. F. Belknap, 9 00 300 291 00 ii 9 00 300 291 00 it i( 9 00 300 291 00 ii ii 9 00 300 252 99 Stock, ii 47 01 300 252 99 ii ii 47 01 300 252 99 ii (( 47 01 300 252 99 ii (( 47 01 300 252 99 ii 47 01 $521,902 88 $68,697 12 iDer. 84 85 86 87 88 89 90 91 92 93 94 95 56 97 98 99 100 101 to 313 314 315 316 317 318 319 320 321 322 323 324 to 325 326 327 to 462 463 464 to 666 667 668 to 995 TABLE III. — (Continued.) 43 Bonds dice in 1852 . ward. $521,902 88 $300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 300 252 99 Desig- nation. 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 300 $526,203 71 Mode of Paym’t. Stock, By whom Negociated. S. F. Belknap, Amount of Discount. $68,697 12 47 oi: 47 01 47 01 47 01 47 01 47 01 47 01 47 01 47 01 47 01 47 01 47 01 47 01 47 01 47 01 47 01 47 01 $69,496 29 GivenCom missioners on S. F.Bel knap’s ac’t, as sample. 44 TABLE III— (Continued.) A CONDENSED STATEMENT CONCERNING THE BONDS DUE IN 1852. The Bonds marked “Burnt,” were destroyed by the Finance Committee, as appears by their several vouchers on file, giving the number and amount of every Bond so burnt, which vouchers are also copied, by letter press, into the letter books of the Company. Those marked “ Destroyed,” were destroyed by the Clerk, as per his statement upon the “Bond Record;” the other evidence of such destruction being, that no coupons from these Bonds have ever been presented for payment. The Bond marked “ Defaced,” was, after erasing all signatures upon it, given as a sample of the form of the Company’s Bonds, to the Commissioners who were appointed to settle the account between Mr, S. F. Belknap and this Company, he being (diarged with a large amount of these Bonds. Now on file with the Belknap papers. Those marked “ Filed,” are now in the Company’s office, among their papers on file, as vouchers, having been exchanged for other Bonds, or otherwise returned to the office. Those marked “ Collateral,” are out as security upon Notes of Mr. Josiah Quincy, Jr. Two Bonds, on the first page of the Table, are marked WW, and against one of these, under the head of “ Remai-ks,” it is stated, “ altered from UU.” Upon the original WW, after it had been sold, it was found that the signature of one of the officers was emitted, and that officer being absent, the Bond UU was altered to YfW, and substituted; the original WW, as imperfect, was burnt by the Finance Committee. Bond No. 1 , for $ 300 , marked “ Burnt,” was once sold and paid for, and the Books of the Company do not shovr that it was exchanged by them, or received in any way ; neither can it be otherwise traced, as the Broker, into whose possession it passed from the original purchaser, has retained no memorandum of its disposal by himself. It now stands in “ Suspense Account ” upon the Company’s Books, and from there must go to “ Profit and Loss ” account. Bonds numbered 370 to 519 , both inclusive, for $1000 each, were made payable either in 1852 or 1854 , at the option of the Company. None of this series were ever sold, but some of them, as will be observed, are out as Collateral on Mr. Quincy’s Notes. Bonds numbered L and W, each $ 5000 ; numbers 165 , 237 , and 304 , for $1000 each; and numbers 131 , 187 , 188 , 189 , 190 , each $ 500 , have been ti’aced from the parties now holding, through many previous holders, to Mr. S. F. Belknap, although not included among those charged to him on the Company’s Books. The fact has been clearly ascertained that they were used by him, and it is therefore supposed, that 45 TABLE IIL — (Continued.) • through carelessness, they were omitted to be charged when delivered. As these Bonds have realised nothing to the Company, they are so carried into the column headed “ Proceeds,” their entire face being charged in the column headed “ Discount.” The sum realized from Mr. Belknap’s assets will not probably pay anything upon these. The Bonds due in 1852 were ordered to be sold, limited under, or at a discount of 3 per cent., and such as were disposed of were so sold, until, in 1851, it is found that the amount of $5000 was sold at 5 per cent, discount, and $1000 at 5^ per cent, discount — the 4 cent, being a commission for the sale. These are charged to Mr. J. C. Dunn, who states that he was not the purchaser of them, but that he sold them at the request of the Treasurer. After the death of Mr. S. F. Belknap, the unsettled accounts between him and the Company were adjusted by a Legal Commission. These accounts contained a charge to Mr. Belknap of Bonds to the amount of $273,700, and for these the Commissioners decided that the Company should be allowed but the “ market value ” at the time of such decision, which resulted in the Company’s suffering a discount of 15 67-100 per cent, on these Bonds. This lot of Bonds, therefore, are reckoned in the Table as “ Sold ” at that discount. The Bonds omitted to be charged to him, as stated in the opposite page, are also considered as “ Sold,” although no proceeds were realized, because they were collectable from the Company on the 1st of July, 1852, like all others, except Collateral. This omission to charge the last named Bonds occurred during the term of office of Mr. Wm. Warner, Treasurer, jtiro tern. Total amount of 1852 Bonds sold and payable, $595,700 Out as Collateral on Mr. Quincy’s Notes, $70,900 Note. — Many sales of Bonds may have been made for Stocks in some other Coiporations, which are represented in this Table to have been made for cash, but the loose manner in which the Books were, at the time of these sales, kept, renders it almost, if not quite, impossible to decide what was or what was not cash, many things being made cash entries, which very certainly had nothing to do with cash. A memorandum showed one transaction of this descrip- tion as follows: On the 14th of April, 1848, Jacob Forster was a purchaser of Bonds to the amount of $7,300. On the same date, was purchased, according to the Cash Book, 58 Shares Ver- mont and Massachusetts Railroad Stock, a $84, and 26 Shares Cheshire Railroad Stock, a $100; both together amounting to $7,472; but the coupons on the Vennont Central Bonds from January 1st to April 14th, (the date of purchase,) and a check on that date, make just $172; deducting which from the $7,472, leaves just what the Bonds amounted to. These same Stocks received in payment were sold the same day at a loss of $968.85; and Mr. Forster was also allowed the 3 per cent, discount on the Bonds as usual, making altogether a discount or loss on the Bonds of over 16^ per cent. 46 TABLE in. — (Continued.) BONDS DUE IN 1854. Desig- Mode By whom Amount Number. Disposition. Proceeds. of of Remarks. nation. Paym ’t Negociated. Discount. A X Burnt, $5000 B ^ u 5000 C X ii 5000 D X “ 5000 E X 5000 F X 5000 G X u 5000 H X u 5000 I X u 5000 J X 5000 K ^ u 5000 L ^ (( 5000 M X u 5000 N X u 5000 0 X u 5000 P X U 5000 Q X U 5000 R X Collateral, . 5000 S X Burnt, 5000 T X it 5000 U X Collateral, . 5000 V X u 5000 WX U 5000 Y X Filed, 5000 Z X Burnt, .... 5000 A 1 FRed, 5000 B 1 Burnt, .... 5000 1 C 1 u 5000 1 D 1 u 5000 E 1 Collateral, . 5000 F 1 “ 5000 G 1 u 5000 H 1 U 5000 I 1 U 5000 K 1 Filed, 5000 L 1 Burnt, 5000 M 1 U 5000 N 1 U 5000 0 1 5000 P 1 £( 5000 Q 1 Collateral, . 5000 j R 1 5000 S 1 ) ! to > Burnt, . . . 5000 Z 1 ) A 2 Burnt, .... 5000 B 2 U 5000 C 2 Collateral, . 5000 D 2 u 5000 a ) to i > Burnt, . . , 5000 1 Burnt, .... 5000 2 ti 5000 3 U 5000 4 it 5000 5 Collateral, . 5000 6 “ 5000 7 U 5000 8 a 5000 9 u 5000 10 u 5000 1 er. 11 12 13 14 15 16 17 18 19 20 21 TABLE III. — (Continued.) 47 Bonds due in 1854. Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Remarks. $5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 I 5000 48 TABLE in. — (Continued.) Bonds due in 1854 . Number 1 Disposition. Desig- j Proceeds. nation. Mode cf Pcym’t 1 By whom Negociated. Amount of ! Discount. { Remarks, f 78 TUed, ' S500o| 79 i ; 5000 80! “ 5000| 1 81, Collateral, . ' 5000 82 I 5000 1 83 Burnt, . . , . ■ 5ooo; 84! “ , 5000' 8-5 1 “ 5000i 86 Collateral, . ! 50001 1 87 ■ Burnt, . . . . 5000' 88 “ 5000; 89 5000' 901 “ 5000, 91 Filed 5000! j 92 Burnt, 5000, 1 93j “ 5000^ 94 Collateral, . 5000' 1 95;Fned, 5000| 1 96!Bumt, .... 5000! 97 u 50001 ; / 98 “ 5000’ 99 “ 5000' 100 “ 5000| 1 101 5000 102 j Collateral, . 5000, i 103 U 5000' 104 u 5000! 10-5 “ 5000 1 ■ 106 5000l 1 107 u 5000 108 “ 5000 109 5000 1 1 110, Burnt, 5000 j 111 Filed, 5000 1 112 Burnt, .... 5000 1 113 “ 5000 114| Collateral, . 5000 I i llolBumt 5000 1161 1 “ 5000 117 Collateral, . 5000 ! 118 it ’ 50001 119 Burnt, 50001 120 5000 121 5000 j 122 5000 123 50001 i 1 124| Collateral, . 5000 1 125 i Burnt 5000 I 126 U 5000 f 127 5000j [ 128 (4 50001 129 44 5000! ! 1 130! Filed, 1 5000 1 1 131 Burnt, . . . . j 5000 i 132 i Collateral, .. 5000 133' 44 5000 1 1.34i 44 ; 5000 I 1351 “ : 5000 136 [Burnt, : 5000 1 137i Collateral, . 5000 138 ii 5000 i 1391 Burnt, .... 5000 1401 5000 1411 Filed, 5000 142 Burnt, .... 5000 \ 143 5000 1441 44 6000 i ;Der. 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 TABLE in. — (Continued.) 49 Bonds due in 1852 . Desig- Proceeds. Mode of By whom nation. $5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 Paym’t. i Negociated, 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 6000 Amount. of Discount. i i Remarks. i iDer. 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 TABLE m. — (Continued.) Bonds due in 1854 . Disposition. Desig- Proceeds. ! nation. ! $5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 3000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 Mode of Paym’t. By whom Negociated. Amount of Discount. ] j i iber. 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 TABLE III. — (Continued.) 51 Bonds due in 1854. Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Remark*. $5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 6000 6000 6000 1 1 1 i i i i 1 loer, 346 347 348 349 350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 51 to 100 1722 to TABLE ni. — (Continued.) Bonds due in 1854 . Desig- nation. Proceeds. S5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5oOO 5000 5000 6000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5900 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 5000 Mode of Paym’t. By whom Negociated. Amount of Discount. Bemark*. i 5000 5000 Duplicate ntunbers. 1000 1000 1000 1000 1000 1000 TABLE III. — (Continued.) 53 Bonds due in 1854 . Number. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negotiated. Amount of Discount. Remarks. 4425 FUed, $1000 4426 1000 * 4427 1000 4428 “ 1000 4429 U 1000 4430 u 1000 4431 “ 1000 4432 “ 1000 4433 1000 4434 U 1000 4435 ii 1000 4436 u 1000 4437 “ 1000 4438 u 1000 4439 ii 1000 4440 u 1000 4441 “ 1000 4442 ii 1000 4443 (i 1000 4444 u 1000 4445 1000 4446 u 1000 4447 “ 1000 4448 1000 4449 1000 4450 u 1000 4451 (( 1000 4452 LL 1000 4453 U 1000 4454 H. 1000 4455 1000 4456 ) to > Burnt, . . 1000 4721 ) 3609 Filed, 500 3610 U 500 3611 Li 500 3612 500 3613 600 3614 U 500 3615 Li 500 3616 500 3617 Li 500 3618 Li 500 3619 Li 500 3620 ii 500 3621 Li 500 3622 Li 500 3623 Li 500 3624 Li 500 3625 500 3626 500 3627 Li 500 3628 Li 500 * 3629 Li 500 3630 ii 500 3631 Li 500 3632 ii 500 3633 ii 500 3634 500 3635 Li 600 3636 ii 600 3637 LL 500 3638 ii 600 3639 U 600 i 3640 ii 600 54 TABLE III. — (Continued.) Bonds due in 1854 . Number. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Remarks. 3641 Filed, 500 3642 “ 400 3643 U 500 3644 U 500 3645 “ 500 3646 ) to V Burnt, . . 500 4418 ) 2601 Filed, 100 2602 U 100 2603 100 2604 “ 100 2605 100 2606 “ 100 2607 100 2608 100 2609 “ 100 2610 (( 100 2611 “ 100 2612 u 100 ' 2613 u 100 2614 u 100 2615 u 100 2616 “ 100 2617 “ 100 2618 100 2619 100 1 2620 100 2621 100 1 1 2622 100 1 ! 2623 100 ! i 2624 100 ! 2625 100 2626 100 i 1 2627 100 1 1 2628 100 1 2629 u 100 1 2630 100 2631 u 100 2632 u 100 2633 iC 100 2634 u 100 2635 u 100 2636 u 100 2637 (£ 100 2638 100 2639 u 100 2640 (( 100 2641 u 100 2642 100 2643 u 100 2644 100 2645 (C 100 2646 U 100 2647 U 100 2648 u 100 1 2649 100 2650 u 100 2651 (( 100 2652 u 100 2653 u 100 2654 100 2655 U 100 2656 U 100 2657 U 100 2658 100 TABLE ni. — (Continued.) 55 Bonds due in 1854 . Number. Disposition. Desig- uation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Remarks. 2659 Filed, 100 1 2660 U 100 2661 “ 100 i 2662 ii 100 1 1 2663 u 100 2664 100 1 2665 “ 100 j 1 2666 u 100 1 2667 “ 100 2668 u 100 1 2669 u 100 1 2670 u 100 j 2671 u 100 - 1 2672 100 2673 100 1 2674 100 i 2675 u 100 2676 100 2677 100 2678 u 100 2679 u 100 • 2680 u 100 2681 u 100 2682 u 100 2683 u 100 i 2684 u 100 2685 100 2686 u 100 2687 u 100 i 2688 “ 100 2689 u 100 i 2690 (( 100 2691 u 100 2692 tl 100 1 ! 2693 il 100 2694 il 100 1 2695 u 100 1 1 2696 li 100 2697 u 100 ] 2698 u 100 i 2699 u 100 2700 u 100 i 2701 u 100 1 i 2702 100 1 2703 100 1 ! 2704 u 100 1 1 2705 100 1 1 I 1 2706 1 “ 100 1 1 2707 100 1 t 2708 ! » lOO 1 i 1 270S 1 “ IOC 1 1 1 i 271C 1 “ IOC 1 j i 1 271] IOC 1 1 j I 2715 * u IOC ) j 1 1 271c i “ IOC ) 1 1 1 251^ IOC ) i I 271f ) » 10( ) j 271( 10( ) 271^ r “ 10( ) I 1 271J J “ 10( ) 1 2715 ] » 10( ) 1 272( ) “ 10( ) 272: 1 “ 10( ) 2725 2 “ 10( 3 272i 3 “ 10( 3 1 272- i » 10( 3 ! 2721 5 “ 10< 3 56 TABLE III. — (Continued.) Bonds due in 1854. Number. Disposition. j Desig- 1 nation. Proceeds. Mode of Paym't. By whom Negociated. Amount of Discount. Remarks. 2726 Filed, 1 100 2727 “ 100 2728 100 i 1 2729 U 100 ! 2730 (i 100 i 2731 “ 100 1 2732 “ 100 i 2733 100 2734 “ 100 2735 “ 100 1 1 2736 u 100 ! 2737 u 100 2738 100 j 2739 100 2740 “ 100 2741 “ 100 i 2742 “ 100 1 2743 “ 100 i 2744 “ 100 2745 “ 100 2746 100 2747 u 100 2748 100 2749 “ 100 2750 100 2751 11 100 2752 “ 100 2753 “ 100 2754 “ 100 2755 “ 100 2756 “ 100 2757 » 100 2758 “ 100 ' 2759 ;; 100 2760 100 2761 “ 100 2762 It 100 2763 It 100 2764 11 100 2765 “ 100 2766 11 100 2767 100 2768 ) to > Burnt, . . . i 100 3608 ) 1 A CONDENSED STATEMENT CONCERNING THE BONDS DUE IN 1854. These Bonds were issued under a vote of the Company, and some of them were sold, at a discount of 10 per cent., but as sufficient means could not be realised from this class of Bonds, others, denominated “ Mortgage Bonds,” were issued instead, and the Bonds of 1854, which had been sold, were repurchased at the price originally obtained for them. Those Bonds of this class represented to be out as Collateral upon J. Quincy, Jr.’s Notes, ($355,000) have since been redeemed by the Company. TABLE ITT. — (Continued.) 57 BONDS DUE IN 1856. Number. Disposition. 2501 2502 2503 2504 2505 2506 2507 2508 2509 2510 2511 2512 2513 2514 2515 2516 2517 2518 2519 2520 2521 2522 2523 2524 2525 2526 2527 2528 2529 2530 2531 2532 2533 2534 2535 2536 2537 2538 2539 2540 2541 2542 2543 2544 2545 2546 2547 2548 2549 2550 2551 2552 2553 2554 2555 2556 2557 2558 2559 2560 2561 2562 2563 2564 2565 Paid out, . . Burnt, Paid out, . . Burnt, . . Paid out. Filed, Desig- Proceeds. Mode of Paym’t. Defaced,. . . Burnt, Sold, Collateral, Filed, $1000 1000 1000 1000 1000 1000 1000 1000 1000 loool looo; looo! lOOOl 1000 looo! loool 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 lOOOj 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 Carried for ward, H $1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 1000 00 Scrip, By whom Negociated. Amount i of I Remarks. Discount. 917 50 917 50 922 50 922 50 907 50 907 50 907 50 907 50 907 50 907 50 960 00 960 00 960 00 Cash, { Given a* sample to J. P. Putnam. $41,005 00 Stock, J. C. Dunn, S. Brown & Sons, J. C. Dunn, G. W. Benedict, 82 50 : 82 50; 77 50 77 50, 92 50' 92 50 92 50 92 50 92 50 92 50 40 00 ( nn ) Vt. & Boston 40 00 < gtocit 40 00, V now on hand. $995 00 ; 58 TABLE m. — (Continued.) Bonds due in 1856. Number. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom . Negociated, Amount of Discount. Remarks. Brought for ward, 541,005 00 $995 00 2566 Filed, SIOOO 2567 u 1000 2568 ! u 1000 2569 ' U 1000 2570 1 u 1000 2571 a 1000 2572 ! u 1000 2573 ' U 1000 2574 Burnt, . . . . 1000 2575 1000 2576 it 1000 2577 Sold, 1000 877 50 Cash, Willis & Co. . 122 50 2578 Burnt, 1000 2579 1000 2580 1000 2581 1000 2582 “ 1000 2583 “ 1000 2584 1000 2585 » 1000 2586 it 1000 2587 U 1000 1 2588 1000 2589 “ 1000 2590 “ 1000 2591 FHed, .... 1000 2592 1 u 1000 2593 a 1000 2594 ! 1000 2595 1 1000 2596; 1000 2597 Bnmt, 1000 2598, Filed, 1000 2599' 1000 2600 Burnt, .... 1000 2601 Collateral, . 1000 2602, u ’ 1000 2603 j u 1000 2604: a 1000 2605 u 1000 2606 a 1000 2607 1000 2608 1000 26091 a 1000 26101 a 1000 2611 Burnt, 1000 2612, “ 1000 2613; It 1000 2614 Collateral, . 1000 1 2615: » 1000 1 2616 Burnt, 1000 2617: 1000 j i 2618| 1000 26191 a 1000 > 2620 a 1000 262l! 1000 1 26221 1000 1 i 2623 u 1000 1 2624 a 1000 2625! ii 1000 2626 a 1000 2627: 1000 2628 a 1000 2629 a 1000 Carried for ward, 1 $41,882 50 $1,117 50 TABLE ni. — (Continued.) 59 Bonds due in 1856. Number. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negotiated. Amount of Discount. Remarks. Brought for ward. $41,882 50 $1,117 50 2630 Collateral, . $1000 2631 1000 2632 U 1000 2633 u 1000 2634 Burnt, .... 1000 2635 a 1000 2636 a 1000 2637 u 1000 2638 Filed, 1000 2639 Burnt, 1000 2640 ii 1000 2641 U 1000 2642 ii 1000 2643 a 1000 2644 u 1000 2645 u 1000 2646 a 1000 1 2647 u 1000 2648 Filed, 1000 2649 “ 1000 2650 Burnt, .... 1000 2651 U 1000 2652 Filed, 1000 2653 U 1000 2654 u 1000 2655 Burnt, 1000 2656 ii 1000 2657 U 1000 1 2658 (( 1000 2659 ii 1000 2660 Collateral, . 1000 2661 U 1000 2662 ii 1000 2663 ii 1000 1 2664 Burnt, 1000 i 2665 ii 1000 ! 2666 Filed, 1000 2667 ii 1000 j 2668 ii 1000 2669 ii loooi 2670 Burnt, .... 1000 2671 ir 1000 2672 a 1000 1 2673 a 1000 1 2674 ii 1000 2675 Filed, 1000 2676 d 1000 2677 Burnt, .... 1000 2678 Filed, 1000 2679 u 1000 2680 ti 1000 2681 Burnt, .... 1000 2682 u 1000 2683 u 1000 2684 ii 1000 2685 ii 1000 2686 ii 1000 2687 ii 1000 2688 a 1000 2689 a 1000 2690 ii 1000 2691 a Snlrl 1000 1000 900 00 Stock, 100 00 f Rec. payt. Vt. 2693 ii 1000 900 00 100 00 1 Valley R. R. J Stock, now \ on lifiml* Carried for ward, $43,682 50 $1,317 60 2694 2695 2696 2697 2698 2699 2700 2701 2702 2703 2704 2705 2706 2707 2708 2709 2710 2711 2712 2713 2714 2715 2716 2717 2718 2719 2720 2721 2722 2723 2724 2725 2726 2727 2728 2729 2730 2731 2732 2733 2734 2735 2736 2737 2738 2739 2740 2741 2742 2743 2744 2745 2746 2747 2748 2749 2750; 2751: 2752 2300 2301 2302 2303 TABLE 111. — (Continued.) Bonds due in 1856. Desig- •ward, $1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000; looo! loooj 1000 1000, 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000 500 500 500 500 ward, $43,682 50 900 00 900 00 900 00 900 00 900 00 900 00 900 00 900 00 900 00 900 00 900 00 900 00 900 00 :Mode of Payni’i. By whom i Amount of Negotiated. ! i Discount. Remarks. lock,' i 100 00' 100 00 » 100 00 “ 1 100 00 U i 100 00 “ i 100 00 100 00 U i 100 00 <( 1 100 00 1 100 00 u 1 100 oo: “ 1 100 00’ 100 00 745 00 Cash, Willis & Co. Rec. payment Vermont Valley Rail Road Stock, now on band. 255 00 500 00 Scrip, r.oo 00 , “ 500 OOj ‘‘ 500 00! $58,127 50 $2,872 50 Given to Printer as sample to print from. moer. 2304 2305 2306 2307 2308 2309 2310 2311 2312 2313 2314 2315 2316 2317 2318 2319 2320 2321 2322 2323 2324 2325 2326 2327 2328 2329 2330 2331 2332 2333 2334 2335 2336 2337 2338 2339 2340 2341 2342 2343 2344 2345 2346 2347 2348 2349 2350 2351 2352 2353 2354 2355 2356 2357 2358 2359 2360 2361 2362 TABLE ni. — (Continued.) 61 Carried for! Bojids due in 1856 . Desig- nation. Proceeds. Mode of Paym’t. By whom Negotiated. Amount of Discount. ! Remarks. $58,127 50 $2,872 60 500 500 00 Scrip, 500 500 00 “ 500 500 00 500 500 00 “ 500 500 00 U 500 500 00 “ 500 500 00 cc 500 500 00 ii 500 500 00 “ 500 500 00 (( 500 500 00 u 500 500 00 (C 500 500 00 “ 500 500 00 “ 500 500 00 “ 500 500 00 u 500 500 00 “ 500 500 00 “ 500 500 00 “ 500 500 00 500 500 00 500 500 00 500 500 00 u 500 500 00 500 500 00 “ 500 500 00 “ 500 500 00 n 500 500 00 It 500 500 00 “ 500 500 00 “ 500 500 00 ‘‘ 500 500 00 500 500 OOi u 500 500 00 500 500 00 a 1 500 500 00 ! “ 500 500 00 i “ 500 500 00 500 500 00 1 “ 500 500 00 1 “ 1 500 500 00 i 1 500 500 00 1 t 500 500 00 1 500 500 00 i “ i 500 500 00 1 a 500 500 00 cc i 500 500 00 1 500 500 00 &C 500 500 00 1 500 500 00 1 1 500 500 00 it j 500 500 00 ! u 500 500 00 it 1 I 500 600 00 1 u 1 1 500 500 00 1 500 500 00 a 500 600 00 \ u 1 500 500 00 1 u 500 500 00 ' U 1 500 500 00 1 it 500 500 00 ii 500 500 00 u 500 500 00 u 500 500 00 u ward, $90,127^0 $2,872 50 mber. 2368, 2369 2370 2371 2372 2373 2374 2375 2376 2377 2378 2379 2380 2381 2382 2383 2384 2385 2386 2387 2388 2389 2390 2391 2392 2393 2394 2395 2396 2397 2398 2399 2400 2401 2402 2403 2404 2405 2406 2407 2408 2409 2410 2411 2412 2413 2414 2415 2416 2417 2418 2419 2420 2421 2422 2423 2424 2425 2426 2427 2428 2429 2430 2431 TABLE III. — (Continued.) Bonds due in 1856 . Carried for Desig- nation. Proceeds. Mode of Paym’t. By whom Negotiated. Amount of Discount. $90,127 50 $2,872 50 $500 500 00 Scrip, 500 500 00 500 500 00 “ 500 500 00 “ 500 500 00 U 500 500 00 u 500 500 00 u 500 500 00 500 500 00 u 500 500 00 500 500 00 U 500 500 00 U 500 500 00 i “ 500 500 00 500 500 00 ! 500 500 00 500 500 00 U 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 a 500 500 00 u 500 500 00 Ci 500 500 00 u 500 500 00 a 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 500 500 00 u 1 500 500 00 1 \ 500 500 00 1 (( 1 500 500 00 1 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 iC 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 500 500 00 u 500 500 00 500 500 00 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 u 500 500 500 00 (( 500 500 00 u 500 500 00 ic 500 500 00 500 500 00 u 500 500 00 u 500 500 00 u 500 500 00 500 500 00 ward. $121,627 50 $2,872 50 Bemarks. TABLE III. — (Continued.) 63 Bonds due in 1856 . mber. Disposition, 1 Desig- lation. M Proceeds. i Pa Brought for \ yard. $121,627 50 . . 2432 ] ^aid out, . . $500 $500 00 Sc 2433 U 500 500 00 2434 u 500 500 00 2435 (( 500 500 00 2436 500 500 00 2437 u 500 500 00 2438 (C 500 500 00 2439 Li 500 500 00 2440 2441 Burnt, .... J’aid out, . . 500 500 00 2442 Li 500 500 00 2443 LL 500 500 00 2444 U 500 500 00 2445 LL 500 500 00 2446 Sold, 500 480 00 SI 2447 U 500 480 00 2448 Paid out, . . 500 500 00 S( 2449 Filed, 500 2450 “ 500 2451 Paid out, . . 500 500 00 S 2452 Sold, 500 438 75 C 2453 Burnt, .... 500 2454 Sold, 500 438 75 C 2455 Burnt, .... 500 2456 U 500 2457 Li 500 2458 Li 500 2459 LL 500 2460 LL 500 2461 500 2462 Li 500 2463 LL 500 2464 LL 500 2465 Filed, 500 2466 500 2467 Burnt, . , . , 500 2468 500 2469 500 2470 LL 500 2471 LL 500 1 2472 i 500 1 2473 ; 500 1 2474 LL 500 ) 2475 i “ 50C 1 2476 50C » 2477 ' Sold, i “ 50C ) 440 00 ( 2476 50( ) 440 00 247£ 1 “ 50( ) 440 00 248C ) » 50( ) 440 00 248] L “ 50{ ) 440 00 248£ 50( ) 440 00 2486 ! “ 50( ) 440 00 248^ 50( ) 440 00 2486 ) “ 50( 3 440 00 248( 50( 3 440 00 248: j “ 501 3 440 00 248! 3 » 50! 3 440 00 248! 3 50< O 453 75 2491 0 “ 50' 0 453 75 249 1 » 50' 0 453 75 249! 2 “ 50 0 453 75 249: 3 “ 50 0 453 75 249 4 “ 50 0 453 75 249 5 “ 50 0 453 75 Carried fo r ward. $139,421 25 By whom Negociated. Amount of Discount. Remoiks. $2,872 50 Cash, . G. W. Benedict, WiUis & Co. Willis & Co 60 00 60 00 (( 60 00 (( 60 00 (( 60 00 (( 60 00 u 60 00 u 60 00 u 60 00 il 60 00 u 60 00 u 60 00 J Q Pnrin 46 25 46 25 LL 46 25 LL 46 25 Li 46 25 LL 46 25 LL 46 25 ' $4,078 76 20 00 20 00 61 25 61 25 ( Rec. in pay’t. Vt. & Boston Teleg’h Stock now on hand. ZOUl 200] 2005 200c 2004 200£ 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 2042 2043 2044 2045 2046 2047 2048 2049 2050 2051 2052 2053 2054 2055 2056 2057 2058 TABLE III.— (Continued.) Bonds due in 1856 . Desig- nation. Proceeds. Mode of Paym’t. ward. $139,421 2c • 453 75 \ $500 1 Cash, 50C 1 453 75 50C 1 453 75 1 500 • 460 00 1 500 1 460 00 1 “ 300 300 1 300 00 1 300 00 Scrip, 300 ' 300 00 (C 300 ' 300 00 4C 300 300 00 U 300 300 00 44 300 300 00 44 300 300 00 300 300 00 300 300 00 300 300 00 300 300 00 300 300 00 300 300 00 44 300 300 00 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 300 300 00 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 300 300 00 300 300 00 44 300 300 00 300 300 00 300 300 00 44 300 300 00 44 300 300 00 300 300 00 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 44 300 300 300 300 00 44 300 300 00 44 300 300 00 44 300 300 00 t^ard. $158,502 50 . Disposition. Brought for Sold, . . . Paid out, iled, . . . aid out, By whom Negociated. J. C. Dunn, Amount of Discount. ^4,078 75 46 25 46 25 46 25 40 00 40 00 $4,297 50 TABLE III. — (Continued.) 65 Bonds due in 1856 . Number. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Remarks. ward. $158,502 50 $4,297 50 2059 Paid out, . . $300 300 00 Scrip, j 2060 U 300 300 00 “ 2061 u 300 300 00 “ f Destroyed by 2062 “ 300 300 00 mistake by J. 2063 Destroyed, . 300 1 J Quincy, Jr. as I per his state- 2064 Paid out, . . 300 300 00 Scrip, ment on Bond 2065 “ 300 300 00 i [ Book. 2066 “ 300 300 00 1 2067 U 300 300 00 2068 ii 300 300 00 “ i 2069 a 300 300 00 u 2070 a 300 300 00 u '2071 u 300 300 00 “ ! 2072 ££ 300 300 00 iC 1 2073 « 300 300 00 u i 2074 u 300 300 00 u 2075 u 300 300 00 iC 1 2076 u 300 300 00 u 1 2077 u 300 300 00 “ 2078 u 300 300 00 iC 2079 u 300 300 00 C6 2080 » 300 300 00 Ci 2081 u 300 300 00 a 2082 u 300 300 00 u 2083 u 300 300 00 u 2084 u 300 300 00 u 2085 u 300 300 00 (£ 2086 u 300 300 00 (( 2087 u 300 300 00 U 2088 u 300 300 00 U 2089 Filed, 300 2090 Paid out, . . 300 300 00 tc* 2091 300 300 00 u 2092 a 300 300 00 a 2093 u 300 300 00 u 2094 u 300 300 00 a 2095 iC 300 300 00 u 2096 u 300 300 00 CC 2097 u 300 300 00 CC 2098 u 300 300 00 a 1 2099 a 300 300 00 iC 1 1 2100 u 300 300 00 CC I ' 2101 u 300 300 00 CC 2102 Filed, 300 i j 2103 Paid out, . . 300 300 00 2104 300 300 00 u 2105 4( 300 .300 00 u i 2106 (£ 300 300 00 CC •I 2107 (( 300 .300 00 CC i 2108 U 300 300 00 CC 1 2109 300 300 00 CC i 2110 300 300 00 CC ! 2111 CC 300 300 00 j j 2112 U 300 300 00 CC 1 2113 u 300 300 00 CC 1 2114 300 300 00 CC i 2115 , 300 300 00 CC 1 1 2116 1 300 300 00 CC 2117 300 300 00 CC 2118 i “ 300 300 00 , CC 211E 300 1 300 00 , u 212C > Filed, 300 1 212] . Paid out, . . 300 1 300 00 1 “ 2125 ! “ 300 1 300 OO 1 » Carried foi • ward. $176,502 50 $4,297 60 1 I 66 TABLE m. — (Continued.) Bonds due in 1856 . Number. Disposition. Desig- nation. Proceeds. Mode of Pajm’t. By whom Negotiated. Amount of Discount. 3176,502 50 34,297 50 2123 Paid out, . . 3300 3300 00 I Scrip, j 2124 “ 300 300 00 i 2125 300 300 00 (C 1 i 2126 U 300 300 00 (( ! ! 2127 “ 300 300 00 2128 “ 300 300 00 u 1 2129 u 300 300 00 i 1 2130 (( 300 300 00 j 2131 300 300 00 u 2132 300 300 00 n 2133 “ 300 300 00 2134 300 300 00 u ! 2135 u 300 300 00 1 2136 300 300 00 1 2137 Filed, 300 2138 Paid out, . . 300 300 00 i 2139 Filed, 300 1 2140 U 300 2141 ) to > Burnt, . . 300 j 2299 ) i 1 Paid out, . . 100 100 00 Scrip, 2 “ 100 100 00 u 1 S U 100 100 00 u 4 “ 100 100 00 n 5 100 100 00 u 6 “ 100 100 00 a 7 100 100 00 S u 100 100 00 u 9 “ 100 100 00 u 10 100 100 00 u 11 u 100 100 00 u 12 u 100 100 00 Li 13 u 100 100 00 u l4 ll 100 100 00 u 15 u 100 100 00 ii 16 n 100 100 00 « 17 a 100 100 00 a 18 u 100 100 00 ii 19 u 100 100 00 u 20 “ 100 100 00 (( 21 ‘‘ 100 100 00 u i 22 100 100 00 ‘‘ i i 23 u 100 100 00 I i 1 24 100 100 00 a { 25 u 100 100 00 u 26 100 100 00 u 27 “ 100 100 00 28 (i 100 100 00 u 29 “ 100 100 00 30 « 100 100 00 31 (( 100 100 00 32 100 100 00 u 33 100 100 00 ‘‘ 34 “ 100 100 00 u 35 “ 100 100 00 u 36 “ 100 100 00 « 37 100 100 00 38 “ 100 100 00 (( 39 100 100 00 ti • 40 “ 100 100 00 41 (( 100 100 00 1 42 100 100 00 Carried for wai'd. 3185,202 50 1 34,297 50 Remarks. s : J r er. 43 44 45 46 47 48 49 60 61 62 53 54 65 66 67 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 TABLE III. — ( Continued.) 67 Disposition. Bonds due in 1856 . Desig- nation. Proceeds. Mode of. Paym’t. By whom Negociated. $185,202 50 $100 'lOO 00 Scrip, ] 100 100 00 “ 100 100 00 100 100 00 “ I 100 100 00 100 100 00 u I 100 100 00 ;; I 100 100 00 100 100 00 u i ! 100 100 00 i 100 100 00 u ! 100 100 00 u I 100 100 00 u I 100 100 00 ! 100 100 00 u i j 100 100 00 u i 100 100 00 u j 100 100 00 u ■ 100 100 00 I 100 100 00 I 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 100 100 00 100 100 00 u 100 100 00 Li 100 100 00 Li 100 100 00 Li 100 100 00 Li 100 100 00 LL 100 100 00 Li 100 100 00 Li 100 100 00 a 100 100 00 ii 100 100 00 ii 100 100 00 ii i 100 100 00 a I 100 100 00 I 100 100 00 Li j 100 100 00 ii i 100 100 00 ii i 100 100 00 a i ! 100 100 00 ii 100 100 00 a 100 100 00 a 100 100 00 a 100 100 00 ii 100 100 00 ii 100 100 00 ii 100 100 00 a 100 100 00 ii 100 100 00 ii 100 100 00 ii 100 100 00 ii 100 100 00 100 100 00 ii 100 100 00 100 100 00 tc 100 100 00 I tc 100 100 00 I 100 100 00 I “ 100 1 1 100 00 I “ •ward, jpiyijOvA ovj Amount i of I Remarks. Discount. $4,297 50 1 I i $4,297 50 iDer. 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 TABLE III. — (Continued.) Bonds due in 1856 . Desig- nation. Proceeds. Mode of Payra’t. By whom Negociated. Amount. of Discount./ Remarks. ward, $191,602 50 $4,297 50 $100 'lOO 00 Scrip, 1 100 100 00 100 100 00 j 100 100 00 100 100 00 “ j 100 100 00 “ 100 100 00 (C 100 100 00 « 100 100 00 u 100 100 00 (( 100 100 00 u 100 100 00 (( 100 100 00 100 100 00 a 100 100 00 100 100 00 100 100 00 u 100 100 00 u 100 100 00 U 100 100 00 U 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 iL 1 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 U 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 U 100 100 00 100 100 00 100 100 00 j 100 100 00 “ 1 100 100 00 i 100 loo 00 “ ! 100 100 00 u i 100 100 00 u 100 100 00 a 100 100 00 it 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 U 100 100 00 u 100 100 00 u 100 100 00 it 100 100 00 ii 100 100 00 a 100 100 00 a 100 100 00 cc 100 100 00 a 100 100 00 u ward, $198,002 50 $4,297 50l oer. 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 TABLE III. — (Continued.) 69 Carried Bonds due in 1856 . Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. | $198,002 50 i 100 00 ; Scrip, 100 00 100 00 u 100 00 ii 100 00 “ 1 100 00 ll i 100 00 u 1 1 100 00 il 1 100 00 i 100 00 u 100 00 “ 100 00 u 100 00 il 100 00 100 00 “ 100 00 100 00 100 00 “ 100 00 100 00 100 00 100 00 100 00 100 00 100 00 “ ) 100 00 u ) 100 00 “ ) 100 00 “ ) 100 00 u ) 100 00 a ) 100 00 u ) 100 00 “ ) 100 00 u 3 100 00 n 3 100 00 (i 3 100 00 “ 3 100 00 u 3 100 00 u 3 100 00 u 3 100 00 li j 0 100 00 0 ’ 100 00 “ 0 100 00 ll 0 100 00 ll 0 100 00 0 100 00 “ 0 100 00 “ 0 100 00 ll 0 100 00 “ 0 100 00 u 0 100 00 0 100 00 “ 0 100 00 1 « 0 100 00 1 “ 0 100 00 1 0 100 00 1 “ 0 100 oo 1 ‘'• .0 100 oc ( “ lO 100 oc 1 “ lO 100 oc 1 “ 10 100 oc ► “ 10 100 oc ) “ 10 100 oc ) “ 10 100 oc ) “ , $204,402 6( ) Amount of Discount. Remarks. ^ard, $100 100 100 100 $4,297 50 br ward, $4,297 50. <40C 237 23 ^ 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 1 294 295 1 296 1 297j 298 TABLE ni. — (Continued.) Bonds due in 1856. Desig- nation. Proceeds. Mode of Pajm’t. By whom Negociated. Amount 1 of 1 Discount. ward, S204.402 50 ^ $4,297 50 $100 100 oo' Scrip, i 100 100 00 u 100 100 00 » 1 100 100 00 “ i 100 100 00 u 1 100 100 00 i “ 100 100 00 i 100 100 00 1 “ 1 100 100 00! “ 100 100 oo! “ i 100 100 00 1 100 100 00 1 LL \ 1 100 100 00 100 100 00 u 1 100 100 00 1 100 100 00 u ! 100 100 00 a 1 100 100 00 ! 100 100 00 100 100 00 u 100 100 00 100 100 00 u 100 100 00 100 100 00 100 100 00 it 100 100 00 u 100 100 00 u 100 100 00 u i 100 100 00 u 100 100 00 u 100 100 00 u 100 100 001 100 100 00 u 100 100 00 u 100 100 00 100 100 ool u 100 100 oo! u 100 100 00 u 100 100 ool u 100 100 00' u 100; 100 00| j lOOi 100 oo' 1 100 100 oo' 1 100 100 00 100 100 00 100 100 00 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 100 100 00 “ i 100 100 00 “ 1 100 100 00 U I 100 100 OOi 1 100 100 ooi “ ! 100 100 00 U ' 100 100 00 ii j 100 100 oo' u j 100 100 00| U ' 1 100 100 OOj LL 1 t I 100 100 00; 1 i 100 100 00 u 1 I 100 100 00 (C 100 100 OOj 1 “ 1 1 vard, ! $210,802 5o[ $4,297 5o' Kemarks. TABLE III. — (Continued.) 71 Bonds due in 1856 . Number. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Remarks. Brought for ward, $210,802 50 $4,297 50 299 Paid out, . . $100 100 00 Scrip. 800 100 100 00 44 301 U 100 100 00 : 302 (( 100 100 00 ' 303 U 100 100 00 ‘‘ 304 u 100 100 00 4b j 305 u 100 100 00 “ i 306 (4 100 100 00 307 100 100 00 1 308 100 100 00 309 100 100 00 “ 310 U 100 100 00 311 100 100 00 44 312 U 100 100 00 313 u 100 100 00 44 314 u 100 100 00 315 u 100 100 00 316 u 100 100 00 317 u 100 100 00 44 1 318 « 100 100 00 44 319 U 100 100 00 320 (4 100 100 00 “ 321 44 100 100 00 “ 322 44 100 100 00 “ 323 44 100 100 00 , 44 324 44^ 100 100 00 “ 325 44 100 100 00 j 326 44 100 100 00 “ 327 44 100 100 00 i 328 44 100 100 00 a 329 44 100 100 00 330 44 100 100 00 1 331 44 100 100 00 a 332 44 100 100 00 “ 333 44 100 100 00 u 334 44 100 100 00 335 44 100 100 00 u 336 44 100 100 00 “ 337 44 100 100 00 “ 838 44 loo 100 00 “ 339 44 100 100 00 i 340 44 loo 100 00 1 341 44 loo 100 00 u 342 44 loo 100 00 “ 343 44 100 100 00 344 44 loo 100 00 “ 345 44 loo 100 00 a 1 346 44 loo 100 00 u 1 347 44 loo 100 00 348 44 loo 100 00 “ 1 349 44 loo 100 00 350 44 loo - 100 00 u 351 44 loo I 100 00 352 loo 1 100 00 1 353 44 loo 1 100 00 1 “ i 354 44 loo 1 100 00 1 “ 355 loo 1 100 00 1 “ 356 1 “ loo 1 100 oo 1 “ 357 100 ( • 100 00 1 » 358 ! “ loc 1 100 oc ) “ 35S \ loc 1 100 oc 1 “ 1 36C 1 IOC » 100 oc » “ ' 361 44 loc ) 100 oc ) “ ' 862 ! IOC 1 100 oc ) “ 1 Carried foi • ward. 1 $217,202 5C ) 1 $4,297 6( )l iDer. 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421 422 423 424 425 426 TABLE m. — (CoNTiJiUED.) Bonds due in 1856 . Carried for Desig- nation. Proceeds. Mode of Paym’t. By whom Negotiated, Amount of Discount. Remarks. §217,202 50 $4,297 50 i 1 §100 'lOO 00 Scrip, 100 100 00 100 100 00 u 100 100 00 100 100 00 1 100 100 00 u 1 100 100 00 u 100 100 00 i; i 100 100 00 u 100 100 00 u 100 100 oc u 100 100 00 u 100 100 00 u 100 100 00 “ 1 100 100 00 “ 100 100 00 “ 100 100 00 “ 100 100 00 » 100 100 00 “ 100 100 00 u 100 100 00 u 1 j 100 100 00 j ! 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 “ 1 100 100 00 100 100 00 100 100 ool 100 100 ooj i “ i 1 100 100 00| i ' 100 1 100 100 00' 100 100 OOl 100 100 00 1 100 100 00 a j 100 100 00 100 100 00 I 100 100 00 i 100 100 00 1 ‘‘ 100 100 00 i 100 100 00 i u ! 1 i 100 100 00 U 1 ! 1 1 100 100 00 I 100 100 00 “ 1 1 100 100 00 1 ti 100 100 00 “ 100 100 00 ! 100 100 00 1 100 100 00 1 100 100 00 u 100 100 00 u 100 100 00 a i 100 100 00 ! 100 100 00 100 100 00 1 100 100 00 “ 100 100 00 - 100 100 00 “ 100 100 00 “ 100 100 00 1 100 100 00 'ward, §223,502 50 §4,297 5o| oer. 427 428 429 430 431 432 433 434 435 436 437 438 439 440 441 TABLE HE. — (CoKTiNUED.) 78 Bonds due in 1856 . Desig- nation. Mode of Paym’t, By whom Negociated. Amount of Discount. Remarks. rard. $223,502 50 . $100 100 00 s 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 - 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 100 00 100 , 100 00 100 , 100 00 100 1 100 00 100 1 100 00 IOC 1 100 00 IOC 1 100 00 IOC ) 100 00 IOC ) 100 00 IOC ) 100 00 IOC ) 100 00 10( ) 100 00 'ward, 1 $229,902 50 Scrip, $4,297 50 $4,297 50 iDer. 491 492 493 494 495 496 497 498 499 500 501 502 503 504 505 506 507 508 509 510 511 512 513 514 515 516 517 518 519 520 521 522 523 524 525 526 527 528 529 530 531 532 533 534 535 536 537 538 539 540 541 542 543 544 645 646 347 548 649 650 651 552 653 654 TABLE ni. — (Continued.) Bonds due in 1856 . Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negotiated. Amount of Discount. Remarks. $229,902 50 $4,297 50 Paid out, . . $100 100 00 Scrip, 100 100 00 44 (( 100 100 00 44 U 100 100 00 44 U 100 100 00 44 u 100 100 00 44 u 100 100 00 44 u 100 100 00 “ “ 100 100 00 “ u 100 100 00 44 u 100 100 00 “ 100 100 00 44 (( 100 100 00 44 100 100 00 44 100 100 00 » u 100 100 00 u 100 100 00 44 u 100 100 00 “ u 100 100 00 44 u 100 100 00 44 (C 100 100 00 “ cc 100 100 00 44 u 100 100 00 44 u 100 100 00 44 u 100 100 00 “ u 100 100 00 44 u 100 100 00 100 100 00 44 (( 100 lOO 00 (( 100 100 00 44 100 100 00 44 u 100 100 00 44 u 100 100 00 44 iC 100 100 00 44 u 100 100 00 44 u 100 100 00 44 100 100 00 44 (C 100 100 00 44 u 100 100 00 44 100 100 00 it (C 100 100 00 44 u 100 100 00 it iL 100 100 00 it C£ 100 100 00 44 u 100 100 00 44 ii 100 100 00 44 u 100 100 00 44 u 100 100 00 44 u 100 100 00 44 100 100 00 it u 100 100 00 it (( 100 100 00 it u 100 100 00 44 a 100 100 00 44 100 100 00 44 u 100 100 00 44 u 100 100 00 it u 100 100 00 it u 100 100 00 44 (4 100 100 00 44 44 100 100 00 44 44 100 100 00 44 44 100 100 00 44 44 100 100 00 44 Carried for ward, $236,302 50 $4,297 50 iber. 555 1 556 557 558 559 560 561 562 563 564 565 566 567 568 569 570 5711 5721 573j 5741 6751 576 ^ 5771 678, 679 580 681 582 i 683! 6841 685 686 587 688 589 590 691 ■592 593 694 595 596 697 698 599 600 601 602 603 604 605 606 607 608 609 610 611 612 613 614 615 616 617 618 TABLE III. — (Continued.) 75 Bonds due in 1856 . Desig- nation. Proceeds. Mode of Paym’t. By whom Negotiated. $236,302 50 100 00 $100 Scrip, 100 100 00 u 100 100 00 u 100 100 00 100 100 00 u 100 100 00 100 100 00 100 100 00 ii 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 ii 100 100 00 100 100 00 100 100 00 a 100 100 100 00 u 100 100 00 u 100 100 00 a 100 100 00 100 100 00 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 a 100 100 00 100 100 00 100 100 00 u 100 100 00 u 100 100 00 it 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 a 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 a 100 100 00 100 100 00 100 100 00 u 100 100 00 a 100 100 00 u 100 100 00 u 100 100 00 1 u 100 100 00 100 100 00 a 100 100 00 a 100 100 CM) a 100 100 00 u 100 100 00 a 100 100 00 a 100 100 00 a 100 100 00 ii 100 100 00 il 100 100 00 a 100 100 00 100 100 00 (( 100 1 100 00 (( 100 1 100 00 no AO £if\0 a ward, ou Amount of Discount. Bemarks. $4,297 60 ( $4,297 60 loer. 619 620 621 622 623 624 625 626 627 628 629 630 631 632 633 634 635 636 637 638 639 640 641 642 643 644 645 646 647 648 649 650 651 652 653 654 655 656 657 658 659 660 661 662 663 664 665 666 667 668 669 670 671 672 673 674 675 676 677 678 679 680 681 682 TABLE m. — (Continued.) Bonds due in 1856 . ward, $100 100 loa 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 loo loo 100 100 100 100 Carried foriward, Desig- nation. Proceeds. Mode of Paym't. By whom Negociated. Amount of Discount. Remarks. $242,602 50 $4,297 50 'lOO 00 Scrip, 100 00 100 00 u 100 00 “ 100 00 u 100 00 u 100 00 u 100 00 u 100 00 u 100 00 u 100 00 u 100 00 <( 100 00 “ 100 00 “ 100 00 “ 100 00 100 00 100 00 “ 100 00 u 100 00 u 100 00 u 100 00 “ 100 00 u 100 00 u 100 00 100 00 100 00 100 00 100 00 u ! 100 00 u 100 00 a 100 00 u 100 00 u 100 00 u 100 00 ii 100 00 100 00 it 100 00 it 100 00 u 100 00 it 100 00 u 100 00 a 100 00 ii 100 00 u 100 00 u 100 00 u 100 00 u 100 00 ii 100 00 ii 100 00 ii . 100 00 ii 100 00 u 100 00 u 100 00 it 100 00 ii 100 00 it 100 00 ii 100 00 (( 100 00 u 100 00 ii 100 00 ii 100 00 ii 100 00 u 100 00 u $249,002 50 $4,297 50 ' TABLE ni. — (Continued.) 77 Bonds due in 1856 . Number. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Kemarks. $249,002 50 $4,297 50 683] Paid out, . . $100 100 00 Scrip, 684 U 100 100 00 685 it 100 100 00 ii 686 u 100 100 00 ii 687 u 100 100 00 ii 688 a 100 100 00 689 a 100 100 00 ii 690 a 100 100 00 ii 691 ii 100 100 00 ii 692 ii 100 100 00 693 u 100 100 00 u 694 u 100 100 00 695 ii 100 100 00 696 ii 100 100 00 697 ii 100 100 00 698 (( 100 100 00 699 ii 100 100 00 700 ii 100 100 00 701 ii 100 100 00 702 ii 100 100 00 703 ii 100 100 00 704 ii 100 100 00 705 ii 100 100 00 706 ii 100 100 00 707 ii 100 100 00 708 ii 100 100 00 709 ii 100 100 00 it 710 Filed, 100 711 100 712 ii 100 713 Paid out, . . 100 100 00 ii 714 a ’ 100 100 00 it 715 ii 100 100 00 (( 716 ii 100 100 00 ii 717 Filed, 100 718 ii 100 719 Paid out, . . 100 100 00 ii 720 a 100 100 00 ii 721 a 100 100 00 ii 722 a 100 100 00 ii 723 a 100 100 00 ii 724 a 100 100 00 725 (( 100 100 00 726 a 100 100 00 (C 727 ii 100 100 00 728 a 100 100 00 ii t 729 a 100 100 00 ii 1 730 a 100 100 00 j 731 a 100 100 00 (( I 732 a 100 100 00 ii 1 733 a 100 100 00 1 ! 734 a 100 100 00 1 i 735 a 100 100 00 1 “ 736 1 100 1 100 oo 1 “ 1 737 u 100 1 100 oc 1 “ i 73S i “ 100 1 100 oc 1 “ j 73£ 1 “ lOO 1 100 oc ) “ 74( ) “ lOO f 100 oc ) 741 L IOC ) 100 oc ) “ 745 1 “ IOC ) 100 oc ) “ 74J 5 “ IOC ) 100 oc ) “ 74^ 1 “ IOC ) 100 oc ) “ 74i ) “ IOC ) 100 oc ) “ 74( 3 “ 10( ) 100 0( ) “ — 1 $4,297 6C )| 1 Carried fo: r ward, ^254, 0\ aoer. 747 748 749 750 751 752 753 754 755 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 774 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 790 791 792 793 794 795 796 797 798 799 800 801 802 803 804 805 806 807 808 809 810 TABLE III. — (Continued.) Bonds due in 1856 . Desig- nation. Proceeds. Mode of Paym’t. By whom Negotiated. Amount of Discount. ward, $254,902 50 $4,297 60 $100 100 00 Scrip, 100 100 00 “ 100 100 00 u 100 100 00 100 100 00 100 100 00 u 100 100 00 u 100 100 00 100 100 00 u 100 100 00 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 j 100 100 00 (( 100 100 00 ! 100 100 00 100 100 00 u 1 j 100 100 00 u ! 100 100 00 100 100 00 i 100 100 00 a 100 100 00 u 100 100 00 u 1 100 100 00 1 100 100 00 u 100 100 00 loo; 300 00 u 100 100 00 u 100 100 00 100 100 00 ti 100 100 00 ii 100 100 00 u 100 100 00 u 100 100 00 (( 100 100 00 u 100 100 00 u 100 100 00 100 100 00 u 100 100 00 (C 100 100 00 100 100 00 II 100 100 00 100 100 00 (( 100 100 00 u 100 100 00 u 100 100 00 u 100 100 00 100 100 00 100 100 00 u 100 100 00 ii 100 100 00 a 100 100 00 100 100 00 ii 100 100 00 ii 100 100 00 ii 100 100 00 iL 100 100 00 100 100 00 u 100 100 00 it 100 100 00 100 100 00 100 100 00 u 100 100 00 u ! ward, $261,302 60 \ $4,297 50 TABLE in. — (Continued.) 79 Bonds due in 1856 . Desig- 1 Mode By whom Amount Number. Disposition, 1 Proceeds. of of ration. I ’aym’t- Negociated. Discount. Brought for -v ^aid out, . . vard. $261,302 50 . $4,297 50 811 $100 100 00 8 scrip. 812 ii 100 100 00 813 U 100 100 00 u 814 a 100 100 00 u 815 (( 100 100 00 “ 816 u 100 100 00 “ 817 u 100 100 00 818 (( 100 100 00 “ 819 (( 100 100 00 820 u 100 100 00 il 821 “ 100 100 00 ll 822 “ 100 100 00 “ 823 u loo 100 00 “ 824 “ 100 100 00 “ 825 u 100 100 00 (( 826 u 100 100 00 “ 827 u 100 100 00 ll 828 u loo 100 00 ll 829 u 100 ; 100 00 “ 830 u 100 100 00 (( 831 u 100 100 00 832 (t 100 100 00 ll 833 100 100 00 ll 834 loo 100 00 ll 835 100 100 00 ll 836 “ 100 100 00 “ 837 “ loo 100 00 838 ‘1 loo 100 00 “ 839 loo 100 00 ll 840 « loo 100 00 ll 841 u 100 100 00 il 842 u loo 100 00 ll 843 u loo 100 00 ll 844 ll loo 100 00 ll 845 ii 100 100 00 ll 846 u loo 100 00 ll 847 il loo 100 00 ll 848 (( 100 100 00 ll 849 (( 100 100 00 850 (( loo 100 00 u 851 u loo 100 00 “ 852 (( 100 100 00 “ 853 1 u 100 100 00 854 a 100 1 100 00 1 855 i “ loo 1 100 00 1 “ 856 1 II loo 1 100 00 1 » 857 100 1 100 oc 1 “ 858 ! “ loo t 100 oc 1 “ 858 ) “ IOC 1 100 oc 1 “ 86( ) “ loc 1 100 oc ) “ 86] L “ loc » 100 oc ) “ 868 5 “ IOC ) 100 oc ) “ 868 86^ 5 “ t Sold, loc 1 Af ) 100 oc ^ QA Of ) “ ) Stock, G W Benedict, 4 00 ) yo vl 4 00 868 j “ loc ) 96 0( ) “ « 86( 3 Paid out, . , 10( ) 100 0( ) Scrip, 86' r “ 10( ) 100 0( 3 “ 861 B “ 10( ) 100 0( 3 “ 861 9 “ 10( 3 100 0( 3 “ 87' 0 “ 10( 3 100 01 3 “ 87 1 » 101 3 100 O' 3 “ 87 2 “ 10' 0 100 O' 3 “ 87 3 “ 10 0 100 O' 0 “ 87 4 “ 10 o o o o 0 “ 1 Carried fo ir ward, , $267,694 6 1 $4,306 60 Remarks. { Rec. pay’t. In Vt, & Boston Telepi’h Stock now on hand. 80 TABLE in. — (Continued.) Bonds due in 1856 . Number. Disposition. Desig- nation. Proceeds. Mode of Paym’t By whom Negociated. Amount of Discount. Eemarks. $267,694 5C 1 $4,305 5( ) 87c Paid out, . $10C 'lOO oc )' Scrip, 876 IOC 100 oc “ 877 u IOC 100 oc “ 878 “ IOC 100 oc “ 879 “ IOC 100 oc “ 880 IOC 100 oc “ 881 IOC 100 oc 882 U lOO 100 oc “ 883 U 100 100 oo 1 884 U 100 100 00 885 “ 100 100 00 “ 886 “ 100 100 00 887 “ 100 100 00 888 (C 100 100 00 889 u 100 100 00 u 890 a 100 100 00 “ 891 “ 100 100 00 “ • 892 u 100 100 00 “ 893 “ 100 100 00 a V 894 (( 100 100 00 895 (C 100 100 00 » 896 u 100 100 00 “ 897 u 100 100 00 tt 898 u 100 100 00 tt 899 a 100 100 00 tt 900 100 100 00 901 a 100 100 00 it 902 u 100 100 00 it 903 100 100 00 tt 904 100 100 00 it 905 Sold, 100 87 00 Cash, Willis & Co 13 00 906 Paid out, . . 100 100 00 Scrip, 907 100 100 00 908 (( 100 100 00 (( 909 u 100 100 00 tt 910 it 100 100 00 it 911 u 100 100 00 tt 912 u , 100 100 00 tt 913 a 100 100 00 tt 914 a 100 100 00 it 915 u 100 100 00 it 916 it 100 100 00 tt 917 u 100 100 00 » 918 u 100 100 00 it 919 u 100 100 00 it 920 it 100 100 00 it 921 it 100 100 00 it 922 u 100 100 00 it 923 it 100 100 00 tt 924 it 100 100 00 it 925 a 100 100 00 926 tt 100 100 00 it 927 it 100 100 00 it 928 tt 100 100 00 it 929 tt 100 100 00 it r 930 it 100 100 00 it 931 tt 100 100 00 it 932 100 100 00 it 933 100 100 00 it ' 934 (( 100 100 00 tt 935 it 100 100 00 tt 936 ) to > On hand, 100 1189 ) Carried for ^ svard, $273,781 50 $4,318 50 TABLE in. — (Continued.) 81 Bonds due in 1856. Number. Disposition. Desig- nation. Proceeds. Mode of Payin’t. i By whom Negotiated. Amount of Discount. Remarks. 1190 1191 1192 to 1792 No No’s No No’s Brought for Filed, Missiug, . . . > Burnt, . . Burnt, . .'. . On hand, . . ward, $100 100 100 100 100 i $273,781 50 I $4,318 50 ( Missing, ) signed b}' the j President t only, however 188 Bonds. 1357 Bonds. 1 $273,781 50 $4,318 50 A CONDENSED STATEMENT CONCERNING THE BONDS DUE IN 1856. The Bonds of 1856 were issued in 1850 for the purpose of relieving the Company from paying cash dividends to the Stockholders, and were not intended for sale, or to be used as Collateral. A considerable portion of them have been applied to the purposes intended, but some also have been sold, and some used as Collateral. The Ledger Account of these Bonds differed from the actual state of the Bond Account, in the following respects, viz : Nos. 2089, for $300, and 396, for $100, had been returned, after their sale, in part exchange for No. 2416, for $500, cash being paid for the balance of $100. Also, No. 2451, for $500, had been sold. No entries of either of these transactions appeared upon the “ Record ” of the 1856 Bonds. No. 905, for $100, was twice entered as sold. These errors have now been rectified. Of the Bonds sold the following is a statement : — $4,200 at 2 per cent 2.000 “ 7f “ “ 1.000 “ 8 “ “ 2.000 “ 84 “ “ 11.000 “ 9 | “ “ 15.000 “ 10 “ “ 6.000 “ 12 “ “ 2.000 “ 124 » 100 “ 13 “ “ 1.000 “ 25^ “ “ dis., to G. W. Benedict, for Vt. and Boston Telegrajih Stock. “ “ Stephen Brown & Sons. “ “ James C. Dunn. u u u “ it a u “ a u for Vermont ^ alley IbillroaOlo,ODo 4 O Amount of Discount. $79,841 25 150 00 150 00 150 00 150 00 150 00 150 oo; 150 ool 150 00| 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 160 00 160 00 150 00 160 00 160 00 . $80,441 26 Remark*. iDer. 742 743 744 745 746 747 748 749 750 751 752 753 754 755 756 757 758 759 760 761 762 763 764 765 766 767 768 769 770 771 772 773 774 775 776 777 778 779 780 781 782 783 784 785 786 787 788 789 790 791 792 793 794 795 796 797 798; 799 i 800' 801 802' 803 804! 805' TABLE III. — (CoxTiNUED.) Mortgage Bonds due in 1861 . Desig- nation . Proceeds. 1 Mode 1 ^ i Paym t. whom Negotiated. Amount of 1 Discount. $518,558 75 850 00 i 1 1 I $89,441 25 150 00 i $1000 Cash, J. E. Thayer & Bro. . . 1000 850 00 “ 150 00 1000 850 00 n ii 150 00 1000 850 00 n a 150 00 1000 850 00 ll a 150 00 1000 865 00 u T. H. Leavitt, 135 00 1000 872 50 u ,1. C. Dnnn, 127 50 1000 872 50 a 127 50 1000 872 50 u n 127 50 1000 872 50 “ “ 127 50 1000 872 50 “ 127 50 1000 872 50 (( 127 50 1000 872 50 “ “ 127 50 1000 872 50 “ ii 127 50 1000 872 50 “ “ 127 50 1000 872 50 “ a 127 50 1000 857 50 “ G. W. Pritchard, 142 50 1000 867 50 u J. C. Dunn, 132 50 1000 867 50 “ 132 50 1000 867 50 132 50 1000 867 50 “ 132 50 1000 867 50 132 50 1000 867 50 “ 132 50 1000 867 50 it “ 132 50 1000 867 50 a 132 50 1000 867 50 u “ 132 50 1000 867 50 it “ 132 50 1000 867 50 it it 132 50 1000 867 50 ii 132 50 1000 850 00 it L. N. Barnard, 150 00 1000 850 00 ii J. R. Langdon, 150 00 1000 850 00 it 150 00 1000 850 00 ii “ 150 00 1000 850 00 ii ‘‘ 150 00 1000 850 00 ii “ 150 00 1000 850 00 ii Jotham Bush, 150 00 1000 850 00 it 150 00 1000 850 00 ii 150 00 1000 850 00 ii 150 00 1000 850 00 a I. KendaU, 150 00 1000 850 00 it “ 150 00 1000 850 00 “ 150 00 1000 850 00 a “ 150 00 1000 850 00 ii it 150 00 1000 867 50 ii J. C. Dunn, 132 50 1000 867 50 ii ii 132 50 1000 867 50 ii ii 132 50 1000 867 50 ii 132 50 1000 867 50 a 132 50 1000 867 50 a ii 132 50 1000 867 50 a 132 50 1000 867 50 ii ii 132 50 1000 867 50 a T. H. Leavitt, 132 50 1000 867 50 a “ 132 50 1000 867 50 ii Thomas Day, 132 50 1000 867 50 ii T. H. Leavitt, 132 50 1000 867 50 a “ 132 50 1000 867 50 Thomas Day, 132 50 1000 867 50 a 132 50 1000 867 50 a “ 132 50 1000 867 50 it it 132 50 1000 867 50 ii J. C. Dunn, 132 50 1000 867 50 it u ’ 132 50 1000 867 50 ii ii 132 50 iward, $573,766 25 $98,233 75 iDer. 806 807 808 809 810 811 812 813 814 815 816 817 818 819 820 821 822 823 824 825 826 827 828 829 830 831 832 833 834 835 836 837 838 839 840 841 842 843 844 845 846 847 848 849 850 851 852 853 854 CKK TABLE in. — (Continued.) 93 Mortgage Bonds due in 1861 . Desig- Proceeds. Carried for nation. vard, $573,766 25 $1000 867 50 1000 867 50 1000 867 50 1000 857 50 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 850 00 1000 860 50 1000 860 50 1000 860 50 1000 860 50 1000 860 50 1000 860 50 1000 867 50 1000 867 50 1000 867 50 1000 867 50 1000 867 50 1000 867 50 1000 867 50 1000 857 50 1000 857 50 1000 857 50 1000 857 50 1000 860 00 1000 867 50 1000 857 50 1000 857 50 1000 857 50 1000 850 00 1000 I 900 00 1000 1 900 00 ward, $628,591 75 Mode of Paym’t.l Cash, a u u a u u u a a u u u a u u u n ii u u u u u u ii u (( u u (( u u iC u u u u (( u u (( u u By whom Negotiated. J. C. Dunn, U J. Lamson, J. E. Thayer & Bro. a U U u a u a u IL William Parsons, . ii U U T. H. Leavitt, J. C. Dunn, . H Isaac Allen, . . . .Toel Bass, C. Baxter, G. W. Benedict, .1. 0. Dunn, . . . J. I). Campbell, 1). Carpenter, . . J. Farwell, J. P. Felt, Royal Hatch, . . Amount of Discount. . $98,233 75 132 50 132 50 132 50 142 50 150 00 150 00 150 00 150 00 150 00 150 00 150 09 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 150 00 139 50 139 50 139 50 139 50 139 50 139 50 132 50 132 50 132 50 1.32 50 132 50 132 50 132 50 142 50 142 50 142 50 142 50 140 00 132 50 142 50 142 50 142 50 150 00 100 00 100 00 $i 107,408 25 I Remarks. 94 TABLE m. — (COXTLN'UED.) Mortgage Bonds due in 1861 . Number. Disposition. Desig- nation. Proceeds. Mode of i Paym’t. By whom Negociated. 1 Amount of Discount. 1 Remarks. $628,591 75 $ 107,408 25^ 870 Sold $1000 900 00 Cash, Fred. Smith, 100 ooj 871 1000 850 00 Elijah Hale, ' 150 00 872 1000 850 00 a E. H. Hemmenway, . , 150 00 873 (( 1000 850 00 “ it 150 00 874 1000 850 00 U 150 00 875 1000 850 00 “ ti 1.50 00| 876 “ 1000 867 50 a J. C. Dunn, i 132 5o; 877 1000 850 00 “ H. Homer, 1-50 00| 878 1000 850 00 “ 150 00 879 1000 865 00 “ T. B. Pope, 1 135 00 880 1000 865 00 “ 135 00 881 1000 865 00 “ “ ! 135 00 882 1000 857 50 L. Hntchins, 1 142 50 883 1000 857 50 “ George Lincohi, j 142 50 884 Im 1000 850 00 George Phipps, ' 150 00 885 a 1000 850 00 150 00 886 u 1000 850 00 •John Porter, i 150 00 88^ 1000 857 50 it 142 50 888 1000 857 50 u “ 1 142 50 889 1000 857 50 “ 142 50 890 1000 850 00 it Josh. Porter i 150 00 891 “ 1000 85 1 dO “ H. H. Kevnolds, j 142 50 892 1000 857 50 “ Z. Shattiick, 142 50 893 a 1000 857 50 u “ 142 50 894 li 1000 857 50 it 142 50 895 a 1000 857 50 •J. C. Walklev, 142 50 896 u lOOOj 860 50 ii William Thomas, . . . . i ! 139 50 897 1000, 860 50 ii 139 50 898 loool 850 50 it 1 139 50 899 1000; 857 50 ii E. Nve, Jr 142 50 900 1000' 857 50 « P. Perrin i 142 50 901 1000 857 50 ii i 142 50 902 1000 855 00 D. French, 2nd, 145 00 903 u 1000 856 25 (( 1 “ , 143 75 904 “ 1000 857 50 u William Ashler, j 142 50 905 (( 1000 867 50 (( J. C. Dunn,. ( 132 50 906 (( 1000 867 50 t( 1 132 50 907 1000 867 50 ii “ ! 132 50 908 1 lOOOi 867 50 ii ii 132 50 909 1 1000 867 50 it 132 50 910 1 loooi 867 50 ti u 132 50 911 u 1000 867 50 ii 132 50 912 it lOOOi 867 50 ii 132 50 913 ti 1000 1 867 50 ii 132 50 914 it looo: ! 867 50 ii 132 50 915 1000 867 50 ti n 132 50 916 1000: , 865 00 it T. B. Pope, 135 00 917 lOOOj 1 865 00 ti 135 00 918 a 1000 ! 865 00 ti ti 135 00 919 loooi 1 865 00 ii it 135 00 920 1000 865 00 ti ii 135 00 921 it 1000 1 850 00 ii F. Skinner, 150 00 922 it 1000 850 00 it it 150 00 923 it 1000 850 00 it “ 150 00 924 it 1000 850 00 a ii j 150 00 925 1000 850 00 ii “ 1 150 00 926 1000 850 00 it “ 1 150 00 927 1000 850 00 ti « 1 150 00 928 1000 850 00 “ 150 00 929 ti 1000 850 00 ti “ j 150 00 930 a 1000 850 00 a 1 150 00 931 a 1000 850 00 a 1 150 00 932 ti 1000 850 00 a it 1 150 00 933 a 1000 850 00 ii “ 1 150 00 Carried for ward, i $683,519 50 116,480 50 Der. 934 935 936 937 938 939 940 941 942 943 944 945 946 947 948 949 950 951 952 953 954 955 956 957 958 759 960 961 962 963 964 965 966 967 968 969 970 971 972 973 974 975 976 977 978 979 980 981 982 983 984 QBK TABLE III. — (Continued.) 95 Mortgage Bonds due in 1861 . Desig- nation* Proceeds. Mode of Paym’t. By whom j Negociated. | Amount of Discount. ward, $1000 $683,519 50 850 00 $ 116,480 50 150 00 Cash, F. Skinner, 1000 850 00 “ “ 150 00 1000 850 00 a It 150 00 1000 850 00 u 150 00 1000 850 00 u “ 150 00 1000 850 00 a 150 00 1000 850 00 150 00 1000 857 50 142 50 1000 857 50 a “ 142 50! 1000 857 50 it 142 50i 1000 857 50 ii 142 50 1000 857 50 u 142 50 1000 857 50 u 142 50 1000 857 50 u “ 142 50 1000 857 50 u ii 142 50 1000 857 50 a “ 142 50 1000 857 50 u “ 142 50 1000 875 00 J. C. Dunn, 125 00 1000 875 00 u “ 125 00 1000 875 00 u “ 125 00 1000 875 00 u 125 00 1000 875 00 (( “ 125 00 1000 875 00 u ii 125 00 1000 875 00 u ii 125 00 1000 875 00 u “ 125 00 1000 875 00 “ 125 00 1000 875 00 u “ 125 00 1000 875 00 ;; “ 125 00 1000 875 00 u u 125 00 1000 875 00 u “ 125 00 1000 875 00 “ 125 00 1000 875 00 u it 125 00 1000 875 00 ii Joseph Souther, 125 00 1000 857 50 u W. H. Ordway, 142 50 1000 857 50 u J. Wheeler, 142 50 1000 857 50 u “ 142 50 1000 857 50 u ii 142 50 1000 857 50 u “ 142 50 1000 857 50 u a 142 50 1000 857 50 u Wm. Gilson, J. E. Thayer & Bro. . . 142 50 1000 850 00 u 150 00 1000 850 00 it it 150 00 1000 850 00 it 150 00 1000 850 00 ii “ 150 00 1000 850 00 u “ 150 00 1000 850 00 u “ 150 00 1000 850 00 a 150 00 1000 850 00 u “ 150 00 1000 850 00 u “ 150 00 1000 850 00 (( a 150 00 1000 850 00 (( it 150 00 1000 850 00 u “ 150 00 1000 850 00 ii “ 150 00 1000 850 00 “ 150 00 1000 850 00 ii “ 150 00 1000 850 00 ii “ 150 OOi 1000 850 00 a it 150 00| 1000 850 00 a “ 150 00 1000 850 00 ii “ 160 00 1000 850 00 it “ 150 00 1000 850 00 a “ 150 00 1000 850 00 ii “ 150 00 1000 850 00 ii it 150 00, 1000 850 00 “ it 150 001 $738,447 00 $ 126,553 00 Remarks. Carried fori ward, 991 lOOi lOo: 100 ! loo; 100 - 100 ; 100 ( loo; 100! 100! lOK 101 ] lOlS lOli 101 . 101c loie 101 / lOlJ 101 ! 102C 102] 1022 102S 1021 1025 1026 1027 1028 1029 1030 1031 1032 1033 1034 1035 1036 1037 1038 1039 1040 1041 1042 1043 1044 1045 1046 1047 1048 1049 1050 1051 1052 1053 1054 1055 1056 1057 1058 1059 1060 TABLE in. — (Continued.) Mortgage Bonds due in 1861 . Desig- nation. Proceeds. 1 Mode : of Paj’m’t 1 By whom . Negociated. Amount of Discount. ward, $738,447 0( )' s ; 125,553 00 SIOOC 850 0( ) Cash, J. E. Thayer & Bro. . . 150 00 100( 850 0( ) “ i “ 150 00 100( 850 0( ). “ 1 150 oo; 100( * 850 0( ^ “ t 150 00' lOOC 850 0( ) “ I 150 00 i 50C ! 425 0( ) “ Wales Lewis, 1 75 00 50C 428 7c |J. Chapman, 71 251 500 425 OC )] “ ‘James Dennie, 75 00 500 428 7c |H. Humphreys, 71 25, 500 428 7c • ^ LL 71 25! 500 428 7o ,1 “ M. Thatcher, 71 25, 500 428 75 “ 71 25; 500 428 75 1 “ “ 71 25i 500 425 00 1 Gilbert & Sons, 75 00 j 500 426 25 , “ T. C. Leeds, 73 751 500 426 25 44 73 75| 500 426 25 / 3 / 5 j 500 426 25 44 73 75 500 450 00 50 00 500 450 00 50 001 500 450 00 u 44 50 OOj 500 450 00 u 44 50 00| 500 450 00 (( 50 00| 500 450 00 u 44 50 OOj 500 430 00 ii S. H. Waller, 70 00 500 430 00 ii 44 70 00 500 430 00 44 70 00 500 430 00 44 70 00 500 430 00 u 44 70 00 500 430 00 u 44 70 00 500 430 00 u 44 70 00 500 430 00 44 70 00 500 425 00 u J. Goldsburv, 75 00 500 425 00 William ilcLain, 75 00 500 425 00 u 75 00 500 425 00 u 44 75 00 500 425 00 44 75 00 500 425 00 U 75 00 500 425 00 75 00| 500 425 00 u 44 75 00 500 425 00 44 44 75 00 500 425 00 75 00 ! 500 425 00 75 00 500 425 00 44 75 00 500 425 00 44 44 75 00 500 425 00 44 75 00 500 425 00 44 75 00 500 425 00 44 44 75 00 500 425 00 44 44 75 00 500 425 00 75 50| 500 425 00 44 44 75 00 500 425 00 44 75 00 500 425 00 44 75 00' 500 425 00 44 75 00| 500 425 00 44 75 oo! 500 425 00 44 44 75 00 500 425 00 44 44 75 00 500 425 00 44 44 75 00 500 425 00 44 44 75 00 500 425 00 44 44 75 00 500 425 00 44 44 75 00 500 437 25 44 E. Kimball, 62 75 500 428 75 44 W. G. Pierce, 71 25j card, $767,580 60 $ 130,419 60 Remarks. No. 1061 1062 1063 1064 1065 1066 1067 1068 1069 1070 1071 1072 1073 1074 1075 1076 1077 1078 1079 1080 1081 1082 1083 1084 1085 1086 1087 1088 1089 1090 1091 1092 1093 1094 1095 1096 1097 1098 1099 1100 1101 1102 1103 1104 1105 1106 1107 1108 1109 1110 1111 1112 1113 1114 1115 1116 1117 1118 1119 1120 1121 TABLE III. — (Continued.) 97 Mortgage Bonds due in 1861 . Desig- nation. Proceeds. Mode of Paym’t. ■ard. $767,580 50 $500 428 75 500 428 75 500 435 00 500 435 00 1 500 435 00 500 435 00 500 435 00 500 450 00 500 450 00 500 450 00 500 450 00 500 450 00 500 450 00 500 450 00 500 450 00 500 450 00 500 450 00 500 450 00 500 428 75 500 428 75 500 428 75 500 425 00 500 425 00 500 425 00 500 425 00 600 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 428 75 500 428 75 500 428 75 500 450 00 500 425 00 500 425 00 500 428 75 500 440 00 500 440 00 500 440 00 500 440 00 500 440 00 500 440 00 500 440 00 500 440 00 500 440 00 500 440 00 5001 500 500l 500' 500 440 00 440 00 440 00 425 00 02 ^ 500 425 62i 500 425 62^ 500 425 62^ 500 425 62^ 500 425 62^ ird. $795,.378 03 1 W. G. Pierce, A. C. Ryder, . L. Gulliver, . . J. R. Brackett, By whom Negociated. Amount of Discount. Aaron Blaney, . . , William Bridge, . Henshaw & Sons, T. Battles, Jr. C. M. Dyer, . C. Davenport, , T. M. Edwards, William Gilson, B. Brown, Jr. . . J. Quincy, Jr. $130,419 50 71 25 71 25 65 00 65 00 65 00 65 00 65 00 50 00 50 00 50 00 50 00 50 00 50 00 50 00 50 00 50 00 50 00 50 00 71 25 71 25 71 25 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 71 25 71 25 71 25 60 00 75 00 75 00 71 25 60 00 60 00 60 00 60 00 60 00 60 00 60 00 60 00 60 00 62 00 60 00 60 00 60 00 60 00 74 37i 74 37i 74 37i 74 37i 74 37 i 74 37i $134,622 03 Remarks. 98 TABLE m. — (Continued.) Mortgage Bonds due in 1861 . Desig- Mode By whom Amount No. Disposition. Proceeds. of of Remarks. nation. Paym’t. Negociated. Discount. Brought for ward, $795,378 03 $134,622 03 1125 Cash, J. Quiucy, Jr Sold, §500 425 62^ 74 371 1. 1126 500 425 62i (( u 74 37-J 1127 U 500 425 62i (( it 74 371 1128 U 500 425 62i “ 74 37i 1129 u 500 425 62i iC “ 74 371 1130 500 425 62i U 74 371 1131 ii 500 425 62i “ 74 371 1132 u 500 425 62^ u “ 74 371 1133 u 500 425 62i u (( 74 37i 1134 ii 500 425 62i u (( 74 37i 1135 “ 500 425 62i u “ 74 37i 1136 » 500 425 62i ii n 74 371 1137 n 500 425 62i ii ii 74 371 1138 500 425 62i u u 74 371 1139 500 425 62^ u It 74 371 1140 “ 500 425 62i u “ 74 371 1141 500 425 62i u “ 74 371 1142 500 425 62i It 74 371 1143 ii 500 425 62i “ » 74 371 1144 ii 500 425 62i u (C 74 37i 1145 ii 500 425 62i 74 37i 1146 ii 500 425 62^ “ “ 74 371 1147 500 425 62i » u 74 37i 1148 “ 500 425 62i “ 74 37i 1149 500 425 62i “ 74 37i 1150 U 500 425 62i it 74 371 1151 u 500 425 62i u a 74 371 1152 u 500 425 d2i It 74 371 1153 u 500 425 62i u It 74 371 1154 500 425 62i u It 74 371 1155 500 425 62i u it 74 371 1156 « 500 425 62i ii tt 74 37i 1157 500 425 62J ii tt 74 37i 1158 44 500 425 62i a 74 371 1159 44 500 425 62i ii a 74 37i 1160 44 500 425 62^' 1 it 74 37i 1161 44 500 425 62f ii tt 74 37^ 1162 44 500 425 62i ii tt 74 371 1163 500 425 62^1 ii a 74 37i 1164 « 500 425 62ii ii tt 74 37i 1165 500 425 62i ii it 74 37i 1166 44 500 425 62i' a tt 74 37i 1167 44 500 425 621 ! ii tt 74 37i 1168 ‘‘ 500 425 62^' ii tt 74 37i 1169 44 500 425 62^ ii tt 74 37i 1170 44 500 425 62i' ii tt 74 37^ 1171 500 425 62i: a tt 74 37i 1172 44 500 425 621 a tt 74 37J 1173 44 500 425 621: a tt 74 37^ 1174 44 500 425 621 a tt 74 37i 1175 500 425 62ii a a . 74 37i 1176 500 425 62i; a a 74 37i 1177 500 425 62i a tt 74 37i 1178 500 425 62i ii tt 74 37| 1179 500 425 00 W. C. Hickock, 75 00 1180 44 500 425 00 ii ii 75 00 1181 44 500 425 00 ii ii 75 00 1182 44 500 428 75 ii John Avers, 71 25 1183 500 430 25 ii S. Shaw, 69 75 1184 500 430 25 ii 69 75 1185 500 432 50 a G. K. Sampson, 67 50 1186 500 432 50 it 67 50 1187 500 432 50 ii ii 67 50 1188 500 432 50 ii a 67 50 Carried for. ward, $822,656 00 $139,344 00 Ncs 1189 1190 1191 1192 1193 1194 1195 1196 1197 1198 1199 1200 1201 1202 1203 1204 1205 1206 1207 1208 1209 1210 1211 1212 1213 1214 1215 1216 1217 1218 1219 1220 1221 1222 1223 1224 1225 1226 1227 1228 1229 1230 1231 1232 1233 1234 1235 1236 1237 1238 1239 1240 1241 1242 1243 TABLE III. — (Continued.) 99 Mortgage Bonds due in 1861 . Desig- nation. Proceeds. ward, $500 $822,656 00 432 50 500 432 50 500 432 50 500| 432 50 5001 432 50 5001 500 432 50 428 75 500 428 75 500 428 75 500 432 50 500 432 50 500 432 50 500 432 50 500 432 50 500 432 50 500 432 50 500 432 50 500 432 50 500 432 50 500 432 50 500 425 50 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 428 75 500 428 75 500 428 75 500 428 75 500 428 75 500 428 75 500 425 00 500 425 00 500. 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 425 00 500 500 500 428 75 ward, $849,178 50 Mode of Paym’t. By whom Negociated. Amount of Discount. 1 $139,344 00 67 50 Cash, G. R. Sampson, U 67 50 67 50 67 50 U a 67 50 a 67 50 a A. Edwards, 71 25 “ H. Burton, 71 25 N. Ball, 71 25 a S. H. Walley, 67 50 67 50 a a 67 50 a a 67 50 a 67 50 a a 67 50 a a 67 50 a LL 67 50 u a 67 50 a a 67 50 a it 67 50 a u 67 50 u Acors Barnes, 75 00 a a 75 00 (( W, H. Weaver, 75 00 a a 75 00 u I. Lombard, 75 00 u 75 00 a 75 00 1 (( 75 00 1 a a 75 00 u a 75 00 u a 75 00 U LL 75 00 a 75 00 LL 75 00 a a 75 00 a a 75 00 u AV, L. Williams, 71 25 a 71 25 a a 71 25 a Li 71 25 a Edward Stone, 71 25 a A. Kendrick, 71 25 a Moses Bass, 75 00 a a 75 00 a LL 75 00 a Li 75 00 (( Li 75 00 a a 75 00 u a 75 00 a a 75 00 a Li 75 00 Li a 75 00 a a 75 00 a LL 75 00 a a 75 00 a LL 75 00 a Li 75 00 a 75 00 u G. B. Pierce, 75 00 Li LL 75 00 “ E. Riford, 71 25 $143,821 50 Remarks. Carried for No. 1253 1254 1255 1256 1257 1258 1259 1260 1261 1262 1263 1264 1265 1266 1267 1268 1269 1270 1271 1272 1273 1274 1275 1276 1277 1278 1279 1280 1281 1282 1283 1284 1285 1286 1287 1288 1289 1290 1291 1292 1293 1294 1295 1296 1297 1298 1299 1300 1301 1302 1303 1304 1305 1306 1307 1308 1309 1310 1311 1312 1313 1314 1315 1316 TABLE m. — (Continued.) * Mortgage Bonds due in 1861 . Proceeds. $849,178 50 4.30 25 430 25 425 00 425 00 425 00 425 00 432 50 425 00 425 00 425 00 425 00 425 00 425 00 450 00 428 75 428 75 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 428 75 428 75 428 75 428 75 428 75 428 75 428 75 430 25 430 25 425 00 425 00 425 00 425 00 428 75 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 $876,469 60 Mode of Paym’t. By whom Negotiated. Amount of Discount. $143,821 50 69 75 Cash, . S. Shaw, Li LL 69 75 LL Gilbert & Sons, 75 00 “ 75 00 LL u 75 00 John Smith, 75 00 Jeremiah Fitch, 67 50 I. Lombard, 75 00 Li “ 75 00 H “ 75 00 Li 75 00 LL “ 75 00 LL “ 75 00 Li W. Sanborn, 50 00 Li John Ayers, 71 25 71 25 LL I. Lombard, 75 00 LL 75 00 “ 75 00 “ 75 00 Li K 75 00 Li ti 75 00 LL “ 75 00 Li “ 75 00 Li “ 75 00 LL ti 75 00 “ 75 00 it 75 00 “ 75 00 U “ 75 00 Jason Steele, 71 25 u “ 71 25 a J. W. Converse, 71 25 LL it 71 25 LL It 71 25 LL “ 71 25 LL Jonas Warren, 71 25 LL S. Shaw, 69 75 LL “ 69 75 J. E. Thayer & Bro. . . 75 00 LL 75 00 LL LL 75 00 LL LL 75 00 Daniel Parish, 71 25 J. A. Underwood, .... 75 00 U John Paine, 75 00 it ’ 75 00 Li it 75 00 “ 75 00 it 75 00 LL It 75 00 LL “ 75 00 LL 75 00 LL J. C. Douglass, 75 00 LL 1. Lombard, 75 00 LL it 75 00 “ 75 00 J. C. Douglass, 75 00 J. A. Underwood, .... 75 00 “ 75 00 75 00 LL (( 75 00 LL LL 75 00 LL 75 00 $148,530 50 Beniarks. No. 1317 1318 1319 1320 1321 1322 1323 1324 1325 1326 1327 1328 1329 1330 1331 1332 1333 1334 1335 1336 1337 1338 1339 1340 1341 1342 1343 1344 1345 1346 1347 1348 1349 1350 1351 1352 1353 1354 1355 1356 1357 1358 1359 1360 1361 1862 1363 1364 1365 1366 1367 1368 1369 1370 1371 1372 1378 1374 1378 1376 137^ 1376 TABLE UI. — (Continued.) Mortgage Bonds due in 1861 . Proceeds. $876,469 50 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 428 75 425 00 425 00 428 75 428 75 428 75 437 50 428 75 433 75 433 75 433 75 433 75 433 75 433 75 433 75 433 75 433 75 433 75 428 75 428 75 425 00 425 00 425 00 425 00 428 75 428 75 428 75 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 425 00 $903,807 00 Mode By whom Amount of of Paym’t. Negociated. Discount. $148,530 50 75 00 Cash, , J. A. Underwood, .... 44 “ 75 00 44 li 75 00 J. C. Douglass, ...... 75 00 75 00 44 75 00 44 u 75 00 “ u 75 00 44 75 00 44 75 00 44 u 75 00 44 William Steele, 71 25 44 S. Alford, ,Ir 75 00 u 75 00 44 “ 71 25 71 25 44 J. P. Nelson, 71 25 44 P. Dillingham, 62 50 44 T. Leonard, 71 25 44 J. C. Dunn, 66 25 44 44 66 25 44 it 66 25 44 44 66 25 44 66 25 44 44 66 25 44 44 66 25 44 U 66 25 44 44 66 25 66 25 44 Phni- Piftrrpj 71 25 u N. C. Crane, 71 25 u J. p. Putnam, 75 00 44 75 00 44 u 75 00 44 IL 75 00 44 Ppohoii Hunt, 71 25 44 71 25 44 W. McKeon, 71 25 44 Mrs. L. B. Peck, J. E. Thayer & Bro. . . 75 00 75 00 75 00 44 44 75 00 44 44 75 00 44 44 75 00 44 44 75 00 44 44 75 00 44 44 75 00 44 75 00 75 00 44 44 75 00 44 44 75 00 44 44 75 00 44 75 00 75 00 44 44 75 00 44 (4 75 00 44 44 75 00 44 44 75 00 44 44 75 00 44 44 75 00 44 44 75 00 44 44 75 00 44 44 75 00 44 44 75 00 $153,193 00 Remarks No. 1381 1382 1383 1384 1385 1386 1387 1388 1389 1390 1391 1392 1393 1394 1395 1396 1397 1398 1399 1400 1401 1402 1403 1404 1405 1406 1407 1408 1409 1410 1411 1412 1413 1414 1415 1416 1417 1418 1419 1420 1421 1422 1423 1424 1425 1426 1427 1428 1429 1430 1431 1432 1433 1434 1435 1436 1437 1438 1439 1440 1441 1442 1443 1444 TABLE III. — (Continued.) Mortgage Bonds due in 1861 . Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. $903,807 00 425 00 Cash, j. E. Thayer & Bro. . . $153,193 00 75 00 425 00 a 75 00 425 00 U 75 00 425 00 u U 75 00 425 00 u 75 00 425 00 75 00 425 00 u u 75 00 425 00 u 75 00 425 00 (C 75 00 425 00 u U 75 00 425 00 (( u 75 00 425 00 ii u 75 00 425 00 u u 75 00 425 00 a 75 00 425 00 u 75 00 425 00 u ifi 75 00 425 00 (.i u 75 00 425 00 u u 75 00 425 00 a 75 00 425 00 a 75 00 425 00 u 75 00 425 00 u 75 00 425 00 u (( 75 00 425 00 u it 75 00 425 00 u it 75 00 425 00 u 75 00 425 00 u 75 00 425 00 a u 75 00 425 00 u 75 00 425 00 u iC 75 00 425 00 u u 76 00 425 00 u 75 00 425 00 u u 75 00 425 00 u ‘‘ 75 00 425 00 u u 75 00 425 00 u 75 00 425 00 u u 75 00 425 00 u (i 75 00 425 00 u (( 75 00 425 00 u u 75 00 425 00 it 75 00 425 00 u it 75 00 425 00 u 75 00 425 00 u 75 00 425 00 16 75 00 425 00 ££ u 75 00 425 00 it u 75 00 425 00 (( 75 00 425 00 u 75 00 425 00 75 00 425 00 u u 75 00 425 00 ii 75 00 425 00 a 75 00 425 00 ' u 75 00 425 00 a u 75 00 425 00 75 00 425 00 u 75 00 425 00 u 66 75 00 425 00 u 66 75 00 425 00 u 66 75 00 425 00 u 66 75 00 425 00 u 66 75 00 425 00 a 66 75 00 425 00 u George Francis, 75 00 $931,007 00 $157,993 00 Remarks. TABLE III. — (Continued.) 103 Mortgage Bonds due in 1861 , No. Disposition. Desig- nation. Proceeds. I 1445 Brought for Sold, vard, $500 $931,007 00 . 428 75 ( 1446 U 500 425 00 1447 u 500 425 00 1448 a 500 425 00 1449 (( 500 425 00 1450 “ 500 425 00 1451 u 500 425 00 1452 u 500 428 75 1453 ii 500 428 75 1454 u 500 425 00 1455 u 500 425 00 1456 u 500 425 00 1457 u 500 425 00 1458 u 500 425 00 1459 u 500 425 00 1460 u 500 425 00 1461 ii 500 425 00 1462 u 500 425 00 1463 u 500 425 00 1464 u 500 425 00 1465 u 500 425 00 1466 u 500 425 00 1467 u 500 425 00 1468 cc 500 425 00 1469 500 425 00 1470 u 500 425 00 1471 u 500 425 00 1472 u 500 425 00 1473 u 500 428 75 1474 u 500 428 75 1475 u 500 425 00 1476 u 500 428 75 1477 u 500 428 75 1478 a 500 425 00 1479 u 500 430 25 1480 u 500 430 25 1481 u 500 428 75 1482 u 500 428 75 1483 (( 500 428 75 1484 u 500 428 75 1485 (( 500 428 75 I486 u 500 428 75 1487 (( 500 425 00 1488 u 500 425 00 1489 u 500 1 425 00 1490 1 u 500 I 428 75 1491 u 500 1 428 75 1492 1 u 500 1 437 50 1493 500 1 437 50 1494 tt 500 f 433 75 1495 500 1 433 75 1496 50C 1 433 75 1497 50C ) 433 75 149? ! “ 50( ) 433 75 149£ ) 50( ) 433 75 1506 ) “ 50( ) 433 75 150] L “ 50( ) 433 75 1505 5 50( ) 433 75 150? } “ 50( ) 433 75 150< t ' 60( ) 433 75 150? ) “ 50( ) 433 75 150( J “ 50( ) 433 75 150] 1 50( ) 433 75 150! 50( ) 433 75 Carried fo: r ward, $958,430 00 Mode of By whom Negociated. Cash, Joel Mann, . . . . P. C. Turner, . . J. C. Douglass, Amount of Discount. J. E. Thayer, E. Hackett, J. E. Thayer & Bro. Wm. McLain, C. M. Dyer,. H. Bingham, Ira Young, . J. C. Dunn,. M. N. Lincoln, J. N. Willard, Rev. A. Blanchard, S. Hebard, G. & W. P. Frost, . J. E. Thaver & Bro William f’arsons, . . $157,993 00 71 25 75 00 75 00 75 00 75 00 75 00 75 00 71 25 71 25 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 71 25 71 25 75 00 71 25 71 25 75 00 69 75 69 75 71 25 71 25 71 25 71 25 71 25 71 25 75 00 75 00 75 00 71 25 71 25 62 50 62 50 66 25 66 25 66 25 66 25 66 25 66 25 66 25 66 25 66 25 66 25 66 25 66 25 66 25 66 25 66 25 $162,570 00 Remarks. 104 TABLE III. — (Continued.) Mortgage Bonds due in 1861 . No. Disposition. Desig- nation Proceeds. Mode of Paym’t By wliom Negotiated. Amount of Discount. Remarks. Brought fo ' ward, $959,288 75 $162 570 00 150£ Sold, $50( 433 75 Cash, J. C. Dunn, 66 25 151( ‘‘ 50( 425 00 ti J. E. Thayer & Bro. , . 75 00 151] 50( 425 00 “ ti 75 00 161^ 50( 425 00 (( “ 75 00 151£ “ 50( 425 00 it “ 75 00 1511 50( 425 00 it a 75 00 1515 50( 425 00 it 75 00 1516 50C 425 00 ii ii 75 00 1517 U 506 425 00 “ “ 75 00 1516 50C 425 00 “ 75 00 1519 50C 425 00 “ “ 75 00 1520 “ 500 428 75 ti H. Bingham, 71 25 1521 “ 500 430 25 S. Shaw, 69 75 1522 u 500 430 25 “ “ 69 75 1523 (( 500 428 75 it J. A. Page, 71 25 1524 “ 500 425 25 S. Prentiss, 74 75 1525 u 500 425 25 “ 74 75 1526 ii 500 425 25 u “ 74 75 1527 li 500 425 25 “ “ 74 75 1528 u 500 433 75 u J. C. Dunn, 66 25 1529 it 500 433 75 it “ 66 25 1530 “ 500 433 75 “ “ 66 25 1531 “ 500 433 75 ii it 66 25 1532 “ 500 425 00 ii W. H. Gregerson, 75 00 1533 “ 500 425 00 “ 75 00 1534 500 425 00 “ ii 75 00 1535 500 425 00 “ “ 75 00 1536 it 500 425 00 u “ 75 00 1537 500 425 00 “ 75 00 1538 500 450 00 “ William Sanborn, .... 50 00 1539 a 500 430 25 “ William Thomas, 69 75 1540 a 500 430 25 “ ii 69 75 1541 a 500 430 25 69 75 1542 it 500 430 25 (1 ii 69 75 1543 it 500 428 75 “ F. D. Anderson, 71 25 1544 500 425 00 J. Cutter, 75 00 1545 it 500 425 00 “ “ 75 00 1546 it 500 430 25 William Thomas, 69 75 1547 a 500 430 25 69 75 1548 ti 500 430 25 “ ‘■i 69 75 1549 it 500 430 25 a 69 75 1550 500 428 75 “ E. Carpenter, 71 25 1551 it 500 430 25 WUham Thomas, 69 75 1552 it 500 430 25 “ 69 75 1553 500 428 75 “ E. Carpenter, 71 25 1554 500 433 75 J. C. Dunn, 66 25 1555 it 500 433 75 “ “ 66 25 1556 a 500 433 75 u 66 25 1557 “ 500 433 75 “ “ 66 25 1558 500 432 50 T. H. Leavitt, 67 50 1559 500 425 00 G. W. Pritchard, 75 00 1560 a 500 433 75 u ^ J. C. Dunn, 66 25 1561 it 500 433 75 u ii 66 25 1562 it 500 433 75 u 66 25 1563 it 500 433 75 n ti 66 25 1564 it 500 433 75 u it 66 25 1565 500 433 75 tl ii 66 25 1566 a 500 433 75 tl ii 66 25 1567 a 500 433 75 ti 66 25 1568 ti 500 433 75 it 66 25 1569 a 500 433 75 “ it 66 25 1570 500 433 75 it 66 25 1571 500 433 75 It ii 66 25 1572 u 500 433 75 U '■ Fhomas Day, 66 25 Carried for N vard, $985,937 75 $167,062 25 No. 1573 1574 1575 1576 1577 1578 1579 1580 1581 1582 1583 1584 1585 1586 1587 1588 1589 1590 1591 1592j 1593 1594 1595 1596 1597 1598 1599 1600 1601 1602 1603 1604 1605 1606 1607 1608 1609 1610 1611 1612 1613 1614 1615 1616 1617 1618 1619 1620 1621 1622 1623 1624 1625 1626 1627 1628 1629 TABLE III. — (Continued.) 105 Mortgage Bonds due in 1861 . ^rard, $500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 100 Carried for ward, N Desig- nation. Proceeds. Mode of Paym’t. By whom Negotiated. Amount of Discount. $985,937 75 428 75 ' $167,062 25 71 25 Cash, 0. Cummings, 432 50 u T. H. Leavitt, 67 50 428 75 ii Allen Hazen, 71 25 428 75 “ A. Webster, 71 25 428 75 U E. Hebard, Thomas Day, 71 25 433 75 (( 66 25 428 75 U Mary F. Sanger, 71 25 425 00 J. R. Langdon, 75 00 425 00 75 00 425 00 “ 75 00 425 00 (( ‘‘ 75 00 425 00 u “ 75 00 425 00 a (( 75 00 425 00 (C “ 75 00 425 00 u u 75 00 425 00 u “ 75 00 425 00 u “ 75 00 428 75 J. Bickford, 71 25 428 75 J. Stoddard, 71 25 428 75 u T. Livermore, 71 25 428 75 1 S. C. French, 71 25 428 75 71 25 437 50 J. C. Dunn, 62 50 85 75 85 75 85 75 85 75 85 75 85 75 85 75 85 75 85 75 85 75 85 75 85 75 85 75 I 85 75 1 85 75 I 85 75 85 75 85 75 85 7 0 85 75 85 75 85 75 85 75 85 75 85 75 I 85 75 85 75 85 75 85 75 85 75 85 75 85 75 90 00 90 00 86 00 86 00 $997,875 00 Cash, Wales Lewis, A. E. Towle, a J. Quincy, . . . H. Humphreys, M. Thatcher, U T. C. Leeds, . S. 11. Walley, Remarks. 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 25 14 26 14 26 14 25 14 25 10 00 10 00 14 00 14 00 $109,225 00 C Given to J. A. ^ Underwood, ( as sample. ( Given to ^ Willis & Co. (as sample. 106 TABLE III. — (Continued.) Mortgage Bonds due in 1861 . No. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Bemarks. 1634 Brought for Sold, ward, $100 100 $997,875 00 86 00 S. H. Wallev, $169,225 00 14 00 1635 U 86 00 44 14 00 1636 u 100 86 00 44 14 00 1637 100 86 00 u 14 00 1638 u 100 86 00 14 00 1639 u 100 86 00 44 u 14 00 1640 “ 100 86 00 “ u 14 00 1641 u 100 86 00 44 “ 14 00 1642 (C 100 90 00 “ J. P. TeiTv, 10 00 1643 100 90 00 “ u 10 00 1644 “ 100 90 00 44 H. Humphreys, 10 00 1645 100 85 00 44 William McLain, 15 00 1646 u 100 85 00 44 15 00 1647 u 100 85 00 u 15 00 1648 u 100 85 00 15 00 1649 u 100 85 00 44 u 15 00 1650 iC 100 85 00 » u 15 00 1651 u 100 85 00 44 u 15 00 1652 u 100 85 00 “ 15 00 1653 a 100 85 00 44 15 00 1654 u 100 85 00 44 1 U 15 00 1655 1656 u 100 85 75 44 N. Jenne, 14 25 u 100 85 75 “ N. Mitchell, 14 25 1657 “ 100 85 75 “ “ 14 25 1658 “ 100 85 75 A. Adams, 14 25 1659 100 85 75 14 25 1660; 100 85 75 44 Sally K. Brewer, 14 25 1661 100 85 75 14 25 j 1662' u 100 85 75 William Bridge, 14 25 1663i u 100 85 7 5 44 14 25 1664 ii 100 85 75 44 44 14 25 1665 a lOOl 90 00 44 H. S. Fisk, 10 00 1666 u lOOj 90 00 10 00 1667 100 90 00 u 10 00 1668 a 100 90 00 u ! C. Davenport, 10 00 1669 100 90 00 G. S. Towle, 10 00 1670 100 90 00 44 10 00 1671 100 90 00 ! 10 00 1672! 100 85 75 44 ' B. Smith, 14 25 1673 i 100 90 00 “ 1 44 10 00 1674’ 1001 85 75 44 1 William Gilson, 14 25 16751 (4 100 85 75 44 14 25 1676 44 100 85 75 44 1 44 14 25 1677 44 100 88 00 B, Brown, Jr 12 00 1678 44 100 88 00 44 u 12 00 1679 44 100 88 00 44 u 12 00 1680 44 100 88 00 44 u 12 00 1681 44 100 88 00 44 a 12 00 1682 44 100 88 00 44 u 12 00 1683 44 100 88 00 u U 12 00 1684 100 88 00 44 U 12 00 1685 100 88 00 44 u 12 00 1686 100 88 00 44 U 12 00 1687 44 100 88 00 44 ii 12 00 1688 44 100 88 00 44 u 12 00 1689 44 100 88 00 44 U 12 00 1690 44 100 88 00 12 00 1691 100 88 00 44 u 12 00 1692 100 88 00 44 12 00 1693 100 88 00 it (( 12 00 1694 44 100 88 00 44 ll 12 00 1695 44 100 88 00 44 (( 12 00 1696 100 88 00 44 ii 12 00 1697 “ 100 88 00 44 “ 12 00 Carried for ward. $1,004,451 50 $170,048 50 No. 1698 1699 1700 1701 1702 1703 1704 1705 1706 1707 1708 1709 1710 1711 1712 1713 1714 1715 1716 1717 1718 1719 1720 1721 1722 1723 1724 1725 1726 1727 1728 1729 1730 1731 1732 1733 1734 1735 1736 1737 1738 1739 1740 1741 1742 1743 1744 1745 1746 1747 1748 1749 1750 1751 1752 1753 1754 1755 1756 1757 1758 1759 1760 1761 TABLE III. — (Continued.) 107 Mortgage Bonds due in 1861 . Desig- nation. Proceeds. ward, $1,004,451 50 ^100 88 00 100 88 00 100 88 00 100 88 00 100 88 00 100 88 00 100 85 00 100 85 00 100 85 00 loo! 85 00 100; 85 00 lOOj 85 75 100 85 00 100 86 05 100 86 05 100 86 05 100 86 05 100 86 05 100 86 05 100 86 05 100 86 05 100 86 05 100 86 05 100 86 50 100 86 50 100 86 50 100 86 50 100 86 50 100 86 50 100 86 50 100 86 50 100 86 50 100 85 75 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 1 85 00 100 j 85 00 100 85 00 100 85 00 100 1 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 ward, $1,009,935 75 Mode of Paym’t. By whom Negociated. j Amount of Discount. $170,048 50 Cash, B. Brown, Jr ’ 12 00 “ 12 00 “ 44 12 00 “ 44 12 00 44 44 12 00 44 44 12 00 44 W. C. Hickock, 15 00 44 “ 15 00 “ “ 15 00 “ 15 00 44 15 00 44 John Ayres, 14 25 44 G. B. Pierce, 15 00 “ William Thomas, .... 13 95 13 95 “ “ 13 95 “ 44 13 95 44 44 13 95 “ 44 13 95 44 13 95 44 13 95 44 44 13 95 44 44 13 95 G. R. Sampson, 13 50 44 44 13 50 U 44 13 50 i4 13 50 u 13 50 44 44 13 50 44 44 13 50 44 44 13 50 44 44 13 50 44 H. Burton, 14 25 44 “ 14 25 44 G. B. Pierce, 15 00 44 15 00 44 44 15 00 44 44 15 00 44 I. Lombard, 15 00 44 44 15 00 44 it 15 00 44 44 15 00 44 15 00 44 15 00 44 15 00 44 44 15 00 44 44 15 00 44 44 15 00 44 44 15 00 44 44 15 00 44 44 16 00 44 44 15 00 44 44 16 00 44 44 15 00 44 44 15 00 44 44 15 00 44 44 15 00 44 44 16 00 44 44 16 00 44 44 16 00 44 44 16 00 44 44 15 00 44 44 15 00 44 44 15 00 : $170,964 25 108 No. 1762 1763 1764 1765 1766 1767 1768 1769 1770 1771 1772 1773 1774 1775 1776 1777 1778 1779 1780 1781 1782! 1783! 1784 ! 1785 1786 1787 1788 1789 1790 1791 1792 1793 1794 1795 1796 1797 1798 1799 1800 1801 1802 1803| 1804 1805 1806 1807 1808 1809 1810 1811 1812 1813 1814 1815 1816 1817 1818 1819 1820 1821 1822 1823 1824 1825 TABLE III. — (Continued.) Mortgage Bonds due in 1861 . Mode of Paym’t. By whom Negociated. Amount of Discount. $170,964 25 15 00 Cilsh, I. Lombai'd, “ Edward Stone, 14 25 “ ii 14 25 “ Charles Clapp, 14 25 “ 14 25 “ A. Kendrick, 14 25 “ S. Shaw, 13 95 “ 13 95 “ “ 13 95 u “ 13 95 u u 13 95 “ “ 13 95 “ u 13 95 “ 13 95 “ J. McCullough, 14 25 “ 'Gilbert & Sons, 15 00 “ “ 15 00 “ u 15 00 “ “ 15 00 “ “ 15 00 “ “ 15 00 a “ 15 00 u “ 15 00 “ 15 00 “ 15 00 u “ 15 00 “ “ 15 00 “ 15 00 “ “ 15 00 “ li 15 00 “ B. Salisbury, 14 25 a 14 25 u E. Weston, 14 25 “ Susan Davis, 13 50 , 1 J. Quincy, Jr 14 87i “ 1 14 87i u “ 14 87^ (( 14 87^ 1 u u 14 87i “ 14 87^ il “ 14 87^ 1 “ “ 14 87^ ! “ It 14 87^ i !! “ 14 87^ 14 87i u 14 87i 14 87^ u “ 14 87^ “ 14 87^ “ 14 87^ u u 14 87^ a “ 14 S7j “ 14 87^ u li 14 87^ u 14 871 “ 14 87^ u “ 14 87^ it 14 87i u “ 14 87^ 14 87i “ 14 87i 14 87i it <( 14 87i n u 14 87i $171,903 94 Brought for ward. $1,009,935 75 Sold, $100 85 00 H 100 85 75 u 100 85 75 ii 100 85 75 100 85 75 u 100 85 75 (( 100 86 05 “ 100 86 05 “ 100 86 05 “ 100 86 05 n 100 86 05 “ 100 86 05 100 86 05 100 86 05 “ 100 85 75 “ 100 85 00 n 100 85 00 “ 100 85 00 a 100 85 00 100 85 00 “ 100 85 00 “ 100 85 00 100 85 00 “ 100 85 00 100 85 00 it 100 85 00 100 85 00 100 85 00 u 100 85 00 u 100 85 00 a 100 85 75 100 85 75 100 85 75 a 100 86 50 u 100 85 121 i4 100 85 121 (( 100 85 ii 100 85 I2i ii 100 85 12| 100 85 121 ! 100 85 I2i 100 85 12i| 100 85 I2i| 100 85 I2i| U 100 85 12^ 100 85 I2i (( 100 85 I2i ii 100 85 121 (i 100 85 121 ii 100 85 121 ii 100 85 I2i 100 85 I2i ii 100 85 12^ 100 85 121 100 85 I2i ii 100 85 I2i ii 100 85 12^ ii 100 85 12^ ii 100 85 12^ ii 100 85 12-^ ii 100 85 121 ii 100 85 121 it 100 85 12^ ii 100 85 12i ;$1,015,396 24 No. 182' 182‘ 182 182 183 183 183 183 183 183 183 183 183 183 184 184 184 184 184 184 184 184 184 184 185 185 185 185 185 185 185 185 185 185 I8e 186 186 186 186 186 186 186 186 186 18^ 18^ 18^ 18 \ 18 ^ 18: 18' 18’ 18’ 18’ 18 i 18i 18 TABLE III. — (Continued.) 109 Mortgage Bonds due in 1861 . Desig- lation. Proceeds. Mode of Paym’t. i^ard, : $100 $1,015,396 24 , 85 12-1 ( 100 85 12^ 100 85 12-L 100 85 12i 100 85 12-1- 100 85 12i 100 85 12^ 100 85 12 i 100 85 12i 100 85 12-1 100 85 12i 100 85 12-1 100 85 12L 85 121- 100 100 85 12i! 100 85 12-ii 100 85 12-i| 100 85 12-L 100 85 12.p 100 85 121 100 90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 DO 00 100 90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 '90 00 100 90 00 100 90 00 100 90 00 100 90 00 100 86 50 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 100 85 00 1 100 85 00 100 85 00 100 85 00 100 1 85 75 100 , 85 75 100 1 85 75 lOO 1 85 75 100 1 85 75 100 1 85 75 100 1 85 00 IOC ( 85 00 IOC , 85 00 IOC ( 85 00 ward. $1,020,964 65 Cash, J. By whom Negotiated. Quincy, Jr. Susan Davis, I. Lombard, John Ayres, F. E. Sampson, W. II. Ordwtiv, U John Paine, . . . Amount of Discount. $171,903 94 14 87^ 14 87i 14 87i 14 87i 14 87i 14 87^ 14 87^ 14 87^ 14 87^1 14 87i| 14 87L 14 87i; 14 8711 14 87ij 14 87il 14 87^' 14 87^- 14 14 87i| 14 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 10 00 13 50 15 00 15 00 15 00 15 00 15 00 15 00 15 00 15 00 15 00 14 25 14 25 H 25 14 26 14 25 14 26 13 00 15 00 16 00 15 00 . $172,735 36 No. j ISDoi lS9li 1892! 1S93| 1894| 1895 18961 18971 18981 1899 1900] 1901^ 19021 19031 I904I 1905 1906 1907 1908 1909 19101 1911! 1912j 1913; 1914 1915 1916 1917 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 1931 19321 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942, 1943 1944 1945 1946 1947 1 19481 1949! 1950j 195l' 1952i 1953 TABLE m.— (Continued.) Mortgage Bonds due in 1861 . Desig- nation. Proceeds. Mode of Paym’t. j By whom | Negociated. | Amount of Discount. ward, S 1,020,964 65 1 $1 i‘2ft 35 35 15 00 sio'o ' 85 00 Cash, John Paine, 100 85 00 “ I. Lombard, 15 00 100 85 00 11 15 00 100 85 00 (( ! “ 15 00 100 85 00 ! u 15 00 100 85 00 u 1 15 00 100 ' 85 00 J. A. Underwood, .... 15 00 ICO 85 00 u “ 15 00 100 85 00 u : “ 15 00 100. 85 00 i 15 00 100 ! 85 00 15 00 lOOj 86 25 Willis A Co 13 75 100 86 25 13 75 1001 85 00 J. C. Douglass, 15 00 100 85 00 i 15 00 looi 85 00 u 15 00 100 85 00 l ’ 1 * 15 00 100: 85 00 u ! it 15 00 lOOl 85 75 William Steele, 14 25 100 ! 85 75 u 14 25 100: 85 75 1 ;; 14 25 100 85 75 14 25 1 100 85 75 a 'j. P. Nelson, 14 25 lool 85 75 14 25 lOOi 86 75 u J. C. Dunn i “ 13 25 100, 86 75 ;; 13 25 lOOj 86 75 13 25 100' 86 75 u ! “ ; 13 25 1 lOOi 86 75 13 25 i looi 85 75 i Phin. Pierce, 14 25 looj 85 75 u E. P. Walton, Jr 14 25 lOOj 85 00 ^ Li J. P. Putnam, 15 00 1001 85 00 Li i 15 00 100 ' 85 00 LL 1 ti i 15 00 100 85 00 Li 1 li 1 15 00 100! 85 00 LL 1 “ 15 00 lool 85 75 Li S. Morris, 14 25 100' 85 75 u 14 25 ioo{ 85 75 LL 0. Goodrich, 14 25 100| 85 75 LL B. GilbeiT, 14 25 100: 85 75 Horace M'are, 14 25 100. 85 75 ' i LL Joel Mann, 14 25 100! 85 75 1 “ ! 14 25 looi 85 75 a Fitz william Griffin, . . . 1 14 25 100' 85 75 1 i “ i 14 25 100! 85 00 ! LL P. C. Turner, 15 00 100 ; 85 00 ; 1 LL 15 00 100 85 00 1 i 1 LL 15 00 100; 85 00 1 / « LL 15 00 100' 85 00 j LL 1 15 00 100! 85 00 1 1 LL 1 j 15 00 100 : 85 00 1 1 1 i 15 00 100 85 00 j “ 1 15 00 lOOj S5 00 “ 15 00 100 85 00 a LL 15 00 100: 85 75 LL E. Hackett, 14 25 100 ' 85 75 a I I William Putnam, .... 14 25 loo; 85 00 LL William McLam, 15 00 100! 85 00 LL Li 15 00 lOOi 85 00 15 00 100: 85 00 LL 15 00 100 ' 85 00 ! “ Li 15 00 looi 85 00 1 LL 15 00 lOOj 85 00 1 LL 1 15 00 ward, *S 1,026,430 15 i S173.669 85 No. 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1 TABLE III. — (Continued.) Ill Carried Mortgage Bonds due in 1861 . Amount of Discount. I Mode of ^aym’t. By whom Negociated. $1,026,430 15 . 1 ' 85 75 ( ]!ash, J i. S. Woods, 85 75 ‘‘ 86 05 u c 5. Shaw, 86 05 44 86 05 86 05 44 86 05 (4 44 86 05 44 44 86 05 44 44 86 05 44 86 05 44 44 86 05 44 85 75 44 G. & W. P. Frost, .... 86 05 44 William Parsons, 86 05 u 86 05 44 a 86 05 86 05 “ 86 05 44 86 05 44 85 75 44 ,J. P>. Morse, 85 75 44 1 S. Brown, 85 75 S. Bass, .Jr 3 85 75 44 3| 86 75 44 J. C. Dnnn, J 86 75 44 3 86 75 a 0 86 75 44 “ 0 86 75 u 0 85 75 44 H. Bingham, 0 85 00 C. M. Dyer, 0 85 00 0 85 75 S. Sinclair, 0 85 75 44 “ 0 85 75 J. A. Page, 0 85 75 Susan Sproule, 0 85 75 0 85 75 44 44 0 85 75 44 iO 85 75 4t. lO 85 75 44 Benjamin .[ones, lO 85 75 44 44 lO 85 00 W. H. Gregerson, .... fO 85 00 44 J. Boardman, )0 255 00 44 G. B. Peirce, )0 255 00 44 “ 1 )0 255 00 “ 1 )0 255 00 44 1 “ )0 255 00 44 I. Loinhard, )0 255 00 44 )0 255 00 “ 30 255 00 “ 30 255 00 “ 30 255 00 44 “ 30 255 00 “ 30 255 00 44 ‘‘ 30 255 00 44 u 00 255 00 44 00 255 00 44 “ 00 255 00 “ 00 255 00 44 “ 00 255 00 44 00 255 00 .1 On hand. 1000 2996 ' 1 2997 Sold, 500 428 75 Cash, J. W. Labaree, 71 25 2998 500 428 75 44 44 71 25 2999 44 500 428 75 44 44 71 25 3000 44 500 428 75 , 44 44 71 25 3001 44 500 433 75 44 Thomas Dav, ' 66 25 3002 500 433 75 44 66 25 3003 44 500 433 75 « 44 66 25 3004 44 500 433 75 44 44 66 25 3005 44 500 433 75 44 44 j 66 25 3006 44 500 433 75 44 “ i 66 25 3007 44 500 425 00 44 J. C. Dnnn, 75 00 3008 44 500 425 00 44 44 ! 7 5 00 3009 500 425 00 44 44 75 00 3010 44 500 425 00 44 44 75 00 3011 500 428 75 44 C. S. Shedd, 71 25 3012 44 500 428 75 Wm. Parsons, 71 25 3013 44 500 428 75 44 44 ’ 71 25 1 Carried for ' ward, $1,597,456 50 $270,643 50 % TABLE IIL — (Continued.) 125 Mortgage Bonds due in 1861 . Mode of Paym’t. By whom Negociated. Amount of Discount. $270,643 50 71 25 Cash, ' iVilliam Parsons, r. N. Willard, 71 25 “ ( C. Woodruff, Francis Tukey, 71 25 (C 1 71 25 “ r. H. Leavitt, 66 25 iL “ 66 25 (( 66 25 James Sawver, 75 00 U 75 00 J. C. Dunn, 75 00 u 75 00 u u 75 00 u “ 75 00 u u 75 00 u 75 00 “ 75 00 u 75 00 u D. N. Adams, 75 00 u T. G. Brainerd, 71 25 ci H. H. Camp, 71 25 I. D. Farnsworth, 75 00 68 75 U B. B. Frost, 71 25 U B. Garvin, 71 25 44 Koyal Hatch, 50 00 G. Lincoln, 75 00 44 A. Marsters, 50 00 44 C. Paine, 2d, 71 25 44 Eobert Prince, 71 25 44 W. Robinson, 71 25 44 J. E. Smith, J. Sprague, 71 25 71 25 44 D. Watson, Jr 71 25 44 H. Wolcott, 71 25 44 C. Worcester, 71 25 J. C. I3unn, 75 00 44 W. Currier, 71 25 1 Cash, L. M. Martin, 71 25 44 75 00 ^ 44 William Thomas, 69 75 69 75 u 69 75 n 69 75 ) “ u 69 75 1 “ u 69 75 E. Nye, Jr 71 25 ! “ E. G. Pierce, 71 25 A. E. McElroy, 71 25 ) “ E. H. Ilemmenway, . . 75 00 75 00 ) ) “ J. C. Dunn, 75 00 44 62 50 ) 44 62 50 ) 44 62 50 ) ■\ 44 44 62 50 ) ) “ 44 62 50 44 62 50 3 “ 44 62 50 ^ 44 (i 62 50 J 44 44 62 60 J 3 “ 44 62 50 44 62 50 3 “ 5 “ U 63 75 $275,027 00 Disposition. 8014 3015 3016 3017 3018 3019 3020 3021 3022 3023 3024 3025 3026 3027 3028 3029 3030 3031 3032 3033 3034 3035 3036 3037 8038 3039 3040 304 3042 3043 3044 3045 3046 3047 3048 3049 3050 3051 3052 3053 3054 3055 3056 3057 3058 3059 3060 3061 3062 3063 3064 3065 3066 3067 3068 3069 3070 3071 3072 3073 3074 3075 3076 3077 Brought Sold, . . . for Filed, Sold, . Desig- nation. Proceeds. ward, $1 $500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 ,597,426 428 428 428 428 433 433 433 425 425 425 425 425 425 425 425 425 425 425 428 428 425 431 428 428 450 425 450 428 428 428 428 428 428 428 428 425 428 Carried forlward, $1,624,573 00 No. 3078 3079 3080 3081 3082 3083 3084 3085 3086 3087 3088 3089 3090 3091 3092 3093 3094 3095 3096 3097 3098 3099 3100 3101 3102 3103 3104 3105 3106 3107 3108 3109 3110 3111 3112 3113 3114 3115 3116 3117 3118 3119 3120 3121 3122 3123 3124 3125 3126 3127 3128 3129 3130 3131 3132 3133 3134 3135 3136 3137 3138 3139 3140 3141 f TABLE ni. — (Continued.) Mortgage Bonds due in 1861 . Proceeds. Mode of Paym’ By whom Negociated. Amount of Discount. $1,624,573 00 436 25 $275,027 00 63 75 Cash, J. C. Dunn, 436 25 “ “ 63 75 1 436 25 “ it 63 75 425 00 (( H. Homer, 75 00 1 425 00 U ii 75 00 425 00 iL it 75 00 ! 425 00 U ii 75 00 425 00 “ ii 75 00 425 00 75 00 432 50 “ T. B. Pope, 67 50 432 50 u ii 67 50 432 50 (( 67 50 432 50 u ii 67 50 425 00 a F. Skinner, 75 00 425 00 “ 75 00 425 00 (( ii 75 00 425 00 u ii 75 00 425 00 a it 75 00 425 00 a ii 75 00 425 00 “ it 75 00 425 00 (£ ii 75 00 425 00 (( it 75 00 428 75 (( G. W. Benedict, 71 25 428 75 U “ 71 25 428 75 “ E. D. Briggs, 71 25 425 00 U J. E. Thayer & Bro. . . 75 00 425 00 ii 75 00 425 00 a 75 00 425 00 ii 75 00 425 00 75 00 425 00 it 75 00 425 00 u it 75 00 425 00 u ii 75 00 425 00 ii 75 00 425 00 u ii 75 00 425 00 it ii 75 00 425 00 ii « 75 00 425 00 it 75 00 425 00 ii ii 75 00 425 00 ii ii 75 00 425 00 ii it 75 00 425 00 ii ii 75 00 425 00 ii it 75 00 425 00 ii 75 00 425 00 ii 75 00 425 00 ii 75 00 425 00 ii it 75 00 425 00 ii it 75 00 425 00 ii ii 75 00 425 00 75 00 425 00 ii 75 00 425 00 ii it 75 00 425 00 it 75 00 425 00 ii ‘‘ 75 00 425 00 ii 75 00 425 00 it 75 00 425 00 ii ii 75 00 425 00 it ii 75 00 425 00 ii 75 00 425 00 ii 75 00 425 00 ii 75 00 425 00 ii 75 00 425 00 it 75 00 425 00 ii ii 75 00 $1,651,848 00 $279,752 00 Bemarks. No. 3142 3143 3144 3145 3146 3147 3148 3149 3150 3151 3152 3153 3154 3155 3156 3157 3158 3159 3160 3161 3162 3163 3164 3165 3166 3167 3168 3169 3170 3171 3172 3173 3174 3175 3176 3177 3178 3179 3180 3181 3182 3183 3184 3185 3186 3187 3188 3198 3190 3191 3192 3193 3194 3195 3196 3197 3198 3199 3200 3201 3202 3203 3204 3205 TABLE III. — (Continued.) 127 Mortgage Bonds dice in 1861 . Proceeds. Brought for ward, $1,651,848 00 Sold, $500 425 00 500 425 00 “ 500 425 00 U 500 425 00 500 425 00 u 500 425 00 a 500 425 00 a 500 425 00 500 425 00 u 500 425 00 iC 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 a 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 “ 500 425 00 (C 500 425 00 (£ 500 425 00 U 500 425 00 U 500 425 00 (( 500 425 00 U 500 425 00 U 500 425 00 (( 500 425 00 U 500 425 00 u 500 425 00 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 ii 500 425 00 (( 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 u 500 425 00 ii 500 425 00 ii 500 425 00 ii 500 425 00 ii 500 425 00 ii 500 425 00 500 425 00 ii 500 425 00 ii 500 425 00 ii 500 425 00 ii 500 425 00 ii 500 425 00 ii 500 425 00 500 425 00 $1,679,048 00 Mode of Paym’t. By whom Negociated. Cash,. J. E. Thayer & Bro. . . ii a (( a a ii a a ii a a ii a ii a a ii a ii a a ii ii ii ii a a ii a ii ii u a ii u ii ii ii ii a u ii ii ii ii ii ii ii ii ii (( ii ii ii ii ii a ii a ii a ii ii ii it a ii ii a a a a ii ii a ii a ii ii a a ii ii a ii ii ii a ii ii ii ii ii a ii (( (( ii it ii a a ii ii a ii ii a a ii a a a ii a ii ii a a ii a Amount of Discount. Remarks. $279,752 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 ' 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 75 00 $284,552 00 28 TABLE III. — (Continued.) Mortgage Bonds due in 1861 . No. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom ■ Negociated. Amount of Discount. $1,679,048 00 $284,552 00 3206 Sold, T $500 i 425 00 Cash, J. E. Thayer & Bro. . . : 75 00 3207 u 500 425 00 u 75 00 3208 u 500 i 425 00 a ' 75 00 3209 ti 500 1 425 00 a 75 00 3210 a 500 1 425 00 ii 75 00 3211 u 500 425 00 u ii 75 00 3212 a 500 ! 425 00 n a 75 00 3213 u 500 1 425 00 ii ii 75 00 3214 “ 500 j 425 00 a ii 75 00 3215 u 500 425 00 iL it 75 00 3216 u 500 425 00 ii 75 00 3217 a 500 425 00 (( a 75 00 3218 “ 500 425 00 u a 75 00 3219 “ 500 ! 425 00 ii 75 00 3220 u 500 425 00 ii ii 75 00 3221 a ^00 425 00 ii ii 75 00 3222 u 500 425 00 a 75 00 3223 “ 500 425 00 (C a 75 00 3224 u 500 425 00 (( a 75 00 3225 u 500 425 00 (( 75 00 3226 500 425 00 a 75 00 3227 “ 500 425 00 75 00 3228 U 500 425 00 ii 75 00 3229 u 500 425 00 ii 75 00 3230 500 425 00 75 00 3231 500 ! 425 00 a 1 1 75 00 3232 u 500 i 425 00 (C 75 00 3233 u 500 425 00 ii 75 00 3234 ii 500 425 00 ii ii 75 00 3235 u 500 425 GO ii 75 00 3236 500 425 00 ii a 75 00 3237 500 425 00 ii a 75 00 3238 (( 500 425 00 it a 75 00 3239 u 500 425 00 ii 75 00 3240 u 500 425 00 ii « 75 00 3241 500i 425 00 ii 75 00 3242 u 500 425 00 ii a 75 00 3243 500| 450 00 E. Rhoades, 50 00 3244 ) 1 1 to > On hand., 500' 1 3492 ) \ 3493 Sold, 1 100; 85 00 Cash, E. E. Dnvisffn 15 00 3494 100, 85 00 ii J. Cutter, i 15 00 3495 u 100 85 00 ii ii 15 00 3496 u 100 85 00 ii » 15 00 3497 100 85 00 ii U 15 00 3498 100 85 75 a E. Carpenter, 14 25 3499 u 100 87 50 u J. C. Dunn, 12 50 3500 u 100 87 50 ii 12 50 3501 100 87 50 a ii 12 50 3502 a 100 87 50 a 12 50 3503 (( 100 87 50 ii 12 50 3504 a 100 85 75 a S. Boynton, 14 25 3505 100 85 75 14 25 3506 n 100 85 75 A. Buell, 14 25 3507 u 100 85 75 a 14 25 3508 100 85 75 N. GiUet, 14 25 3509 (( 100 85 75 ii 14 25 3510 (( 100 87 50 ii J. C. Dunn, 12 50 3511 100 87 50 a 12 50 3512 n 100 87 50 a ii 12 50 3513 li 100 87 50 a ii 12 50 3514 (i 100 87 50 ii ii 12 50 Carried for ward, jl $1,697,125 25 $287,674 75 Remarks. No. 3515 3516 3517 3518 3519 3520 3521 3522 3523 3524 3525 3526 3527 3528 3529 3530 3531 3532 3533 3534 3535 3536 3537 3538 3539 3540 3541 3542 3543 3544 3545 3546 3547 3548 3549 3550 3551 3552 3553 3554 3555 3556 3557 3558 3559 3560 3561 3562 3563 3564 3565 3566 3567 3568 3569 3570 3571 3572 3573 3574 3575 3576 3577 3578 TABLE III. — (Continued.) 129 Mortgage Bonds due in 1861 . Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. $1,697,125 25 $287,674 75 ' 86 75 Cash, Thomas Day, 13 25 85 75 A. Webster, 14 25 85 75 14 25 85 75 u E. Hebarcl, 14 25 85 75 u 14 25 85 75 u Mary F. Sanger, 14 25 85 75 u li 14 25 85 00 (C J. R. Langdon, 15 00 85 00 “ 15 00 85 00 “ ‘‘ 15 00 85 00 U u 15 00 85 00 u u 15 00 85 75 J. Bickford, 14 25 85 75 u 14 25 85 00 (( J. Kendall, 15 00 85 00 u 15 00 85 75 u T. Livermore, 14 25 85 75 u L. N. Barnard, 14 25 85 75 u u 14 25 87 50 u J. C. Dunn, 12 50 87 50 u U 12 50 87 50 u 12 50 85 121 u J. Cleaves, 14 871 85 121 “ u 14 871 86 25 u Thomas Dav, 13 25 86 75 u u “ 13 25 86 75 T. H. Leavitt, 13 25 86 75 u 13 25 86 75 u Thomas Day, 13 25 87 50 u J. C. Dunn, 12 50 87 50 u 12 50 87 50 u a 12 50 87 50 u a 12 50 87 50 u 12 50 85 75 C. S. Shedd, 14 25 85 75 William Parsons, .... 14 25 85 75 u ii 14 25 85 75 u J. E. M. Gilley, 14 25 85 75 W. H. Lemex, 14 25 85 75 u 14 25 85 75 £& Ezra Alden, 14 25 85 75 u (4 14 25 85 75 44 14 25 85 00 u G. Loveland, 15 00 85 75 it J. N. Willard, 14 25 85 75 it 14 25 85 75 it J. R. Wellman, 14 25 85 75 u 44 14 25 85 75 u Francis Tukey, 14 25 85 75 u 44 14 25 86 75 a T. H. Leavitt, 13 25 86 75 u “ 13 25 86 75 it “ 13 25 86 75 it u 13 25 86 75 u “ 13 25 82 00 it G. Barton, 8 00 85 75 u S. H. Bennett, 14 25 85 75 u 44 14 25 85 75 u J. ir. Blain, 14 25 85 75 iC .1. Blodget, 14 25 8y 7 5 “ 14 25 85 75 u T. G. Brainerd, 14 25 85 75 u Mary E. Emerv, 14 25 85 75 John Marsh, 14 25 $1,702,635 25 $284,564 75 Remarks. 130 TABLE III. — (Continued.) Mortgage Bonds due in 1861 . No. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negotiated. Amount of Discount. Brought for ward, !$1,702,635 25 85 75 $288,564 75 14 25 3579 Sold, $100 100 Cash, John Mnrsh, . . . 3580 u 85 75 T. A. Harden, 14 25 3581 u 100 88 00 u Jacob Malck, 12 00 3582 a 100 85 75 C. B. Redfield, 14 25 3583 u 100 85 75 J. Shaw, 14 25 3584 u 100: -85 75 “ 14 25 3585 u 100 85 75 u J. Sprague, Giles Waitt, 14 25 3586 u 100 85 75 14 25 3587 “ 100 85 75 J. C. Walkley, 14 25 3588 100! 85 75 u u 14 25 3589 u 100 85 75 u C. Worcester, 14 25 3590 u 100 87 50 J. C. Dunn, 12 50 3591 (( 100 85 75 C. & R. Ainsworth, . . 14 25 3592 u 100 85 75 u E. G. Pierce, 14 25 3593 u 100 85 75 u E. H. Covill, 14 25 3594 “ 100 85 75 14 25 3595 u 100 85 75 u R. Montague, 14 25 3596 100 85 75 u 14 25 3597 “ 100 85 75 u A. Cummins, 14 25 3598 100 85 75 u 14 25 3599 100 85 75 Betsey Cummins, .... 14 25 3600 “ 100 85 75 14 25 3601 u 100 85 00 u L. Beckley, 15 00 3602 100 85 75 u 44 14 25 3603 u 100 85 75 E. Wheaton, 14 25 3604 100 85 75 u Ezra Carter, 14 25 3605 100 85 00 u F. Skinner, 15 00 3606 100 85 00 u “ 15 00 3607 100 85 75 H. B. Wheelwright, . . 14 25 3608 100 85 V5 u ii 14 25 3609 (( 100 90 00 u 0. Cummins, 10 00 3610 (( 100 90 00 u Mary G. Dixon, 10 00 3611 (( 100 85 00 u J. E. Thayer & Bro. . . 15 00 3612 u 100 85 00 a 15 00 3613 u 100 85 00 a u 15 00 3614 u 100 85 00 u 15 00 3615 100 85 00 a u 15 00 3616 100 85 00 a ii 15 00 3617 u 100 85 00 u ii 15 00 3618 100 85 00 it ii 15 00 3619 100 85 00 u ii 15 00 3620 100 85 00 u ii 15 00 3621 100 85 00 ii 15 00 3622 100 85 00 a 44 15 00 3623 100 85 00 u 44 15 OO 3624 100 85 00 u 44 15 00 3625 100 85 00 u 44 15 00 3626 100 85 00 u 44 15 00 3627 u 100 85 00 a 44 15 00 3628 100 85 00 it 44 15 00 3629 100 85 00 it 44 15 00 3630 100 85 00 u 44 15 00 3631 1001 85 00 u 44 15 00 3632 ‘‘ 100 85 00 it 44 15 00 3633 100 85 00 it 44 15 00 3634 100 85 00 a 44 15 00 3635 100 85 00 a 44 15 00 3636 100 85 00 u 44 15 00 3637 “ 100 85 00 a 44 15 00 3638 100 85 00 a 44 15 00 3639 100 85 00 it 44 15 00 3640 100 85 00 it 44 15 00 3641 100 85 00 it 44 15 00 3642 100 85 00 a 44 15 00 Carried for ward, i$l,708,109 50 $289,490 50 Remarks. TABLE III. — (Continued.) 131 Mortgage Bonds due in 1861 . No. Disposition. Desig- nation. Proceeds. Mode of Paym’t. By whom Negociated. Amount of Discount. Remarks. Brought for ward. $1,708,109 50 $289,490 50 3643 Sold, $100 85 00 Cash, J. E. Thayer & Bro. . . 15 00 3644 li 100 85 00 “ u 15 00 3645 U 100 85 00 U ii 15 00 3646 u 100 85 00 a a 15 00 3647 u 100 85 00 “ “ 15 00 3648 u 100 85 00 a ii 15 00 3649 u 100 85 00 a a 15 00 3650 u 100 85 00 a ii 15 00 3651 u 100 85 00 a ii 15 00 3652 u 100 85 00 u ii 15 00 3653 u 100 85 00 a a 15 00 3654 u 100 85 00 u a 15 00 3655 u 100 ' 85 00 a ii 15 00 3656 u 100 85 00 a ii 15 00 3657 u 100 85 00 a ii 15 00 3658 u 100 85 00 a a 15 00 3659 100 85 00 u ii 15 00 .3660 (( 100 85 00 u ii 15 00 3661 u 100 85 00 a u 15 00 3662 u 100 85 00 a u 15 00 3663 it 100 85 00 u ii 15 00 3664 u 100 90 00 it L. N. Bernard, 10 00 3665 ti 100 91 00 u C. E. Currier, 9 00 3666 it 100 91 00 ii J. A. Davis, 9 00 3667 ) to > On hand. 100 3790 3791 ) Defaced, . . 100 ( Given to ^ Q A Wallrot* No ) ^ o* v¥ aiKcr (as a sample. > On hand. 1000 251 Bonds. No’s $1,710,166 50 $289,833 50 Deduct from Proceeds, Commissions: Paid J. C. Dunn, $537 60 Paid J. E. Thayer & Bro 2300 00 $2837 50 Total of Bonds out, $2,000,000 — Netting, less Commissions, $1,707,329, or 85f per cent, nearly. 132 TABLE III. — (Continued.) CONDENSED STATEMENT CONCERNING THE FIRST MORTGAGE BONDS DUE IN 1861. The issue of these Bonds was authorized to the extent of $2,000,000. The Trustees have kept strict account of all that they have signed, which shows the amount just named to include all now in circulation. A “ Record ” of these Bonds was kept, and with little exception it proved to be correct. The exceptions referred to above are, that one entry of “ Sale,” amounting to $200 only, was omitted ; and that exchanges of Bonds for others of different denominations, were not, as they should have been, noted upon the Record Book. The average price realised by the Company for these Bonds, was about 85^ per cent. It should be understood, however, that this Table does not show in its column of “Discount” a sum of $53 7. .50, allowed to Mr. James C. Dunn; nor a sum of $2,300, allowed to Messrs. John E. Thayer & Bro. ; making together $2,837.50, being \ per cent., which sum was allowed them respectively as a commision for the sale of $215,000, and $920,000, of these Bonds. The sum of these commissions not being considered by the Company as a “ discount on the Bonds,” (which it really is, however,) was carried, in the Company’s Books, like all other Brokerage, to “ Interest Account.” In accordance with the opinion above expressed, that this should in fact be included in the “ Discount on Bonds,” these commissions are added in as Discount at the foot of the Table, which therefore represents the amount reabsed on these Bonds by the Company, to be about 85| per cent. Attention having been directed to the payment of this commission to Mr. Dunn, it is proper that the explanation given by that officer, and by his associates, should also be stated. This is, that the Bonds, when offered to the public, were not subscribed for to the requisite amount, and Mr. Dunn agreed to find purchasers for some of them, on condition that if he disposed of any, and a commission should be allowed by the Company to any other party, the same commission should be allowed to him. Such commission being allowed to the Messrs. Thayer, it was claimed by, and allowed to, Mr. Dunn. It may be also noted, that Mr. Dunn’s sales, including his commission, produced to the Company about 86| per cent., being 1| per cent, more than was realised in the transaction with the Messrs. Thayer, and 1 per cent, more than the average price realised upon the whole issue. Note. — The Bonds marked “ Defaced,” were given as samples to sundiy persons, as follows: Nos. 203, for $5,000, to G. S. Haivis, Treasurer pro tern, of Northern Eailroad Company; 1596 and 1597, for $100 each, to J. A. Underwood, and to H. Willis & Co. ; 2746, for $1,000, to Hon. John Young; and 3791, for $100, to Samuel A. Walker, Esq. The signatures on these Bonds were erased. TABLE IV. LOSSES BY S. F. BELKNAP. 134 TABLE IV. Dr. S. F. Belknap in Account^ for Construction^ with 1846. Feb. 28, Mar. 31, To Engineer’s Draft on Treasurer at sight, . (( u u u a $10,000 00 15,000 00 6,000 00 Apr. 2i; “ 29, u u ii ii it u (( ii a it 12,000 00 May 30, June 15, (C u ii a ii 20,000 00 u a ii u ii 8,000 00 “ 30,' u u ii it tt 42,000 00 July 30, Aug. 31, Sept. 7, “ 30, u n u ii tt 36,000 00 u u u ii a 29,000 00 u u li ii ii 6,000 00 u u u a ii 85.000 00 5,000 00 40.000 00 46.000 00 36.000 00 Oct. 16, u ii ii ti tt “ 31, (( ii ii a Nov. 30, « ii ii ii ii Dec. 30, u ii ii a a 1847. Jan. 30, ii 61,550 00 “ 30, u ii ii it ii 37,800 00 18,730 00 17,850 00 18,480 00 17,100 00 13,750 00 15.500 00 9,000 00 16,240 00 21,275 00 16,010 00 28,250 00 16,080 00 30.500 00 Feb. 27, u ii ii a a “ 27, u ii ii tt ii Mar. 31, u a ii a a “ 31, u a ii a tt Apr. 30, u a a a a “ 30, » ii a tt ii “ 30, u ii a a a May 28, n ii ii tt a 31,' u ii a a tt June 30, it ii ii a it “ 30, it ii it a it July 29, u ii a a ii “ 31, u ii ii ii ii “ 31, u ii it it a 4,000 00 Aug. 31, u ii tt a ii 16,770 00 “ 31, u a it a a 35,850 00 Sep. 30, u ii ii a ii 20,950 00 85,800 00 6,000 00 18,160 00 27,250 00 4,000 00 21,450 00 23,400 00 ‘‘ 30, u ii a it ii “ 30, u ii a it tt Oct. 30, u ii it a tt “ 30, tt ii it a ii “ 30, u ii ii it tt Nov. 30, u Li ii ii a “ 30, u ii ii a a Dec. 31, ii a a a 14,280 00 “ 31, u ii ii a ii 17,700 00 33,025 00 24,050 00 34.300 00 40,650 00 31.200 00 33.300 00 41.100 00 38.250 00 35,600 00 28,875 00 29.250 00 21.200 00 15.100 00 24,200 00 25,800 00 30,000 00 1848. Jan. 31, a ii ii ii Feb. 25, ii it ii ii ii Mar. 31, u ii it ii a Apr. 29, u ii a ii ii May 31, (( ii it a tt June 30, (( ii ii a ii July 31, u a ii ii a Aug. 31, u a ii it ii Sep. 30, u a a it a Oct. 31, u a a a ii Nov. 30, u a a ii a Dec. 30, u ii a a tt 1849. Jan. 31, u it ii it a Feb. 28, u “ a it ii Mar. 31, a a a ii Apr. 30, “ S. F. Belknap’s Draft on Treasurer Carried over $1,415,626 00 TABLE IV. 135 the Vermont Central Railroad Company. Cr. 1846. Feb. 28, Mar. 31, Apr. 30, May 31, June 30, July 31, Aug. 31, Sep. 30, Oct. 31, Nov. 30, Dec. 31, By three-fourths of Engineer’s Estimate, $ 10,000 00 15.000 00 18.000 00 20,000 00 42.000 00 36.000 00 29.000 00 49.000 00 45.000 00 46.000 00 36.000 00 1847. Jan. 31, “ 31, Feb. 28, Mar. 31, Apr. 30, May 31, June 30, July 31, Aug. 31, Sep. 30, Oct. 31, Nov. 30, Dec. 31, u u ii u u u U ii u u u u C( u u u u u u u (( u ii u u u u u u u U u u u ic U ii u u (on above at tlie new prices,). u u u u 61,550 00 37,800 00 36.580 00 35.580 00 29,250 00 37,515 00 44,260 00 46.580 00 52,620 00 56,750 00 45,410 00 44,850 00 31.980 00 1848. Jan. 31, “ Feb. 29, “ Mar. 31, “ Apr. 30, “ May 31, “ June 30, “ July 31, “ Aug. 31, “ Sep. 30, “ Oct. 31, “ Nov. 30, “ Dec. 31, “ u u u u (( u (( u U il (I u u u U (( (i u U (( u u U il il ll .1 ll il ll ll ll ll ll il ll il ll 33,025 00 24,050 00 57.300 00 40,650 00 31.200 00 33.300 00 41,100 00 38.250 00 35,600 00 28,875 00 29.250 00 21.200 00 1849. Jan. 31, “ Feb. 28, “ Mar. 31, “ Apr. 30, “ May ) and V “ June, ) U U a n a u “ (final estimate,), 15,100 00 24,200 00 25,800 00 30,000 00 124,343 28 Carried ovei*, $1,539,968 28 136 TABLE IV. — (Continued.) Dr. S. F. Belknap in Account, for Construction, with May and June, 1848. Jan. 1, “ 1 , Mar. 31, Apr. 29, May 31, June 30, July 31, Aug. 31, Sep. 30, Oct. 31, Nov. 30, Dec. 31, 1849. Jan. 31, Feb. 28, Mar. 31, Apr. 30, June 30, “ 30, “ 30, Amount brought over, To Sundry Payments from President at Northfield, cash Balance of Due Bill, Dec. 1, 1848, against Belknap,. . $4,993 13 S. F. B.’s Draft on Treasurer paid Feb. 22, 1849,. . . . 1,000 00 “ “ “ 26, “ 5,000 00 u ii it ii 29, “ .... 6,000 00 u “ Mar. 11, “ 13,000 00 It ii “ “ 13, “ .... 5,000 00 “ ii ii “ 19, “ .... 7,000 00 “ (4 “ Apr. 11, “ .... 8,000 00 “ U “ ii “ 13, “ .... 10,000 00 U ii “ ii “ 15, “ .... 5,000 00 “ ii it ii “ 18, “ .... 5,000 00 it it ii “ 21, “ .... 3,000 00 it ii it ii “ 22, » .... 4,000 00 it ii “ ii Mav 11, “ .... 8,000 00 “ ii 13, “ .... 8,000 00 it U ii “ ii “ 15, “ .... 8,000 00 “ U “ ii “ 18, “ .... 6,000 00 “ u it June 10, “ .... 5,000 00 “ u ii it “ 12, “ .... 3,000 00 it ii “ “ 15, “ .... 8,000 00 “ ii it ii “ 17, “ .... 3,000 00 “ it “ 18, “ .... 3,000 00 “ it ii (( ii July 11, “ .... 16,000 00 ii ii “ ii “ 12, “ .... 5,000 00 it ii “ “ 15, “ .... 6,000 00 “ it Aug. 10, “ .... 8,000 00 “ it ii “ 12, “ .... 5,000 00 “ “ ii “ 14, “ .... 3,000 00 “ ii it “ 15, “ .... 5,000 00 it it “ 17, “ .... 9,000 00 To Cash at sundry times, tIz: Dec. 11, 1848, $2,000 00, loaned. Mar. 10, 1849, 2,000 00, “ May 4, “ 6,094 00, paid Jewett for him. June 4, “ 3,906 00, “ “ » “ “ 4, “ 100 00, at Windsor. Bal. of Note Mar. 12, ’47, 9,165 00, for loan. Sept. 1, 1848, 300 00, paid Jewett for him. Jan. 25, 1849, 241 67, “ “ “ “ July 9, 1848, 10 00, collected for Company by him. To Engineer’s Draft on Treasurer, U U “ S. F. Belknap’s Drafts on Treasurer, balance brought forward,. “ Balance due on Stock, “ Bonds loaned him, “ Coupons attached to Bonds, paid to July 1, 1852,'. $1,415,625 00 63,728 38 186,993 13 23,816 67 $1,689,163 18 $180,600 00 33,400 00 23,000 00 8,100 00 6,250 00 6.650 00 8,200 00 7.650 00 7,100 00 5,775 00 5,840 00 4,225 00 3,000 00 4,830 00 5,150 00 149,194 90 168,992 00 289,200 00 72,783 00 $989,939 90 TABLE IV. — (Continued.) 137 the Vermont Central Railroad Company. Cr. Amount brought over,, $1,539,968 28 By Balance carried forward to debit of S. F. Belknap, (being balance of his Drafts on Treasurer,) 149,194 90 Note. — The Amount of $63,72^.38, debited to Mr. Belknap as cash from the President at Northfield, was for payments made by the latter, in accordance with a vote of the Board before referred to, “ aiitliorising the President to carry on the work of construction for Mr. Belknap’s account during his sickness.” 1849. June 30, “ 30, “ 30, “ 30, By one-fourth, or Balance of Final Estimate,. , “ Windsor Depot, for award of A. B. Young,, “ Extra Bills allowed by the Engineer, “ Balance carried forward to debit of S. F. B. $1,689,163 18 $513,322 76 14,196 56 10,000 00 452,420 58 $989,939 90 R 138 TABLE IV. — (Continued.) Dr. S. F. Belknap in Account^ for Construction^ with To Balance brought forward, ! $452,420 58 I “ Interest on his Stock Account, at 6 per cent., which would amount i to about, 1 100,000 00 * 1 1 1 I TABLE IV. — (Continued.) 139 the Vermont Central Railroad Company. By Amount realised from sales of Collaterals given the Company by S. F. B “ Estimated Value of his Claim against the Northern (New York) Eailroad Company, “ The value of the Stock, unpaid for hy him, which is still in the Company’s hands, and must be credited to him for what it may sell for, (being 1847 Shares,) against the charge to him in this account of the balance unpaid on his subscription, Cr. $27,643 56 25,000 00 140 TABLE lY. — (Continued.) It -will be seen that tbe Company suffer, as shown in the foregoing account, a loss of about 8500,000 direct ; but there are other losses not so distinctly to be set forth, but which may be alluded to here, and which the reader can judge of for himself. The amount of Simple Interest due from Mr. Belknap on his Stock, would be about 8100.000, as chairged in the account herewith ; but it cost the Company three times that rate, to furnish themselves with means they should have received from the payment of this Stock. This would then add about 8200,000 more to the account of 8500.000, as made up. The Engineers estimated also, that it would require at least 8100,000 expenditure to bring the road into the finished condition in which hir. Belknap should have left it according to his contract. As such estimates are almost invariably too low, it may be presumed that it did cost the Company at least that sum for the purpose. But the total loss to the Company was made stiU greater by the fact, that this sum, which in this connection is assumed to be about 8800,000, could only be replaced by ultimate sales of second Mortgage Bonds, at a loss of nearly 20 per cent, on their par value, and it therefore required a sale of about § 1 , 000,000 of these Bonds ! TABLE V. STATEMENT IN CONNECTION WITH THE FOLLOWING ACCOUNT, RELATING TO J. QUINCY, Jr. Entries of monies obtained by Mr. Quincy for tbe Company, were made upon their Books and on his own, in cases where he substituted his note for the Corporation’s, as “Loans of Cash by him to the Vermont Central Bailroad Company ; ” and when these substitutions were made, he retained in his own possession the Notes of the Corporation, to which was attached Collateral, and he offered for discount to the Banks or Brokers his own private notes, giving as Collateral with them, the Bonds which he had received as security with the Corporation Notes. This circumstance will account for the name of “ Loan Account ” given to the following table ; which title was adopted for convenience, and because the same name was given to these transactions upon the Books of the Company. 142 TABLE V. Dr. Vermont Central Railroad Company in No. Time. Note, On Demand, 1 U u u u u u u u u u a u u u u 87 Memorandum, » Note, U u U u it U u u ii u (C u u u 150 » Memorandum, u Note, 164 u 185 “ Check, 284 Payable Dec. 18, . . U 289 “ “ 22, u 290 “ “ 29, . . Note, 189 On Demand 218 u Carried forward. Where discounted for Mr. Quincy. Amount Borrowed by Vt. CentraL Suffolk Bank, $3,800 00 U 6,200 00 Uncertain, 3,000 00 Merchants Bank, 10,500 00 P. P. F. Degrand, 4,000 00 Old Colony Bank, 5,000 00 P. P. F. Degrand, 2,000 00 Union Bank, 10,000 00 V. C. R. R. Dividend, 2,500 00 P. P. F. Degrand, 2,000 00 Union Bank, 10,000 00 Uncertain, 5,000 00 ( l\Iass. Hos. Ins. Co., Suffolk ( QA AAA AA ( Bank, and James C. Dunn, > 0U5UUU UU Merchants Bank, 10,000 00 f Shoe and Leather Dealers ( OA AAA AA ( Bank, and Willis & Co. f UU James C. Dunn, 10,000 00 P. P. F. Degrand, and Div’d,. 3,500 00 Suffolk Bank, 9,000 00 Merchants Bank, 10,000 00 G. Davis, Treasurer, 7,000 00 J. E. Thayer & Bro 15,000 00 Shoe and Leather Dealers B’k, 5,000 00 Suffolk Bank, 10,000 00 P. P. F. Degi-and, -. 5,000 00 New England Bank, 9,000 00 Union Bank, 10,000 00 Willis & Co 11,496 85 10,000 00 “ 10,000 00 Union Bank, 10,000 00 Vt. Central R. R. Co 10,083 33 $269,079 18 1849. iept. 3, “ 4 , “ L “ 10 , “ 10 , “ 13, “ 14, “ 19, “ 24, Oct. 2, “ 5 , “ 13, 15, 16, “ 19, “ 22 , Nov. 5, “ “ 13, “ 14, “ 19, “ 20 , “ 21 , “ 30, Dec. 10, “ 10 , “ 10 , “ 10 , “ 12 . “ 18, TABLE V. 143 Loan Account with Josiah Quincy^ Jr. Cr. Eate of Interest. Brokerage. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct.^ 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr, ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct, 6 pr. ct. 12 pr. ct. 12 pr. ct. to 22d & 6 “ fr. date 1 pr. ct. 100 00 12 pr. ct. U) 29th 4 6“ fr. date 6 pr. ct. 6 pr. ct. him by the Vt. Central. Extra Interest. Simple Interest. Amount returned by Vt. Central. 1849. Sept. 8 “ 14 “ 12 “ 14 “ 14 Oct. 4 Sep. 11 “ 14 “ 14 Oct. “ 24 Sep. 26 “ 27 Oct. “ 4 u 4 Dec. 7 “ 8 » 18 Oct. 17 “ 29 “ 31 Nov. 15 1850. Oct. 31 1849. Nov. 5 “ 12 “ 15 “ 1 “ 15 Oct. 24 Nov. 17 Dec. 5 “ 7 Nov. 12 “ 24 “ 20 “ 21 “ 21 1850. Jan. 15 1849. Dec. 18 U 7 “ 11 “ 12 “ 19 “ 18 1850. Jan. 1 1849. Dec. 29 “ 31 1850. Jan. 5 Apr. 19 1849. Dec. 28 1850. Jan. 1 $15 33 40 00 63 34 $4 97 "s 34 12 33 7 25 2 67 20 00 13 67 23 00 6 25 3 33 ioo 08 60 83 99 42 626 67 81 34 26 34 1 17 31 67 5 00 12 83 is 83 1 67 93 33 22 50 10 50 5 33 15 33 36 67 36 08 211 67 18 81 pd. Willis & Co. “ J. Quincy, Jr. pd. Willis & Co. J. Quincy, Jr. Canned for ward. $2,000 00 1,800 00 6,000 00 200 00 500 00 2,500 00 10,000 00 500 00 4.000 00 5.000 00 2.000 00 6,000 00 2,000 00 2,000 00 2.500 00 2,000 00 5,515 33 4,484 67 5.000 00 1.500 00 10,000 00 12,000 00 6.500 00 10,000 00 10,000 00 4.000 00 6.000 00 8,000 00 2,000 00 3.500 00 4.500 00 4.000 00 500 00 10,000 00 7.000 00 10,000 00 5.000 00 5,000 00 10,000 00 5.000 00 9.000 00 2.000 00 6,000 00 2,000 00 11,495 85 10,000 00 3,000 00 4.500 00 2.500 00 10,000 00 7,083 33 3,000 00 $269,079 18 /Over ( charg’d ( Over ^ charg’d 144 TABLE V. — (Continued.) Dr. Vermont Central Railroad Company in No. Time. Where discounted for Mr. Quincy. Brought forwatd. Dec. 18, Note, 219 Uncertain, “ 18, 221 Merchants Bank, 1850. Jan. 2, (( 250 it H. H. Hnnnewell, “ (( 270 it Globe B’k, and V. C. R. R. Co. “ 9, U 279 it Suffolk Bank, “ 21, li 293 30 days, Richard Bell, Feb. 8, it 351 Suffolk Bank, “ 27, U 381 Union Bank, Mar. 8' “ 11? 398i 476 it Payable Mar. 22, . . “ “ 26, . . Willis & Co. ... “ 11, “ 14, u Note, 477 3991 400 tt TTneertnjn^ » 15, 'it H. H. Hunnewell, “ 16, Note, 4031 494 On Demand, Sayles, Merriam & Brewer, . . Willis & Co “ 21, Check, 1 dav “ 22, Note, 407i 497 On Demand, Suffolk Bank, “ 23, Check, Payable Apr. 6, . . . On Demand, Willis & Co “ 23, it 498 tt “ 26, it 501 (Payable Apr. 11,) )Ext’dto “ 30,1 u “ 26, it 502 Payable “ 18, . tt “ 26, i( 25 On Demand, Merchants Bank, “ 30, Note, 4281 4301 4311 4341 4351 4381 4891 490^ 491^ 4921 4931 494^ 495^ it Robert Farlev, . . Apr. 4, it G. Davis, Treasurer, “ 5, it Merchants Bank, “ 8, it it Willis & Co “ 9, it it Uncertain, “ 12, May 1, it ;; tt G. Davis, Treasurer, “ 1, it H. H. Hunnewell, “ 2, ii it W. T. Eustis, “ 2, it G. Davis, Treasurer, “ 3, “ 10, it it S. Brown & Sons. “ 10, it tt G. Davis, Treasurer, “ 11, it 496^ it H. H. Hunnewell, CaiTled forward. Amount Borrowed by Vt. Central. $269,079 18 2,000 00 10,000 00 10,000 00 20,000 00 10,000 00 30.000 00 10.000 00 10,000 00 10,000 00 7.000 00 3.000 00 5.000 00 18,600 00 10,000 00 9.464 75 10,000 00 3.464 75 6,040 88 5,000 00 5.000 00 10,025 00 6.000 00 2,600 00 4.000 00 3.000 00 3,000 00 1,200 00 5,843 90 3,150 32 10,000 00 3,662 56 3,084 26 2,117 38 9,220 43 11,000 00 $541,553 41 TABLE V. — (Continued.) 145 Loan Account with Josiah Quincy^ Jr. Cr. When re- turned to him by the Vt. Central. Rate of Interest. Brokerage. Extra Interest. Simple Interest. Amount returned by Tt. Central. 1849. Bro’ght for Ward, .... $268,079 18 2,000 00 Dec. 19 6 pr. ct. 6 pr. ct. $0 33 “ 18 2,000 00 4,000 00 4,000 00 » 27 “ 28 12 67 1850. Jan. 3 6 pr. ct. 6 pr. ct. 1 67 10,000 00 “ 5 9,500 00 10,500 00 “ 7 3 50 Apr. 18 Mar. 6 6 pr. ct. 6 pr. ct. 6 pr. ct. 165 00 10,000 00 220 00 30,000 00 2,589 00 5,d00 00 2,000 00 411 00 Apr. 5 May 27 June 12 “ 25 166 55 Mar. 26 6 pr. ct. 6 pr. ct. 18 pr. ct. 18 pr. ct. 6 pr. ct. 45 00 10,000 00 “ 16 13 33 10,000 00 7.000 00 3.000 00 5.000 00 990 00 “ 26 “ 26 Apr. 19 $35 00 15 00 17 50 7 50 29 17 pd. Willis & Co. . . a Mar. 23 Apr. 17 “ 28 3,500 00 3,000 00 “ 29 2,548 50 8,561 50 10,000 00 May 1 Mar. 22 18 pr. ct. 6 pr. ct. i pr. ct. 46 50 257 48 128 74 10 00 pd. H. H. Hunnewell teleg’ph, 1 16 37 50 9.464 75 10,000 00 3.464 75 “ 23 “ 26 18 pr. ct. 6 pr. ct. 18 pr. ct. ’*6 32 ’ *3 16 6 67 pd, Willis & Co. . . Apr. 17 to Apr. 6, 16 16 5 15 to Apr. 6, 8 08 to Apr. 17, 6 35 pd. Willis & Co. . . Mar. 23 3,000 00 “ 29 3,000 00 Apr. 30 to Mar. 25, 6 00 40 88 /Over 6 pr. ct. 3 25 /charg’d “ 30 30 to Apr. 11, 26 66 to Apr. 11, 13 33 5,000 00 5,000 00 18 pr. ct. 18 pr. ct. 6 pr. ct. to Apr. 30, 31 67 to Apr. 18, 38 34 to Apr. 30, 15 83 to Apr. 18, 9 97 to Apr. 30, 10 00 pd. Willis & ho. . . “ 1 10,000 00 25 00 “ 4 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 25*00 10 02 2 00 “ 1 6,000 00 /Under / charg'd “ 18 “ 19 6 07 9 33 4 50 pd. but $5.07, error. 2,600 00 4.000 00 3.000 00 327 58 “ 17 “ 17 “ 19 1,846 40 826- 02 1,200 00 4,134 16 1,000 00 709 74 “ 30 “ 19 6 pr. ct. ’*6 41 1 40 pd. $6.68, error, . . . / Over / charged May 11 “ 29 6 pr. ct. June 5 *15 70 to May 23, 11 65 to June 5» 6 87 “ 5 12 pr. ct. 6 pr. ct. 6 pr. ct. to May 23, 11 55 pd. H. H. Hunnewell pd. Quincy, 3,150 32 May 14 “ 15 20 00 10,000 00 3,662 56 3,084 26 2,117 38 5,220 43 700 00 6 pr. ct. 6 pr. ct. 6 pr. ct. 6 pr. ct. 7 93 “ 15 6 16 “ 15 1 76 “ 21 “ 22 June 5 May 11 “ 15 *25 27 3,300 00 6 pr. ct. 5,152 50 4,000 00 1,119 95 » 16 Carried for ward, $540,825 86 s 146 TABLE V. — (Continued.) Dr. Vermont Central Railroad Company in Where discounted for Amount No. Time. Mr. Quincy. borrowed by Vt. Central. Brought forward. $541,553 41 May 18, 521^ ( New England Bank, and ) 1 G. Davis, Treasurer, ) 8,500 00 “ 25, u 44 TTncertain, 7.000 00 3.000 00 “ 28, u 537i 538^ 44 Willis & Co “ 29, u 44 44 7,000 00 “ 30, U 539^ 640^ 655i 659^ 560^ 573| 674^ 44 H. L. Jacques, 3,000 00 “ 31, iL 44 James C. Dunn, 10,000 00 June 11, U 44 Union Bank, 10,000 00 “ 15, U 44 H. H. Hunnewell, 15.000 00 12.000 00 2,300 00 5,000 00 “ 15, U 44 H. M. Holbrook, “ 20, 44 Uncertain, “ 22, u 44 44 July 5, “ 23, i( 632^ 641i 645^ 647i 660 44 Hamilton Bank, 20,000 00 4.000 00 5,432 90 2,300 00 5.000 00 u Uncertain, “ 25, u 44 G. Davis, Treasurer, “ 27, (£ 44 Uncertain, Aug. 1, 44 44 “ 3, 684^ 44 P. P. F. Degrand, 8,000 00 “ 3, a 685 “ Amer. Exchange B’k, N. Y. . . 40,000 00 “ 13, u 697^ 7l0i 712i 714 44 Wm. T. Eustis, 8,000 00 8,000 00 19,900 00 4,200 00 10,000 00 “ 23, u 44 Wm. F. Weld, “ 23, u 44 Robert Farley, “ 24, u 4 months. “ 24, u 715 2 “ 44 “ 28, a 727 4 ^ “ 44 2,800 00 2,200 00 “ 28, a 728 4 “ 44 “ 30, u 729 4 “ 44 5,000 00 “ 30, 730 6 “ 44 5.000 00 2.000 00 2,000 00 “ 31, 4C 731 6 “ 44 “ 31, U 732 6 “ 44 Sept. 2, u 725i 726i 733i 734 On Demand, H. M. Holbrook, 10,000 00 5,000 00 “ 4, u u Wm. F. Weld, “ 9, u li Suffolk Bank, 9,845 00 “ 16, u 4 months, Robert Farley, 13,000 00 4.000 00 3.000 00 » 16, u 735 4 “ 44 “ 16, (4 736 4 “ 44 Oct. 7, U On Demand, Bank of Commoroo, 10,000 00 30.000 00 20.000 00 “ 9, 44 44 ' James C. Dunn, » 14, 44 44 Hamilton Bank, Carried forward. $883,031 31 TABLE IV. — (Continued.) 147 Loan Account with Josiah Quincy^ Jr. Cr. When re- turned to him by the Vt. Central. Rate of Interest Brokerage. Extra Interest. Simple Interest. Amount returned by Vt. Central. Bro’glit for ward, . . . . $540,825 86 $6 63 727 55 “ 5 6 pr. ct. 5,034 82 “ 13 30 12 3,465 18 Oct. 31 6 pr. ct. 182 00 7,000 00 June 13 6 pr. ct. 8 00 3,000 00 “ 24 6 pr. ct. 700 00 “ 25 1,200 00 “ 28 33 93 5,100 00 July 1 6 pr. ct. 16 00 3,000 00 June 12 6 pr. ct. 20 00 10,000 00 “ 13 6 pr. ct. 3 33 10,000 00 “ 28 4,900 00 July 1 9,984 00 5 6 pr. ct. 37 63 116 00 8,000 00 “ 24 6 pr. ct. ii 33 4,000 00 6 pr. ct. 5 75 2,300 00 5 6 pr. ct. 10 83 5,000 00 “ 5 3,000 00 “ 12 10,500 00 » 15 5,000 00 Auff. 5 6 pr. ct. 28 33 1,500 00 “ 5 1,028 81 “ 12 6 pr. ct. i 2 is 2,971 19 “ 5 6 pr. ct. 9 96 5,432 90 July 29 6 pr. ct. 0 77 pd. but $0.70, 2,300 00 /Under \ charg’d Oct. 31 6 pr. ct. 75 00 5,000 00 Aug. 9 6,000 00 “ 12 6 pr. ct. ' *9 66 2,000 00 “ 12 4,007 68 “ 16 31,400 00 “ 20 3,000 00 “ 22 6 pr. ct. *87 58 1,592 32 “ 22 6 pr. ct. 12 00 8,000 00 “ 24 9 pr. ct. $6 67 1 33 8,000 00 “ 24 9 pr. ct. 1 66 3 32 19,900 00 Dec. 27 9 pr. ct. i'pr.’ct."2i’()6 43 05 86 10 4,200 00 Oct. 29 1,000 00 Nov. 9 9 pr ct to Oct 27 1 pr. ct. 50 00 to Oct. 27, 62 60 to Oct. 27, 105 00 pd. Farley, 9,000 00 6 pr. ct. fr. Oct. 27, 19 83 pd. J. Quincy, Jr. . Dec. 31 9 pr. ct. i pr. ct. 14 00 *28 70 57 40 2,800 00 31 9 pr. ct. \ pr. ct. 11 00 22 55 45 10 2,200 00 1851. Jan. 2 9 pr. ct. ^ pr. ct. 25 00 51 25 102 50 5,000 00 Mar. 2 9 pr. ct. 1 pr. ct. 25 00 76 25 152 50 5,000 00 “ 3 9 pr. ct. ^ pr. ct. 10 00 30 50 61 00 2,000 00 “ 3 9 pr. ct. ^ pr. ct. 10 00 30 50 61 00 2,000 00 1850. Sept. 7 6 pr. ct. 8 33 10,000 00 “ 10 4,700 00 “ 17 6 pr. ct. **5 35 300 00 “ 17 6 pr. ct. 13 12 9,845 00 1851. Jan. 19 9 pr. ct. \ pr. ct. 65 00 133 25 266 50 13,000 00 “ 19 9 pr. ct. ^ pr. ct. 20 00 41 00 82 00 4,000 00 “ 19 9 pr. ct. \ pr. ct. 15 00 30 75 61 60 3,000 00 1850. Oct. 9 6 pr. ct. 3 33 10,000 00 “ 11 17,000 00 “ 15 5,000 00 “ 18 6 pr. ct. *22 67 8,000 00 “ 17 10,000 00 “ 22 1,045 00 Carried for! ward, .... $874,076 31 148 TABLE V. — (Continued.) Dr. Vermont Central Railroad Company in ' No. Time. Where discounted for Mr' Quincy. Brought forward. Oct. 21, Note, On Demand, Suffolk Bank, ii Wm. T. Eustis, T)ftc. 23, ti ii TTncertain, » 28, u 756 ii Wm. F. Weld, 1851. u ii TTncertain, “ 2, u ii Willis & Co “ 4, u a Bank of Commerce, “ 6, u ii TTncertain, “ 7, It it, Willis & Co “ 13, u ii ii “ 16, (( ii Massachusetts TJanlCj . . “ 18, u 778 ti Robert Farley, “ 18, ii Bovlston Bank, “ 18, u ii Mass. Hos. Life Ins. Co. .... “ 20, u ii C. A. Read, “ 22, u ii Willis & Co “ 23, ii 1 ! u Wm. T. Eustis, “ 24, u 779 23d, 60 days, John Hancock Bank, Feb. 1, ii 793 Payable Apr. 5, . . Bank of Commerce, “ 1, ii 794 “ ’ “ 2, . a ’ “ L ii 795 “ “ 10, . . a “ 13, ii On Demand, V. C. R. R. Co “ 14, ii ii Willis & Co « 15, ii it ii “ 15, ii a Willis & Co. or H. M. Holbrook, “ 15, ii a “ 22, ii ii Suffolk, or Bank of Commerce, “ 25, u ii ( Robert & Williams, and ) 1 Moses Taylor & Co ) Mar. 1, ii n S. & W. Welsh, “ 1, ii 820 3 months, Willis & Co. “ 1, ii 821 ii “ 1, ii 822 ii ii “ 1> ii 823 ii ii " 1, ii 824 ii a “ 4, ii On Demand, Clement Willis, “ 8, ii G. Davis, Treasurer, “ 11, a a 1 L. T. Stoddard, and G. ) ( Davis, Treasurer, | “ 13, ii a Uncertain, .... , “ 14,; a ii S. Brown & Sons, Carried forward, Amount borrowed by Vt. Central. $883,031 31 10,000 00 12,000 00 4,854 06 10,643 10 977 34 10,000 00 30,000 00 9.000 00 7.000 00 6,000 00 10,000 00 10,000 00 10,000 00 10,000 00 6,347 00 9,000 00 15.000 00 10.000 00 20,000 00 20,000 00 20,000 00 15,299 66 5,000 00 14,629 05 4,500 00 1,400 00 6,681 27 40,000 00 5.000 00 10,000 00 10,000 00 10,000 00 10,000 00 10,000 00 3.000 00 5,003 04 6,682 35 2,000 00 2,041 95 $1,285,090 13 TABLE V. — (Continued.) 149 Loan Account with Josiah Quincy^ Jr, Cr. When re- turned to him by the Vt. Central. Eate of Interest. Brokerage. Extra Interest. Simple Interest. Amount returned by Vt. Central. Bro’ght for ward, .... $874,076 31 Oct. 29 6 pr. ct. i pr. ct. $5 00 ^28 78 pd. J. Q., Jr. $34.94 8,955 00 “ 31 6 pr. ct. 16 66 10,000 00 Nov. 9 980 li “ 11 6 pr. ct. ii 67 11,019 83 1851. 4,492 66 “ 10 6 pr. ct. 13 06 pd. J. Q. but $11.40 361 40 June 27 8 pr. ct. 107 02 321 06 10,643 10 Jan. 10 6 pr. ct. 1 46 977 34 “ 6 8,000 00 “ 8 6 pr. ct. * 7 34 2,000 00 “ 10 13,648 40 “ 14 7,821 11 “ 16 6 pr. ct. *43 74 8,530 49 “ 17 3,200 00 “ 18 6 pr. ct. *17 47 pd. but $17.03, 5,800 00 “ 18 51 30 “ 20 5,383 97 Feb. 1 6 pr. ct. ’is 26 1,564 73 Jan. 14 6 pr. ct. 1 00 pd. J. Q., Jr. nothing 6,000 00 “ 20 6 pr. ct. 6 67 10,000 00 Mar. 3 15 00 15 00 29 17 58 33 10,000 00 Jan. 20 6 pr. ct. 3 33 . . 10,000 00 “ 20 2,500 00 “ 31 3,553 33 Feb. 1 6 pr. ct. ii 75 3,946 67 “ 1 6 pr. ct. 12 69 6,347 00 Jan. 31 4,980 00 Feb. 1 6 pr. ct. ii ii 4,020 00 Jan. 31 6 pr. ct. 20 00 15,000 00 Mar. 27 9 pr. ct. 62 days 51 67 103 33 10,000 00 Feb. 13 9 pr. ct. 20 00 40 00 20,000 00 “ 13 9 pr. ct. 20 00 40 00 20,000 00 “ 13 9 pr. ct. 20 00 40 00 20,000 00 “ 18 12,000 00 “ 19 1,361 20 “ 20 6 pr. ct. ’is 62 1,938 46 “ 20 6 pr. ct. 5 00 5,000 00 » 19 6 pr. ct. 9 75 14,629 05 “ 20 6 pr. ct. 3 75 4,500 00 “ 20 6 pr. ct. 1 17 1,400 00 “ 22 2,500 00 “ 24 6 pr. ct. ”i 39 4,181 27 “ 26 20,000 00 “ 28 2,500 00 Mar. 1 8,502 00 “ 5 4,200 00 “ 11 6 pr. ct. ’2i 06 4,798 00 “ 8 4,000 00 Apr. 2 6 pr. ct. ’io 00 1,000 00 June 4 10 pr. ct. I pr. ct. 37 50 i03 33 155 00 10,000 00 “ 4 10 pr. ct. 1 pr. ct. 37 50 103 34 155 00 * 10,000 00 “ 4 10 pr. ct. pr. ct. 37 50 103 33 155 00 10,000 00 “ 4 10 pr. ct. f pr. ct. 37 50 103 34 155 00 10,000 00 “ 4 10 pr. ct. 1 pr. ct. 37 50 103 33 155 00 10,000 00 Mar. 7 6 pr. ct. 1 50 ' 3,000 00 “ 11 6 pr. ct. 2 50 5,003 04 “ 12 809 40 Apr. 1 2,000 00 “ 2 6 pr. ct. 'si 3.3 3,872 95 “ 30 6 pr. ct 16 00 2,000 00 “ 2 6 pr. ct. 6 46 2,041 95 Carried for ward, .... $1,285,090 13 ( Over \ charg’d C Under \ charg’d /Under ( charg’d /Under \ charg’d 150 TABLE V. — (Continued.) Dr. Vermont Central Railroad Company in No. Time. Where discounted for Mr. Quincy. Brought forward. Mnr. IS S. Henshaw & Son, u 17, it 838 Joseph Eaton, u 21, it 841 Robert Farley, ll 21, it tt Uncertain, u 22, it tt G. Davis, Treasurer, ( C. A. Reed, Levi Folsom, 1 24, 1 and G. Davis, Treasurer,. | 15, it G. B. Upton, or R. Huntington, u 26. tt 845 Mervin & Gould, u 26, (t 847 On Demand, H. M. Holbrook, (( 26, Ct 848 S. Brown & Sons, » 27, 844 24th, 6 months,. . . . Wm. H. Foster, u 27, u 849 60 days, John Hancock Bank, u 27, tt Hamilton Bank, 28, tt 846 26th, 90 days ATervin & Gould, Apr. 1, U 855 3 months, Greenfield Bank, 1, tt 856 4 months, tt u 6, tt On Demand, TTnion Rarikj u 7, tt (( Uncertain, u 8, tt u u 9, tt 870 6 months, Wm. H. Foster, u 9, tt 871 6 “ tt u 11, tt 874 12 “ H. F. Sumner, a 18, tt 875 4 “ Union Bank, u 24, tt 878 4 “ N. Peirce, May 1, tt On Demand, Wm. H. Foster, u 1, tt tt tt (( 6, tt tt V. C. E. R. Company, u 10, tt tt S. Brown & Sons, u 19, tt tt Suffolk Bank, it 20, tt V. C. R. R. Company, it 21, tt tt Wm. H. Foster, 21, tt tt C. A. Read, it 29, tt tt Wm.'T. Fnstis . . June ! 4, tt tt Willis & Co it 4, tt tt Underwood lir. Sons it 4, tt tt Vt. Sir. Canada. R. R. Co. it U Rockport B’k, and J. Quincy, . ** 7, tt 896 6 months, WiUis & Co : it L tt 897 tt tt 13, On Demand, S. Henshaw & Son, Amount Borrowed by Vt. Central. $1,285,090 13 15,000 00 5.000 00 30.000 00 3.000 00 22.000 00 6,648 3r 10,000 00 10,000 00 10,000 00 2,500 00 10,000 00 10,000 00 20,000 00 10,000 00 5,000 00 5.000 00 10,000 00 1.000 00 4.000 00 3.000 00 5.000 00 12,850 00 10,000 00 10,000 00 5,802 34 6,000 00 3.000 00 14.000 00 4.000 00 30.000 00 14,501 25 9,667 50 15.000 00 10.000 00 19,474 38 50,000 00 7,600 00 6,000 00 5,000 00 30,000 00 $1,742,033 97 TABLE V. — (Continued.) 151 Loan Account with Josiah Quincy^ Jr. Cr. When re- turned to him by the Vt. Central. Kate of Interest. Brokerage. Extra Interest. Simple Interest. Amount returned by Vt. Central. Bro’ght for $1,285,090 13 2,000 00 9,970 00 3,030 00 5,000 00 30.000 00 1,500 00 1,500 00 1,428 37 20.000 00 571 63 Mar. 29 Apr. 5 “ 9 6 pr. ct. 9 pr. ct. 12 pr. ct. 52 19 June 27 ^pr. ct. $12 50 ^ pr. ct. 75 00 $76 25 152 50 May 20 Apr. 4 “ 9 300 00 300 00 6 pr. ct. 8 25 Mar. 22 “ 25 Apr. 2 “ 2 6 pr. ct. ii 05 4,499 96 1,148 41 10,000 00 10,000 00 10,000 00 “ 9 6 pr. ct. 6 pr. ct. 9 81 Apr. 9 June 27 “ 27 25 00 ^ pr. ct. 12 50 i pr. ct. 12 50 pd. W. H. Foster,. . pd. Mervin & Gould 9 pr. ct. 102 50 98 33 205 66 98 33 Oprctto June27 9 pr. ct. 28 33 56 66 “ 27 i pr. ct. 6 25 teleg’ph, 1 35 1 pr. ct. 25 00 1 pr. ct. 25 00 50 62 101 25 2,500 00 10,000 00 “ 27 9 pr. ct. 9 pr. ct. 6 pr. ct. 125 00 250 66 May 29 Apr. 5 June 27 “ 27 “ 27 Apr. 9 “ 15 52 50 105 00 10,000 00 20,000 00 10,000 00 5,000 00 30 00 ^ pr. ct. 12 50 ^ pr. ct. 12 50 i pr. ct. 12 50 i pr. ct. 12 50 pd. W. H. Foster, . . pd. Mervin & Gould 9 pr. ct. 9 pr. ct. 9 pr. ct. 75 83 38 75 isi 67 77 50 51 25 102 50 5,000 00 9,226 34 6 pr. ct. 6 pr. ct. 6 pr. ct. 9 pr. ct. 10 pr. ct. 10 pr. ct. 6 pr. ct. 9 pr. ct. 7 74 773 66 “ 15 1 13 1,0'00 00 “ 15 4 67 4,000- 00 3.000 00 5.000 00 12,850 00 10,000 00 10,000 00 1,300 00 June 27 “ 27 “ 27 “ 27 “ 27 May 2 “ 3 i pr. ct. 7 50 -} pr. ct. 12 50 ^ pr. ct. 50 00 i pr. ct. 25 00 *45 75 76 25 518 29 91 50 152 50 f Under ( charg’d 777 43 205 00 pd. but $1,294.61, . 102 50 205 00 1,830 24 “ 5 2,496 67 » 13 “ 5 6 pr. ct. 6 pr. ct. 6 pr. ct. 2 85 175 43 3 33 5.000 00 3.000 00 “ 13 3 50 “ 13 6,818 22 “ 15 8 pr. ct. 6 pr. ct. ' 3 is *9 38 7,181 78 June 4 May 24 “ 28 10 67 4,000 00 10,000 00 12,500 00 June 4 “ 10 “ 27 “ 27 “ 27 “ 4 4,439 39 2,000 00 9 pr. ct. 9 pr. ct. 9 pr. ct. 6 pr. ct. 8 pr. ct. 8 pr. ct. i pr. ct. 75 00 24 08 44 71 29 81 ’48 15 89 43 1,060 61 14,501 25 9,667 50 15.000 00 10.000 00 19,474 38 I pr. ct. 24 17 59 62 15 00 July 5 June 27 “ 12 'ii 22 24 88 51 67 74 65 5,000 00 “ 13 “ 17 “ 26 “ 27 “ 27 “ 27 » 27 “ 27 25,000 00 10,000 00 2,625 42 8 pr. ct. 8 pr. ct. 8 pr. ct. 8 pr. ct. 6 pr. ct. '34 58 8 33 1 50 83 1 50 84 103 73 7,374 58 25 00 7,500 00 1 pr. ct. 12 50 ^ pr. ct. 12 50 152 50 5,000 00 5,000 00 152 50 1 70 00 30,000 00 1 Carried for ■ ward, . . . . $1,742,033 97 152 TABLE V. — (Continued.) De. Vermont Central Railroad Company in No. Time. Where discounted for Mr, Quincy. Amount Borrowed by Vt. Central. Brought forward. $1,742,033 97 June 13, Note, On Demand, Vt. & CanMa R. R. Company, 13,000 00 ^ 14' U Willis & Co 14,000 00 “ 16, u U Vt. & Canada R. R. Company, 4,000 00 “ 17, u 898 8 months, Willis & Co 10,000 00 » 17, u 899 (( ' S. Brown & Son, 6,000 00 “ 18, u On Demand, C. A. Read, 3,500 00 “ 19, u (( Willis & Co 1,411 95 “ 19, u 900 U S. Brown & Sons, 6,373 67 “ 19, u 901 4 months, Willis & Co 13,000 00 “ 20, u 902 6 months, Mervin & Gould, 10,000 00 “ 20, u On Demand, G. B. Upton, 4,500 00 “ 23, u 903 24th, 6 months, Mervin & Gould, 5,000 00 “ 24, u On Demand, Bank of Commerce, . . 10,000 00 “ 25, u Vt. (Sc Canada R. R. Company, 9,000 00 “ 25, U New England Bank, 4,000 00 “ 26, u 904 23d, 6 months, Willis & Co 5,000 00 “ 27, u On Demand, Vt. & Canada R. R. Company, 4,000 00 “ 30, u James C. Dunn, 20,000 00 July 1, U V. C. R. R. Companv, 4,000 00 “ 1, U H. H. Hunnewell, 23,759 83 « 2, u (( Vt. (Sc Canada R. R. Company, 19,908 88 “ 3, u u Bank of Commerce, 10,000 00 “ L 917 6 months, S. G. Williams & Son, 10,000 00 « 7,. 918 “ 3,000 00 “ 7, 919 5th, G months, U 1,042 38 8,, u On Demand, J. E- Thayer & Bro 35,000 00 “ 9, u u 1 u 15,000 00 “ 10, u n .Tames C. Dunn, . . 20,000 00 “ 9, U- 924 6 months, Willis & Co 6,000 00 “ 10, u On Demand, ,T. A. Underwood Rr. Son 10,000 00 “ 12, u u ( New England B’k, Geo. B. ) S5 000 00 1 Upton, and E. P. Clark, . . ) OOjVvV vV/ “ 12, iC Willk & Co 6,000 00 ‘‘ 14, Uncertain, 2,000 00 “ 15, u U .T. E- Thayer Rr. Bro. 20,000 00 » 17, U- u 20,000 00 “ 17, c. it TTnderwood Rr. Son 7,000 00 “ 22, (( Uncertain, 4,500 00 “ 24, IC / . Crocker (Sc Brewster, 5,500 00 » 24, Jno. W. Shn.w Rr. Co. 1,933 50 Carried forward, $2,143,464 18 TABLE V.— (Continued.) 153 Loan Account with Jonah Quincy^ Jr. Cr. When re- turned to him by the Vt. Central. Rate of Interest. Brokerage. Extra Interest. Simple Interest. Amount returned by Vt. Central. Bro’ght for iward, . . . . $1,742,033 97 13,000 00 June 27 6 pr. ct. 6 pr. ct. 6 pr. ct. 8 pr. ct. 8 pr. ct. 6 pr. ct. 6 pr. ct. 8 pr. ct. 8 pr. ct. 8 pr. ct. 6 pr. ct. 8 pr. ct. 6 pr. ct. 8 pr. ct. 6 pr. ct. 8 pr. ct. 8 pr. ct. 40 44 “ 27 40 44 14,000 00 4,000 00 “ 27 9 77 “ 27 i pr. Ct. $25 00 ^ pr. ct. 15 00 $101 67 305 00 10,000 00 “ 27 61 00 183 00 6,000 00 “ 27 5 25 3,500 00 “ 27 2 51 1,411 95 5,373 67 13,000 00 “ 27 i pr. ct. 13 43 k pr. ct. 32 50 4I pr. ct. 25 00 2 39 7 16 “ 27 88 83 266 50 “ 27 101 67 305 00 10,000 00 4,500 00 5,000 00 10,000 00 “ 27 “ 27 1 pr. ct. 12 50 51 11 153 33 “ 27 5 00 “ 27 1 00 3 00 9.000 00 4.000 00 5.000 00 July 1 4 00 1 pr. ct. 12 50 50 00 150 00 “ 28 22 67 4.000 00 15,000 00 5.000 00 4.000 00 “ 30 July 2 “ 12 “ 25 6 pr. ct. 6 pr. ct. 7 33 10,546 67 10,000 00 3,213 16 7,700 00 “ 29 ( Under > charg’d Aug. 5 July 3 5 12 pr. ct. 107 60 io7 60 pd. but $207.28, . . . 8 pr. ct. 8 pr. ct. 9 pr. ct. 9 pr. ct. 9 pr. ct. 2 46 7 39 12,208 88 “ 5 1 11 3 33 10,000 00 10,000 00 3,000 00 1,042 38 7,852 18 Nov. 12 “ 12 “ 12 July 8 ^ pr. ct. 25 00 i pr. ct. 7 50 i pr. ct. 2 60 152 50 305 00 45 75 15 72 i 91 50 i 31 44 1 9 15,000 00 10,318 33 “ 11 Aug. 5 6 pr. ct. ’16 20 1 1,829 49 July 12 18 ! 5,965 39 7,000 00 “ 21 2,000 00 ,34 61 Aug. 5 July 10 “ 11 6 pr. ct. 17 6.3 8,566 00 4,500 00 “ 12 Aug. 5 Nov. 12 July 17 15 “ 19 21 “ 22 4,512 67 6 pr. ct. 8 pr. ct. 6 pr. ct. 12 75 183 00 11 67 2,421 33 4 pr. ct. 15 00 61 60 6,000 00 ! 10,000 00 27.505 00 3,500 00 8 pr. ct. 7 94 ’2.3 8.3 1 3,995 00 5,011 11 “ 28 Aug. 2 “ 5 . . 1 441 00 363 03 12 pr. ct. 12 pr. ct. li bk ! 25 .33 1 1 55 25 .33 184 86 Sep. 30 July 23 20 “ 24 “ 31 Aug. 2 July 24 Aug. 2 July 23 Aug. 5 July 29 Aug. 5 5 2,000 00 15,000 00 '29 17 ’29 17 5,000 00 10,000 00 12 pv. ct. 8,535 00 12 pr. ct. kb 49 kb 49 1,465 00 5,01.3 33 12 pr. ct. ii 15 ii i5 1,986 67 2,500 00 3 pr i 69 ' b 09 2,000 00 6,018 90 12 pr. ct. ’5 1.5 2 oT 6 15 481 10 .3 86 1,9.33 60 iU pj . Ul • darned fon ward, .... $2,143,464 18 T 154 TABLE V. — (Continued.) Pr. Vermont Central Railroad Company in No. Time. "Where discounted for Mr. Quincy. Amount borrowed by Vt. Central. Brought forward. $2,143,464 18 July 26, Aug. 4, “ 6, Note, On Demand, E. G. Loring, 1,000 00 3,102 22 1,000 00 Uncertain, t; U “ 7, u 1010 6 months, S. G. Williams & Son, 5,000 00 “ 8, u Uncertain, 1,486 79 5,925 00 13,800 00 5,000 00 “ 9? u Robert F. Fiske, “ i£ Willis & Co » 13, 1043 U P. P. F. Degrand, “ 20, “ 1042 6 months, I 3,000 00 “ 23, (( On Demand, ’ Robert F. Eiske, 1,400 00 5,000 00 5,000 00 4,200 00 “ 27, U U 1 Union Bank, “ 27, u N. Peirce, Sept. 6, U U P. P. F. Degrand, “ 8, U James C. Dunn, 3,690 70 1,000 00 “ 10, U u P. P. F. Demand, “ 11, u J. E. Thayer & Bro 6,000 00 » 13, (C U 10,000 00 » 13, u Exchanere Bank, 20,000 00 4,284 85 6,000 00 “ 13, u Uncertain, » 13, 1108 1 P. P. F. Degrand, “ 13, 1109 6 months, | 3,000 00 “ 17, u On Demand, 1 C. A. Read, 6,000 00 7,500 00 5,000 00 “ 22, u u G. Dnvis Trefisnrp.v “ 23, u 1150 3 months, S. G. Williams & Son, “ 23, u On Demand, Uncertain, .... 1,800 00 “ 27, » 1162i 232 00 Oct. 15, u 1,000 00 Dec. 24, il U u 525 00 $2,273,410 74 TABLE V. — (Continued.) 155 Loan Account with Josiah Quincy^ Jr. Cr. When re- turned to him by the Vt. Central. Rate of Interest. Brokerage. Extra Interest. Simple Interest. Amount returned by Vt. Central. Bro’ght for $ 56 ward, .... $2,143,464 18 1,000 00 3,102 22 Aug. 5 Sep. 30 Aug. 8 Sep. 20 “ 23 Nov. 12 8 pr. ct. 12 pr. ct. $1 67 29 47 29 47 500 00 105 92 10 pr. ct. 18 pr. ct. ^ pr. ct. $12 50 2 74 305 00 ’ *4 12 152 50 pd. J. Q., Jr. $9.80, 394 08 5,000 00 Sep. 15 Aug. 15 Sep. 16 “ 23 18 pr. ct. 18 82 9 41 1,486 79 5,000 00 96 46 6 pr. ct. *ii 81 828 54 Aug. 12 “ 16 10,000 00 1,000 00 2,534 92 “ 21 Sep. 23 “ 29 15 pr. ct. 24 pr. ct. 12 90 8 60 265 08 ^ pr. ct. 25 00 ^ pr. ct. 15 00 117 51 39 17 5.000 00 3.000 00 1,400 00 5.000 00 3,299 75 Nov. 12 183 00 91 50 Sept. 1 “ 16 9 pr. ct. 18 pr. ct. 1 05 2 10 31 67 15 83 Aug. 30 Sept. 1 “ 15 289 85 1,000 00 410 40 “ 16 18 pr. ct. 12 86 ' *6 43 “ 11 2,876 56 1,323 44 “ 23 24 pr. ct. *18 45 *6 15 “ 12 3,000 00 690 70 “ 20 6 pr. ct. 24 pr. ct. ' 3 38 “ 23 ' *6 50 2 17 1,000 00 5,000 00 “ 30 No Interest paid, . . U “ 30 10,000 00 “ 17 “ 22 6 pr. ct. *13 33 20,000 00 4,015 00 » 23 U oo Nov. 12 Sep. 22 “ 23 18 pr. ct. 6 pr. ct. 18 pr. ct. 18 pr. ct. 12 94 6 47 269 85 J pr. ct. 30 00 ^ pr. ct. 15 00 30 00 183 00 10 00 10 00 6,000 00 91 50 3,000 00 5 00 6,000 00 1,863 22 “ 24 5,000 00 “ 27 18 pr. ct. ”5 02 * *2 51 636 78 protest, 2 00 i pr. ct. 12 50 4 d’ys, 3 33 77 50 5,000 00 Dec. 30 24 pr. ct. 232 50 Sep. 26 “ 27 Nov. 12 Oct. 23 1,000 00 24 pr. ct. 6 pr. ct. 18 pr. ct. * ’3 09 ' 1 03 800 00 1 78 1 33 232 00 ’ *2 67 pd. but $3.00, 1,000 00 Nov. 25 No Interest paid, . . 525 00 1 1 $2,273,410 74 < Over \ charg’d Under charg’d Under charg’d C Under ( charg’d (Under I charg’d 156 TABLE V. — (Continued.) STATEMENT IX CONNECTION 1849. Dec. 10, Check, No. 289, payable Dec. 22d, for $10,000, was cashed by Willis & Co., and the Interest was paid him to Dec. 22d, by the "Company, ilr. Quincy held this Check, and gave Willis lais own Check, payable at the same date, (22d,) and paid it on that day. The Company’s Check was not paid to Mr. Quincy until .Jan. "ist, and therefore Interest was due him/>-o//i Dec. '22d to Jan. 1st; instead of Avhich, he received Interest from the time the $10,000 was originally borrowed, (Dec. 10th.) making an over charge of Interest tor 12 days, namely, from the 10th to the 22d, (previous^ paid Willis & Co.) " L Dec. 10, Check, No. 290, payable Dec. 29th, for $10,000, was cashed by Willis & Co., and the Interest paid them by the Company to that Aate, (Dec. 29th.) Li the same manner as in the case "above, Mr. Quincy receh^ed the Interest from Dec. 10th, (Avhenthe Company’s Check was settled Avith him,) instead of from Dec. 29th, to AA'"hich date the Interest had been paid Willis & Co., making an over charge of Interest for 19 days, $20 00 31 67 Dec. 23, 1850. Apr. 9, Check, No. 498, payable Dec. 25th, for $6,000, and also for $40.88 Interest on a preAdous Check which it took up, was receiA'ed by Mr. Quincy, (for one that he gave to AVillis & Co. for the same amount, and paid on the 25th.) The Interest Avas paid to the 25th to Willis & Co. by the Company when the Check was giA’^en. ^Vhen the Company's Check Avas paid Mr. Quincy, he received Interest from the 23d instead of the 25th, to Avhicli date Interest had been previouslv paid Willis & Co., making an over charge of 2 days’ Interest, Note, No. 435^, Mr. Quincy receh-ed Interest $6.68 instead of $6.41, the correct amount, mak"iDg an OA'er charge of 2 00 27 Oct. 14, 1851. Aug. 6, Note, on demaini, for $20,000, !Mr. Quincy received Interest and Brokerage $34.94 instead of $33.78, the proper amount, making an over charge of. 1 16 Note, on demand, for $1,000, Mr. Quincy received interest $9.80 mstead of $6.86, the proper amoimt, being an over charge of 2 94 Amount of errors to debit of J. Quincy, Jr. $58 04 TABLE V. — (Continued.) 157 WITH THE FOREGOING TABLE. 1850. Apr. 4, July 27, Dec. 23, 1851. Jan. 6, “ 13, Apr. 11, July 1, Sep. 11, “ 13, Oct. 15, Dec. 24, On the following Notes Mr. Quincy has received less Interest than he was entitled to : — Note No. 430|, $5.07 charged, should be $6.07,. U “ 6471, .70 “ (( 44 .77,, U for $4,854.06, 11.40 “ 44 44 13.06,, » 9,000.00, 17.03 “ 44 44 17.47,, “ 6,000.00, .00 “ » 1.00,. u No. 874, 1,294.61 “ ^44 44 1,295.72,, u for $23,759.83, 207.28 “ 44 44 215.20, u “ 5,000.00, O o 44 44 15.83, “ 10,000.00, o o 44 “ 28.33, “ “ 1,000.00, 3.00 44 “ 4.00, “ 625.00, O o 44 .09, Amount of errors to credit of J. Quincy, Jr. $1 00 07 1 66 44 1 00 1 11 7 92 15 83 28 33 1 00 09 $58 45 158 TABLE V. — (Continued.) The Notes settled upon the 27th June, 1851, according to the Table, were (with the exception of No. 846, which matured on that day, and was paid in due course ; and also with the exception that $5,000 of the $7,374.58 paid on Note of 4th June, 1851, was paid in cash previous to the settlement below stated,) used by Mr. Quincy, who held them, to ofiset Notes due from him to the Company, as follows : — Mr. Quincy called his own Notes, (due to the Company,) payable Aug. 25th, 1851, $309,270 00 From which was deducted for pre-payment on the 27th June, 1851, 59 days’ Interest at 6 per cent., 3,041 15 $306,228 85 He paid the balance left after the ofiset below, in cash, 101 02 $306,127 83 He transferred to the Company in oflTset as follows : — Notes. Amount. Dr, Interest. Cr. ] [nt. charged by Mr. Quincy. No. 756, Dec. 28, 1850, on demand, $10,643 10 $428 08 8 per cent. “ 847, Mar. 26, 44 44 10,000 00 281 65 11 per cent. Bal. of May 20, “ 21, “ “ 1,060 61 147 23 9 per cent. 44 44 14,501 25 134 14 9 per cent. (( 21, 44 44 9,667 50 113 60 ( 9 per cent, and ^ ( per cent. Brokerage. Bal. of June 4, 44 44 2,374 58 138 31 8 per cent. 46 4, 44 44 19,474 38 99 53 8 per cent. 44 7, 44 44 7,500 00 33 33 8 per cent. it 13, 44 44 30,000 00 70 00 6 per cent. 44 13, 44 44 13,000 00 40 44 8 per cent. 44 14, 44 44 14,000 00 40 44 8 per cent. 44 16, 44 44 4,000 00 9 77 8 per cent. 44 18, 44 44 3,500 00 5 25 6 per cent. 44 19, 44 44 1,411 95 2 51 8 per cent. No. 900, it 19, 44 44 5,373 67 9 55 8 per cent. 44 20, 44 44 4,500 00 5 25 6 per cent. 44 24, 44 44 10,000 00 5 00 6 per cent. 44 25, 44 44 9,000 00 4 00 8 per cent. No. 855, Note due July 4, 1851, . . 5,000 00 $5 83 “ 845, 44 44 “ 29, “ . . 10,000 00 53 33 “ 856, 44 44 Aug. 4, “ 5,000 00 31 67 “ 875, 44 it “ 21, “ . . 10,000 00 91 67 “ 844, 44 44 “ 27, “ . . 10,000 00 100 00 “ 878, 44 44 “ 27, “ .. 10,000 00 50 00 “ 838, 44 44 Sep. 20, “ . . 5,000 00 70 00 “ 870, 44 44 Oct 12, “ .. 3,000 00 52 50 “ 871, 44 it “ 12, “ .. 5,000 00 87 50 Interest allowed “ 901, 44 ti » 22, “ . . 13,000 00 249 17 “ 848, 44 Nov. 29, “ .. 2,500 00 63 33 at 6 per cent. “ 896, it tt Dec. 10, “ 5,000 00 135 83 “ 897, 44 44 “ 10, “ . . 5,000 00 135 83 “ 898, 44 44 » 20, “ . . 10.000 00 288 33 “ 899, 44 ti “ 20, “ . . 6,000 00 173 00 “ 902, 44 44 “ 23, “ . . 10,000 00 293 33 “ 904, 44 44 “ 26, “ .. 5,000 00 149 17 “ 903, it ti “ 27, “ .. 5,000 00 150 00 “ 874, Deduct “ “ Apr. 14, 1852, . . Bal. of Int. to his debit, . . 12,850 00 $307,357 04 1,229 21 bal. 1,229 21 616 80 1 $306,127 83 $2,797 29 $2,797 29 TABLE V. — (Continued.) 159 There were several matters in this settlement which were not correct. First. Mr. Quincy’s Notes due to the Company, were not all payable Aug. 25, 1851. These Notes were of the following tenor : Number. Date. When due. Amount. 84 85 Aug. 22, 1850, On Op.mnnH $41,585 00 207,925 00 1 8,725 00 43,625 00 1,235 00 6,175 00 “ 22, “ 12 months, 136 U 99; U On Dema.nd, 142 » 22 ’ “ 12 months, 145 On l)p,ma,ri4, 146 » 22, “ 12 months, $309,270 00 It will be noticed that some of these Notes were on time, and the remainder, amounting to $51,545, were on demand; and these last, Mr. Quincy should have considered as bearing Interest from May 1, 1851, according to his contract of that date with the Company, stipulating “ that they should bear Interest from the time when his compensation, for acting as Treasurer of the Company, should be determined upon.” Second. But $50 Interest was allowed by him to the Company on Note No. 878, for $10,000, having two months to run from June 27, which Interest should have been $100. Third. The Notes on time^ due from the Company, which Mr. Quincy passed to them, discounting Interest at the rate of six per cent., in part offset for his Note due to the Company, were Notes which the Company had given for cash, and which had been discounted at a large rate of Interest. When the discounts were obtained, Mr. Quincy retained these Notes of the Company, giving to the purchasers 1m own Notes payable at the same dates as the Notes retained. Now the Company, having paid a large amount of Interest in order to have the use of the money for a number of months, were, if called upon by Mr. Quincy to discount those same Notes, entitled to receive as much Interest as they had paid upon them, except on such as matured between June the 27th and the day on which Mr. Quincy’s time Notes would have matured, (viz., Aug. 25th.) Mr. Quincy could claim to the 25th of August to pay his time Notes, and might then have passed to the Company in offset such of these Notes of theirs as had matured up to that date ; but if he called upon them to receive such as had not matured as cash, he should have allowed them as discount, from Aug. 25 to the time of their maturity, the same which the Company had paid as discount upon them when they obtained the cash originally. This would have been but reasonable, as Mr. Quincy could not have paid his Notes in cash., when due on the 25th of August, 160 TABLE V. — (Continued.) without raising the money at a discount as large as that which is here claimed to be due from him to the Company upon these Notes used in offset. On the following Notes, therefore, Mr. Quincy should have allowed the rates of Interest which the Company had paid upon them, as shown in the sketch below, these being Notes maturing at dates subsequent to the maturity of his own “ time Notes.” No. When due.* Amount. Rate paid by the Company. Time from Aug. 25. 1 Simple Interest. Extra Interest. 844 Aug. 27, 1851, $10,000 00 9 per cent. 2 days. 1 $3 33 $1 67 878 “ 27, “ 10,000 00 9 per cent. 2 “ 3 33 1 67 838 Sept. 20, “ 5,000 00 9 per cent. 26 u 21 67 10 83 870 Oct. 12, “ 3,000 00 9 per cent. 1 month. 17 “ 23 50 11 75 871 “ 12, “ 5,000 00 10 per cent. 1 (( 17 “ 39 17 26 11 901 “ 22, “ 13,000 00 8 per cent. 1 ii 27 “ 123 50 41 17 848 Nov. 29, “ 2,500 00 9 per cent. 3 U 4 “ 39 17 19 58 896 Dec. 10, “ 5,000 00 8 per cent. 3 (( 15 u 87 50 29 17 897 “ 10, “ 5,000 00 8 per cent. 3 Ci 15 (( 87 50 29 17 898 “ 20, “ 10,000 00 8 per cent. 3 a 25 u 191 67 63 89 899 “ 20, “ 6,000 00 8 per cent. 3 u 25 “ 115 00 38 33 902 “ 23, “ 10,000 00 8 per cent. 3 it 28 “ 196 67 65 56 904 “ 26, “ 5,000 00 8 per cent. 4 u 1 u 100 83 33 61 903 “ 27, “ 5,000 00 8 per cent. 4 u 2 101 67 33 89 874 Apr. 14, 1852, 12,850 00 10 per cent. 7 u 20 u 471 17 314 11 $720 51 It thus appears that Mr. Quincy should have allowed to the Company the further ' amount of Interest $ 720.51, such being the difference between the 6 per cent, actually allowed by him, and the rate which they paid through him as Treasurer, to obtain the money on tliese same Notes. It will therefore be found, that in this settlement the Company has been over charged to the following amounts : — First. Error in casting Interest on the three demand Notes against Mr. Quincy, it being entirely omitted from May 1 to Aug. 25, 1851, being 116 days at C per cent, on $51,545, $996 54 Second. Error in casting Interest on Note No. 878, for 1 month instead of 2 months, being ^ per cent on $10,000, 50 00 Third. In casting Interest on sundry Notes, as shown above, at 6 per cent., instead of computing it at the rates paid by the Company from Aug. 25, 1851, to maturity, 720 51 Amount of errors to debit of J. Quincy, jr. $1,767 05 TABLE V.— (Continued.) 161 \ The Notes settled Nov. 12, 1851, shown by the Table, were passed to the Company by Mr. Quincy in offset for sundry Notes of his, held by the Company, payable on demand, for money loaned to him. Like those last spoken of, these Notes had been retained by him, when issued for discount by the Company, his own Notes payable at the same dates having been given to the discounters. This settlement with the Company was made by Mr. Quincy in the following manner. The Company held his Notes, on demand, as follows : Sept. 1, 1851,. . Less endorsed. $ 10,000 00 7,147 64 Interest to Nov. 12, f end. Sep. 13, $2,500.00, Int. fori mo. 27 days, $23.25. 1 I *< Oot. 4. 4,647.64, “ “ 1 “ 8 “ 29.43, | Mos. Days. 2 11 Sept. 11,.1851, “ 13, “ “ 24, “ “ 27, “ “ 27, “ “ 30, “ Oct. 1, “ “ 24, “ $2,852 36 Balance of Interest, 12,000 00 Interest to ^ Nov. . 12,. 2,000 00 u U 12,. 5,000 00 U u 12,. 500 00 U (C a 12,. 1,651 57 u u u 12,. 2,000 00 u u u 12,. 5,000 00 u u u 12,. 1,400 00 a u 12, 2 1 2 . . 1 19 1 16 1 16 1 13 1 11 , . 19 $32,403 9,3 I $118 33 53 18 65 15 122 001 20 001 40 83 3 83 12 66 ! 14 331 34 17, 4 43 $317 40 Making the am’t due from Mr. Quincy. $32,721 33 Mr. Quincy cancelied this debt as follows, with the Company’s Notes : No. When due. Amount. At Six per Cent. 917 Jan. 10, 1852, $10,000 00 Less Interest, Mos. Days. 1 29 $99 33 918 “10, “ 3,000 00 U U 1 29 29 50 919 “ 8, “ 1,042 38 u u 1 27 9 90 924 “ 12, “ 6,000 00 U (( 1 28 58 00 1010 Feb. 10, “ 5,000 00 u u 2 29 74 17 1042 “23, “ 3,000 00 u u O 11 50 50 1109 Mar. 16, “ 3,000 00 u a 4 4 62 00 1162^ Sep. 27, 1851, on demand, 232 00 Add. Interest, 1 16 $383 40 J. 78 And Cash, Making the ain’t, deducting the 1,828 57 $33,102 95 discount, . . Less Literest, , f $381 62 $32,721 33 With respect to this settlement, the following remarks may be made. First. As Mr. Quincy calculates Interest by days instead of months on his loan? U 162 TABLE V. — (Continued.) upon demand to the Company, it is right that Interest should be so cast upon demand Joans made to him by the Company. Second. On Note No. 917 the Interest is erroneously cast, and on Note No. 924, no grace has been allowed by him. Third. The time Notes of the Company, held by him, and used to offset his Notes on demand held by them, are subject to the same remarks made upon the time Notes embraced in the settlement of June 27, 1851, previously referred to. If Mr. Quincy required the Company to discount them before maturity, he should have allowed them such rate as had been paid on them when cashed. The settlement would then have resulted as follows : Balance of Note Sept. 1, 1851, on demand. Endorsed Sep. 16, $2,500.00 ( “ Oct. 4, 4,647.64 f Note Sep. 11, 1851, on demand, u “ 13, “ “ “ “ “ 24, “ “ “ “ “ 27, “ “ “ “ 27, “ “ “ 30, “ “ “ “ Oct. 1, “ “ “ u 44 24, “ “ “ Less Note of Sept. 21 the Company, Making the am’t due Nov. 12, 1851, with Interest Amount. $10,000 00 ] 7,147 64 $2,852 36 12,000 00 . 2,000 00 5,000 00 500 00 1,651 57 2,000 00 5,000 00 1,400 00 CO o of CO 93 232 00 $32,171 93 Interest, Less Lat., $23.75 | “ “ 30.21 j Balance of Interest, st for 62 days, » 60 “ 44 4 9 44 44 46 44 44 4 6 44 44 43 44 44 42 44 44 49 44 and Int. for 46 days. $120 00 53 96 $66 04 124 00 20 00 40 83 3 12 66 14 33 35 00, 4 43 $321 12 1 78 $319 34 $32,491 27 Instead of this, Mr. Quincy gave the Company, No. j Amount. i Interest paid by the Company. i Time from Nov. 12. j 919 Cash, Nov. 12, 1851,. . . . Note, due Jan. 8, 1852, $1,828 57 1,042 38 9 per cent. ! 1 month, 27 da vs, $14 85 917 44 44 44 40 ^ 44 10,000 00 9 per cent. 1 1 44 29 “ 147 50 918 iC U U 3,000 00 9 per cent, 1 “ 29 “ 44 25 924 44 44 44 42 ^ 44 6,000 00 8 per cent. 2 “ 0 “ 80 00 1010 “ “ Feb. 10, “ 5,000 00 18 per cent. 2 “ 29 “ 222 50 1042 44 44 44 23, » 1 3,000 00 18 per cent. 3 “ 11 » 151 50 1109 “ “ Mar. 16, “ : j 3,000 00 18 per cent. 4 44 4 44 186 00 i 1 * i ! $32,870 95 Less Interest, $846 60 ! $32,024 35 Leaving Mr. Quincy indebted to the Company to the amount of ... . $466.92 TABLE V. — (Continued.) 163 On the 8th of December, 1851, Mr. Quincy purchased of the Company $102,400 of their First Mortgage Bonds, at the following prices : $100,000, a 85^,...'. 2,400, a 90, Interest, a 7 per cent., due on Coupons from Nov. 1 to Dec. 8. Cash paid him to balance the account, $85,125 00 2,160 00 736 71 20 30 Mr. Quincy, settled for these Bonds by giving up some Vermont Central Notes in his possession, thus : Treasurer’s Note of July 28, 1851, “ “ “ Aug. 4, “ 0. Kimball’s Acceptance, due Aug. 14, 1851, Treasurer’s Memorandum of Sept. 27, “ “ Check “ “ 27, “ (( u (t n 27 ii u li it 2Q “ “ “ “ “ 30,’ “ !!!!!!!!!!!!! Interest, a 6 per cent, on above to Nov. 1, 1851, “ a 7 “ “ “ “ “ Dec. 8, “ from Nov. 1, $8,000 00 5,000 00 900 00 50,000 00 5.500 00 6.500 00 6,176 40 5,000 00 420 82 544 79 $88,042 01 $88,042 01 In this settlement. Interest was erroneously computed ; the last charge being correctly cast if he is allowed 7 per cent., but the charge of Interest to Nov. 1 st is wrong, for he received tlie Memorandum Checks of $50,000 and $6,176.40 of Willis & Co. in part payment for Stocks, sold by them for his account, and this Company had paid Willis & Co. the Interest on these Checks to Oct. 30th, 1851, as shown on their books and by the Voucher on file with the Company’s papers. Mr. Quincy, therefore, could claim Interest only from Oct. 30th upon them. This settlement should have been made thus, (premising, however, that the Acceptance was due Aug. 1 7th, not 14th :) Kimball’s Acceptance, due Aug. 17, ... . Treasurer’s Memorandum, from Oct. 30, “ Check, “ “ 30, “ “ “ Sept. 27, u u u 27 “ “ “ “ 30’ Note, July 28, 4 mos., due Dec. “ Aug. 4, 4 “ “ “ Face of Notes, $900 00 Interest to Nov. 1, $11 25 50,000 00 “ ‘‘ “ 1, 16 66 6,176 40 “ “ “ 1, 2 06 5,500 00 “ “ “ 1, 32 08 6,500 00 U U U 1 37 92 5,000 00 “ “ “ 1, 26 67 $74,076 40 Int. from Nov. 1, at 7 pr. ct. . 532 93 8,000 00 “ “ “ 1, at 7 “ 10 89 5,000 00 “ “ “ 1, at 7 “ 97 $87,076 40 and Interest, $671 43 Adding these together, we should have $87,747.83, instead of $88,042.01. This makes his payment short, $294 18 In the payment by the Company to Willis & Co., Oct. 30th, 1851, Interest was included on two Notes of Mr. Quincy’s, which he should have paid himself, 30791 Amount of error to debit of J. Quincy, Jr. . . $602 09 164 TABLE V. — (Continued.) Dk. JosiaJi Quincij^ Jr. in IjO'IU Account icitli -• 1849. Sep. 29, Oct. 4, “ Dec. 8, “ 12 , » 14, “ 17, 1850. Jan. 9, “ 18, “ 22 , May 28, July 16, “ 18, Aug. 24, “ 29, Sept. 5, “ 25, Oct. .31, Nov. 11, Note, on demand,. $7,000 00 4,534 92 2,000 00 8,906 25 4.000 00 20,000 00 1.500 00 10,000 00 8.000 00 5.000 00 10,000 00 9.000 00 3.000 00 1,600 00 2.500 00 20,303 33 1.000 00 13,427 50 27,983 50 “ 14, Dec. 12, “ 26, 2,000 00 15,015 00 35,000 00 “ 27, 1851. Feb. 4, “ 5, 4,000 00 32.000 00 10.000 00 “ 10 , “ “ “ “ 10 , “ “ “ “ 20, “ “ “ 10,000 00 10,000 00 17,138 00 “ 21 , “ 24,. » 25, Apr. 15, “ 21 , “ 22 , “ 29, “ 30, May 15, July 5, “ Aug. 5, 10,150 00 2,281 97 7,500 00 1,182 90 N 13,200 00 on 12 montbP, from Aug. 22, 1851, with Interest, 12 “ » » 22 , » “ 12 « « “ 22 “ 1,000 00 10,000 00 984 00 2,805 71 16,790 16 5,500 00 10,000 00 29.258 00 179,150 45 60,000 00 Carried over,. $634,711 69 TABLE V. — (Continued.) 165 the Vermont Central Railroad Company. Cr. Eate of Interest. Simple Interest. Extra Interest. 1849. Oct. 31, 6 per cent. $37 33 “ 27, 6 per cent. 17 38 “ 29, 6 f)er cent. 6 67 Dec. 17, 6 per cent. 13 35 “ 17, 6 per cent. 3 33 “ 15, “ 17, 6 per cent. 6 67 “ 17, 6 per cent. 00 1850. Feb. 12, 12 per cent. 55 00 55 00 Apr. 30, 12 per cent. 136 00 136 00 “ 30, 12 per cent. 81 66 81 66 July 9, 12 per cent. 68 33 68 34 Oct. 9, 6 per cent. 124 50 Sep. 12, 6 per cent. 27 50 “ 12, 9 per cent. 5 07 "2 .54 Oct. 9, 6 per cent. 16 67 Sep. 12, 6 per cent. 23 69 Oct. 8, 6 per cent. 2 17 1851. June 30, 9 per cent. 537 08 268 54 1850. Nov. 13, Dec. 7, “ 16, “ 19, “ 21, “ 23, 6 per cent. 126 76 “ 16, 6 per cent. 10 67 “ 16, 6 per cent. 10 01 » 26, “ 31, 1851. Jan. 1, 6 per cent. 19 33 “ 1, 6 per cent. 3 33 Feb. 13, 9 per cent. 48 00 24 00 “ 10, “ 11, “ 13, 9 per cent. 'ii 00 "5 50 “ 13, 9 per cent. 5 00 2 50 “ 11, 6 per cent. 1 67 “ 19, “ 20, “ 22, 6 per cent. '*4 04 “ 22, 6 per cent. 1 69 “ 27, 6 per cent. 1 14 “ 27, Mar. 4, 6 per cent. ’ 4 40 Apr. 17, 6 per cent. 39 “ 25, May 1, 10 per cent. 7 20 "4 80 “ 1, 6 per cent. 1 50 Apr. 30, 6 per cent. 1 67 May 1, 6 per cent. 16 June 4, 6 per cent. 9 35 July 5, “ 8, 8 per cent. .3 39 ”i 13 Aug. 6, 10 per cent. 26 57 17 70 » 23, Sep. 30, 10 per cent. ioi 09 67 39 Aug. 22, 6 per cent. 82 83 “ 22, 6 per cent. 477 73 “ 22, 6 per cent. 116 67 1 Carried for ward, Received but $12.85, Received $137.67, Received but $2.00, Received .00, Received but $167.41,, “ . 00 , “ - 00 , » . 00 , $7,000 00 4,534 92 2,000 00 8,906 25 4.000 00 10,000 00 10,000 00 1.500 00 10,000 00 8.000 00 5.000 00 10,000 00 9.000 00 3.000 00 1,600 00 2.500 00 20,303 33 1.000 00 13,427 50 7.000 00 6.000 00 2,964 32 2,000 00 5.000 00 5,019 18 2.000 00 15,015 00 14.000 00 10.000 00 11,000 00 4.000 00 32.000 00 3.000 00 2.500 00 4.500 00 10.000 00 10,000 00 3.000 00 500 00 13,038 00 10,150 00 2,281 97 5,216 89 2,283 11 1,182 90 10,000 00 3,200 00 1.000 00 10,000 00 984 00 2,805 71 10,000 00 6,790 16 5.500 00 6,040 00 3,960 00 29,258 00 179,150 45 50,000 00 $634,711 69 166 TABLE V. — (Continued.) Dr. Josiah Quincy^ Jr. in Loan Account with Aug. 20, “ 21 , “ 25, Brought forward, Note, on 12 months, from Aug. 22, 1851, with Interest,, a u 22 “ “ “ 22, “ “ “ “ “ demand, $634,711 69 8,581 55 15,500 00 13,547 25 “ 27, “ “ 28, “ Sept. 1, “ “ 12 months, from Aug. 22, 1851, with Interest,, “ 12 “ » “ 22, “ “ “ “ demand, 14,780 00 12,000 00 10,000 00 “ 11 , “ “ u 13^ u » “ 24, “ “ “ 27, “ “ “ 27, “ “ “ 30 ,^ “ “ Oct. 1, “ “ “ 7, “ “ 12,000 00 2,000 00 5.000 00 1,651 57 500 00 2.000 00 5,000 00 600 00 u (( « 1,200 83 24, (( (C 1,400 00 Dec. 24, “ 5,000 00 $745,472 89 All of the sums borrowed as above of the Company by Mr. Quincy, were used to meet his private debts. TABLE V. — (Continued.) 167 the Vermont Central Railroad Compariy. Cr. Rate of Simple Extra Interest. Interest. Interest. Aug. 22, “ 22 , Sept. 2, J.U, Oct. 4, Aug. 22, “ 22 , Sep. 16, Oct. 4, Nov. 12, “ 12, “ 12, “ 12, “ 12 , “ 12, Oct. 9, 6 per cent 6 per cent 18 per cent 6 per cent 6 per cent 6 per cent 6 per cen1 6 per cen1 6 per cent 6 per cent 6 per ceni 6 per ceni 6 per cent Brought for $2 86 2 58 ward. Received .00, “ . 00 , 30 65 00 00 61 30 Received but $90.54, Due him, $12.32, . . . “ “ $ 12 . 00 , . . . 65 15 122 00 20 00 40 83 12 66 3 83 14 33 34 17 $643,711 69 8,581 55 15,500 00 500 00 1,966 00 7,819 43 3.000 00 261 82 14,780 00 12,000 00 2,500 00 4,647 64 2,852 36 12,000 00 2.000 00 5.000 00 1,651 57 500 00 2.000 00 5,000 00 500 00 1852. Feb. 28, 6 per cent. “ 28, 6 per cent. 2 52 27 82 Received $27.98, 100 00 1,200 83 1851. Nov. 12, 6 per cent. 4 43 1,400 00 1852. Feb. 28, 6 per cent. Received .00,. . . , Balance unpaid. 142 81 4,857 19 $745,472 89 168 TABLE V. — (CoNTlNUKD.) Statement in Connection with the Preceding Table. Received on Xotes of Dec. 28, 1849, $12.85, should be $13.35, $ 50 u u u “ Sep. 25, 1850, 2.00, “ 2.17, 17 u a u “ Feb. 10, 1851, .00, 1.67, 1 67 a (C cc “ July 7, li 167.41, U “ 168.49, 1 08 (( (( u “ Oct. 4, 90.54, “ 91.95, 1 41 (i u a “ Aug. ,22, “ .00, u 658.41, 658 41 To debit of Mr. Quincy, $663 24 Received on Note of May 28, 1850, $137.67, should be $136.67, “ “ “ “ Oct. 9, “ 27.98, “ “ 27.82, $1 00 16 To credit of Mr. Quincy, $1 16 The balance of the above two accounts show amount to debit of J. Quincy, Jr $662 08 The loans represented by the Note of Mr. Quincy of Aug. 22d, 1851, were taken by him, as before stated, in accordance with a vote of the Board, which authorised the extension of his Notes given for Stock for one year. Mr. Quincy having, as is previously shown, taken up these Stock Notes, June 27th, 1851, by offsetting the Company’s Notes, held by him against them, obtained tliis extension of one year by drawing the amount of those Notes ($309,270) in Cash from the Company’s funds. But as this extension was to begin Aug. 22d, 1851, if Mr. Quincy took the money (on his Note dated that day) before the 2 2d, he should of course have allowed Interest up the 22d, until which day his Note bore no Interest. The following circumstances connected with this extension also appear. When the Board agreed that this loan should be made, it was also voted that the Stock should remain v,dth the Vermont Central Eailroad Company as Collateral. Afterwards Mr. Quincy was allowed to withdraw 3,962 Shares by substituting Collateral supposed to be its equivalent in value, which was arranged thus ; on the 25th of September, 1851, the Stock was worth about $30 per Share in the Market, and Mr. Quincy gave in the place of 3,962 Shares, worth say $118,860, Vermont Central Railroad Company’s Note, due Dec. “ dem’d Sep. 27 Check, due “ 27 0. Kimball’s Acceptance, due Aug. 7, 1851 32 South Shore Railroad Bonds, at par, ! $8,000 00 1 ! 5,000 00 ! 50,000 00 : 5.500 00 i 6'.500 00 I 6,176 40 5,000 00 900 00 32,000 00 $119,076 40 TABLE V. — (Continued.) 169 These Notes, amounting to $87,076.40, he was allowed to use for the purchase of $102,400 of First Mortgage Bonds, (the price of which was about equal to the amount of the Notes,) on condition that he should substitute the Bonds as security, in place of the Notes withdrawn. This was done ; and it was arranged at that time, that he should be allowed to withdu w these Bonds, or any part of them, if he could dispose of them to advantage, and if he placed, with his Note, Collateral equal to the amount withdrawn. But this was not done. On the 18th of December, 1851, he withdrew and sold $29,400 of these Bonds for $26,765.35, substituting as Collateral only 851 Shares Vermont Central Railroad Stock, then worth in the market $26^ per Share, or $22,338.75. On the 21st of September, 1850, the Company bought, through C. A. Read, 150 Shares Vermont Central Stock. This Stock was by Mr. Read transferred to J. Quincy, Jr., individually, and not as Treasurer, and Mr. Quincy disposed of it by pass- ing it to his credit, his Stock account being then overdrawn to that amount. This should be, therefore, debited to him for the amount obtained for the Stock overdrawn, which, as near as can be ascertained, was $3 If per Share. Amount of error to debit of J. Quincy, Jr., 150 Shares, .... . $4,762 50 V 170 TABLE V. — (Continued.) Dr. Josiah Quincy^ Jr.^ in Exchange Account [Loan) 1850. To r!a,sb $19,964 84 9,600 00 3,736 00 5.000 00 10,000 00 8.000 00 “ 21, u U “ 22, u a “ 24, u u “ 26, u Li Feb. h u u “ 2, u LL 10,000 00 “ 4, u LL 7,544 00 28,862 40 6,522 26 “ 8, u “ . “ 9, u u “ 19, a LL 10,158 33 5,000 00 6,155 63 22,601 25 53,078 91 5,000 00 15,637 96 Mar. 2, u LL “ 4, u LL “ 9, u u “ 13, u Massachusetts Sterling Bonds, Coupons attached, Apr. 22, “ 30, LL U LL • $226,861 58 It will be seen from the above abstract, that the Company received for £43,511 1 7s. 8d. Exchange, the sum of $212,367.37, which cost them, from the manner in which the account was settled with Mr. Quincy, $226,861.58, being a difference against the Company of $14,494.21. But from this a deduction should be made of the amount of the Coupons collected by the Company, and credited to their Interest Account, amounting to $1,200. Also, in the charge to Mr. Quincy of $53,078.91 for the Sterling Bonds, $1,093.35 is included, which was received for previous Coupons, and credited to their Interest Account. These two items being deducted, the balance, showing the cost to the Company of this Exchange Loan will be, Balance as appears from the account above, $14,494 21 Less Coupons collected by the Company, . . . . | | 2,293 35 Actual cost of the Loan, $12,200 86 By averaging the dates of the Exchange loaned the Company, and the dates of their payments for the same, the time for which the loan was made will be seen. The ^ average date of the Exchange Loan, was Sept. 22d, 1849. The average date of the payments on the same, was Feb. 11, 1850. The time of the loan was then 4 months, 20 days, which, at the above cost of $12,200.86, was at the rate of I5 per cent, a month. TABLE V. — (Continued.) 171 with the Vermont Central Railroad Company: ' Cr. 1849. Sep. 1, Bv Proceeds of Exchange for £2,238 10s. 6d. a 9| advance, $10,919 03 “ 4, U (( 500 a 10 “ 2,444 44 “ n; U (( (( u u 11,666 a 9| iC 56,904 17 “ 17, (( u u ii 6i 250 a 9| u 1,219 43 “ 18, u H U U U 3,663 12 11 a 9f (C 17,870 48 “ 25, u a u U iC 11,649 0 4 a 9| u 56,825 74 Oct. 1, u ii ti u u 6,117 a 10 ii 29,905 33 “ s; u u u u u 5,000 a 9| u 24,388 89 “ 9, u u u u u 224 ^ 9| it 1,095 11 “ 10, u u u u u 1,254 a 10 u 6,130 67 “ 29, u u u u u 949 13 11 a 10 u 4,664 08 £43,511 17s. 8d. Nov. 13, u Interest Coupons, on Sterling Bonds collected by V. C. R. E. Co. . . 1,200 00 Dec. 31, u Advertising ‘ Exchange for sale ” in Atlas, Post and Courier, 30 25 • 1850. Apr. 30, u Com., Int., Post., &c., pd. Brown, Shipley & Co. less their credit of premium on Sterling Bonds, and credit of Int. by J. Quincy, Jr. 8,423 31 u Balance of account paid in Cash, 4,840 65 $226,861 58 172 TABLE V. — (Continued.) Dr. Josiah Quincy^ Jr. ^ in Account, for Stock Purchases^ 1849. $94,400 00 Oct. 1, To 944 Shares, 1850. Aug. 10, » 100 “ 10,000 00 Dec. 1, “ 669 “ 66,900 00 1851. June 1, 1850. “654 “ • 65,400 00 $236,700 00 Dec. 1, 1851. Note, dated Dec. 1, 1850, on demand, with Interest, $151,860 00 June 1, “ “ June 1, 1851, “ “ “ “ 65,400 00 $217,260 00 / TABLE V. — (Continued.) 173 with the Vermont and Canada Railroad Company. Cr. 1849. Oct. 1, By Demand Note pd with Interest at 6 pr. ct. Nov. 15, 1849, $9,440 00 1850. Aug. 10, “ 4 months “ “ “ “ “ 6 “ Dec. 13, 1850, 10,000 00 Dec. 1, “ Note, payable Oct. 1, 1851, with Interest after date,. . , . . 151,860 00 1851. June 1, “ Demand Note, with Interest after date, The Jirst two Notes were paid with Interest at six per cent, per year., as appears in the account above. The last two were settled as follows : 65,400 00 $236,700 00 1850. Dec. 13, By Cash endorsed on Note, 10,000 00 1851. Jan. 25, Nov. 14, u u u u u “ Balance of first Note included in Note of Nov. 14, 1851, as below, 428 00 141,432 00 June 10, “ Cash endorsed on Note, 1,500 00 “ 13, u u u u u 10,000 00 “ 24, ii u u u u 10,600 00 “ 25, it U ll il il 2,264 09 “ 30, U il ll ll ll 9,517 50 July 2, ii u u u u 604 08 “ L Nov. 14, u u u u u “ Balance of last Note, included in Note of Nov. 14, 1851, as below, 10,000 00 20,914 33 $217,260 00 The two balances above stated are together $162,346.33, and were settled by a new Note dated Nov. 14th, 1851, bearing Interest from date ; in this Note was incorporated some other Notes on demand for money loaned Mr. Quincy, which were given up* The whole Note was for $212,901.65, and the Interest due from him to the Company was also included in it. The Note of Nov. 14th, 1851, for $212,901.65, above named, was partly paid as follows : .... $212,901 65 $10,000 00 183,000 00 2,000 00 195,000 00 Leaving unpaid, $17,901 65 Amount of Note, Nov. 22, 1851, Endorsed Cash, Dec. 1, “ Stock Returned, . “ 8, “ Endorsed Cash, With Collateral security of $20,000 of South Shore Railroad Bonds. 174 TABLE V. — (Continued.) KEMARKS UPON THE PRECEDING SETTLEMENT FOR STOCK. As the Stock of the Vermont and Canada Company earned an Interest of 8 per cent, annually, it was proper that a party buying it of the Corporation, if not paying cash, but giving a Note foi* it, should allow Interest on the Note at the same rate or, what is equivalent, should not claim the dividend until his Stock is paid for, except so far as he has paid instalments upon it. This is customary in time purchases of Stock and Bonds bearing more than 6 per cent. Interest. Had Mr. Quincy’s Stock been so settled for, he should have paid the Company as follows ; — Notes of 1849. Oct. 1, 1850. Aug. 10, Dec. 1, 1851. June 1, 1849. Oct. 1, 1850. Dec. 1, 1851. June 1, On demand, paid Nov. 15, 1849, Simple Interest, $69.23, On 4 months, paid Dec. 13, 1850, As Mr. Quincy paid to the Bank that discounted this the amount of the discount, it is in fact cash to the Company Aug. 10, 1850, and therefore no Interest is charged him here. Payable Oct. 1, 1851, with Interest, finally settled Nov. 14, 1851, As shown on the preceding page, and on which the Simple Interest is $8,108.97. On demand, finally settled Nov. 14, 1851, ■ As shown on the preceding page, and on which the Simple Interest is $745.50. Mr. Quincy allowed Interest as follows : On demand, paid Nov. 15, 1849, he paid Interest, Payable Oct. 1, ’51, with Int. f settled Nov. 14, ’51, by < Note ; as before shown. On demand, ( he allowed Interest, . . . $9,440 00 10,000 00 151,860 00 65,400 00 $69 23 11,659 96 Int. at 8 per cent. $92 31 10.811 96 994 00 $11,898 27 $11,729 19 Amount of error to debit of J. Quincy, Jr. $169 08 I TABLE V. — (Continued.) 175 Mr. Quincy’s disposal of this Stock was as follows : p 1850. Dec. 13, Shares. 100 Sold for $10,026 33 1,127 72 428 00 1851. ' Jan. 1, He collected dividend on bis payments, “ 25' 4 Feb. 13, 6 609 73 May 31,' June 9, 94 9,796 24 1,027 50 10 “ 10, 5 513 75 “ 17, 2 205 50 “ 26, He collected dividend, 320 00 July 2, “ 18, 'e 604 08 5 512 50 “ 30, 35 3,500 00 2,000 00 Aug. 1, 20 Sep. 12, Nov. 5, 2 199 50 69 6,744 75 “ 17, 3 309 91 “ 14, He collected dividend, 5,208 00 7,320 00 400 00 Dec. 8, (( U U “ llj u a u “ 30, u u u 224 00 1852. Jan. 7, 1830 He had endorsed on his Note due the Company, 183,000 00 1,022 00 “ 15, 10 Feb. 25, 100 10,000 00 950 00 “ 25, 10 Mar. 1, 56 5,578 40 2367 For which (and in dividends) he received, $251,627 91 Josiah Quincy, Jr.’s, Compensation as Treasurer Vt. ^ Can. R. R. Co. Commenced Aug. 16th, 1849, at $5,000 per annum. Commenced Aug. 16th, 1851, at $500 per annum. Closed Jan. 5th, 1852. Aug. 16th, 1849, to Aug. 16th’ 1851, 2 years, a $5,000, $10,000 00 To Jan. 5th, 1852, inclusive, 4| months, a $500, 194 45 Mr. Quincy drew as follows : Jan. 14, 1850, $1,250 00 Feb. 20, It 1,250 00 July 16, it 1,250 00 Sep. 28, tt 1,250 00 Nov. 30, tt 1,250 00 May 3, 1851, 1,250 00 “ 27, it 1,250 00 Dec. 10, it 1,416 67 Mar. 10, 1852, 224 14 $10,390 81 $10,194 45 Amount of error to debit of J. Quincy, Jr. $196 36 176 TABLE V. — (Continued.) Dr. Josiah Quincy^ Jr. in Loan Account with Use of the Loans. • 1S50. On demand, . . For his own pavments, $2,000 00 Sep. 21, U (( U li ' n 6,000 00 » 28, » U U U U (( 6,500 00 Oct. 3, u u (( it it ti 6,000 00 u 4 U il ll il 15,000 00 “ 5. U H ll ll 12,500 00 “ 16, u U it it It 14,151 60 Nov. 15, u it it it U it 10,000 00 “ 18, u it it a it it 6,017 00 » 22, a 1 U it U (( 8,000 00 “ 25, a ti ti it ti ti 2,000 00 1851. Feb. 10, u u (( ll ll ll 10,986 80 Mar. 1, ti it ti it it it 3,331 13 Apr. 15, u It ll (t ll ll 600 00 June 2, u it it it it u 27,100 00 “ 4, u it To loan to Vt. Central Railroad Company, 50,000 00 “ 10, a it For his own pavments, 6,500 00 “ 13, u it To loan to Vt. Central Railroad Company, 10,000 00 “ 16, u Si tt tt tt it it 4,000 00 “ 25, (( (c ii it tt it a it 9,000 00 “ 27, u it (( it u a tt it ti 4,000 00 “ 30, u For his own pavments, 10,000 00 July 3, u it To loan Vt. Central Railroad Company, . . 19,908 88 “ 5, u it For his own pavments, 1,000 00 Aug. 4, (( a To loan Vt. Central R^oad Company, . . 2,126 00 $246,721 41 The only loans to this Company made by !Mr. Quincy, are the following ; April 19, 1850, Note on 3 months, for $10,000, due June 22, 1850, on which 3 months 3 days discount were paid by the Company. This Note Mr. Quincy retained, getting his own Note on the same time, discounted at the Union Bank. The Note of the Company was not paid by them till July 31st, 9 days after maturity, they paying the additional Interest, ($15.) On the same day, Mr. Quincy took up his own Note at the bank, paying to them the same Interest Dec. 6, 1850, Note on demand for $7,500, paid June 2G, 1851, .... $7,500 00 Interest on do. for 6 months and 20 days, at 8 per cent 334 00 $7,834 00 This Interest should have been but $333.33, showing an error of 67 cents. Mr. Quincy paid this amount to S. 0. Mead, June 26th, having obtained from him the money, on his (Mr. Quincy’s) Note, retaining that of the Company. He paid him however ^ per cent, brokerage, not charged the Company, $12.50. Amount of error to credit of J. Quincy, Jr Sll 83 TABLE V. — (Continued.) 177 the Vermont and Canada Railroad Company. Cr. Rate of Interest. Simple Interest. Extra Interest. 1850. Oct. 31, Returned, 6 per cent. $89 00 $2,000 00 “ 31, 11 6 per cent. 40 00 6,000 00 “ 31, U 6 per cent. 35 75 6,500 00 “ 31, “ , 6 per cent. 28 00 6,000 00 “ 5, u 0 per cent. 00 15,000 00 1851. Jan. 14, u 10,000 00 “ 20, u 208 75 69 58 2,500 00 “ 20, » 8 per cent. 221 71 73 90 14,151 60 May 3, u 9 per cent. 280 00 140 00 10,000 00 1850. Dec. 31, “ 6 per cent. 43 12 6,017 00 “ 31, ii * 1,927 88 1851. Jan. 20, “ 8 per cent. 72 23 24 08 6,072 12 1850. Dec. 31, 6 per cent. 12 00 2,000 00 1851. May 3, a 9 per cent. 151 97 75 98 10,986 80 ‘‘ 3, u 9 per cent. 34 42 17 21 3,331 13 “ 3, u 9 per cent. 1 80 90 600 00 Aug. 5, a 50,000 00 “ 5, u 27,100 00 “ 5, u Unknotvn, . . 975 21 289 51 • 6,500 00 “ 5, 10,000 00 “ 5, a 4,000 00 “ 5, U ' 3,147 28 Nov. 14, a 1 5,852 72 “ 14, li 4,000 00 “ 14, u Unknown, . . 970 00 268 80- 10,000 00 “ 14, a 19,908 88 “ 14, u 1,000 00 “ 14, (4 2,126 00 $3,163 96 $959 96 $246,721 41 As this Company allowed their Stockholders 8 per cent, per annum on their assessments paid in, if Mr. Quincy borrowed any of this money, he should pay them Interest at that rate. The simple Interest on the sums borrowed, as appears by the above table, was $3,163 96 Add error in Interest unpaid on loan of Oct. 4th, for $15,000, returned on the 5th, 2 50 $3,166 46 Mr. Quincy should have paid 6 per cent. Interest, $3,166 46 2 per cent, extra to make 8 per cent, total, 1,055 49 $4,221 95 Interest actually paid, as shown in table above, $4,123 92 Balance to debit of J. Quincy, Jr $98 03 W 178 TABLE V. — (Continued.) Recapitulation of Errors in Foregoing Tables. To errors in casting Interest, . By “ “ “ “ 'Pq (( u u u ii U U ii it a u a a u “ “ “ stock Account, . “ “ “ casting Interest, . “ “ “ Salary Account, . By “ “ Interest Account, •J-Q « II H (( By balance carried down,. . . . To balance to debit of J. Quincy, Jr. To error in casting Interest omitted, . §58 04 1,767 05 466 92 662 08 4,762 50 169 08 196 36 ”98 03 §8,214 80 §8,144 52 602 09 §58 45 11 83 8,144 52 §8,214 80 §8,746 61 TABLE V. — (Continued.) 179 REMARKS UPON THE LOANS MADE TO JOSIAH QUINCY, Jr. Mr. Quincy borrowed a large amount of the two Companies, while acting as Treasurer, for his private use, as shown in the preceding Tables. From these it appears that He borrowed of the Vermont Central Railroad Company during this time, $745,472 89 From the Vermont and Canada Railroad Company, ’246,721 41 Making from both Companies, $992,194 30 A part of the amount borrowed of the Vermont and Canada, was loaned to the Vermont Central, amounting, as per the Table, to 99,034 88 Leaving the amount borrowed for his own private account, .... $893,159 42 For these moneys he never gave to the Company any security, except for the “ re-loan ” they made to him of the amount due on his Stock Note. He generally paid but 6 per cent. Interest for the use of these moneys, although they cost the Company from 8 to 24 per cent. 180 TABLE V. — (Continued.) Statement of Josiah Quincy, Jr.’s, Liabilities in March, 1852 , secured by Notes of J. Q., Jr., paid by the Company to release their Bonds and Endorsements. FIRST CLASS. Notes due Peleg Clark, “ “ C. C. Litjle, “ “ H. H. Hunne’well, “ “ P. P. F. Degrand, “ “ Clement Willis, “ “ S. Salmond, “ “ E. Richmond, “ “ John Page, “ “ Globe Bank, “ “ J. E. Thayer & Bro. . . . “ “ Leonard Foster, “ “ S. G. Williams & Son, . “ “ Samuel Avery, “ “ Merriam, Brewer & Co. $3,000 00 10,000 00 15.000 00 13,100 00 7.000 00 3,200 00 2,800 00 1,600 00 46,583 00 109,000 00 19.000 00 2,366 22 1.000 00 10.000 00 SECOND CLA.SS. Notes due H. H. Hunnewell, . . . . “ “ S. 0. Mead, “ “ Richard Bell, “ “ Willis & Co ii U (( u “ “ S. G. Williams & SoA] “ “ S. Brown & Sons, . . . . “ “ H. H. Hunnewell, . . . . “ “ ?. P. F. Degrand, . . . . 10,000 00 15,000 00 15.000 00 10.000 00 5,000 00 5.000 00 2,500 00 26,344 13 2.000 00 THIRD CLASS. 1 I Notes (( u u n u iC iC n due Greenfield Bank, “ S. Brown & Sons, . . . . , “ J. E. Thayer & Bro. . . “ Mervin & Gould, “ J. Amort^ Davis, “ Wm. F. ‘Weld, U ll “ W. & D. Moore',!’.’.!'.'.! “ J. S. Johnson, “ J. Bennett, “ S. G. Williams & Son,. “ P. P. F. Demand, “ H. F. Sumner, “ N. Peirce, “ S. G. Williams & Son, “ Luke Carter, “ Merriam, Brewer & Co. 5,000 00 11,373 67 13.000 00 15.000 00 5.000 00 8.000 00 10,643 10 2,000 00 5.000 00 6.000 00 5.000 00 3.000 00 3.000 00 12,850 00 5.000 00 1,042 38 3.000 00 10.000 00 $458,402 50 TABLE V. — ( Continued.) 181 Endorsements of the two Companies, and hy Vt. Cent. R. R. Co.’s Bonds. Use made of these Sums by Mr. Quincy. Paid his own private liabilities, May 3, 1851. “ “ “ “ “ July 8, ■■ July 8 and 28, and June 13, 1851. Aug. 22 and Sept. 5. Sept. 3, 1851. “ 6 , “ “ 22 , “ Oct. 15, “ Sept. 12, 13, 22, Oct. 2, Nov. 22, and Dec. 31j 1851. June 27 and Oct. 30, 1851. Sept. 13, 1851. June 25, “ July 7, “ June 30, “ Paid to, For loan to V. C. R. R. Co. The Vt. Cent, returned it to Mr. Quincy^ Union Bank, Apr. 5, 1851, Apr. 15, 1851. J. H. Paine, Mar. 21, “ June 27, “ R. Bell, June 4, “ “ 27, “ Willis & Co. ii 7, “ “ 27, “ ii 7, » “ 27, “ Williams & Son, 17, “ u 27, “ Brown & Sons, Mar. 26, “ » 27, “ Hunnewell, July 1, “ Aug. 5, “ Union Bank, Aug. 27, » Sept. 16, “ Loaned V. C. R. R. Co., but returned by them to Mr. Quincy, June 27, 1851. li U ii ii ii ii “ “ 27, “ u u (( ii ii (( ii 11 11 27 u u ii ii ii u » 27 ’ “ u u ii ii ii ii ii “ “ 27, » u u ii ii « ii ii “ Aug. 24, “ ii ii ii u ii ii “ June 27, “ U ii ii ii ii ii ii “ “ 27, “ u u ii ii a ii ii “ “ 27, “ u u li ii ii ii “ Aug. 5, “ i ii ii ii ii ii ii “ “ 7, “ it ii ii ii a ii ii » “ 20, “ ii ii 1 li ii ii ii ii “ Nov. 12, “ it ii ii U a ii ii “ June 27, “ ii ii 1 li ii ii ii ii “ Sept. 16, “ ii ii li u a ii ii “ Nov. 12, “ U ii ii ii ii ii ii “ “ 12, “ ii ii ii a a ii ii “ “ 12, “ An explanation of this Table will be found in the Report, page 94. 182 TABLE V. — (Continued.) \ FINAL STATEMENT CONCERNING MR. QUINCY’S CONNECTION WITH THE COMPANY. It being proper that the members of the Company should be fully acquainted with all the circumstances connected with Mr. Quincy’s pecuniary transactions, and with their result, these are now presented in concise form for their consideration. It is found that all funds raised by Mr. Quincy, either as Treasurer or in his private capacity, have been refunded to him, with Interest, simple and extra. Commissions, &c. That his charges for rent and clerk hire have been paid. That, although he loaned comparatively nothing, from his private funds, to the Companies, he borrowed from them, during his connection with them, nearly $900,000 ; and that he further raised upon their property and credit, over $450,000, making together the sum of $1,350,000. TABLE VI. I STATEMENT RESPECTING OFFICERS. } I \ • ' trifl'Al : ; u' ■ 1 ■ c - . ^j 0 ‘ ; , ' in r. , " ' ' J .:u.l -r.Kli — V '. ^ - ■< Vv,' i ! i>l^ * ’* •* >: •. 4 r ■ ► ’ \ Jk ^ - * ” • ■ ^ , V. ^ ‘ r ^ • ^ . ■ S /k 4 ri^rr:a.3rl(fel^'afT'i’^^ ■J ^ ^ 'T^ ' •/ ■ " ' >f-* *rt ^ g« ^ tiWI*«4WHrw-T ; ' Iffl ’ ' * ■ ■* ' ■ '■;.¥ »« f ' '•'^-■•41 '■ r 4 - . . ' ^ . ,*» . A ;; fl nrJt r*^ • •■ r*' .C Vkv ,o JI » ^ ^ TABLE VI. STATEMENT RESPECTING OFFICERS OF THE CORPORATION, The following statement represents moneys paid to and services rendered by Messrs. John Peck, John H. Peck, James C. Dunn, J. P. Putnam, Charles Paine, and C. O. Whitmore. The accounts with these gentlemen are selected, because the attention of the public has been specially directed to them. The Committee do not find that any charges worthy of comment were made by the other Directors ; they however were repaid their expenses and allowed to charge $5 per day for their time when engaged in the service of the Corporation. JOHN PECK, of Burlington, Vt. Who was appointed Director at the formation of the first Board of Directors, and held that office until Dec. 31, 1850 — 5 years, 5 months, 9 days. 1845, Oct. 31, Travelling Expenses, Board and Time, $70 18 1846, Apr. 17, U U (4 (4 88 30 1847, Oct. 31, 44 44 44 125 99 1850, June 14, ii 44 44 44 399 17 1851, Dec. 4, (C 44 44 44 120 34 1852, Sept. 8, u 44 44 44 950 00 $1,753 98 JOHN H. PECK, of Burlington, Vt. Appointed Director Dec. 31, 1850, and who is now a member of the Board — 2 years, 6 months. 1852, Jan. 28, Travelling Expenses, Board and Time, Apr. 26, “ “ “ “ June 24, “ “ “ “ Oct. 8, » “ “ “ For Vermont and Canada R. R. Co. For Endorsements and Services as Director, $549 21 160 44 202 61 183 91 $1,096 17 6,023 26 $6,119 42 X 186 TABLE VI. — (Continued.) Statement respecting Officers of the Corporation. CHAKLES PAINE, of Northfield, Vt. Appointed President at the organization of the Company, and con- tinued to hold that office tUl Apr. 29, 1853 — 7 years, 9 months, 9 days. 1845, Oct., Trayelling Expenses, Board,, Nov., “ “ “ Dec., “ “ “ . 1846, Jan., “ , “ “ • Feb., “ “ “ . Mar., “ “ “ Apr., “ “ “ May; » » “ , July, “ “ “ Sept., Dec “ “ “ 1847, Apr!’, Sept., 1848, Feb., May, “ “ “ . Aug., Dec “ “ “ 1849, Apr.; “ “ “ June, “ ^ “ “ Oct., “ “ Nov., » “ “ 1850, Jan., “ “ “ Mar., “ “ “ May, June, “ “ “ Oct., “ “ “ Dec., “ “ “ 1851, Mar., “ Sept., Nov., Dec., 1852, Mar., “ “ “ June, S70 22 I 48 62 58 79 45 25 19 99 27 25 53 50 20 50 38 62 55 50 62 75 63 75 109 25 100 00 83 46 113 70 71 82 212 25 87 65 138 00 46 25 72 97 60 62 101 55 83 75 191 50 53 50 263 07 186 45 85 63 221 50 77 00 173 37 / $3,098 03 For Vermont and Canada R. R. Co. For Commissions on $705,413.40 endorsement of the Company’s paper, one-fifth of two and one-half per cent For Services and Expenses as Director, For Interest on above from July 1, 1851, $3,527 06 7,000 00 1,157 97 $11,685 03 $14,783 06 Mr. Paine has also received, Apr. 30, 1851, for land and buildings, in Northfield, (The above sum was given him in accordance wuth votes passed Nov. 26, 1850, and Jan. 16, 1851.) $26,000 00 He has received as a salary from this Company, as its President from July 12, 1845, to Dec. 12, 1852, (7 years, 5 months,) at $5,000 per year, (Mr. Paine did not draw for any salary from Dec. 12, 1852, up to the 29th of April, 1853, at which time he relinquished his office.) $37,083 33 TABLE VI. — (Continued.) 187 Statement respecting Officers of the Corporation. J. P. PUTNAM, of Boston. Appointed Director May 10, 1850, and held that ofl&ce till Oct. 6, 1852 — 2 years, 4 months, 25 days. 1850, Aug. 24, Travelling Expenses, Board and Time, $48 12 Oct. 7, (( Li LL LL 19 85 Nov. 8, U Li LL LL 27 78 Nov. 13, Li LL LL LL 13 09 Dec. 9, Li LL LL 6 07 1851, July 8, LL (( LL LL 173 63 Dec. 29, Li a LL LL 205 40 1852, Apr. 5, Li u LL LL 61 15 July 6, Li u LL LL 85 62 Oct. 4, Li u LL LL 181 00 $821 71 1851, Jan. 8, Professional Services, Jan. 17, Apr. 12, “ “ July 8, Dec. 29, “ 1852, Mar. 9, “ “ Apr. 5, “ “ July 6, “ “ Oct. 4, $209 38 157 00 173 82 73 44 572 99 300 00 341 21 487 48 686 36 For Vermont and Canada R. E. Co. 1850, Nov. 19, Of the above amount, a very large portion consists of pajnnents, for professional services rendered by Mr Putnam to the Corporation as its solicitor. In regard to these, the Committee find that the services performed by Mr. Putnam were of much value to the Com- pany, that it was expressly understood that they were to be rewarded upon the usual scale of professional compensation, and they are satisfied that the amount charged by him is not only reasonable, but moderate. The balance of Mr. Putnam’s account is confined to sums actually expended, and to his allowance of $5 per day, before alluded to, which he received in common with the other Directors. 64 28 $3,065 96 $3,887 67 JAMES C. DUNN, of Boston. Appointed Director Nov. 26, 1850, and held that office till Oct. 5, 1852 — 1 year, 10 months, 9 days. 1849, June 14, Travelling Expenses, Board and Time, 1851, July 18, “ “ “ “ 1852, Feb. 26, “ “ “ “ $48 50 211 75 148 25 $408 50 1851, Mar. 31, Commission on Sale of Bonds,. Aug. 8, “ “ “ . Dec. 30, » “ “ . $2 50 27 50 537 50 $567 50 $976 00 188—348 TABLE VI. — (Continued.) Statement respecting Officers of the Corporation. C. 0. WHITMORE, of Boston, Appointed Director April 2, 1850, and held that office till March 9, 1853 — 2 years, 11 months, 7 days. 1851, Jan. 19, Travelling Expenses, Board and Time, Aug. 9, “ “ “ “ $153 00 209 00 $362 00 1852, Feb. 28, Services as Chaii-man of Finance Committee during 7 months, at $5,000 per year, the remainder being charged to Vermont and Canada Road, Dec. 8, 1851, For services as Chaurman of the Finance Committee,. (When jMr. Whitmore was appointed to this office, it was voted that compensation, at the rate of $5,000 per year, should be paid to him for his services in that capacity.) Mr. Whitmore also received from the Vermont and Canada Rail- road Company: Feb. 28, 1850, Commission of 1 per cent, on sale of $460,700.00 of Stock in that Company, 787 79 2,128 88 4,607 00 (The Directors of the Vermont and Canada voted to pay Mr. Whitmore this commission, when the Stock was placed in his hands for sale.) $7,885 67 It having been publicly stated that this Director had borrowed money belonging to the Company, without paying Interest therefor, a statement of the transactions so alluded to is given. On Cash Book is found: Dec. 11, 1851, pd. C. 0. AVhitmore for Note on demand, without Int. u ^2 t( ‘‘ ‘‘ “ ‘‘ “ “ “ “ $35,000 00 10,000 00 13,742 09 $58,742 09 Dec. 12, 1851, received of C. 0. Whitimore, endorsed on his Note,. . u 24 “ ‘‘ ‘‘ “ These loans were effected for the purpose of protecting the Com- pany against an attachment of these funds. Although Mr. Whit- more gave his Notes to the Company for the above amount, the money thus received by him was deposited in 'the Bank by them, and they held for these deposits a separate book of deposit, and kept it in their own possession. Mr. Whitmore, when the Company re- quired this money, signed checks for it, and received back in ex- change the Notes he had given. He made no use of this money of which the Committee are aware, and it was not deposited with his own. $10,013 33 48,728 76 $58,742 09