Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1853-08-18
State Of Vermont,
Franklin County.

John Smith, John E. Thqytr, Hi IN CHAN
ham Raymond Lee, HiNam H. Gerry.
Greg rsoa, Robert c. Hooper,
and John Q. Pratt.
The compliments 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. ID. 1851, the stock
holders Of sand Company at a meeting duly call
ed and holden for that purpose, recommended
TO the Directors TO issue the notes or obligations
Of the Company 10 the amount Of - 100000
payable m ten years. with the interest semi-an-
nually at the rate of per cent. 10 be secured
by deed Of trust and mortgage of the Compa
ny's road that said Directors in pursuance OF
sand vote. and to raise money 10 pay the debts Of
the company, on the 10Th day of October, A. u,
lc5l, caused such deed TO be executed ofther
road and It's equipment to certain individuals
therein named, in trust for the security and pay
ment of SAID notes and obligations. / hat on the
FIRST Of December 1851 said Directors issued
and sold TO various individuals the notes and OBJ
legations Of the Company IN conformity TO said
recommendation which are secured by said mort
gage. and that the said John Smith John L.
Thayer and William Raymond Lee, hold said
property in trust under said mortgage for the
payment of said notes and obligations.
That further SUM being required to com.
plete said road and pay the debts of the Compa-
nv, the conpainants at legal meeting of the
Corporation held on the 4th and 9th Of May
l-l9, recommended 10 tee Directors to raise the
additional sum of Sl,5O0,U0d. 10 be secured By a
second mortgage or the same property That
m pursuance of this recommendation, the Direc-
tors on the 20th OF said Nay, caused second
deed Of mortgage to be executed to the indlWd
uas therein named in trust for the security and
payment Of said : 100000
Hoo 3. a.r..l D. 1900
formliy 10 this recommendation to various per
sons winch are secured by said deed aud that
the said William II. Gregerson Robert c. Hoo
per, and John c. Pratt are the Trustees holding
SAID property under sand mortgage.
That about the first day Of July, y. d. 1892
the Complunanls aad falling due debts TO a large
amount, and 10 raise money TO pay said debts,
SAID second mortgage had been created. That
IN consequence Of the Insolvency Of the late
Treasurer Of the Company, the credit Of the
Company was SO impaired, that a sale OF the OBJ
legations secured By said second mortgage could
not be effected for any considerable amount
hat thu Directors fearing that the equipment
of SAID road would be attached, and thai 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 to ex
ecule to the Trustees of said first mortgage, a
deed of surrender OF all the property mentioned
in said mortgage, and also to convey the right
Of the compliments 10 run the Vermont &Canada
Road, all which property was TO be held by them
in trust, for the uses and purposes mentioned in
said mortgage.
That on the 29,h day of June 1852 such deed
was executed, and that SAID Trustees took pos
session of said property under II on or about the
same day, and ever since have held the same and
run and are now running said road. That at the
time of said surrender there had been no breach
of said mortgage.
And further setting forth that said deed Of sur
render provides that said Trustees may deliver
back to the Company all sand property "when-
ever in their judgment the interest of the bond
holders will permit, subject, however, 20 the said
mortgage" has the compliments have been
able TO pay off a large proportion OF their in
debtedness, and are now able to pay and do
charge their debts and the interest Of said mort
gage debts as the same shall become dne
That a large majority of the stockholders aud
bond holders are DESTROYS that said property
should be placed under the control and manage
meut Of the compliments, and praying that
decree may be passed 10 effect this object.
And It being made 10 appear 10 the ourt that
the persons interested IN the subject matter OF
said bill of complaint, as holders Of said notes
and obligations, issued by said Cooperation and
secured by said mortgage deeds, arc numerous
and many of them residing without the jurisdic-
ton of the I curt, and that many OF them are
unknown TO the compliments and that Il Is there
fore impracucable to make all of such holders of
such notes and obligations parties to said bill OF
complaint, by the ordinary process of subpoena
Therefore Il is ordered that the owners and
holders of said notes and obligations secured BY
either of said mortgage deeds mentioned 10
said bill of complaint, have leave respectively to
appear and defend said bill OF complaint, by FL
ing their petition for that purpose in the Office OF
the Clerk of this Court, at 81 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 l9th day Of September,
A. ID ls53.
Done at ST. Adams in the County of Franklin
this eighth day Of August in the year ofour Lord
one thousand eight hundred and 6fty-three.
ii:2t ASAHEL PECK, chapo,goy,