Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1857-11-27

Sec. 3. At such annual meeting the bond.
holders or creditors under such mortgage
may proceed to nominate not less than
three nor more than FIVE trustees, under
said mortgage. for the year ensuing, to hold
their efhce until others shall be legally ap-
pointed in their stead and on such nomi-
nation each bond-holder or creditor under
sueh mortgage, by himself or proxy, shall
be entitled to one vote for every hundred
dollars owing to him and secured by said
mortgage and a majority Of the trustees so
nominated shall he residents of this state.
SC 4. The proceedings OF such meeting
may. In summary manner, DO presented
by any party in interest t. any CHANCELLOR
within whose district said road is loca ted !,
either in court or at chambers, whose duty
1t shall be forth@ith to appoint dty for u
bearing, and order such notice to interest
cd parties as he may deem proper, and at
such h:nring he shall have uower to ratify
aud confirm such nomination, and make
such order and decree for the purpose Of
OF Transferring the property to such new
trustees he NAV deem necessary and just
and such order and deer shall he filed in
the Office of the clerk OF slid court
Sec 3. The trustees so designated and
conn med as aforesaid, and their successors.
e!al be corporation, under the name and
style ot the trustees of the r ilroad clm.
phhy under whose mortgage such trust IN ~
nave been created, by its corporate n ime,
III which nu'ue they shall h, Id all the trust
property, and sue and be sued, and as such
corpora ion, shall have the right TO run,
manage and operate the said railroad du-
ing the continuance Of the sid trust -
lhe members OF the eaid corporation, so
organized, may elect one Of their number
PRESIDENT or mike snch organization as
they deem necessary and proper not incon-
siStent with the trus and may FL any va
cAneies that occur in their number during
the terra for which they are appointed
SEQ. t. Every chancellor within this state
sha'l have jurisdiction Of all clses arising
der TINS uct, accor ing to tho usages
and practices OF courts OF chanoery, and of
all questions arising out Of railroad mort
cages, and shall hava power, In = summary
III inner. to remove any trustee under any
railroad mortgage whether such trustee be
IN possession OF such railroad or not and 10
appoint new trustee in his stead whether
sucn trustee BE- nominated by the bondhold-
ers or creditors as in this act provided, or
not, and may fill any vacancie. that may
ARISE In any such tru t. The said chancei-
lor, o" application of any person interested
mary m ,nnrr ~ y ,.n.e a". ~ sun
appear before him, AMI may examine them
Orally, or otherwise, touching the business
OF their trust, and may take such further
atl!on IN the premises. and make such or
uefs nnd DEGREES therein, as IN his opinion
Jdeuc9 aud equity require.
60 I. Inns act shall take effect from its
passage. avn '''
Auvroved Novemhsr IN 1872
No. Ian ACrto axnsd;,. p,;
AZ ,-.,,u,.r, II, r.y,rI N ~ ,.
Railroad Aiurtr,".s "
HiS bc,.by ,ngciId dc
So
~, ,,,.. 'N' owners OF hoi'ers
VI onieieions secured
,n,,,, f1,,, " au amount not
t,.r 6,u ."ous'nd uoiiafs, and IN mum
su,.,, ~, I""t' ueuih any trustee OF
,.,',,'I','es - W y: an unsuitable person
h., ,,.,,.,'',, Viu'', they may apply
n; r. .,,,. 80 ior tne remOv-
., .,,nr,1 ,,,.,,'.,,r -, L ' 81, ior'" IN
s.,.L .,.,I ~ s'ounus anu reasons Tor
,i,,,,.,.,.,,,.i, 0"Ai' s"efeupon
, 81 '.,',.t' ~ 49,! 'o' "'ai ing such Petl-
"a D. - ~ ,,,. -,
,,.,.,,.-. ;r-...,.i "'i " an o'ner
-, Nv 0ourl snaii take
,,,, 49,, Ao'io0 VI sue aPP!'ca-
-, 49,, -. N P'oo' VI "e"iihS, |
a.. nt,,', 49,, ,'',,,'-''' " ~ ie7ioe ou' VI
=, ~ or'i' ~ o"e Ut ino'e
Y .,. WI AZ DoS'o" anu
r.
f- "o "et'i "S' ehe Peutioh' |
"4 ius'ees uui u!I ether witnesses
,r o'"''y o-iofo tue cndhcel-
,,,,,., t.N,.-I1'. s'."'' '@H'h'''; rs u ai ALI
.,'1.,. ~ ,,,,n - nts'e 5, Ut oihis'
rs ~ ''' u'nceS anu clinpe
as 10 t"e'' hoiuin'
, =, ,,,t,"-c VI " Hds'oS any inter-
..I.l',,r, 1n''o VI ff''ato nature in'
~. - ~. '''"..' Wy VIZ" ''e Iu' inter
IN ,.,,y v.,yu,,,, , =, 'nV'I ieri"s
iar,l'I cJ.c1u,,.. -, = ,ra G,.,' ' a al Iui'
trusts and .,I,7r,,Iiy Az ~ ,,u ,t,o n;,a ''"
.t,I,c,s ar sa,,t,,.,,, I,,., rrns,a. h-.
.oi.l.r ;, ,n..v,,,.--,n, r,r 49,, ;., "n'o,
he trn.t T., ,,,,I;,,ui ,h,
mon surl hu,,t,u, ma, cn,,,o.,,L,r Cd 49,,
,l..,, ,,,,,,t, -, ~, r,l,1,,, Ia
leon. his r,,',L .n,II ,,,,n,,;o, ,
rt4,Irr ,,., -,,,,. ,I
Tu.t, and d!,.r.rs 49, ~. ,-.n.,o
.,ny.v,,,.,.e -, ~, ,,,-, s..,S ~, anu
a., H. t,,. ,,..., ,r,,.,,.,.. r y - VIC
lie bis ami li.,,I,tjrs nI,Ia off ,,u.1.. s
md Lb,. a., ,,,...,,, -, ,n.,s.,,. 49, ~
u.c ln4.4,,.m..,. OF ,h,, trus, AMI rho 40
.ou;,.,uy ,5,r,nr and ,an.r.Iio a, - 81,
,thvr matter. ana th,ny. ,.n.,,ud u,;,h
ucu trust a. m, e,,,.y,o;,, -, ~ o.
lie Irotec!jop Of the q a trnstees and IN,
cum, ann u.it,re nth, trus, INA ,h.,I,
,quIrc.
~ 2 ;r ,ha TYNE, &c g. ro.a L.
,,.loi m. chanr.lI,r mn ga, Il, ,h.y
III, ,,,.,,,,y - .. 10y
IN wI,r,, g.. NJ. h.. an, ,.>,,'.
49,, ,,,,,.,,,',,.... ,n-r.,, and RI. ,,fnn,..,.,
', f.,,'',-....''' +, tn,, t,,.tIm,nv -
III 49,. -, 49,. 49,
yurt;--lo ms enu the chancellor
All tAAo lull minus OF the testimony