St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1878-12-27
st. Johnsbury Bonds For Sale.

The town of st. Johnsbury, Vermont has out
standing one hundred and eighty thousand dollars
of six per cent. bonds issued to aid in building the
Essex County and Montpelier and st. Johnsbury
Railroads. upon which the interest has been regu.
larly and promptly paid.
By act of the Legislature at its recent session
the town was authorized to issue new bonds for the
purpose of refunding or retiring its outstanding
bonds. A town meeting was duly warned and
holden for the purpose of taking action under the
law referred to- AT said meeting it was duly yOt-
ed to raise money to pay thirty thousand dollars of
said bonded debt, and also to authorize the select
men of the town to issue fifty Thousand dollars of
new bonds to bear date March LIST 1879 and paya-
BILE twenty years from date or after five years at
the pleasure of the town, with interest not to ex
coed five per cent. per annum, payable semi annu-
ally the LIST days of Sept. and March, at the
First National Bank of Boston OF the First Ma
tional Bank of st. Johnsbury and to be registered
or have interest coupons annexed, as the seectmen
may deem advisable. And also to issue one hun
dred thousand dollars of new bonds at a rate of in
terest not to exceed four and onehaf per cent per
annum, payable in forty years from date or after
ten years at the pleasure of the town. in all other
respects to be hike the above authorized FIVE
twenty bonds.
The undersigned Selectmen of st. Johnsbury
will receive subscriptions for fve-twenty bonds
at five per cent? aud for the forty bonds at four
and half per cent and viii issue registered or
coupon bonds, as the subscribers may desire and
will open books for subscription at the office of the
treasurer of said town on the LIST day of January
next, which will be KEPT open until Che list day Of
February for subscriptions for either of said class
es of bonds. Any person holding the bonds of the
town may subscribe to exchange for the new bonds
and will be entitled to take them in preference to
subscribers tor money, The new bonds will be
furnished to Subscribers either for exchange or for
money, at the First National Bank of Boston. or
First National Bank of St. JOhnsbury, prior to the
LIST day of March. ~
The town of st. Johnsbury is one of the most
hourishing towns in New England The popula.
ton OF the town is about six thousand. The as
Ssessment valuation is about two and onehalf mil
lions or in exact figures after deduoting for fire
men, . 452, 4a1. The town has no debt except its
railroad bonds, By the law of Vermont the prop.
erty of every inhabitant is holden and may be tax
en- on debt against the town. By the new act re-
terred to the seectmen are required to assess tax
to pay the interest on these bonds without vote of
the town. and by the act the issue of the new bonds
Is made conclusive as to the liability of the town
upon the bonds There cannot be a safer invest
nent than these bonds offer. The object of the
town In this refundin is to lower the rate of inter
est on so much of their debt as they do not desire
now to pay.
Due notice will be given to all bondholders who
do not subscribe to exchange to present their
bonds tor payment on the LIST day of March next
VIM. HIGGINS, SeIectmen
LUTHER P. CHENEY, i St. Johnsbury.
F. ID. BLODGETT, Treas. Office in Bank Block
st, Johnsbury, VT, Dec. 10, 1873 GIGS 81.