River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1884-12-18
First publication Dec. 1871
Notice of Petition for Railroad Aid.

To the Residents and Taxpayers of the town of
Gilman, county of Pierce, state of Wisconsin:
Notice is hereby given to all whom II may con-
Germ, that after the sth day OF January, A. d.
1885, a PETITION to the Board of said Town,
praying that the proposition OF the CHICAGO,
FREEPORT & ST. PAUL RAILROAD COMPANY
to said Town may be accepted by Said Town
and carried into effect, will be presented to the
RESIDENT TAXPAYERS thereof for their sigma
lures.
Said PETITION, embracing a copy of said PROP
osITIoN, is hereunto appended and made part
of this notice.
A. d. 1881. G. H. GILBERT, Town Clerk.
PETITION.
To the Town Board of the Town of Gilman, in
the county of Pierce, state of Wisconsin:
WHEREAS, a'defnite PROPOSITION in writing
Town Clerk thereof, by THE CHICAGO, FREE
PORT & ST. PAUL RAILROAD COMPANY,
which PROPOSITION is in the words and figures
following, viz:
PROPOSITION,
THE CHICAGO, FREEPORT d ST PAUL
RAILROAD COMPANY a rsil.oad corporation
duly organized under the laws of the States of
Illinois Wisconsin ara Minnesota, hereby makes
the following PROF osITIoN to the TOWN OF Gilman
in the county o. Pierce, State of Wisconsin, viz:
FIRST, ThGt said Town subscribe to and for
Seventy go SHARES of the CAPITAL STOCK OF said
RAILROAD COMPANY of the par value OF One
Hundred dollars per share.
SECONJ That said Town shall fully pay for
said shar IS of stock so subscribed for, by duly
issuing FnQdellVer1llgGO SAID RAILROAD COMPANY
its Nun cipal Bonds to the aggregate amount OF
Seven housand(7 600 DOLLARS APPROXIMATIONS
of $500 each, dated on the first dayof July, A. d.
Is IS and payable in the current money of the
United States to said RAILROAD CoMPA NY or to
the bearer thereof on the LIST day of July, A. ID.
1906 at the option of said TOWN, ON the lSt day
of July of any year prior thereto; each of said
Bonds to bear interest from date at the rate of
six per centum per annum, payable sem1-annu-
ally in current money OF the United States, and
evidenced by interest coupons thereto attached,
M yah n said ID
the LIST days of January and July in each year;
both principal and interest being payable at the
office of the AMERICAN LOAN AND TRUST COM
PANY in the City of New York.
THIRD That in consideration of the due ac-
ceptance of this Proposition, and the due execu.
ton, issue and delivery of said Bonds OF said
Town to said RAILROAD COMPANY, said RAIL
ROAD COMPANY hereby agrees and binds itself to
issue and deliver to said Town Seyenty(70 FULL
PAID SHARES of its CAPITAL STOCK, of the par val
ne of One Hundred Dollars per share; which
said stock shall not be liable to any further pay
ments or assessments whatever.
FOURTH, That Immediately upon the &C
ceptance of this Proposition by said Town, its
proper officers shall subscribe for said stock up
ON the books of said RAILROAD COMPANY and
SHALL duly execute, issue, and deposit in escrow,
with N. A. Nelson of said town trustee, all of
said Bonds, and that said RAILROAD COMPANY
shall, at the same time, issue and deliver to the
said trustee the certificates for the said full paid
shares of its Capital Stock; and that when the
railroad of said RAILROAD COMPANY shall have
been completed and in operation by the passage
at Freeport, ILL.,. northward to its depot in the
town of Gilman, county of Pierce, state of Wis
consin, at any time within three years from the
date of this Proposition, said trustee shall there
upon, and not before or OF lerwise deliver all of
said Town Bonds after having first detached
therefrom and destroyed all interest coupons
thereon which shall have become due to said
RAILROAD COMPANY, and all of said stock Ger
tificates to the said TOWN PYoUfded, AiUGyS. that
" hen said railroad shall have been completed as
aforesaid, said Town may, at Its option, redeem
said BONDS by paying the amount OF the princi-
pal thereof in cash to 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 said RAILROAD Com
PANY shall be full and complete payment for
said stock, and said TowN shall not be subject
to any assessment or further liability whatsoev-
er on account of its acceptance of this PROPOSE
ton.
SIXTH, In case said trustee refuses to actre-
moves from the state, resigns or becomes other
wise inoapacitated the Town Board of said Town
and said RAILROAD COMPARATIVELY agree upon an
other trustee to act in his stead; and in case of
their failure so to agree, such other trustee may
be 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,
or 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 the date hereof
then the agreement to this Proposition, and all
Bonds and Stock Certificates deposited in escrow
in pursuance thereof shall thereupon be and be-
EIGHTH, Said RAILROAD COMPANY shall not
be consolidated with, nor lease or purchase, or
be leased oripurehased by,nor in anyway become
owner of or control, or become owned or con-
trolled by any other railroad corporation which
owns or controls parallel or competing line of
railroad.
NINTH, Said RAILROAD COMPANY shall estab-
lish and maintain one or more depots in said
town at such point or points upon its line of
RAILROAD as win best accommodate the people.
INTESTIMONY WHEREOF, The said RAIL
ROAD COMPANY has caused this
PROPOSITIONS be signed by its
President and Secretary and its
corporate common Seal to be hereun-
to affixed this Sth day of December,
~ A, d. 1884.
SEAL THE CHICAGO, FREEPORT AND
~ ST. PAUL RAILROAD COMPANY.
By w. o. WRIGHT, President
Attest: N. II. 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 said
Proposition may be accepted by said Town, and
carried into effect and as in duty bound your
petitioners will ever pray.