The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1902-11-05
THE VEMONT INDUSTRIAL ASSO.
CITATION.

urday:
1t is hereby enacted by the General
Assembly of the State of Vermont.
Section 1. Henry @. Sherman. of
Boston, Mass Joseph A. Bowman, of
Minneapolis, MINI. Charles H. Max
w. Decker, of Buffalo, N. Y. Arthur
Ropes, of Montpelier, Vermont Benja-
min +. Bowman of Royalton, Vermont,
their associates and successors, are
hereby made corporation by the
name of the vermont Industrial Asso-
citation, " for the purpose of establish
ing medium, through which, to Sc
cure the settlement of people within
the State, and to advance the indus
trial interests of Vermont; to buy,
hold, and sell and convey real estate (;
to manage industrial farm, or farms,
for the propagating of blooded stock !;
to import and sell such stock, and sell
the products thereof; and by that name
may sue and be sued; may have a com
mon seal, and alter the same at pleas
ure and may have all the duties,
rights and privileges, and be subject
to all the duties and liabilities set
forth in the general law relating to
corporations.
Sec. 2. Said corporation shall have a
capital stock of fifty thousand $3.50, 000)
dollars, divided into shares of one
hundred ($100) dollars each, and may
provide for the sale and transfer of
the same; all stock shall be full paid
stock and not liable to further call.
Sec. 3. The first meeting of said cor
poration shall be held at such time
and place as shall be agreed upon by
the persons, or majority of the per-
sons named in the first section of this
act and at such meeting, and any
subsequent meeting of the stockholders,
said corporation may make, amend,
alter or repeal such bylaws and regu-
lations for the admission of associates,
and for conducting its affairs as a ma
jority of its stockholders may direct,
not repugnant to the laws of the State.
Sec. A. The officers of said corpor-
alton shall consist of president sec
rotary and treasurer, and such other
officers as the bylaws direct.
Sec. 3. One-fourth of the capital
stock shall be subscribed for and paid
in before the corporation contracts
debts and no part of it shall be with
drawn or diverted from the proper
business of the corporations but such
capital stock may be issued in pay
ment for any property deemed necessary
for the business of the corporation,
and the stock so issued shall be full
paid stock and not liable to further
call no debts shall be contracted by
the corporation exceeding in amount
three fourths of the capital stock act
ually paid in; and director assent
ing to the creation of an indebted
ness exceeding such amount, shall be
personally liable for the excess.
"a
from its passage.
The genesis of this bill is best shown
by the accompanying letter from Capt.
B. f. Bowman, veteran of the
Eighth Vermont, for some sixteen
years prior to 1900 engaged, in con-
nection with western railways, in
immigration enterprises in the West:
Ipswich. So. OAK, Nov. IA. 1900.
Mr.. Henry @. Sherman, w. U. Tel.
Co., No 100 State Street, Boston,
Mass. Dear Sir and COmrade While
l was east looking after the interests
of the Grand Army business for Chi
cago, | was at the same time looking
the ground over. consulting with and
getting the sentiment of the leading
men of my native State in regard to
the practicability of a movement for
settling people of means, and also
settlers ON farms and find the opinion
unanimous, that a movement of this
kind will receive hearty support
throughout the State.
Should some road or roads take that
feature up in some practical form,
along about the same lines of those
adopted by the Western roads, it
would be generally endorsed by the
people of the State, add materially to
its revenue and that of the roads, in
proportion to the Western roads.
have had considerable experience
for the last few years along the line OF
immigration, more particularly terri
tory tributary to the Chicago, Mil
waukee and st. Paul railroad in South
Dakota, with good success, and l am
confident that this feature will work
in Vermont, along the line indicated;
and / will say right here, that this
idea is not new one with me from
the fact that | have watched this
opportunity for the last sixteen years
and predicted that the time was not
far distant when this could be success
fully done. The time is ripe for such
a movement, and | had decided some
years ago that sooner or later | would
make the proposition to the roads in
interest, for their consideration.
You being so closely allied with
these interests, l write you ON this
subject, and enclose herewith, copies
of some letters which speak for them
selves, bearing on this matter. Many
more influential men will lend their
testimony as to the correctness of the
statements and aid the movement.
Before leaving Vermont, and since
my return here, have been urged by
the best men in the State of Vermont
to exhaust every resource at my COM
mand to bring this matter about, in
connection with some of the roads.
If any reference is required as to my
ability to handle movement of this
nature, / will refer to Mr.. George H.
Heafford, late general passenger and
ticket agent of the Chicago, Mil
waukee and st. Paul railroad, Chi
cago, ILL.,, as he is personally fami-
liar with what | have done along that
line for the last sixteen years.
Kindly submit this to some road
which you think likely to be most in