Page 10-The Journal Opinion-July 7, 1982
purchase by Chittenden would s h a r e. "B r a d f o r d
allow BNB to operate-with stockholders would not be
little more independence than subject to federal and state
that of a branch office for the income tax on their ex-
gant banking firm. change ' of stock, said
In a letter to BNB Gallerani.
shareholders, Gallerani said The First National Bank of
the BNB-First National af- Vermont's stock has a book
filiation would receive three ' value of $26 per share which,
l oj pb
* Bradford bank reiects second bid Eclipse-July 6, 1982 Shadow met Earth covers
{continuedfrompage,,l) and one-half shares of First in theory, would net BNB
the bank'smanagement. National Bank of Vermont shareholders stock worth the
Gallerani has said that stock for every one BNB equivalent of about$91 inFirst
SALE
L25% oR
MOR00
Savings in all depts.
00,Most Summer lile00handi00
Jl
WOODSV1LLE- ST. JOHNSBURY
IIIII II I I !
i ill i
National stock for each BNB
share in the transaction.
An official prospectus
outlining the terms of the
BNB-First National affiliation
is expected to release to
BNB's 250 shareholders
sometime in August. The
prospectus will also provide
updated figures on both banks'
assets.
Gallerani and First National
Bank of Vermont President
Howard MacDonald both say
their two banks have worked
together "comfortably"
during the past six years on a
series of joint operations or
loans. Both expect to
strengthen their bank's assets
and services as a result of the
deal.
Bradford National Bank
recorded assets of $30 million
in December of 1981; The
First National Bank of Ver-
mont recorded assets of $67
million in December. Brad-
ford National Bank has
branch offices in Newbury,
Fairlee, and E. Thetford, in
addition to its main office in
Bradford Village. The First
National Bank has branch
offices in Fair Haven, Nor-
thfield, Windsor, and St.
Johnsbury, with its main
offices in Springfield.
. Newbury voters win lower taxes at meeting
was previously thought, year for the voters to allocate hastily scribbled out on the District superintendent crowd
At the urging of Bailey, where they desired. Both back of his town report, at one John Fontana started off board for
$27,000 raised by the town last towns chose to apply the point called for the town to defending the figures in the school reports
year in confusion over a bond money toward taxes, raise as little as $10,000 in- report but quickly settled before the
for repairs to the roof at Andso, voters at last week's stead of $92,000. The voters down to a quick mathematical Meeting. She
Oxbow High School was also Newbury meeting took their being hesitant, Bailey review of the situation, requires the
put toward the amount to be newly found revenue and changed his figure to $25,000 busying himself at his available to the
raised in taxes, changed the school's "to play it safe." Board calculator. The new figures less than 15 dayS
Voters in Newbury and recommended budget figures member Russell Carson were worked out by Fontana meeting. D
Bradford (for $32,000) had accordingly -- though some arguing on the side of the rechecking Bailey's rough pologized on
approved the roof bond last complained of the hasty school board's deficit projections, board for the late
year, which because of pen- manner in which the projections, talked Bailey into Fontana admitted his Other
ding litigation in Oxbow's rearranged budgetwasfinally a compromise motion of surprise at the discrepancy In other
$575,000 successful suit workedout. $32,000 -- which the vote, s between the school board's passed a
against roof manufacturer Newbury resident Steve passed, figures and the treasurer's require the
GAF Corporation -- Oxbow Holt, before being elected to School board officials were report. Many in the crowd keep an
and district officials had never replace Gerry Brooks on the not immediately pleased with were surprised when Fontana expenses.
actually planned to raise the town district school board, the result. "We're making too said that he was able to review believes the
bond unless they lost. This was cautioned the voters, "We many assumptions here... I the figures in theschool report already keeps
should either pass a fairly don't think we should blindly for the first time on the day of
HERE
IIlll '$ tO.rid
with a choice of big savings for the whole family.
Get" $2, $5 or $10 refund by, mail. [#ILL00
I am enclosing proof(s) of purchase from the following Wrangler clothes along with
sales receipt (with circled Wrangler price)from each item. Please send my $2, $5 or $10 Main Street
refund to:
Name __
Address ..............
Gty.
State Zip
Check One: D S2 Refund
1 pair of cords.
___ Phone No,,
$5 Refund
1 pair of cords and
1 Wrangler shirt.
$10 Refund
1 pair of cords, 1
shirt and 1 pair of
denim jeans.
This certifi¢ote nst accompany olt refunO re¢sts, No OJp|i¢4tio or reproduction v,,lll red. Offer void where ixohJblted, taxed or
restrieteO by law. kirmt one refund oer certifiC€. Limit $'20 re/und pet household aOclress./*Jtow b weeks [or rece=pt of re/und Offer explret
Septmbe¢ )0, iglBL On purchases made within the U.$. tgwttong$ qtalllfy.
Bradford, Vermont
802-222.4657
LJ Proof of purchase on waistband.
/', / [ Proof(s) of purchase of denim jeans
i [ [ .] | and cords is waistband size tag. Proof
baseline amount or... table rush into this," said board
the item until the school of- member Drugach before the
ficials can come back here final vote on the budget issue.
with some accurate figures we
can understand."
Bailey's original figures,
196'2, u¢ 8€11, I€.
the meeting. Voters at
Late Reports passed
One elderly woman in the calling for
School
Newbu00 backs
newcomers in elections
NEWBURY-- Two recent and discipline matters. She
arrivals to the Town of won her position by a vote
Newbury, neither having of 72 to 39.
lived in the town for more Holt said he presently
than three years, were handles a budget equal to
overwhelming elected to the size of the Newbury
school board positions at school budget in his job as
last week's Newbury director of the North
AnnualSchoolMeeting. Country Institute, an
In the race for agency which disperses
Newbury's position.on the Catholic funds to corn-
Oxbow School Board, munity groups throughout
Joanna Arps, a resident of Vermont and New Ham-
W. Newbury for two years, pshire. He emphasized the
defeated Newbury native importance of com-
Susan Spooner, who had munication in his remarks
been appointed by the to the voters at the school
board earlier this winter to
replace the late Rev.
Robert Johnston.
Three-year Newbury
resident Steve Holt
defeated Suki Woodard, a
W. Newbury native, for the
town school director
position held by Gerry
Brooks. Brooks announced
his decision not to seek re-
election to the position at
Monday's meeting.
Both Arps and Holt cited
their backing of a zero-
based budget system and
an interest in "quality
education" as reasons for
seeking their school board
positions.
Arps told the voters she
would seek the establish-
ment of "long-term goals"
on the Oxbow board and
said she was equally
concerned with curriculum
meeting.
Holt won his school
director position by a vote
of 72 to38.
"I'm going to insist that
we come into this meeting
with information in a very
clear and easy to un-
derstand way," said Holt.
A former teacher, he said
he understands the "im-
portance of curriculum
policy and the Newbury
design." Holt added that,
"I intend to take my
position on the orange East
District Board very
seriously" in addition to his
elected role as a town
school director.
Gerry Brooks was
elected to serve as auditor
for the school district.
Barbara Kiel will serve as
treasurer.
at no less than I
See the
page one for
from the meeting.
In addition
obtain a lien o
with
taxes. The
would be to
delinquent tax
their debts.
405 HOTEL
C01LmTTmS
ONLY s,., I andO..TEDHOTELa
s-'m-7;€ I MU.SnC*
omsIGSONNJ.SlZlSS 11l'Tb tT rk _:._..,TUI[N
. smss II ..I/JLIIII00 euxm,
• lga " l lilt I b, OFF 1.91, HADFO/ID, --hi €€
1'eL 222-BTS8 -Master Chae
ECLIPSE
GRANGE AWARDS
THETFORD-- The Eclipse estimated in the town report
Grange will be holding its -- of which $12,000 has already
Grange Citizenship Award been received and another
Night on July 13 at the Grange $20,000 can be expected.
Hall at 7:30 p.m. Thefford's This gave the school budget
Town Clerk will be honored at about $53,000 in delinquent tax
the event, revenue instead of $22,000 as
(continued from page 1 )
this year to cover a budget
that has increased by over
$4O,OOO.
Budget Mix-up
Here is what created the
budget mix-up and such
drastic reductions to the tax
figures recommended by the
Newbury Town District School
Board -- Gerry Brooks,
Deloris Drugach, and Russell
Carson.
Newbury tax collector
Kathleen Knight told voters
and school officials at the
meeting that the town could
expect about $32,000 more in
delinquent taxes than was
never adequately com-
municated to officials at the
town level, who went ahead,
raising the money as required
under the voter-approved
bond. As a result, each town
had the money available this
Page 10-The Journal Opinion-July 7, 1982
purchase by Chittenden would s h a r e. "B r a d f o r d
allow BNB to operate-with stockholders would not be
little more independence than subject to federal and state
that of a branch office for the income tax on their ex-
gant banking firm. change ' of stock, said
In a letter to BNB Gallerani.
shareholders, Gallerani said The First National Bank of
the BNB-First National af- Vermont's stock has a book
filiation would receive three ' value of $26 per share which,
l oj pb
* Bradford bank reiects second bid Eclipse-July 6, 1982 Shadow met Earth covers
{continuedfrompage,,l) and one-half shares of First in theory, would net BNB
the bank'smanagement. National Bank of Vermont shareholders stock worth the
Gallerani has said that stock for every one BNB equivalent of about$91 inFirst
SALE
L25% oR
MOR00
Savings in all depts.
00,Most Summer lile00handi00
Jl
WOODSV1LLE- ST. JOHNSBURY
IIIII II I I !
i ill i
National stock for each BNB
share in the transaction.
An official prospectus
outlining the terms of the
BNB-First National affiliation
is expected to release to
BNB's 250 shareholders
sometime in August. The
prospectus will also provide
updated figures on both banks'
assets.
Gallerani and First National
Bank of Vermont President
Howard MacDonald both say
their two banks have worked
together "comfortably"
during the past six years on a
series of joint operations or
loans. Both expect to
strengthen their bank's assets
and services as a result of the
deal.
Bradford National Bank
recorded assets of $30 million
in December of 1981; The
First National Bank of Ver-
mont recorded assets of $67
million in December. Brad-
ford National Bank has
branch offices in Newbury,
Fairlee, and E. Thetford, in
addition to its main office in
Bradford Village. The First
National Bank has branch
offices in Fair Haven, Nor-
thfield, Windsor, and St.
Johnsbury, with its main
offices in Springfield.
. Newbury voters win lower taxes at meeting
was previously thought, year for the voters to allocate hastily scribbled out on the District superintendent crowd
At the urging of Bailey, where they desired. Both back of his town report, at one John Fontana started off board for
$27,000 raised by the town last towns chose to apply the point called for the town to defending the figures in the school reports
year in confusion over a bond money toward taxes, raise as little as $10,000 in- report but quickly settled before the
for repairs to the roof at Andso, voters at last week's stead of $92,000. The voters down to a quick mathematical Meeting. She
Oxbow High School was also Newbury meeting took their being hesitant, Bailey review of the situation, requires the
put toward the amount to be newly found revenue and changed his figure to $25,000 busying himself at his available to the
raised in taxes, changed the school's "to play it safe." Board calculator. The new figures less than 15 dayS
Voters in Newbury and recommended budget figures member Russell Carson were worked out by Fontana meeting. D
Bradford (for $32,000) had accordingly -- though some arguing on the side of the rechecking Bailey's rough pologized on
approved the roof bond last complained of the hasty school board's deficit projections, board for the late
year, which because of pen- manner in which the projections, talked Bailey into Fontana admitted his Other
ding litigation in Oxbow's rearranged budgetwasfinally a compromise motion of surprise at the discrepancy In other
$575,000 successful suit workedout. $32,000 -- which the vote, s between the school board's passed a
against roof manufacturer Newbury resident Steve passed, figures and the treasurer's require the
GAF Corporation -- Oxbow Holt, before being elected to School board officials were report. Many in the crowd keep an
and district officials had never replace Gerry Brooks on the not immediately pleased with were surprised when Fontana expenses.
actually planned to raise the town district school board, the result. "We're making too said that he was able to review believes the
bond unless they lost. This was cautioned the voters, "We many assumptions here... I the figures in theschool report already keeps
should either pass a fairly don't think we should blindly for the first time on the day of
HERE
IIlll '$ tO.rid
with a choice of big savings for the whole family.
Get" $2, $5 or $10 refund by, mail. [#ILL00
I am enclosing proof(s) of purchase from the following Wrangler clothes along with
sales receipt (with circled Wrangler price)from each item. Please send my $2, $5 or $10 Main Street
refund to:
Name __
Address ..............
Gty.
State Zip
Check One: D S2 Refund
1 pair of cords.
___ Phone No,,
$5 Refund
1 pair of cords and
1 Wrangler shirt.
$10 Refund
1 pair of cords, 1
shirt and 1 pair of
denim jeans.
This certifi¢ote nst accompany olt refunO re¢sts, No OJp|i¢4tio or reproduction v,,lll red. Offer void where ixohJblted, taxed or
restrieteO by law. kirmt one refund oer certifiC€. Limit $'20 re/und pet household aOclress./*Jtow b weeks [or rece=pt of re/und Offer explret
Septmbe¢ )0, iglBL On purchases made within the U.$. tgwttong$ qtalllfy.
Bradford, Vermont
802-222.4657
LJ Proof of purchase on waistband.
/', / [ Proof(s) of purchase of denim jeans
i [ [ .] | and cords is waistband size tag. Proof
baseline amount or... table rush into this," said board
the item until the school of- member Drugach before the
ficials can come back here final vote on the budget issue.
with some accurate figures we
can understand."
Bailey's original figures,
196'2, u¢ 8€11, I€.
the meeting. Voters at
Late Reports passed
One elderly woman in the calling for
School
Newbu00 backs
newcomers in elections
NEWBURY-- Two recent and discipline matters. She
arrivals to the Town of won her position by a vote
Newbury, neither having of 72 to 39.
lived in the town for more Holt said he presently
than three years, were handles a budget equal to
overwhelming elected to the size of the Newbury
school board positions at school budget in his job as
last week's Newbury director of the North
AnnualSchoolMeeting. Country Institute, an
In the race for agency which disperses
Newbury's position.on the Catholic funds to corn-
Oxbow School Board, munity groups throughout
Joanna Arps, a resident of Vermont and New Ham-
W. Newbury for two years, pshire. He emphasized the
defeated Newbury native importance of com-
Susan Spooner, who had munication in his remarks
been appointed by the to the voters at the school
board earlier this winter to
replace the late Rev.
Robert Johnston.
Three-year Newbury
resident Steve Holt
defeated Suki Woodard, a
W. Newbury native, for the
town school director
position held by Gerry
Brooks. Brooks announced
his decision not to seek re-
election to the position at
Monday's meeting.
Both Arps and Holt cited
their backing of a zero-
based budget system and
an interest in "quality
education" as reasons for
seeking their school board
positions.
Arps told the voters she
would seek the establish-
ment of "long-term goals"
on the Oxbow board and
said she was equally
concerned with curriculum
meeting.
Holt won his school
director position by a vote
of 72 to38.
"I'm going to insist that
we come into this meeting
with information in a very
clear and easy to un-
derstand way," said Holt.
A former teacher, he said
he understands the "im-
portance of curriculum
policy and the Newbury
design." Holt added that,
"I intend to take my
position on the orange East
District Board very
seriously" in addition to his
elected role as a town
school director.
Gerry Brooks was
elected to serve as auditor
for the school district.
Barbara Kiel will serve as
treasurer.
at no less than I
See the
page one for
from the meeting.
In addition
obtain a lien o
with
taxes. The
would be to
delinquent tax
their debts.
405 HOTEL
C01LmTTmS
ONLY s,., I andO..TEDHOTELa
s-'m-7;€ I MU.SnC*
omsIGSONNJ.SlZlSS 11l'Tb tT rk _:._..,TUI[N
. smss II ..I/JLIIII00 euxm,
• lga " l lilt I b, OFF 1.91, HADFO/ID, --hi €€
1'eL 222-BTS8 -Master Chae
ECLIPSE
GRANGE AWARDS
THETFORD-- The Eclipse estimated in the town report
Grange will be holding its -- of which $12,000 has already
Grange Citizenship Award been received and another
Night on July 13 at the Grange $20,000 can be expected.
Hall at 7:30 p.m. Thefford's This gave the school budget
Town Clerk will be honored at about $53,000 in delinquent tax
the event, revenue instead of $22,000 as
(continued from page 1 )
this year to cover a budget
that has increased by over
$4O,OOO.
Budget Mix-up
Here is what created the
budget mix-up and such
drastic reductions to the tax
figures recommended by the
Newbury Town District School
Board -- Gerry Brooks,
Deloris Drugach, and Russell
Carson.
Newbury tax collector
Kathleen Knight told voters
and school officials at the
meeting that the town could
expect about $32,000 more in
delinquent taxes than was
never adequately com-
municated to officials at the
town level, who went ahead,
raising the money as required
under the voter-approved
bond. As a result, each town
had the money available this
