River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1885-01-15
The Housewives Favorite.
First publication Jan. /, 1885.
Notice of Petition for Railroad Aid.
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 18th day of January A.
D. 1885, a Petition to the Town Board OF said
town, praying that the Proposition OF the
Chicago, Freeport x st. Paul Railroad Com
pany to said town may be accepted by said
town and carried into effect, will be present
ed to the Resident Taxpayers thereof for
their signatures.
Said Petition, embracing a copy of said
Proposition, is hereunto appended and made
a part of this notice.
Dated at my Office this 10Th day OF Deem
Der, A. D. 1884.
TT. ATwATER, Town Clerk.
PETITION.
To the Town Board of the town of Clifton,
in the County of Pierce, State of Wis
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, Freeport 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 (100) 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 t10,000) dollars in denomi-
nations of $500 each, dated on the LIST day of
July, A. d. 1885, and payable in current
company or to 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 ofsaid bonds to bear inter-
est from date at the rate Of six per ceutuIu per
annum, payable semi-annuaIy in current
money OF the United States, and evidenced
by interest coupons thereto attached, paya-
bic to said railroad company or bearer, on
the 1st 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, ard the due
execution, issue and delivery of said bonds
OF said town to said railroad company, said
railroad company hereby agrees and binds
lLSEE 10 ISSUE anu OGllN6I 10 Sdlu LOWn O0e
Hundred (l00) 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, its
proper officers shall subscribe for said stock
upen the books OF said railroad company
aud shall duly execute, issue, and deposit ia
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 completed
and in operation by the passage of cars con-
tinuously from the terminus thereof at Free
port, H., northward to its depot for the viii
lage 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 therefrom and DESTROY
ed all interest coupons thereon which shall
have become duel 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 as 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 further liability what
soever on account ofits acceptance of this prop
osition.
SIXTH. In case said trustee refuses to act re-
moves from the state, resigns or becomes other
wise incapacitated, the town board of said town
and said railroad company may agree upon an
tpfh n a n Cfp nd In s1f
their failure so to agree, such other trustee may
| be appointed by the Judge of IL 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 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-
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 at such
point or points upon its line of railroad as will
| best accommodate the people
In TESTIMONY WHEREOF the said railroad
company has caused this proposition
to be signed by its president and sec
rotary, and its corporate common
seal 10 be hereunt0 affixed, this 18th
day of December, A d, 1884.
| ~ THE CHICAGO, FREEPoRT ST. PAUL
SEAL. RAILROAD COMPANY.
~ BY W. o. WRIGHT President
Attest: N. H. 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
4 proposition may be accepted by said town, and
| carried into effect; and as in duty bound your
! petitioners win ever pray.