Windham County reformer. (Brattleboro, Vt.) 1901-1906, 1906-10-19
BRATTLEBORO TRUST co.
TEXT OF BILL EMPOWERING NEW
BANKING CORPORATION.
Introduced in Legislature Last Week
by Representative Gibson-Will have
Power to Accept All Kinds Of Trusts
and do General Banking Business.


and do General Banking Business,
The following is the full text Of the
proposed charter Of the new Brattlo'
I boro Trust company, introduced in the
/ legislature last week by T.. W. Gibson,
representative from Brattleboro.
/ II is hereby enacted by the general assem-
/ bly, II the state Of Vermont
/ Charles A. Boyden, James l., Martin oscar
/ NJ. I.awton, Michael J, 'Moran, George \,
/ Eeis. Julius l.. siorkwell, Arthur u. Clapp'
~ Brattleboro; James \, Mulgy Of Jamaica,
John y. Gale Of Guiiord, Emory 4, Melcndy
az Londonderry, George H. Gorham " Rock
nghnm. Lewis II, Higgins Of Newlane'
Grnrge s, Foster Of PutneS Gardner Howe
Of Ilinsdalc, y, H., and Gran =, Randall Of
Chesterfield. y. H., and other subscribers Tor
I stock their associates, successors ana a.,
/ signs be-, aud they are hereby incorporated
and made body corporate by the name oil
the Brattlcborp Trust company, and by that
name may sue and be- sued, have common
seal and the same alter at pleasure, may pur,
chase and hold real estate and personal
rstat, for their own use, and such real ana
I psrssual estate as may be received In the
! cnueclion If debts. and may sell and convey
the same and shall have and enjoy all priN''
laecs incident 10 corporations, aud said cor.
nar,tion shall be located IN the village Of
Brattleboro in the town If Bratileboro,
Soc .. The capital stock Of said corpora
ton shall be- 100000, with power 10 M
rreasc the same tn any amount not exceeding
5000. 600, which shall be divided into shares
Of 500 each. a.,
See o. Charles 4, boyden, James l., Mar
tin Oscar NJ Llwtuu, Michael y, Moran
. T,fF -fHF.W well Arthur
r Clam Of Brlttluhor0; James \, MhAf! Oh
J,mnira. John T.. Gale Of Guilford, Emory y.
N,lcpdy Of Londonderry, George II, Gorham
nj Rockingham, Lewis H. Higgins Of New
fnpe George s. Foster Of Putncy Gardner >
Howe Of llinsdalc, y, H., aud Oran T. Kan.
DAN Of Chesterfield y. H., or majority 'i
them. are appointed commissioners Tor re-
ceiyipr subscriptions for shares IN the e'Pl.
tai stock Of said corporation, and the! sha'i
omen hooks for that purpose at tht Nhl"te vi
Brattlcboro in the town Of Bratlleboro "i'h'h
two years after the passage OF inns nc"
i,o,iec NJ which oprning shall be published IN
,ewsn,per printpd In Windham county
tbree weeks successfully, the last Of which
shall moi be more than two weeks previous
>, tho day fixed by the commissioners, ana
e,id notice shall he signed by q majority OF
said commissioners The commissioners shaiI
he sworn to faithful performance OF the'i
duties and books shall continue open from ~
clock A. m. till / clock p m. each ia!
f,r the spaee of 10 days Sundays excepted
or until 1000 shares shall be subscribed iur
and the subscribers shall at the time oil sun
scribing deposit with the commissioners ~
on each share by them subscribed Tor me
rnissi,uars in case that more than th'
,hoIs amount of the capital stock is sub
scribed for. may allot and distribute the
same among such subscribers as they ma!
doom hest By deducting the excess from thos'
subscribinc the greatest number OF shares
, Tins making the subscription equal as lar al
may be without dividing shares, IN sueh man
ner ms they may deem most for the lntereS
NJ all concerned; and II there shall be an!
increase in the capital stock Of said corpora
tim as herein provided such increase shaIl p'
divided among the then stockholders pro ray"
If they will accept the same and IN case tii'
whole Of such increase is not then u's.r'uu'e'
tho surplus may be divided among the thei
s,octboid.rs Of said corporation, who will re
cave and nay for the same in proportion o
the amount Of stock held by them, or IN suei
! otb.r manner as the board of trustees shaI
determine. "a ,
See 4 Said commissioners shall upoi
, ,be whole amount Of stock being subscribed
far or AS soon after as they thlnk proper
T nm, exceeding go days, call meeting OF TN
, Stockholders Of said corporation AT sueh P,"V
, in the village Of Brattleboro as theE Sna'
think proper, by publishing a nopce the'ev
. signed by q majority of them III d WIZ!
! newspaper printed in Nindham county ~,
weeks successively previous to such meeting
: f,r the purpose Of electng directors OF sal!
, corn,ratiou. and said commissioners Sn''
, dsliver to said directors OF said corporatlo'
, whom elected, and within 10 days after 'he'
enter upun the duties of their once "S' ="
! ali the names of persons entitled 10 Sharts !,
said corporation, and the number OF Sh"''S =
p ,,bicb aach is entitled, and the sum by eac'
| donnsited with them, and also the moneys r.
ceiyed by them ON deposit ON Said sn"res
which list said directors shall cause 10 De Ie
I corded in the books Of said corporation an,
, ,baTe1non Issue certificates to such subscriber
for their stock. hall l., ON
$ ,i.t,1 =, one yote for directors for ever
p share of capital stock standing in his or ne
l name. hall rot com
,,anrn business until at least 80 per cent
the whole capital stock has been paiu I'M
v id cornoration. After the shares nave pee
Z listritutad and allotted each stockhoider Sh"I
n nav the whole amount remaining uue o
D shares SO held by him at such time or ',ln'
. as the board Of directors appoint OF "h''n "
e least 10 days notlce sh'H u' -,
: subscriber bv mail and publishing the sam
: ~ .nme newspaper published in Windhar
> countv. and the shares of each stockholae
emitting TO make such payment shall DE lol
/, feited together with all previous payment
a made thereon: provided that the wnol
n amount of such capital stock shall De pa'u
q within 10 years from the date OF the oIs"i
r cation of the corporation ,.,
Soc : All the business of said corpora
,ion shall be managed by not less 'hah NV
NOR more than Is directors, malorit! Oh "no'
shall constitute quorum Tor the tr""s''''?
81 1,siress who shall be stockholders in sal
- corporation, each to the amount Vi DO,
Z sl0OO and at least three-fourths OF Wnoi
Y gb,,l be inhabitants of this state, ana sha
n LoId tbeir office until the third Monday
f January after their election, and unul tnei
o successors are elected and qualified ana sha
;, he elected annually after TINS hrst eieet,oh
=, such time and place as majority OF ''e "
% ractors for the time being direct pun
o rnticn thereof shall be given by pubhcauo
of tbe same in paper printed IN the ooun'
l. of Wndham for the space OF TWO "ceN' r.
f vious TO such election, and such eiectioh '''"
o be made by ballot by the Stockholueia
n said corporation who are present or D! PiON!
" - tbo several nersons who receive the grea
u t ,,r,bar Of votes at such election shall U
diractors. and if any two or more persons ~
a ceve an equal number of votes SO that i. mo- :,
G tbon the required number of persons shail !.
l. a plurality of votes appear TO pe eleo'eu' W
e stockholders shall proceed to ballot secGn
q time and by plurality of votes determin
7 which of said persons so having an cyl;
a" number of votes shall be directors; anu ,,
ease any vacancy occurs the vacancy snan
a filed from among the stockholders os ~
is ioritv of the remaining directors. AFTER NV
re SaIao,;on the directors shall elect from the
! nnmber a president and vicepresident an
i snch other officers as they shall deem nec :,
:. sarv Said directors shall be liable to u
r aaS;tors and stockholders of said corporate