River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1885-01-08
The Housewives Favorite.
Wagon Shop in connection.
First publication Jan. /, 1885.
Notice of Petition for Railroad Aid.


To the Residents and tax payers of the town
of Clifton, County OF Pierce, State of
Wisconsin,:
Notice is hereby given to all whom it may
concern, that after the 10Th day Of January A.
D. 1856, Petition to the Town Board OF said
town, praying that the Proposition of the
Chicago, Freeport St. Paul Railroad Com
pany to said town may be accepted by said
town and carried into effect, win be present
ed to the Resident Taxpayers thereof for
their signatures.
Said Petition, embracing copy of said
Proposition, is hereunto appended and made
q part of this notice.
Dated at my office this 18th day OF Deem
Der, A. d. 1884.
T. j. ATwATER, Town Clerk.
PETITION
To the Town Board of the town of Clifton,
in the County of Pierce, State of Wis
cOnsin:
WHEREAS, definite Proposition in writing
to said town has been duly delivered to the
Town Clerk thereof by the Chicago, Free
port and st. Paul Railroad Company, which
Proposition is in the words and figures fol-
lowing, viz:
PROPOSITION.
The Chicago, Freepors and st. Paul Rail-
road Company, railroad corporation duly
organized under the laws of the States of
Illinois, Wisconsin and Minnesota, hereby
makes the following proposition to the town
Of Clifton, in the county of Pierce, state OF
Wisconsin, viz:
FIRST, That said town subscribe to and
for One Hundred (l00) 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 delivering tosaidrailroad company
its municipal bonds to the aggregate amount
of Ten Thousand 100000 dollars i'll denomi-
nations of $500 each, dated on the lst day of
July, A. D. 1885, and payable in current
money of the United States to said railroad
company or to the bearer thereof, ON the LIST
day of July, A d. 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 inter-
est from date at the rate of six per centuIn per
annum, payable semi-annualIy in current
money Of the United States, and evidenced
by interest coupons thereto attached, paya-
bic to said railroad company or bearer, on
the LIST days OF January and July of each
year; both principal and interest being paya-
bic at the Office of the American Loan and
Trust Company in the City of New York,
THIRD, That in consideration of the due
acceptance of this proposition, and the due
execution, issue and delivery of said bonds |
OF said town to said railroad company, said
railroad company hereby agrees and binds
itself to issue and deliver to said town One
Hundred tlo0) full paid shares OF its capital
stock, Of the par value of One Hundred Dol |
lars per share; which said stock shall not be
liable to any further payments or assess
ments whatever,
FOURTH, That Immediately upon the ac-
ceptance OF this proposition by said town, it's
proper officers shall subscribe Tor said stock
upsn the books OF said railroad company
and shall duly execute, issue, and deposit in
escrow, with J. s. Copley, of said town, as
trustee, all of said bonds; and that said rail-
road 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 comp leted
and in operation by the passage of cars con-
tinuously from the terminus thereof at Free
port, H., northward to its depot for the vii
| age OF River Falls, county OF Pierce, state Of
| Wisconsin, at any time within three years
| from the date OF this proposition, said trus-
| tee shall thereupon, and not before or 9TH
| erwise, deliver all of said town bonds latter
having first detached thereirom and destroy
| ed all interest coupons thereon which shall
have become due to said railroad company,
and all OF said stock certificates to the said
! town; Provided, always, that when said
railroad shall have been completed as afore-
| said, said town may, at its option, redeem
said bonds by paying the amount of the
| principal thereof in cash to said railroad
| company.
| FIFTH, The delivery of said bonds or in case
| the same are redeemed aforesaid, the said
| sum Of money in lieu thereof to said railroad
| company, shall be full and complete payment
! for said stock. and said town shall not be sub
ject TO any assessment or further liability what
soever on account ofits acceptance of this prop
osition.
| elATH In case said trustee refuses 10 act re-
moves from the state resigns becomes other
| 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
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 ifthe same shall not be so CON-
pleted within three years from the date hereof,
then the agreement to this proposition, and ali
bonds and stock certificates deposited in escrow
in pursuance thereof shall thereupOn be and
become absolutely null and void
EIGHTH, Said railroad company shall not be
consolidated with, nor lease or purchase, or be
leased or purchased by, nor in any way become
owner of or control, or become owned or con-
tToled by, any other railroad corporation wb' ch
owns or controls parallel or competing line of
railroad
Ninth, Said railroad company shall estab-
lish and maintain one or more depots 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
III to be signed by Its president and sec
rotary, and its corporate common
seal to be hereunto affixed, this 18th
day of December, A. d. 1854
~ THE CHICAGO, FREEPoRT B ST. PAUL
! SEAL. RAILROAD COMPANY.
- BY W. o. WRIGHT, President,
Attest: VI. 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
/. | therpof do hereby resDectfIllV prav that said