Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1875-10-07
Railroad Election.
SPECIAL ELECTION NOTICE,
Shall Lancaster Vote Aid for the Building OF a
Railroad

WHEREAS, The "Grant County Railroad
company has deposited in my Office tn,
proposition which is hereinafter set forth 70
the building of railroad from the village O
Platte to the village of Lancaster in sait
county, therefore, under the direction Of the
Board of Supervisors Of said town, hereby
notify the electors resident therein that
special election will be held on the I'd day o
November, 1875, at the courthouse ia sale
village; at which time and place the saiC
electors will determine by their votes whe thel
they will accept such proposition or moi; anC
ner as general elections are required to bs
hedand conducted in said town.
The proposition made by the said "Grant
County Railroad company'' to the said town
of Lancaster is substantially as follows:
WHEREAS, The "Grant County Railroad
company" is about to construct a railroad
from the village of Plattevile in Grant County
Wisconsin, to the village of Lancaster, in sale
county, and desires aid from the town Of
Lancaster in said county in the construction
of said railroad, the said ''Grant County
Railroad company" makes to the said town OF
Lancaster the following proposition:
The said Railroad company desires the
bonds of the said town in a sum, not tc
ton of all the property in said town for the
year 1874, to-wit in the sum of forty three
thousand dollars.
No interest shall accrue on said bonds BIZ
the town until the said railroad company shall
have entered into contract or contracts with
some person or corpor alton for the conStruc
ton of said road or some part thereof, or fol-
labor or materials for the same and expended
money thereon to the the amount of, at least
five thousand dollars.
Said bonds shall be payable at the expira
ton of ten years from the date of such cen
tract, and interest thereon at the rate of tel
per cent. shall be paid annually TO the holders
Of such bonds, respectively, and the town, a
its option, may pay the said bonds or any par
thereof, before they become due. The dat,
when the interest on each bond shall begif
to accrue and from which the ten years begin
to run shall be determined and inserted il
each of said bonds, as the proper date thereof
by the board of supervisors of the said town
of Lancaster.
The said bonds are not 10 be delivered {,
said company until il shall have finished sait
railroad ready for the passage Of cars from tn
| village of Plattevile to the line of the towl
| of Lancaster; when, at the option of the SAT-
town of Lancaster, one-half of the said bond
and the accrued interest thereon may be pai'
When the said company shall complete tn
said road from the village of Plattevile to
| depot or point not more than quarter of
mile from the courthouse in Lancaster, read,
| for the passage of cars, all Of said bonds shall
be delivered to said company.
The said railroad company further pro
poses, and agrees to issue, such a number o
shares of its capital stock as will, at the pa
value of such stock equal the principal sun
of such bonds; and the certificates of stool
shall be placed in the custody of George w
Ryand Esq, banker in the village of Ian
caster, or with such other trustee as the sal,
town of Lancaster may from time to tim
direct, and the bonds so issued by the tow
shall be held and kept by the same trustee
| and when all or any of the said bonds ar
delivered to said company, an equal nomina
amount of stock shall be delivered to sait
| town.
And the Directors of said compan,
further agree and bind themselve
and their company not to charge a higher rate
for fare or freight than is, or may be fixed By
the laws of this state in reference TO roads o
class similar to that to be built by the salt
company.
But if the said company defers the com
mencement of the work on SAID road for al
much as year from the time of the vote oil
this proposition, the trustee shall, on demand
deliver up the SAID bonds to the authorities o
said town to be cancelled, and the said GER
tifcates of stock shall be null and void.
This Proposition signed by the Presiden
and Secretary of said company and sealeC
with its seal
HUGH A. MOORE, TSEAL.]
President Grant County K. R. Co
(Sgned) JOHN G. CLARK, CSEAL.
Secretary Grant County r. r. Co
Witness my hand, Lancaster this It'll day
of September, 1875.
AUG. MIcHAELIs, Town Clerk.