Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1838-06-05

Eauk there 10 no foof1 itt oteVt w WV - =
lfac that when tho subscription books TO the bank
Of Rutland ~efe opened. some doubted the sve'
cess Of the experiment 30 many now doubt the
,oeeess Of the Rail Road. and suffered the stock
10 be taken BY persons abroad, Who have reaped
rich reward from the prudent and skilifol manage
men, oi The officers OF that ,asii,uiien, but u 's
hoped that cor citizens will learn wisdom from ex-
pcticpce. and secure 10 themselves tho boon that
il nos offered. Tho Back of Roilsuj, whose
charter expires January !, ISL has heea ~ OPP
Grafton about thirteen ,esIs sad has during that
time. including it's extra dividends. yielded 70 'is
stockholders profit at e!orea pr oenf The nan
Road Dank will 90 into cpe.aion under more Ia
surabe citcums snees it has longer charter, VIZ
I'LL Jan. |. lS57--a larger Amount OF repi's'
$3.50 600 and Is exempt from al taxation ull !u'
~ 1, 1916, after which the only taxation 10 winch
II subject is six per cett UPON It's profits 10 DC
paid TO the State Treasurer. Bot great adsap-
sge that j, poseesats over other banks 's deuFeo
from the peculiar state Of tue times. It's charter
is insiolatc While every other bank in the STATE,
has by refusing to pay specie Tor liz noes, violated
s charter and thrown itself upon tbs tender mef-
cies of the Legislature, who !; issery extensively
believed, will. in accordance with the views oi
large part Of commonnr. very greatly restrict tho
number Of Banks. IL would therefore seem from
all these considerations that the stock OF the Ran
Road Bank, could not fail to yield a profit 10 It's
stockholders of eleven or twelve per cent. II
then there are any who after candidiy examining
all the facts connected with this subject, entertain
doubts whether stock in the Rail Road and Bank
conformity, will n safe, prudent, and even pfot-
able investment, il must be that they are celermn
| ed nothing shall convince them. But IT. alter all
the farmers of this section OF the country, and
others, who will be SO sgnally benefited BY The
Rail Road, are unwilling to subscribe TO the stock
as an investment for profit, they are entreaed &c
do so ss contribution 10 great public enterprise
To obviate an objection that many entertain it
subscribing for stock, (vz: That the money paid
upon the first ins,alment will remain long time
idle in the hands of the commissioners, and per-
haps after much tInuble be finally returned to The
subscribers,) committee win be appointed tc
make subscriptions TO the stock for those wht
wish: who will give note 10 the committee fol
| the amount of the first instalment, upon lht
shares for which he wishes to subscribe
and power Of attorney authorizing the committee
to make such subscription, to which note a cond
ton will be annexed that il the whole stock j,
not taken by q certain time, the note shall be void
but if it is taken and the number of shares FOL
which he shall have subscribed is allotted to him
then the note shall be obligatory ard be paid &C
cording to its tenor and if less number Of share,
shall in the distribution be allotted to him. he
shall pay such proportion of the note as the nun
Der Of shares allotted to him shall bear to the
number subscribed by him the committee viii
then without expense to the maker Of the note
raise the money upon it, and pay It over to III,
commissioners upon making the subscription, ant
thus while they accommodate the subscribers /,
the stock avoid any violation of either the spiri
or letter Of the charter.
The committee have now in very imperfec
manner discharged their duty, and they leave thu
result with the people 1t is not expected ;ha
large amounts of the stock will be taken by par
ticular individuals. but it is hoped that every mem
Der of the community will contribute in proportion
to his means, and there can be doubt that If
united and vigorous efinrt be made it vii! result il
the taking of the stock.
MOSES M. STRONG. J
Z. l.. ORNsBRE, Committee.
! SOLOMON FooT, }