The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1872-03-06

Company may deem proper, and to issue
It's bonds under its seal therefor, and fol
the purpose Of securing the payment o
tho principal and interest OF It's bonds aS
issued according to their tenor and effect
II may execute and acknowledge FOL
record proper deed Of trust upon all IL
property, including this charter. Said
bonds may by resolution Of the Board o
Directors Of said Company, be made
convertible into tho stock Of tic Com
pany.
10. The Council of tho city of Wheel
Ing may subscribe In the name and
on behalf Of said city, to the capital
Of said company to an amount not ex.
CeCding five hundred thousand dollars
and may pay for Its subscription In the
bonds Of said city or otherwise. Pro.
ylded, that before any such subscription
shall 10 made the maximum amount
thereofshall beproposcd and the question
whether such subscription shall DO made
or not shall be submitted under suitable
regulations, TO be prescribed blythe Coun.
Gil OF said city, and unless at least q
thrce.tiiths majority OF the votes cast
shall be In favor Of making auch Subscrlp.
ton, the same shall not be made.
ID. The county OF Ohio is hereby au.
thorized and empowered to subscribe to
tho capital stockof said company to an
amount not exceeding three hundred
thousand dollars, and TO pay for lis sub.
scription In It's bonds or otherwise. Pro-
vided, that no such subscription shalt be
made for or on behalf of said company
until tho maximum amount thereof shall
be proposed and the question whether
such subscription shall be made or not
shall be submitted under suitable regula.
tons, TO be prescribed by tho Board of
Supervisors Of said county Tor such OH.
GERS or board Of officers as shall then have
the management Of the affairs Of said
county, to a vote Of the persons qualified
to vote in said county for members Of the
Legislature Of this State, and unless a
three.fflhs majority OF the votes cast
shall be in favor Of a subscription, the
same shall not be made. I!
10. II the said city OF Wheeling and
the said county Of Ohio, or either of
them, shall make any such subscription,
the aid.city.and county are hereby sew.
orally authorized and empowered to
issue coupon bonds to an amount suffi.
cient TO pay for its subscriptions, payable
at such times and place, and at such rate
of interest, not exceeding seven per cent,
as the Council Of said city or the proper
officers Of said county shall direct; and
to secure the payment Of the principal
and interest Of the bonds issued, the said
city or county may cause to be executed
in its name and on its behalf a proper
deed OF trust on its respective stock in
said company. y ~
1G. Any and oil persons and corpor.
ratiOns may subscribe for, own, hold and
convey stock in said company, which
shall be held as personal estate, transfer.
able on the books OF the company at It's
general office Of business, hereby estab.
lished in the cityof Wheeling. The Leg.
stature reserves the right to alter or
amend this act but such alteration or
amendment shall not effect or impair the
right ofthe creditors to have the property
and assets thereof applied in the dis.
charge Of their respective claims, or Of
the stockholdersto have the surplus, which
may remain after providing for the debts
and liabilities OF the corporation, dIstrib.
uted among the stockholders according
to their respective interest.