Massachusetts spy and Worcester advertiser. [volume] ([Worcester, Mass.]) 1823-1825, 1824-03-03
A PPLIcATIoN has been made to

| "A TIE Legislature, Tor an act OF lncorpora-
non TO certain persons, with their associates,
ior the purpose OF making Canal or Rail-
way from Worcester to Boston.
| This application was made under the be-
lief that pit, coal can be obtained in Worces-
ter. OF such quality, and in such abundance,
as will justify the project of creating facili-
ties for its conveyance to Boston.
| The first object is, to ascertain, by satis-
| factory experiment, the quality AMI probable
quantity OF coal; and if it appears that this
Will justify further expense, il will then be
proper to cause surveys to be made, in order
10 determine on the best mode of conveying
the same to Boston.
Some money must be expended, in making
these examinations and surveys, which NAV
be lost; and as it is but reasonable that those
who incur the hazard of loss in the outset.
should have the advantage, if there is any,
OF the result, it is therefore proposed that a
subscription be opened for shares in Compa-
ny, to be known by the name of the .faSsa-
| c'1usetts Coal Company and this public no.
tlce is given, that the same will be open for
all persons who may choose to subscribe
thereunto, at the Merchants Hall, in Boston,
and at the Worcester Hotel, in Worcester,
on MONDAY, the eighth day of March next,
until two O'Clock, on that day.
Ifmore than five thousand Shares are SUBJ
scribed for, each Subscriber shall be entitled
to such proportion of the number he may sub.
scribe for, as five thousand bears to the whole
number subscribed for,
ohdert the foregoing conditions, we, whose
names are hereunto subscribed, do hereby
associate together, for the purposes and OBJ
Jects aforementioned, and do mutually agree
upon the following terms Of association, which
shall be adopted and become part Of tho
bye-laws, should we hereafter obtain an act
of Incorporation:
LIST. The Capital Stock shall be divided into
Five Thousand Shares.
2da Each Subscriber shall he bound to pay
One Dollar on each Share, which he shall be
entitled TO hold under this subscription, for
the purposes'of exploring the Coal Mine, max
ing Surveys, &c. &c.
Sd. No subscriber shall be liable to pay
more than One Hundred Dollars on each
Share wh:ch he may eventually hold, inclu.
ding as part thereof. all such sums as he shall
have paid pursuant TO the second article.
Before any act of Incorporation shall be
| obtained, the affairs of the Association shah
De managed by Committee 10 be chosen by
the Subscribers, at their first meeting, as
hereinafter provided, who shall be authoriz-
ed to collect and receive the money to be
paid by the second article, and to expend
the same, according to their best Judgment,
for the following purposes, to wit lin the
first place, TO explore the Coal Mine at Wor.
cester, and in case they shall be satisfied az
to the quality aud quantity Of the coal, and
the facility Of obtaining it., to proceed in the
second place, 20 cause such surveys and esti-
mates to be made, as win enable them TO de.
termine on the best mode of conveying il to
Boston; and for all or any Of these purposes.
to appoint Agents, Surveyors, &C., and to do
all such acts and things, as may be needful
and proper, to execute the powers committed
to them and shall thereafter make report Of
all their doings, at nesting of the Subscri-
bers, to be called for that purpose.
| Upon the report Of the Committee being
made, each Subscriber shall have the right to
decline taking any Shares in the Capital
Stock of the Company; but in case he does
so decline, he shall forfeit all such sums as he
may have paid pursuant TO the second arti-
Gle.
After the subscription is closed, the three
| first Subscribers, on the Boston list, shall be
authorized to call meeting of the Subscri-
bers, by giving public notice in one Newspa-
per printed in Worcester, and in two News
papers printed in Boston, of the time and
place Of such meeting; and after such meet
ing shall have been organized, a Committee
shall be appointed to apportion the Shares
among the several Subscribers, in case the
whole number subscribed for shall exceed
five thousand, and to make out correct list
of the same and another Committee also
shall be appointed, to manage the affairs Of
the Association, with the powers and for the
purposes hereinbefore set forth: and as soon
as this Committee shall have performed the
duty assigned to them, and shall be ready to
make report, they are hereby authorized to
call meeting Of the Subscribers, which
shall be done in the manner hcrcinbefere
provided.
Each Subscriber shall be entitled to as ma
ny votes as he may hold shares, provided they
do not exceed one fourth Of the whole num-
Der. THOMAS H. PERKINS
LEVI LINCOLN.
ISRAEL THORNDIKE..
P. T. JACKSON.
DANIEL WALDO.
Feb 10 1904