The Vermont transcript. [volume] (St. Albans, Vt.) 1864-1870, 1867-04-12
An Act to incorporate the Rutland
Railroad Company.

An Act to incorporate the Rutland
Railroad Company.
II is bercby enqctd, de-
SEC. L. John b. Page, Edwin A.
Orchard, Peter Butler John b. Taft,
James S. Whitney, Aaron Is. Spencer,
Frederick Chatfee, and John S. Ell
bridge, bondholders under the second
mortgage or deed of trust on the Rut-
land and Burlington Railroad, i'll the
State Of Vermont, their associates and
successors are hereby incorporated
under the name of the Rutland Rail
road Company, for the purpose of
holding, maintaining and operating
the said railroad, aud us such shall
have succession and BE entitled to all
the rights and privileges of a corpora
ton.
SEC. 3 The capital stock of said
corporation shall be three millions of
dollars divided into shares of one hun
dred dollars each And every holder
of bond secured by said second deed
of trust or mortgage on said Rutland
and Burlington Railroad shall be en-
titled to surrender the same to said
corporation and to receive i'll lien
thereof one share Of capital stock for
each hundred dollars of principal and
interest due on such bond.
SEC 3. This act shall not take ef-
feet to incorporate said company I'M
less the holders of three fourths in
amount of the bonds issued under said
second mortgage shall within foul
months after the passage of this act
surrender their bonds as hereinafter
provided.
SEC 4. John Prout and John
Howe, Jr., are hereby appointed com
missioners whose duty it shall be &c
give public notice in one newspaper
published in the city of Boston, and
one newspaper published in each
county through which such road runs
for three weeks successfully, of tho
time and place when and where they
will sit TO receive subscriptions for the
stock of said corporation in exchange
for the bonds aforementioned. AnC
the books for such subscription shall
remain open at least ten days after The
last publication of such notice. Ant
said commissioners shall ut the time
and place appointed proceed to receive
such subscriptions and to receive the
bonds in exchange therefor. And M
subscription shall be received for {
greater sum than the amount due a.
; herein provided upon bonds under sale
second mortgage, actually deposited
by the subscriber at the time of hi
subscription with said commissioners
4 And if the holders of three-fourths il
r. amount of said bonds do not subscribe
for such stock in exchange therefor
then said commissioners shall return
to each subscriber the bonds so b,
9 him deposited.
@ SEC. 5. When the holders of three
S fourths in amount Of said bonds shall
, have subscribed for such capital stool
r. in exchange for said bonds in tn
T. manner herein provided, said commits
+ sioners shall certify the fact under thei
+ hands and seals, and cause such cert
G iicate to be recorded in the office G
r. the Secretary of State. And said com
= mlssloners shall then call the frs
+ meeting of said stock holders for tn
organization of said company, to b
h holden at Rutland on some day by sal
/, commissioners to be designated. An
; ten days notice shall be given by sal
II commissioners of the time and plac
" of said meeting to each of said stoc
holders, either personally on by mai
e properly directed and postpaid.
3, Src. q. The officers of said corpora
IS ton who shall be chosen at said firi
e meeting shall be not less than five, nc
e more than nine directors And sal
Is directors shall elect one of their nun
s, Der as president, and shall appoint
b treasurer and clerk And all sal
Ie officers shall hold Office for one yea
p and until others are duly elected {
appointed III lheii stead.