The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1881-03-21
NEW ADVERTISEMENTS
Portland B Rochester Railroad.

Portland 4 Rochester Railroad.
SUBSCRIPTIONS FOR STOCK.
DURSUANT to an Act of the Legislature of the
4 State OF Maine, true copy of which is as fol
STATE OF MAINE.
IN THE YEAR OF OUR LORD ONE THOUSAND EIGHT
HUNDRED AND EIGHTY-ONE.
An Act to Incorporate the Portland d
Rochester Railroad.
Be 1t Enacted By the Senate and House of Repre-
sentatires, in Legislature assembled as follo,os:
Stephen j. Young, Frederic Fox, Harrison j. Libby
John A. Waterman, Nathan Webb and William l.
putnam, their associates and successors are incor
porated under the name of the Portland g. Roches
ter Railroad, with all the powers and rights, and
subject to all the liabilities and duties of railroad
corporations, as provided by the General Statutes
of this State.
SECTION 2. Said corporation may acquire all the
rights, property franchises privileges and immuni
ties Of the Portland and Rochester Railroad Com
Pany in this State or in the State of New Hamp-
SHIRE by purchase, lease hereinafter provided
or partly by one method and partly by others.
SECTION 3. The capital stock of said corporatio
shall not exceed six hundred thousand dollars di-
vided into shares of one hundred dollars each.
Notice of reasonable fixed times ami places for sub
scripton to said stock, which notice shall include
copy of this Act, shall be given by said corpora
ton by at least three several publications in ono
daily newspaper published at Boston, Massachu-
Sets and in one daily newspaper published at Port
land Maine and any person or corporation who is
or may become holder of capital stock, debt or
other securities of the Portland g. Rochester Rail
road Company, shall be entitled within six months
from the last publication of said notice to subscribe
and hold ait nj
the times and places named In said notice. or at the
once OF said new corporation as lie will within said
six months pay for in said stock, debt other Sc
curites OF said Portland Rochester Railroad Com
pany, in the following proportions, viz:
FIFTY shares OF the capital stock of the Portland
KocheSter Railroad Company duly transferred to
said new corporation for one share of its capital
stock.
One hundred dollars of the principal of the float
ing debt of the Portland & Rochester Railroad Com
pany, without charge for accumulated interest,
duly transferred to said new corporation for one
The four hundred and fifty thousand dollars of
the bonds of the Portland g. Rochester Railroad
Company, with all unpaid coupons attached secured
by its mortgage dated November third, eighteen
hundred and seventy-one, duly transferred to said
new corporation for four hundred and fifty shares
OF Its capital stock and in that proportion for any
amount OF said bonds and coupons less than the
whole of the same
The three hundred and fifty thousand dollars of
the bonds of the Portland Rochester RAILROAD Com
pany with all unpaid coupons attached, secured by
Its mortgage. dated November first, eighteen hum
dred and seventy duly transferred to said new cor
poration for seventeen hundred and fifty shares of
Its capital stock, and in that proportion for any
amount of said bonds and coupons last named less
than the whole of the same.
The seven hundred thousand dollars of debts to
and liabilities assumed by the city of Portland with
interest due thereon, secured by the mortgages OF
June twenty fourth, eighteen hundred and sixty.
seven, and June twenty-ninth, eighteen hundred
and sixty-eight, under which said city of Portland
advanced said seven hundred thousand dollars duly
FOR hrap
thousand one hundred and ninety shares of its
capital stock and in that proportion for any amount
the whole.
Fractional holders shall be entitled to scrip. ex.
changeable on demand for stock, when presented in
sums equal to one share, or multiples thereof.
Stock not taken and paid for as above provided
may be issued for not less than par in cash.
Any corporation created by the laws of Maine
New Hampshire or Massachusetts, or by the laws Of
more than one of said States, shall have the same
right as any person, to take and hold stock of said
Portland u Rochester Railroad.
SECTION 4. Said corporation. its stock. property.
franchises and other rights shall be subject TO the
same public duties, and entitled to the same priv
eges as the stock, property, franchises and other
pany; and said Portland & Rochester Railroad
may, by vote of stockholders, lease all its railroad
property franchises, privileges and rights, eth
er Ofthem. to any other railroad corporation provd
ed said lease shall direct payment to every
stakeholder, of dividends not less than three
dollars semi-annually upon each share free from
all deductions whatever.
Whenever said new corporation shall have Sc
cured by transfer majority of any class of stock
bonds or debt OF said Portland g. Rochester Rail-
road Company, and deems it necessary in order tc
obtain quiet title to the railroad and appurtenan-
ess SrSperty rights franchises and privileges
may file bill in equity in either county into which
said railroad extends, for the taking and appraisal
Ct the interest in said railroad and appurtenances
property rights franchises and privileges he'd BY
any portion of said class of stock or debt not al
ready acquired by 1t, upon which bill in equity
to be tried by jury if claimed by either party other
wise by the court at nis prius, and thereupon the
value of said interest shall be determined at nisi
prias, subject to all rights of exception and of new
trials to be taken and heard as in suits at common
law; and the amount so awarded with interest from
date of award, shall be paid by said new corpora
persons entitedthereto and upon said payment into
court, said new corporation shall become the alb
solute owner of all said interest.
Said new corporation shall make parties defend
ant to said bills in equity the Portland g. Rochester
Railroad Company, all known holders of the class
OF stock or debt in controversy and if said class is
OF mortgage bonds, the surviving trustees to whom
the mortgage runs; but notice of the pending OF
said suit shall also be given by such publication
may be ordered by some Justice of the Supreme
Judicial Court, in term time vacation, and any
person interested in the subject matter Of said sui
may become party defendant therein.
SECTION 5. Nothing in this act shall be con-
strued as surrenderng the power to tax the
ton hereby created or the control of the legisla
ture over such corporation.
SECTION. 6. The first meeting of said new cor
poraton shall be held at Portland in the County OF
Cumberland, in said State of Maine.
SECTION 7. This act shall take effect when a D.
proved.
IN HOUSE OF REPRESENTATIVES,,
Feb. 1. 1881. I
This :. bin having had three several readings
Speaker pro tenn.
IN SENATE,
Feb. 2, 1881. I
This bill having Lad two several readings, passed
to be enacted. Jos. A. LOCKE, President.
FEBRUARY, 3, 1881.
Approved,
HARRIS M. PLAIsTED, Governor.
Which act has been Duly accepted by the cor
porators at a meeting legally called and held OF
the 9th day of March A. D. 1881
Notice is hereby given that books for receiving
subscriptions to stock in said incorporated company
upon the terms mentioned in the foregoing charter
will be-open during business hours on every day
from the 22nd day of March to the 2Sth day O
September, in Portland, in the State of Maine. a
the Office of George P. Wescott, Number 33 Plum
Portland g. Rochester Railroad Company, at the
foot OF Preble street; also in Boston, in the Com
monwealth of Massachusetts, at the office of c. d
Head and T. H. Perkins, Number 68 Devonshir,
| Street.
PORTLAND & ROCHESTER RAILROAD,
by GEO. P. WEsCoTT, Pres't.
| SPRING 1881,