Clarksville weekly chronicle. (Clarksville, Tenn.) 1873-1890, 1886-03-06
THE CONTRACT
Under Which sundy Citizens Of clarksyIIIe
Subscribed for |. A. g. T. Bonds.

tween the !. A. & r. railroad company
and the bond subscribers:
The undersigned, each for himself,
or themselves, agreed to take Mt par
value the amount OF the first Mortgage
Bonds OF the Indiana, Alabama d Texas
Rail Road Company, set opposite our
names respectively and to pay for same
in installments and upon the conditions
provided in the proposition made by
that company through its president,
acres OF iron and coal lands situated in
the States OF Alabama, Tennessee and
Kentucky.
The subscribers for said bonds shall
designate trustee, to whom they shah
piy their subscriptions for bonds, who
shall only pay over the proceeds of sale
of bonds to this company's engineers
Tor work actually done and completed,
according to the following schedule:
]. Twenty per cent, of amount OF
subscription in his hands on en-
gineers estimates as the work pro-
crosses, on the first section OF ten
miles north OF GAINESVILLE.
Q. Twenty per cent. further OF the
amount Of such subscription upon
completion Of the grading OF the
first section Of ten miles.
3. Ten per cent OF the amount Of
such subscription when the rails
are actually laid upon the first ten
miles.
i. Ten per cent, upon completion OF
the grading of the second section
of ten miles.
5. Ten per cent. when the rails are
laid upon the second section OF ten
miles.
6. Ten per cent. when the grading is
completed upon the third section
OF ten miles.
z. Ten per cent when the rails are
laid upon the third section OF ten
miles.
s. Five per cent when the grading is
completed upon the fourth section
OF ten miles.
.. Five per cent.-being the re-
mander Of SAID subscriptions
when the grading is completed on
the fifth section OF ten miles.
1t is also proposed and agreed thai
there shall be issued to each subscriber
to said bonds fifty per cent. of stock, in
said railroad company, on all paid up
subscriptions to said bonds.
The capital stock of said company
shall not exceed the amount OF the
proposed issue OF bonds of ten thousand
dollars per mile
The subscribers to bonds shall pr,
into the hands of the trustee, as soon
as the work on the first ten miles i,
actually begun, twenty per cent. OF ths
amount OF subscriptions; and shall pa,
the remainder in such installments a,
may be called by the trustee to enable
him to meet the payments as above
provided for.
The amount of bonds to be issue,
under the mortgage above provided for
shall not exceed ten thousand dollars
per mile, for each mile of the one hun.
dred lying between the points above
described.
Fourth-The said company bind,
itself to begin the work of building tn
division north of GAINESVILLE withi
fifteen days after the above amount o
bona fide subscriptions to their bond,
have been made, and to carry on the
work with all diligence until fifty mile.
Of narrow gauge railroad is completed
and equipped, beginning at Clarksville
f. C. GORDON,
President !. A. & I. r. r.. Company.
GAINESVILLE, Tenn, March 49, 1883,
The bonds here subscribed for are tC
be part OF an issue not to exceed tel
thousand dollars per mile for the diyis
ION Of one hundred miles between the
North Western railroad crossing il
Dickson county, Tennessee, and ,
point one hundred miles from said n
w. r. II, and between the Chesapeake
& Ohio railroad and the Ohio river il
the State of Kentucky as set out in tn
proposition above. But it is agreed
that not more than ten thousand dollar
of said bonds shall be issued for eacl
mile Of said road to be built north o
GAINESVILLE, and no other bonds shall
be issued and sold under said mort
gage until the work shall have begun
on the part of the road south OF Chrks
vile, the said company obllgating itsel
to use the money arising from the sail
to the building Of said road.
So soon as the amount OF bonds sub
scribed hereunder shall reach the sun
of 5000, 900, on such like sum as may b.