Mineral Point tribune. [volume] (Mineral Point, Wis.) 1854-1858, 1854-12-20
RAILROAD MEETING.


for the purpose of taking some preliminary steps
to place the company such a basis as will re-
store its credit and secure the completion of the
road.
On motion of Chas. F. Legate Esq, the meet.
ing was organized by the appointment of Hon.
: NJ NJ. CoTHRES Chairman, and n. B. BoTDEs,
a Esq, Secretary.
$ The Chairman made some remarke in relation
to the importance of immediate, united and Wig
orous action, and presented copy of some reso-
lutions adopted by the Directors of the Rail Road
f Company asf follows:
OFFICE OF THE MINERAL PoINr r. R Co.
Mineral Point, Dec. L. 1854.
Resolred That for the purposes of increasing
l the stock subscriptions, OF the Mineral Point K.
R. Co. to ffteen hun fred shares of full paid stock.
the individual members of the Board of Directors
pledge themselves TO subscribe ard pay for, in the
aggregate, two hundred and fifty shares inclusive
of the amounts already subscribed and paid for by
them; such subscriptions not to be binding unless
the amount of one thousand sSares shall be sub
scribed, and ten per cent. paid in.
Resolred, That all monies paid on subscriptions
to stock in the Mineral Point r. r. CO. shall be
deposited with the Wisconsin Bank, drawing in
terest at tina rate of six per cent. per annum, TO
the credit of the Treasurer, unti ten dollars per
share on one thousand shares shall have been so
deposited including such shares as said sum has
heretofore been paid in, and that no money so de-
posted, shall be drawn out, until the aforesaid
amount shall be paid and deposited as aforesaid.
And If said sum shall not be paid and deposited
| as aforesaid, By the first day of February next,
the sums SO paid with the accrued interest thereon
shall be paid over TO the several persons who
shall have paid the same.
Resolred That as soon as one thousand shares
of stock in the Mineral Point r. R. Co shall be
subscribed for and ten per cent on each share paid
| in. that meeting of the Stockholders shall be
called 10 agree upon Board of Directors, and
the present Board individually pledge themselves
that they or so many of them as shall not be Sc
lected at such meeting, will resign by one
and fill the vacancies thus created with such per-
sons as shall be agreed upon, at such meeting of
Stockholders.
hereby certify that the above are true copies
of resolutions passed. this the eleventh day of
December, 1854. majority of the Board being
present, and voting in the affirmative.
ROBERT S. SCHUYLER, Secretary
Mr. Strong being called upon made some re-
marks. giving a statement of the present condition
and future prospects of the company, and showing
that if bona Jfde stock subscription could be
raised and paid in, of 81 so 900, including amounts
heretofore paid, that the balance of the means
could be raised, abroad, to pay all the debts of
the company, take ~ and discharge all the coun-
ty bonds, and secure the completion of the road.
| On motion of C. C. Wash burn, the following
form OF subscription adopted
Form Of raeU subscription to Stock Of Mineral Point
! Rail Rood.
| We the undersigned hereby severaly subscribe
for the number of shares OF the Capital Stock of
I Dit D. - o.
site respective names; and we agree to pay
TO the President Directors and Company of the
i Mineral Point Rail Road one hundred dollars for
each share subscribed, their Office IL Mineral
Point as follows, VIZ:
Ten dollars on each share so soon as one
| thousand shares subscribed and an additional
sum OF ten dollars each share, including sums
heretofore paid, on the first day of every month
thereafter, until the whole is paid.
This subscription is on the following conditions:
1st. That this subscription shall be in leu of all
former Subscriptions OF a CORES ponding or less
| amount.
2nd That no certificate for full paid stock shall
be issued, unless hundred dollars shall be act
uay paid IN each share for which such CERT
fcate shall be issued.
3rd That all payments heretofore made by
any stockholders shall be applied in payment of
this subscription.
4th That all monies paid on this subscription
shall be deposited in the Wisconsin Bank to the
credit OF the Treasurer of said Company and shall
vest In or be drawn out for the use OF said Com
pany, but remain the property of the subscribers
until responsible contracts for the completion Of
said road shall be made by Board of Directors
TO be agreed upon by said company in conform
ty with resolution passed with the present
Board of Directors, Dec. II, 1884, and in case no
such contract shall be made within twelve months
then such sums paid and deposited shall be re,
| l,1e tn .;rb
interest upon the same.
On motion OF C. Woodman, committee was
appointed TO circulate the subscription list and
the following persons appointed by the
meeting; NJ. NJ Cothren John Bracken, CYRUS
Woodman, Thomas Davey, John H. Vivian.
Henry Koop, Moses NJ Strong, and Whitney
Smith,
On motion of John Bracken, it was resolved
that all persons present, will individually and col
ectively use their best efforts TO procure stock
subscriptions.
Amasa Cobb Esq, made some remarks in re
aton 10 the liability of the tax payers to pay the
amount of principal and interes; on the county
bonds issued to aid in the construction of the road
in the event of its non-completion He was fol
lowed by c. Woodman, Esq, to the effect that the
county not only liable in its corporate ca
pacity, but that judgment could be obtained in
the U. S Court, and collected by levy upon the
individual property of any citizen of the county
and on his motion IT was
EesOlred, That the President of the company
address Hon. Henry NJ. Billings, Hon. George
w. Hio!:cox, and the Hon. Lemue W. Joiner. and
such other persons he shall think proper in
relation 10 the liability of the citizens of the
county on the county bonds.
On motion the meeting adjourned
NJ. NJ. COTHREN, Chairman,
\. B. BorpES, Sec'y