The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1872-06-27

The following Is from IT. wayne
paper:
1t is 4 settled fact that if the Con-
tinental Railway is ever built, Fort
Wayne will be an immense gamer by
it. Those who think it is a mere CHI
merieal plan are requested to read the
following from the Indiana Sentinel,
of the 18th inst, which will be good
news to all of our citizens:
Articles of consolidation made and
entered into, April s, 1872, by and be-
tween the New York Western Rail-
way Company, a corporation duly
organized and empowered to build,
maintain and operate railroad or
railroads, with one or more tracks,
within the States Of Iowa, Illinois,
Indiana and OhiO-party Of the first
part, and the Continental Railway
Company a corporation duly created
by the laws of the Commonwealth of
Pennsylvania-par of the second
part, were filed with the Secretary Of
State Saturday. The consolidation
takes the name of the Continental
LAAAAh1y SOAl DeALy anu - " Ag t5Af~
erned for the time specified by the
following Board of Directors:
Abraham y. Coleman, New York
Silas NJ. Hubbard, Brooklyn, New
York; Jas. NJ. Coleman, Brooklyn,
New York; Hon. F. w. Hughes,
POttsville, Pennsylvania; Hon. Geo.
Greene, Cedar Rapids, Iowa; James
Z. Abbott, Rock Island, Illinois; to
p1 NUaNr.1arN..v- sr,T
1873, and until their successors are
duly elected and qualified. Alvin
Burt, New York; Edward Hodge,
Brooklyn, New York; Hon. Z. V.
Bronson, Kewanee, Illinois; Hon.
r. S. Dwiggins, Rensselaer,, Indiana;
Hon. w. z. Noble, Tiffin, Ohio; John
E. Hall, Brooklyn, New York; to
serve until the Sd "Wednesday in June,
1874, and until their successors are
duly elected and qualified.
The following named are the officers
of the corporation to serve until their
successors are duly elected and quali-
fed.
Edward Dodge, President.
James Z. Abbott, Vice-President.
Silas NJ. Hubbard, Treasurer.
Jas. A. Coleman, Secretary.
Hon. +. w. Hughes, Local Vie
President, Pennsylvania.
Hon. w. p. Noble, Local Vice Pres
ident, Ohio.
Hon. r. S. Dwiggins, Local Vice
President, Infiana-
Hon. L. V. Bronson, Local Vice
President, Illinois.
Hon. Geo. Greene, Local Vice Pres
ident, Illinois.
The New York Western Railway
Company and the respective corpora
tions Herewith consolidated are to
maintain their local organizations
under the control and direction of the
Continental Railway Company, with
an officer in each Of the States where
in said local organizations exist;
whose President shall be Vice Pres
ident OF the Continental Company.
The local organizations respectively
are to carry out the conditions rela-
tive to local aid and the right of way,
depot grounds, ETC., made respective
ly with the Central Railway COnstTue-
ton Company in their contracts for
the construction Of said road.
1t is provided that "the stOckhOld-
ers OF the local companies shall cause
all their charter stock to be transfer
red to the President Of this company,
and his successor, as trustee therefor,
and shall be entitled to stock in this
company for the same number of
shares so transferred all such local
stock to be so transferred at the time
that it is issued.
It shall be lawful for such eOnsOlida-
ted company to create an Advisory
Board, Of not less than seven nor
more than eighteen, Of Directors in
Europe, whose general Office shall be
in the city of London, England, with
power to establish auxiliary offices
elsewhere on the continent OF Europe
the said organization TO be known
and designated as the London Board
Of the Continental Railway, with the
right to have a common seal. The
said Board shall have such rights and
exercise such powers and prerOgatiyes
as may be from time 70 time delega-
ted to them by the bylaws Of the said
consolidated company. The said
London Board may appoint an agent
to represent the said board in the Uni
ted States Of America, which said
agent shall be admitted 10 take part in
the meetings Of the American Board.
'fhe capital stock Of said eOnsoli-
dated company shall be S1OO, 600, 900,
divided into one million shares Of 500
each; stock to be subscribed and paid
for under such rules and regulations as
said consolidated company may pre-
scribe. The said cOnsOlidatedcOmpan
shall have power to borrow money and
| issue bonds therefor, secured by mort
gage or deed Of trust upon all its prop
! erty, real and personal, and its fran
/ chises, for such amount as may be
needed 10 build and equip its entire
/ line of road said bonds to be Of such
/ denominations as its directors may
| deem best, to bear rate Of interest
not exceeding seven per cent per
anuum, payable semi-annually, the
/ principal and interest payable IN gold
coin in the city OF New York or Lon
don, at the option Of the holder; the
said bonds to run period not excred-
ing sixty years in the aggregate. All
bonds sold outside Of the United States
shall be eOuntersigned by the Presi-
dent and Secretary OF the London
board and have its seal affixed there
/ to.
''The private property Of stoekhOl-
/ ders in said consolidated company
shall not be liable or subject To- the
payment Of any debt or liabilities
thereof; and ali contracts, agree
ments, and undertakings, made by
the said consolidated railway eompa-
ny in the construction Of its said line
Of railway, or any part thereof, or
for labor or materials used therein, or
otherwise, shall especially provide
against such personal and individual
liability Of stockholders.
This late clause will hardly stand
the pressure in this State Of the act