Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1854-11-30

to make their redemption in Boston in the State
Of Massachusetts,, or in the city of New York
in the State of New York, at the election of
said bank.
Sec. 2. Banks who make their redemption
IN the city of New York, in manner agreeably
to the provisions of said section, shall be enti-
tiled to the attachments of the tax mentioned IN
said section.
Approved, November II, 1854.
No. 26-An act relating to subscriptions for
bank stock Ill.
is hereJy enacted by the General Assembly
of the State of Vermont, as foHops:
Sec. l.. The commissioners appointed to re-
oeive subscriptions to the capital stock OF any
hank. or the increased capital Of any bank, are
hereby authorized to examine, under oath, any
person or nersons relating to subscriptions for
stock ia such bank.
Sec. 2. Section one hundred and two OF chap
ter eiahty-lonr of the complied statutes, ana
the proyisos thereto are hereby repealed
See. 8. This act shall take effect from Its
passage. ,or,
Approved, November, IA, 1854.
No. 27,--An ACT in relation to savings banks.
1T is hereby enacted by the General Assembly
Of the State of Vermont, as tol!olcs:
Sec. |. The several savings banks, acting
auder charters granted by the Legislature of this
State, are authorized to demand and receive in
terest on their loans at the rate of six per cent
MN per anuum, payable semi-annually.
Sec 2. This act shall take effect from its
passage.
Approved, November IA, 1854.
No. 2S.-An Act in relation to the shares OF res
ident and non resident stockholders in Rail
road Corporations
n is hereby enacted by the General Assembly
of the State of Vermont, as t0ttoaos
Sec. |. It shall be the duty of the clerks OF
tho several railroad corporations in this State to
certify annually to the clerks OF the several
towns in this State in which any stakeholder of
,such CORPORATION may reside q true list of the
names Of all such stockholders, with the num-
Der of shares standing against the names of all
such stockholders, on the books OF such corpo-
ration, on the first day of April in each and ev-
cry year hereafter, together with the amount
maid in on each share.
Sec. 2. 1t shall be the duty of the clerks of tho
several railroad corporations in this state to
certify to the treasurer of this state, true list
Of the names of all the stockholders in such cor
poration residing without this state, and the
number of shares standing against the names of
all such stockholders on the books of such cor
poration, together with the amount actually
paid in on each share, on the first day of April
IN each year hereafter Procided howerer that
no certificate as herein before required in tho
foregoing section of this act, shall be made by
such clerks of said corporations unless such rail
road corporation shall earn. yield OR receive an
annual income, profit OF dividend of six per cent
or more, to the several stockholders therein.
Sec. 8. 1t shall DO heduty Of the treasarers
81 the several railroad corporations in this state,
t,n Or before the first day of August, annually,
TO pay, as tax, into the treasury of this state,
for the use Of the people thereof, one per cent
Zen each and every share in any and every rail,
road corporation, which shall be owned by any
person or persons residing without this state
whenever snch railroad corporations shall earn
yield or pay, to the Stockholders therein, an an
ual income, profit or dividend Of six per cent, OF
more, on each and every share of said stock
snnd said shares or stock shall be held liable to BE-
,.distrained and disposed of by any collector o.
taxes in this state, on a warrant issued by TIT
treasurer Of this state, for that purpose for the
payment of said one per cent. tax, as aforesaid
Under such regulations as appertaln to the col
lection of taxes on bank stock or shares OF per-
sans residing without this state.
Sec. 4. Iu case of the distraiHing and selling
Of any railroad stock or shares for the payment
ef said tax or taxes, sn pursuance Of the provi-
sions of this act, such sale shall have the legal
effect to conveya legal and valid title to the pur
chaser or purchasers Of such stock or shares, 50
dis.rained and disposed of.
Soc. s. 1t shall be the duty Of the president,
directors and company of any and every railroad
corporation in this state, to cause the several
clerks and treasurers of thor respective corpo-
Eations to faithfully discharge the several duties
imposed upon them, as aforesaid, by the preccd-
Ing sections of this act and any failure on the
part Of such clerks and treasurers to discharge
the duties imposed upon their several corpora
lions, as'aforeaaid, shall be deemed to be fail
ure on the part of the corporation whose clerk
or treasurer is guilty of such neglect; for which
failure, said corporations, in their several corpo-
rate capacities, and their several directors, shall
individually be held responsible to the treasurer
OF this state
Sc. 6. The treasurer and clerk of every
railroad corporation within this state, shall BE-
residents of this State, and the Offices Of the
treasurcrs and clerks, and all books and papers
pertaining TO such Offices Of treasurers and clerk
Of said railraod corporations, shall at all time
be kept within this State, except said books ant
papers be temporarily moved and detained with
oatt the limits of this State by order Of judg,
Of the supreme court Of this State, for the pur
pose of being used in evidence in suits actual.
pending in neighboring State, and in such cas-
TO he detained during tho term of court at which
slch suit is to be tried
See. 7. In case said trcasurers or clerks o.
any of Them belong to, or doing business for
aid corporations or any one of them, shall TO
the space Of ten days, after the time specifics
in sections one two and three of this act, 10
the discharge of the several duties therein poin
ted out. neglect or refa Sc in good faith to dis
charge said duties so imposed by this act, the
they, the several clerks and treasurers, or an,
or each of them, who shall be guilty of sue
neglect for the space of time aforesaid, sha
forfeit and pay to the treasurer of this state
fine of five hundred dollars, for the use of thi
state, for the first offence so committed, and
further fine of one hundred dollars per day 10
every day they, or either of them, shall b9gnil
~ Of such neglect thereafter
Scc 8. II shall be the duty of each an
svsry railroad corporation Of this state, on tn
first day Of January of every year hereafter, t
lodge with the secretary of state the names O
It's clerk and treasurer, and their place of bust
aess within this state.
Sec. 8. All fines and forfeitures provided 70
IA this act shall be recovered in an action on tn
case, upon this statute, to be commenced an,
prosecuted in any county in this state, in tn
name and behalf of the treasurer of this state
who is hereby authorized to prosecute the same
See. 10. An act entitled " an act relating t.
the shares Of residents and non-residents stock
holders in railroad corporations" approves
December 6, 1858, is hereby repealed.
Approved, November IA, 1854.
No. Gan act relatiating to service of pro
cess on nonresident trustens of railroad cor
v,nra tinns 81.