River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1884-12-25

praying that the proposition OF the chicago,
Freeport & st. Paul Railroad Company TO sald
town may be accepted by said town and carried
into effect will be presented to the resident tax
payers thereof for their signatures.
sition, is hereunto appended and made part OF
this notice.
Dated at my office this 10th day of December,
A d. 1884 C. 6. n. HEYERDAHLs
Town Clerk.
PETITION
To the town board of the town of Martell, in the
county of Pierce, state of Wisconsin,:
Whereas, a definite proposition In writing 10
said town has been duly delivered to the town
Paul Railroad Company, which proposition is IN
the words and figures following viz;
PROPOSITION.
The Chicago Freeport d ST. Paul Railroad
Company, railroad corporation duly organized
under the laws of the states of Illinois, Wlscon-
sin and Minnesota, hereby makes the following
proposition to the town of Martell i'll the county
of Pierce, state of Wisconsin, viz,
FIRST That said town subscribe 10 ana IoI
One Hundred 600 shares OF the capital STOCK OF
said railroad company, of the par value OF one
Hundred Dollars per share -, E.,
SECOND, That said town shall fully pay foI
said shares of stock so subscribed for, by duly
issuing and delivering TO said railroad company
its Municipal Bonds to the aggregate amount OF
Ten Thousand $4,000 Dollars III denominations
of $500 EACH dated on the LIST day of July, A. d.
1885, and payable in the current money OF tne
United States to said railroad company or 10 tne
bearer thereof, on the LIST day OF July A. u. 1910
or at the option of said town, on the lst DAY o
July of any wear prior thereto. each OF SAID DonuS
to bear interest from date at the rate OF SIX pei
centum per annum, payable seml-ann \ a IN ~
current money of the United States and ev1denc
ed by interest coupons thereto attached, payaD
to said Railroad company or bearer, on the mrs.
days of January and July in each year; botf
principal and interest being payable at the OF
flee OF the American Loan and Trust Compan!
in the city of New York,
THIRD, That in consideration OF the due &C
nf this DrODOSi1lOn,
ton; issue and delivery of said bonds OF salc
town to said railroad company, said raliroac
company hereby agrees ana BINDS Itself 70 lssu t
and deliver to said town One hundred (lOU1 1ul
paid shares of its capital stock, of the par value
OF One Hundred Dollars Per share which sale
stock shall not be liable to any further payments
or assessments whatever.
FOURTH That Immediately upon the accept
anee of this proposition by said town, its proper
officers shall subscribe for said stock upon tn'
books of said railroad company, and snail duly
execute, issue, and deposit in escrow, with IL
Halyorson of said town as trustee, all OF sale
bonds; and that said railroad company snail, ~
the same time issue and deliver to the said trus
tee the certificates for the said full paid shares
of its Capital Stock; and that when the ra1lroao
of said railroad company shall have been com
pleted and in operation by the passage OF cars
continuously from the terminus thereof at Free
port H. northward to its depot in the town
Martell county of Pierce, state OF Wisconsin, a
any time withli .nree years from tne uate VI tll
proposition, said trustee shall thereupon, ano
not before or otherwise, deliver all OF sald toWl
bonds (after having first detached therefrom anc
destroyed all interest coupons thereon whlcL
shall have become due to said railroad company
and all of said stock certificates TO the sald Town
Provided always, that when said railroad sinai
have been completed as aforesaid, salu toWl
may at its option, redeem said bonds by pawn
the amount of the principal thereof Ill cash u
said railroad company.
FIFTH. The delivery of said bonds, or in
case the same are redeemed as aforesaid, the
said sum of money in lieu thereof, TO sald rail-
road company, shall be a full and complete pay,
ment for said stock, and said town shaI! not DC
subject to any assessment or further naplL ~
whatsoever on account of its acceptance OF TINS
proposition. s,.o. - %. -
moves from the state, resigns or becomes otheI-
wise incapacitated, the town board OF SAID town
and said railroad company may agree upon an,
other trustee to act in his stead; and IN case OF
their failure so to agree, such other trustee may
he appointed by the Judge of the Circuit Court
for said county
SEVENTH, The said town bonds shall not be
valid in the hands of said railroad company, OF
of any other person or corporation, until the
said line of railroad shall be completed as ABOVE
provided and if the same shall not be SO COM
pleted within three years from tne aaoe eIe oil
bonds and stock certificates deposited IN esero"
in pursuance thereof. shall thereupon be ana De-
come absolutely null and void.
EIGHTH, Said railroad company shal mol
be consolidated with, nor lease or purchase, or
be leased or purchased by. nor in any way De
come owner OF or control, or become owned OF
Controlled nv any other railroad corporation
which controls a parallel or competing line OF
railroad.
NINTH, Said railroad company shall estatb,
Iish and maintain one or moro depots III SAID
town, at such point or points upon, its line Of
railroad as viii best accommodate the people.
IN TESTIMONY WHEREOF, The said railroad
company has caused this proposition
obe signed by its President and Sec
rotary and its corporate common
seal to be hereunto affixed, this 10th
day of December, A. ID. 1884.
THE CHICAGO, FREEPoRr, AND 81
SEAL PAUL RAILROAD COMPANY
BY W. o, WRIGHT, President.
Attest: NJ. III. WILcoXoN, Secretary.
Now THEREFORE,, We, the undersigned, being
actual residents of said town, who were each
assessed for taxes upon real or personal estate
therein, as shown by the last assessment roll
thereof do hereby respectfully pray that sald
urouoe ition NAV be accepted by said town, and
carried into effect; and as in duty bound your
petitioners viii ever pray,