River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1884-12-25
RIVER FALLS, WISCONSIN.
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 Il 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. ID. 1854. q. ID. GILBERT, Iown CLERK.
PETITION.
To the Town Board of the Town of Gilman in
the county of Pierce, state of Wisconsin:
WHEREAS a definite PROPOSITION in writing
Town Clerk thereof by THE CHICAGO, FREE
PORT IL ST. PAUL RAILROAD COMPANY,
which PROPOSITION is in the words and figures
following, viz:
PROPOSITION,
THE CHICAGO FREEP0RT & ST. PAUL
RAILROAD COMPANY, a railroad corporation
duly organized under the laws of the States of
Illinois Wisconsin and Minnesota, hereby makes
the following PROPOSITION to the TOWN OF Gilman
in the county of Pierce State OF Wisconsin,, VIZ:
FIRST, That 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
SECOND, That said Town shall fully pay for
said shares of stock so subscribed for, by duly
issuing and'deliyering to said RAILROAD COMPANY
its Municipal Bonds to the aggregate amount OF
Seven Thousand7 00UDoLLARS i'll. denominations
of $500 each, dated on the first dayof July, A. ID.
1885, 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.
1905, at the option of said TOWN, on the Isl DAY
of July of any year prior therefor each OF SAID
Bonds to bear interest from date at the rate OF
six per centum per annum, payable semi-annu-
ally in current money ofthe United States, ana
evidenced by interest coupons thereto attached,
payable to said RAILROAD COMPANY or bearer. on
the LIST days ofJanuary 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, ana the que e&ecu,
| ton is sue and delivery of said Bonds OF said
Town 10 said RAILROAD COMPANY, said RAIL-
| ROAD COMPANY hereby agrees and binds Itself to
| issue and deliver to said Town SeventyQUFULL
PAID SHARES of its CAPITAL STOCK, OF the par val
ue 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 ac-
ceptanee 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 as 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
| of cars continuously from the terminus thereof
at FreepOrt, H., 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 Otherwise deliver all OF
| said Town Bonds after having first detatched
! therefrom and destroyed all interest coupons
| thereon which shall have become due 10 said
: RAILROAD COMPANY, and all of said Stock Ger
tifoates to the said TOWN Provided, Always, that
| when said railroad shall have been completed as
aforesaid, said Town may, at its option, redeem
said BONDS by paying the amount OF the primer
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
to any assessment or further liability whatsoey
er on account of its acceptance OF this PROPOSE
ton.
moves from the state resigns or becomes other
wise incapacitated,t the Town Board of said Town
and said RAIIRoA CoNIPA NYlmay agree upon an
other trustee to act in lis stead and in case of
their failure so to agree, such other trustee may
be appointed by the Judge OF the Clrcun 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 ana be-
come absutely null and void.
EIGHTH, Said RAILROAD COMPANY shall not
be consolidated with, nor lease or purchase, or
be leased orjpurchased 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
PROPOSITION to be signed by its
President and Secretary, and its
corporate common Seal to be heTeun-
to affixed, this sth day of December
~ A, d. 1851
SEAL THE CHICAGO, FREEP0RT AND
~ ST. PAUL RAILROAD COMPANY.
BY w. o. WRIGHT, President.
Attest: NJ r.. WILC0XON, 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.