Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1853-08-25
The Maid of Sarago
State of Vermont,
Franklin County.
The Vermont Central Raiirood Go.

hftg foUNs IuOtt - tAotHtit I
and John r.. Pratt.
The cotnplainants having filed their bill Of
complaints in said Court against the said defend
ants, stating among other things, that, on the
the 18th day of October, a. d. 1851, the stock
holders Of said Company, at meeting duly call
ed and holden for that purpose, recommended
20 the Directors to issue the notes or obligations
OF the Company TO the amount of - 100000
payable 300 ten years, with the ln,eres, seminar
nuuily at the rate Of per cent. to he secured
by deed Of trust aud mortgage of the Compa
nys road that said Directors IN pursuance of
SAID vote, and to raise money 10 pay the debts of
tine company, on the 10Th day of October, A. D.
1851. caused such deed to be executed Of their
road and Its equipment to certain individuals
therein named, IN trust for the security and pay
meut of SAID notes and obligations. hat ON the
/ first of December 1851. said Directors issued
and sold to various individuals the notes and OBJ
/ hga ions otthe Company in conformity to said
recommendation which are secured by said mort
gage, and that the said John Smith, John +.
/ Thaycr and William Raymond Lee, hold said
property 10 trust under said mortgage for the
payment Of said notes and obligations.
That further sum being required to com
plcte sand road and pay the debts Of the Compa-
nv, he compliments a, legal meeting of the
Corporation held on the Ith and 9TH of May
/ lc59, recommended to the Directors 10 raise the
additional sum Of SI,5JO,t0d, 10 be secured by
second mortgage on the came property. That
~ pursuance OF this recommendation, the Dlrec-
tors on the goth of said Nay, caused a second
deed Of mortgage 20 be executed 10 the lndlyid
uals therein named III trust Tor the security aud
payment of said ) 100000.
i hat notes have been issued and sold in con
fonniiy 10 this recommendation TO various per
sons winch are secured by said deed and that
the said Willam II. Gregerson, Robert G. Hoo
per. and John G.. Pratt are the Trustees holding
SAID property under said mortgage.
That about the first day of July, A. d. 1882
the Compliments had falling due debts to a large
amount, and 10 raise money 10 pay SAID debts
SAID second mortgage bad been created. That
in consequence of the Insolvency of the late
Treasurer of the Company, the credit Of the
Company was SO impaired, that sale OF the OBJ
lgatious secured by said second mortgage could
not be effected for any considerable amount
hat IN Directors fearing that the equipment
of SAID road would be attached, and that they
should thus be deprived of the power Of run
ming the road, and of earning money to pay the
interest on the first mortgage debts, directed the
President and Treasurer OF said Company 10 eX-
ecute 10 the Trustees Of SAID first mortgage a
deed of surrender OF all the property mentioned
in SAID mortgage, and also to convey the right
oftho compliments TO run the Vermont &Canada
Road. an which properly was to be held by them
in trust, for the uses and purposes mentioned in
said mortgage.
That on the both day Of June 1852 such deed
was executed, and that SAID Trustees took pos
session of SAID property under It on or about the
same day, and ever since have held the same and
ran and are now running said road. That at the
time of said surrender there had been no breach
of said mortgage.
I And further setting forth that said deed of sur
AL.
back to the Company all said property "when-
eyer IN their judgment the interest Of the bond
holders will permit, subject, however 20 the said
mortgage" lha. the complainants have been
able to pay OFF a large proportion Of their in
debtedness, and are now able to pay aud dis
charge their debts and the interest of said mort
gare debts as the same shall become due
That a large majority of the stockholders and
bond holders are DESTROYS that SAID property
should be placed under the control and manage
ment Of the compliments, and praying that a
decree may be passed 10 effect this object.
And II being made 10 appear to the curt that
the persons interested in the subject matter Of
said bill Of complaint, as holders Of said notes
and obligations, issued by sand Cooperation and
secured by said mortgage deeds, are numerous
aud many of them residing without the lurlsdic-
ton OF the { curt, and that many of them are
unknown to the compliments and that II Is there
fore impraCtcabe to make all of such hOldC rs OF
such notes and obligations parties TO said bill OF
complaint, by the ordinary process of subpoena
Therefore II is ordered that the owners and
holders of said notes and obligations secured by
either of said mortgage deeds mentioned IN
said bill of complaint have leave respectively to
appear and defend said hd of complaint, by fill
ing their petition for that purpose in the office OF
the Clerk Of this Court, at 1T. Adams IN the
County Of Franklin, on or before the 18th day Of
September A. ID. 1853 and that they be notified
of the tendency of said bill of complaint, by
publishing the substance of said bill, together
with this order, two weeks successfully IN the
Boston Post and Boston Daily Advertiser, news
papers published at Boston IN the State Of Mass
achusetts aud in the Vermont Waterman and
Vermont Patriot newspapers published at Mont
pelier in the State of Vermont the last of which
publications in each of said papers, to be at least
twenty days before said 18Th day Of September,
A. ID 1853.
Done at st. Adams in the County Of Franklin
this eighth day Of August in the year ofour Lord
one thousand eight hundred and fifty-three.
4i:2t ASAHEL PECK, Chancellor.