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

until the amount OF bJnd-, to ho snrrrn 'eTel
Iv tho subsrriher. there ID T,r that puruJ.o.
sH Al he at least mllrity ir HnIu1; or
the prin, ip,l Of the honIs secured iy tbs
mort ~ r.lerr,I tJ in such articles LDr
until there il endorsed th-r .Jn, or unusN d
thereto. an aft livit ma Ie ~ at least t.teJ
of the direct i.s named in sIlJ articles iEIt
they have in good faith examined the ils- ot
such subscrihers and that ti"T 20 Ileys t.s
said subscribers tI b. the hyJers or r'f-e-
seutAtlges OF the amount Of bonds th ZEN
stated, and that they brlteve the sail sib-
scrihers IntenI !, in good f,ith, tD wTly
with the terms Of their subscription.
sec. 3 Any holder OF bond " hIri' S.
cured by such mortgage. may, within thirty
days alter the last public III Il ui th- nJrc.s
provided for in the stcluI sca,i.p Oh t.I5
act, either in person or by attorney u
agent, sub-erihI the ar.I.,-7 ut .-sot a,l.o,
or u copy thereof, Tor any amluu. vi s.Jsk
cquli to the amount of b,GLs hDIi hy h'n
or them. which b. or they intend e. .ur-
render to the directors u stl ucT cpnpt-
ny, in payment or IN trt payment '' bIN
Or their subscription but n5 u sul-nr.fIJu
shall be mad. for = TIA .tiu-N part # Il
snare ami wheu s holder Vi hJuI7 Would
otherwise be entitled t. ,LIs &. .'s IIr Is
fractional pIrt 4 d shl:' ht may sub
scribe for Il full sh4re md pay tu: excess la
cIsh.
Sec. /. In case any holder IT holder. y
bonds securei bV the mortgage rvtsfr1l 70
ia such articles vt usso o-iitlun. d..,ine or
neglect 20 suhscriho s,lI articles and u t--
come stockholders in the cJrnrtny fJ-ust.
the court of chancery may. uuon the aru,i-
cation Of such holde: or uIun the app'i4..
ton OF the new coinrqnv. ~ a L-rf' an.
holder or hyliers to he n,,i,nel IA and
comrany, and such comp.uy slr,u my such
sum Of money, at sue, ,im's ami ~ .uch
mAun,r. To tho other rIrtvar. t.lrt,..lst trc
commissioners appoigtgI ? tho court shall
itd,e 1ust and cuuItahl. and iT-iiI holder
or nod RS shall not ~, satisfied with such
appraisal AS aforesaid. the c,ur, snail ,r.l.r
tnc commlsso lers to sell such c.,t-s
at public or private .al-. .usr..,tlo
TO the order of the court. and ,x..,ts
a good aud sufficient c,nveyinc, , .n the tu-.
chaser thereof as nroyitei- in ohnr,ta- t'-,y.
three of title thirteen Of the cru,.ile .,,..
utes relatin, to the ptr,i,io7 Of rs,l s,t,t.
Sec. ). Egrrv co,urtnv formed mad. ,he
provisions of this act shall. from tL. tin,n
It's articles at n-spcl.tlg, are El.d af,r.-
said. be a c5rporatiln. vested with NIL ,5e
nowers. riyht,. rrivil,.,.s and i5,ncni.a, f,-
maintaininy and op,r.tiu, it, rlilr9 Al.
which were yested IN AMI ,ni,y.l by the
CORPORATION rnortracins it, AMI i, shall b,
subject to like duties and dlIabiliti.,uuIsliil
he Subject to the futury leci,Ati,a OF thi.
State: and it may at once Ak. possession Of
and MAINTAIN and operate said railroad. and
nav nroceed in anv manner j, mly taon
exnedient. either by purchase or otherwise.
Ia ubtsin the title and ownership. or the
use and benefit OF the whole es aye. and t.
satisfy the undivided interests ur rl inns or
upv other plrty Or parties iniere,.e! ln,.id
railroad; and until the interests ur slch
other narties shall be e.una vested ia such
new c1rpuration, said corpur.tion shall 70
the trustees thereof and shu! be a,cou.tL-
bic therefor rs tenants m common
5 c. 6. A copy Of any articles Of ass1-ia-
tion fiI.I md rerJrdel IN nur.uir.-. pt ,bi.
net or of the record in the o'f q, of tha
county clerks, and certified = boa coy by
the secr.t,rv Of State. or hi. I.cuty .r ~
the clerk OF either Of the countls, in whisI
il is directed to he fled, shall be pre,uup-
tive evidence Of the Incarceration ug suta
COMPANY, ami Of the facts therein stated.
and il shall be the duty of everv clralr..
ton formed under ,hi. Ac. t. :eep s.,.lr
and have the custody of the r,,yr,I.. ill.,
deeds ami archives OF the curugr.tiyn trs.
VlDuslN tDHnlHEl ana N JTtLII IltIF ElIl It.l
road; ana the clerk IT auy sG.u new cl-r.y.
rati N hail he and is hereby cr-l..l tls
rertifyin, otiic, OF uuy mat.-ro or Lycun.u.
relatin. to said former clrpyr.tlJa.
sec. :. If there should be Il case Of rcr-
lee. or failure to 1lg4u1s IL rev corp ~.
tiun under the rruyIsions If tLisuet when
il mortgage has been Ur.clJ,yJ. or lft,,o
rail road on when the mortgage exists,
shall be sold or assigned BY virtue Ct uny
order, decree or Judgment OF any cJu.t,
] then and in that event, when the pu. chaser,
| purchasers, grantee ur grantees. .hlll Lc-
| quire title to tie sane In the manner pre-
/ scribe by law, such purchaser, uucchaser,
grantee or grantees shalt have. tlk- M
possess all the rights powers ami privileges
10 this act herein before granted tuAlu,l5r-
ity of the bondholder-, Il d be sum e: Or
D. Ike duties, AN nay associate wash .Iu u
them any number OF person., ami *.
| sign and file articles of association Is b,lJre
prescribed by this -, aud SHALL thereup01
Ur u corporation with all the powers. lrly-
| lleges aud franchises, AMI he >uhi .ct t. all
the duties granted to u. imposed upon ri!
road corporations.
Sec 5. Inis act is declared to be pub
lie act, and TO take efset immediate y,
Sec. .. Nothing contained IN u act
MI ue cons'Iu ueu " InP'lr Ut AuetI lHe
/ rights or claims ul any person or party
against any railroad c>rpUr.tlJn in tins
Stu,e. or against tho trustees or ASST ianees
OF any sucn raj road corPnrat!Jn, Uut such
claims or debts shall remain without pr ju-
Dice, as they were before the pIssas, Vi llls
sct.
Sec ~ nrnevef d SAFE shlH oe m'de
OF any ralitoau property under o. by vir-
tue ol any raI'r'41 mortgage or power oi
ss'o .nelenI' iot 'ne security oI any de2-
VI any i'''rGia eou u!''ny' oF "neo sueh SAFE
snaii oe ma 40 uIIe' tue V'1vf o' Any court.
any 'reat'or & Gr any nu'uolI o' credltor7 OF
sun .uou 'o.a utu'i sue" 'no. s"ee' may "i'hln
.u.ee tnonsn' "eH' u'''r s'tn safe pay
M S, 'nT eou'' % ,Sh''Iy mAN'os sI'A
U'ue' N -, sa'G, " no o.I.' o' sIle ms
80 H'Ie' lu'o Wv S'u'' o' c" 'ncily