The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1899-05-17
saturday, the 10th Day of June, A. D.,
1893.

tflct snail De taken at specla election
which shall be held ON
Saturday, the 10th Day Of June, A. d.,
1899,
at the several places of voting now es-
tablished in said District, upon the
question of subscribing and appropria-
ting by and on behalf of said Morgan
District, the sum Of S45, 200 to the pre-
ferred B per cent. per annum dividend
bearing capital stock OF the said Morgan
town and Kingwood Railroad Company,
upon condition that not mere than sixty
thousand dollars OF such preferred stock
shall be at any time issued. The vote
aforesaid shall be taken In manner and
form and the result ascertained and GER
titled and returned as prescribed by Sec
ton "a Of Chapter 80 of the Code Of
West Virginia, and notice shah be pub
| lished of said election as required by
said Section, and by publishing the same
for four suct essive weeks IN the Morgan
town Post and the New DOMINION, weekly
newspapers published in this county.
The ballots used at said election and in
taking said poll shall have written OF
printed thereon the words For Sub
scription," or Against Subscription,
or any other words which will show how
the voter intended to vote upon the
question OF appropriation and subscrip-
ton aforesaid. Said appropriation and
subscription when made shall be subject
to all the terms, limitations and condi-
tions imposed by Law. and to the further
terms, limitations and conditions, which
4 are herein imposed and made part of
said appropriation and subscription.
II three-fifths (3-5) or more of the
voters Of said district who shall vote
upon the question of such proposed APP
preparation and subscription are in favor
Of same, the said sum of $45, 200 shall
be subscribed to the capital stock OF said
Railroad Company in the name OF said
| Morgan District by an agent or agents
who shall be appointed by this court.
Such subscription shall be payable In
the coupon bonds OF said District bear
ing interest at the rate of five (5) per cen.
tum per annum, payable semi-annually,
| which said bonds shall be received by
| said corporation at par in exchange for
| and in payment OF an equal amount of
the s per cent preferred dividend bear
ing stock of said Corporation Said
bonds shall be issued and signed by the
President and Clerk OF the County
Court aforesaid under the seal of said
court, and shall be delivered to the said
Railroad Company or its agent as fol-
lows, viz Upon the completion OF
sections OF two miles each
of said proposed railroad in Nor
san district ready for the rolling stock
and in actual operation, beginning at a
connection with the Fairmont, Morgan
tawn 4 Pittsburgh Railroad, or with
the Monongahela River in Morgantown,
there shall be delivered to The said Nor.
gantown and Kingwood Railroad Com
pany the sum OF $4 800 in said bonds at
their par value until said railroad shall
have been completed through said dis
trict, at which time the remainder of
said $4,000 of bonds shall be de-
livered. At the same time that the
said bonds are delivered to the said
Company an equal amount at par value
of the per cent. per annum preferred
dividend bearing stock certificates of
said company shall be delivered by said
Company to the Clerk OF this Court for
said district The total issue of PREFER
ed 5per cent dividend stock aforesaid to
be issued by said Railroad Company
shall never exceed 100000 par value
and shall be preferred and entitled to
receive in each year out of the net earn
ings of such year dividend of per
cent. upon the par value thereof which
shall be declared and paid before any
dividends shall be declared or
paid in such year upon any
other stock of said Railroad Com
panv. The coupon bonds afore-
said, shall be issued in denomina-
tons of $500 each, and shall be number
ed consecutively from No. to No. 90
inclusive, with forty semi annual
coupons of the denomination Of $125
each attached to each bond and bear
ing the number of the bond and the fac
smile OF the signature of the Clerk OF
said Court and payable on the LIST
day OF January and Of July in each
year. Said bonds shall be redeema-
BILE and payable on and after the
3lst of December, 1904, and on or before
the 3lst day of December, 1919, at the
option of the said county court. A d.
rect annual tax is hereby expressly pro-
vided which shall. be annually ascer-
tanned, levied and assessed by said
court, and collected according to law, on
the taxable property of said District,
sufficient to paw the annual interest on
the said bonds from the lst day OF Jan y
1900, to the 3lst day of December, 1904,
and sufficient after that date to pay an
nually the interest and such part Of the
principal of said bonds, so that
the bonds and interest may be
fully paid off and extinguished
ON or before the 3lst day of December,
1919, by annual leyies and payment OF
interest and principal as nearly equal in
amount as practicable in each OF said
years from 1905 to 1919 both inclusive.
The bonds to be redeemed and paid in
each year shall be ascertained by the said
court impartially by lot; and publica-
ton of the numbers of the bonds
so to be redeemed and paid shall
be made by said court IN some newspa-
per published in said county, for four
successive weeks, prior to such
redemption after which all inter-
est on said bonds SO published shall
cease. The interest and principal Of
the bonds aforesaid, when due. shall be
paid by the Sheriff OF said County, upon
presentation. out of the levies and as
sessments herein provided. The amount
of the subscription aforesaid shall be
expended in the construction of said
Railroad within the said District and
not else where.