Bennington semi-weekly banner. (Bennington, Vt.) 1894-1902, 1894-11-02
The Electric Railroad,

road Company, as the same is now be-
fore the Railroad Committee of the House
This is the proposed charter, as agreed
upon by the representatives of the cor
poratOrs, the railway, and the town and
village of Bennington, and is carefully
drawn so as to protect the interests of all
parties concerned. We are told by those
who have been at the Capital, that this
charter is a subject of remark, in that it
more specifically defines the rights of the
COrporators and the public, than any
other charter for that purpose ever grant
ed by Vermont Legislature. 1t seems
to us that the public interests have been
conserved in this document and we see no
reason why its passage should be OPP
posed:
AN ACT TO INCORPORATE THE BENNING-
TON ELECTRIC RAILROAD COMPANY.
1t is hereby enacted by the General
Assembly of the State of Vermont:
Section l. A. B. Valentine, l.. F. Alb
bot, II. S. Bingham, +. w. Bradford, l.
E. Gibson, E. L. Sibley, N. M. Puffer,
Joseph A. Powers, e, E. Larrabee and
their associates, successors and assigns,
are hereby constituted corporation by
the name of Bennington Electric Rail
road Company, with power to construct,
use and operate railroad with electric
ity or other power, excepting steam, in
the towns of Bennington, Pownal,
SALISBURY and Woodford, in the village
of North Bennington, and in and along
the following named streets in the viii
lage of Bennington, viz: Main, West
Main, North, South, Depot, River, Wash
lngton, Elm, Mill, Dewey avenue, Harri-
son avenue, Gage, Stafford and Bradford.
Said corporation shall have the right to
change the route so designated or extend
it's lines upon other streets in said vii
lage of bennington with the consent of
majority of the trustees of said village;
and may construct said railway with a
single track, with switches, branches
and turnouts; and by that name may sue
and be sued; have perpetual succession;
may have common seal and the same
alter at pleasure; may acquire and hold
by gift or purchase any real or personal
property, and shall enjoy all the rights
and privileges of a corporation.
Section 2. The capital stock of said
company shall be one hundred thousand
dollars, which may be increased by said
company, with the consent of stockhold-
ers owning at least two-thirds of the cap
ital stock issued, to sum sufficient to
COlh JlOlO anu ONulp OpCldOO OuIh
railroad, as said company require, not
exceeding two hundred and fifty thou
sand dollars in the whole, which shall
be deemed to be personal property and
be divided into shares of one hundred
dollars each; said capital stock shall be
full paid, and non assessable when said
company's directors shall receive in pay
ment thereof its par value in cash or
property of equal yalue.
Section 3. Said company shall not
commence the construction of said rail
road until twenty-five thousand dollars
of its capital stock shall be subscribed,
and at least twenty-five per cent. of the
same shall be paid in; and may continue
to construct the same from time to time
as the business of the same may require.
Section 4. The persons named in the
first section of this act shall be commits
sioners to receive subscriptions to the
capital stock of said company, and may
themselves subscribe; and when twenty
five thousand dollars shall be subscribed
they shall cal! a public meeting of such
subscribers to be held in the village of
Bennington, by giving personal notice to
the same, or by publication of notice
of such meeting in each of the newspa-
pers published in Bennington, at least
twenty days before such meeting, which
meeting shall be for the organization of
said company, and the election of Off
GERS, to consist of five directors, who
shall transact all the business of this
company, and shall hold their Office for
one year and until others are elected in
their stead.
Section 5. When such election shall
be held, such directors shall elect one of
their number president of said company.
and they shall appoint clerk and treas
urer, and may appoint such other Off
GERS and agents as may be required for
the transaction of the business of the
company; and may make such bylaws
for the regulation and government of the
same as they deem best. not inconsistent
with the laws of this State; and after
said company shall be organized, all
further subscriptions to the capital stock
shall be under the control of the Board
of Directors of said company, subject to
the approval of the stockholders, as pro-
vided in Section 2.
Section 6. For the purpose of con-
structing and maintaining said road,
said company may enter upon, and Oc-
cupy so much of the streets aforesaid,
and the highways and bridges in said
towns and villages, except the "Meach
Hole' bridge so-called, near the village
of Bennington, as shall be necessary;
provided that the said company shall
keep the portion of the highway be-
tween its tracks and for a distance of
one foot on each side thereof, in as good
condition for travel as is the adjacent
highway, and shall so grade the surface
of the streets and cross walks within and
adjacent to its tracks, that persons and
vehicles can conveniently cross or turn
off from the same, and shall not inter-
fere with the proper and free access to
the culverts, sewers, water and gas pipes
of said villages and towns; the location
of SAID tracks, and the form and mode of
construction of said road and the neces-
sity of rebuilding, widening or strength
ening any bridge, shall be determined by
said board of directors; provided, how
ever, that the board of directors shall
submit general plan relating to the
foregoing, to the seectmen of the towns
aforesaid, and the trustees of said viii
lagos; and if said selectmen or trustees
object to any part thereof, and said di-
rectOrs and town and village officials can
not agree, then either party may apply
bylpetition upon written notice to the
other, to the Railroad Commissioners,
and upon such petition being filed and
reasonable notice given to the other
party, it shall be the duty of such Rail
road Commissioners to proceed to hear
them, and shall adjudge and determine