Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1857-11-20
WHOLE NO. 2666.


and execute good and sufficient conveyance purchaser
thereof as provided in chapter oryhree of title thirteen OF the
compiled statutes relating TO the partition of real estate
SEC Every company formed under the provisions of this
act SHALL from the time its articles association fled
aforesaid, be corporation, vested with all the powers rights,
privileges and franchises for maintaining and operating its rail-
road which vested in and enjoyed by the corporation
gagng it. and it shall bo subject to like duties and liabilities
and shall be subject to the future legislation of this State and
may at take possession of and maintain and operate said
railroad and may proceed any manner may deem expeden
either by purchase otherwise to obtain the title and owner
ship the and benefit Of the whole estate and satisfy
the undivided interests claims of any other party parties in
eosted said railroad and until the interests Of such other
parties shall become vested such corporation said corpo
ration shall he the trustees thereof and shall be accountable
therefor tenants in
SEC g. copy Of any articles of association filed and
corded pursuance Of this act of the record in the Offices Of
the county clerks and certified to be copy by the secretary of
state bis deputy by the clerk Of either of the counties in
which is directed TO be fled shall be prcsumptve evidence Of
the incorporation of such company and of the facts therein stat
eds aud it shall 80 the duty OF every corporation formed under
inns act 10 Keep safely and have the custody OF the records title
deeds and archives of the corporation previously (ownng) and
morgagng such rail road and the clerk of any such corpo
ration shall be and hereby created the certifying officer of
matter document relating to said former corporation.
SEC If there should be of neglect or failure to
corporation under the provisions of this act when
mortgage has been rccoed if the railroad which the
mortgage exists shall be sold assigned by virtue of any oder
decree Judgment of any court then and in that event. when
the purchaser purchasers grantee or grantees shall acquire title
to the in the prescribed by law, such purchaser
purchasers grantee grantees shall have take and possess all
the rights and privileges in this act herein before granted
to majority Of the boudhoders, aud be subject to like duties
and associate with him them any number of persons and
make ana HE articles OF before prescribed
by this act and shall tcrcupon be corporation with all the
powers privileges and franchises and be subject all the duties
granted to imposed upon railroad corporations.
SEC g. This act declared to be public act and to take
effect Immediately.
SEC Nothing contained in this act shall be construed to
impair affect the rights claims of any person party
against any railroad corporation in this State against the
trustees assee of any such railroad corporations but such
claims debts shall remain without prejudice, they were be-
fore the passage of this
SEC TO- Whenever sale shall be made of any railroad
property under by virtue Of railroad mortgage
of sale thereof for the security Of any debt of railroad com
pany when such sale shall be made under the order of
court creditor number of creditors of such road
under such mortgage, may within three months next after such
sale pay into the court of chancey making such order of SALE
order of sale has been made into the court of chancery
in county through which such road located for the
Of the purchaser such SALE bearing the proportion
to the price paid by such purchaser with twelve per cent inter-
est thereon from the time of such SALE that the debt held by
such creditor under such mortgage bears to the whole amount of
debt outstanding under such wheeupon such creditor
paying shall have legal and equitable interest in all the
property sold in with such purchaser in the proper
ons aforesaid and all such the court of chancey shall
have power summary adjust the rights of the
parties and grant such specific relief the nature of the
may require
Approved, November II, 1857.