River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1885-01-01
COFFINS,
Caskets
First publication Dec. 1871
,tice of Petition for Railroad Aid.

To the Residents and Taxpayers Of the town of
Gilman, county of Pierce state ofWiseonsin;
Notice is hereby given to all whom 1t may con
Germ, that after the Sth day of January, A ID.
1885, a PETITION to the Board OF said TOWN,
praying that the proposition OF the CHlCAGO,
FREEPORT d. 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 copy of said PROP
osITIoN, is hereunto appended and made a part
Dated at my office this 8th day of December,
A. d. 1884 G. H. GILBERT, Town Clerk.
PETITION.
To the Town Board of the Town of Gilman, IN
the county of Pierce, state OF wisconsin,:
WHEREAS, definite PROPOSITION in writing
to said Town has been duly delivered to the
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, 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 co SHARES of the CAPITAL STOCK OF said
RAILRoA D 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 nddeliveringto said RAILROAD COMPANY
its Municipal Bonds to the aggregate amount OF
Seven Thousand &, COO DOLLARS il. denominations
of $500 each, dated on the first dayof July A. d.
1885, and payable in the current money OF the
United States to said RAILROAD COMPA NY or 10
the bearer thereof, ON the LIST day of July, A. ID.
1905 or at the option of said Town. on the LIST 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 semi annu-
ally in current money of the United States, ana
evidenced by interest coupons thereto attached,
PAYABLE to said RAILROAD COMPANY or bearer on
the LIST days of January and July i'll 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 SeVenty(1UfULL
PAID SHARES of it's 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 &C
ceptance of this Proposition by said TOWN, its
proper officers shall subscribe for said stock up
ON the books of said RAILROAD COMPANY ana
shall duly execute, issue, and deposit i'll 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 10 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, 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 1erwise deliver all OF
said Town Bonds (after having first detached
therefrom and destroyed all interest coupons
thereon which shall have become due 10 SAID
! RAILROAD COMPANY, and all of said Stock Ger
tiicates to the said Town PtOO;9ed, AfWdys, 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 prlLc1
pal thereof IN cash TO sald KAILRQAD COMPANY,
FIFTH, The delivery OF said BONDS, or in case
the same are redeem ed as aforesaid the SAID sum
of money in lieu the reof, 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 act, re-
moves from the state, resigns Of becomes other
wiseincapacitated the Town Board ofsaid Town
and said RAILROAD CoMPA NYInav agree upon an
other trustee to act in his stead; and in case of
their failure so to agree such OIL er trustee may
be appointed by the Judge of the Circuit Court
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-
come absutely null and void
EIGHTH Said RAILROAD COMPANY shall not
be consolidated with nor lease or purchase, or
be leased oripurchased by,nor in ANY, 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 viii best accommodate the people.
INTESTIMONY WHEREOF, The said RAIL
ROAD COMPANY has caused this
PROPOSITIONS to be signed by its
President and Secretary, and its
corporate common Seal to be hereun-
to Affixed this Sth day of December,
~ A, ID. 1884.
SEAL THE CHICAGO, FREEPORT AND
81 PAUL RAILROAD COMPANY.
by W. o. WRIGHT, President
Attest: NJ. II. WILC0XO4+, Secretary.
Now, THEREFORE,, We, the undersi gned, being
actual residents of said Town, who were each
assessed for taxes upon real personal estate
therein, as shown by the last assessment Toll
Proposition may be accepted b. said Town, and
carried into effsct; and as in duty bound your
petitioners vii. ever pray.