Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1867-04-03

assent
SIC. g. In case the conditions espresso,
in any instrument of assent that shall b,
lsigncd by majority Of Taxpayers of any o.
said towns as herein provided shall rcquir,
the issue by said towns Of any bonds under
the provisions Of this act, then the treasurer
and sclcctmen Of such town shall make ant
issue such bonds in accordance with the rc
quiremcnts of said conditions. And iu cas-,
they shall fail 10 make and issue the sam,
for "a period Of thirty days after % demand IL
writing therefor made upon them by any
party entitled thereto, or entitled to th,
money 10 be- raised thereby, then the con.
trnct, subscription, or purchase specified IN
said instrument shall be valid against said
town as an immediate liability, the same "a.
if no condition for the issue Of such bond.
had been contained therein
SIC. 9 This act shall take effect from 10.
passage
Approved March %, 1867
An Act TO enable the Bennington and Rut-
land Railroad Company TO aid in obtaining
necessary Railroad connections
Il is heredy enacted, etc
Sec ] The Bennington and Rutland
Railroad Company are hereby authorized and
empowered to subscribe for, purchase. or ac-
quire the bonds Of the Lebanon Springs
Railroad Company, corporation existing
in the State Of New York, OF the bonds OF
stock Of any other Railroad Company, now
or hereafter organized, whose road may con
meet with the Bennington and Rutland Rail
road, or with any railroad connecting there
with, in such manner and direction a. 10 af-
ford 10 said Bennington and Rutland r0ad
communication by railroad with New York,
Albany, or Boston And to hold, or TO sell
assign, OF dispose Of such bonds OF stock, up
on such terms as they may think proper and
TO guarantee the payment of such bonds or
Of dividends on such stock and % make any
contract incident thereto.
Sec p The said Bennington and Rutland
Railroad Company are hereby further au-
thorized and empowered 10 issue their
bonds, at a rate Of interest not exceeding
seven per cent. per annum, payable semi-an-
nunlly, and 10 execute a mort gage or deed
Of trust of their said railroad and franchise
or other property, or % pledge the income
thereof, either for the purpose OF securing
the payment of sand bonds. or of securing the
performance Of any guarantee or contract
that may be made by said Company as au-
thorized by the first section Of this act
See 3 No contract shall be- made by said
Company under the authority conferred by
this act, until such contract shall be author
lied by vote of the directors of said company
and approved by vote Of three-iourths in
amount of the stockholders Of said compa-
ny, at a legal meeting thereof
Sec 4 This act shnll take effect from IT,
passage
Approved March y, 1867
An Act to Incorporate the Rutland Railroad
Company
h IS hers5y eaqcted, etc
Sec. l. John b Page, Edwin A Birch
ard, Peter Butler, John b. Taft, James 5.
Whitney, Aaron b Spencer, Frederick Chat
fee and John 5 Eldridge bond holders under
the second mortgage or deed Of trust on the
Rutland and Burlington Railroad. in the
State of Vermont, their associates and sue
ccssors are hereby incorporated under the
name of the Rutland Railroad Company, for
the purpose Of holding, maintaining and OPP
Grating the said railroad, and as such shall
have succession and be entitled 70 all the
rights and privileges of a corporation
Sec . The capital stock Of said corpora
ton shall be three millions Of dollars divided
into shares Of one hundred 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 corpora
tion and 70 receive in lieu 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 effect TO
incorporate said company unless the holders
Of three fourths in amount of the bonds is
sued under said second mortgage shall with
in four months after the passage Of this act
surrender their bonds as hereinafter pro-
yided.
Sec. 4 John Prout and John Howe, Jr. A.,
are hereby appointed commissioners whose
duty it shall be to 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 the time and place
when and where they will sit to receive sub
scriptions for the stock of said corporation
in exchange for the bonds aforementioned
And the books for such subscription shall re-
main open at least ten days after the last
publication of such notice. And said COM
missioners shall at the time and place APP
pointed proceed TO receive such subscriptions
and TO receive the bonds in exchange there
for. And no such subscription shall be re-
ceived for a greater sum than the amount
due as herein provided upon bonds under
said second mortgage, actually deposited by