Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1906-10-19
CHARTER OF BRATTLEBORO TRUST co.
Full Text Of the Bill introduced into the Legislature by Repesen
atve Capital Stock Be 100000 with Privilege of
Increasing to 100000
Increasing to $500, 900

It is hereby enacted by the General ]
Assembly Of the state Of Vermont:
Section l. Charles A. Boyden James L. I
Martin, Oscar M. Lawton. Michael ]. {
Moran, George A. Eels, Julius L. Stock
well, Arthur B. Clapp, of Brattleboro;
James a. Muzzy of Jamaica, John e.
Gale Of Guilford, Emory A. Melendy Of
Londonderry George II. Gorham of Rock
ingham, Lewis II. Higgins of Newfane,
George S. Foster of Putney. Gardner
Howe OF Hinsdale, New Hampshire, and
Oran E. Randall OF Chesterfield, New
Hampshire, and other subscribers for
stock, their associates, successors and as
signs be, and are hereby Incorporated and
made a body corporate by the name of the
Brattleboro Trust Company and by that
name may sue and be sued. have a COM
mon seal and the same alter at pleasure,
may purchase and hold real estate and
personal estate for their own use, and
such real and personal estate as may be
received in the collection of debts and
may sell and convey the same, and shall
have and enjoy all privileges incident TO
corporations, and said corporation shall
be located in the village of Brattleboro in
the town Of Brattleboro.
Sec. 2. The capital stock of said cor
poration shall be 100000 with power to
increase the same to any amount not ex-
ceeding $780, 900 which shall be divided
into shares of 800 each.
Sec. 3. Charles A. Boyden, James L.
Martin, Oscar M. Lawton Michael ].
Moran, George A. Eels, Julius l.. Stock
well, Arthur b. Clapp Of Brattleboro;
James A. Muzzy Of Jamaica, John q. Gale |
of Guilford, Emory A. Melendy Of London |
derry George H. Gorham of Rockingham. |
Lewis II. Higgins of Newfane, George S. |
Foster of Putney, Gardner S. Howe of |
Hinsdale, N. H, and Oran E. Randall OF |
Chesterfield N. H, or a majority of them, |
are appointed commissioners for receiving |
subscriptions for shares in the capital
CT clr ~ M rbay ehoM
open books for that purpose at the viii
lage of Brattleboro in the town of Brat
uleboro within two years after the passage
of this act, notice of which opening shall
be published in newspaper printed in
Windham county three weeks SUCCESSFULLY
the last of which shall not be more than
two weeks previous the day fixed by
the commissioners, and said notice shall
be signed by a majority of said commits
soners. The said commissioners shall be
sworn to a faithful performance of their
duties and such books shall continue open
from 10 o'clock a. m. till o'clock p. m.
each day for the space OF 10 days, Sun
days excepted or until 1000 shares shall
be subscribed for, and the subscribers
shall at the time of subscribing deposit
with the commissioners SO on each share
by them subscribed for. The commits
sioners, in case that more than the whole
amount of the capital stock is subscribed
for may allot and distribute the same
deem best by, deducting the excess from
those subscribing the greatest number Of
shares, thus making the subscription
equal as far as may be without dividing
shares in such manner as they may deem
most for the interest of all concerned;
ana II there shall be any increase in the
capital stock of said corporation as herein
provided such increase shall be divided
among the then stockholders pro rata, II
they will accept the same, and in case the
whole of such increase is not then dis
tributed the surplus may be divided
among the then stockholders of said cor
poration. who will receive and pay for the
same in proportion to the amount of stock
held by them, or in such other manner as
the board of trustees shall determine
Sec. T. Said commissioners shall, upon
the whole amount of stock being sub
scribed for, or soon after as they think
proper, not exceeding go days, call a
meeting Of the stockholders of said cor
poraIion at such place in the village of
Brattleboro as they shall think proper, by
publishing a notice thereof signed by a
majority of them, in a weekly newspaper
printed in Windham county three weeks
successfully previous to such meeting, for
The purpose Of electing directors of said
corporation, and said commissioners shall
deliver to said directors Of said corpora
ton when elected, and whiting ten days
after they enter upon the duties OF
their office, a list of all the names Of per-
sons entitled to shares in said corporation,
and the number OF shares to which each
is entitled, and the sum by each deposited
with them. and also the moneys received
by them on deposit on said shares; which
list said directors shall cause to be re-
corded in the books of said corporation
and thereupon issue certificates to such
subscribers for their stock.
Sec 5. Every stockholder shall be en-
titled to one vote for directors for every
share OF capital stock standing in his oil
her name.
Sec. 6. The corporation shall not COM
gmence business until at least so per cent
Of the whole capital stock has been paid
into said corporation. After the shares
have been distributed and allotted each
stockholder shall pay the whole amount
remaining due on shares so held by him
at such time or times as the board OF di
rectors appoint, of which at least ter
days notice shall be given to each sub
scriber by mail and publishing the sam'
in some newspaper published in Windhan
county and the shares OF each stockholde
emitting to make such payment shall b.
forfeited, together with all previous pay
ments made thereon; provided that Tn,
whole amount Of such capital stock shal
be paid in within ten years from the dat
of the Organization OF the corporation.
Sec T. All the business of said corpora
ton shall be managed by not less thai
five nor more than is directors, ma
ioritv of whom shall constitute quorum
FOR the transaction OF business, who shal
be stockholders in said corporation, eac
to the amount of at least $1,000, and a
least three fourths OF whom shall be in
habitants of this state, and shall hol
their office until the third Monday in Jan
nary after their election, and until thei
successors are elected and qualified. an
shall be elected annually after this mrs
election at such time and place as Q. ma
iority OF the directors for the time bein
direct public notice thereof shall be give
bv publication OF the same in a pape
printed in the county OF Windham 70
the space OF two weeks next previous
such election, and such election shall b
made by ballot by the stockholders
said corporation who are present In perso
or by proxy. and the several persons wn
receive the greatest number OF votes
such election, shall be directors; ana
any two or more persons receive an equ'
number of votes so that more than IN
required number Of persons shall py u
plurality OF votes appear to be electe'
the stockholders shall proceed 10 pallot
second time, and by plurality OF vote
determine which OF said persons SO naVin
an equal number OF votes shall De
rectors; and in case any vacancy Occur
the vacancy shall be filled from amor
lae stockholders by a majority OF the II
naming directors. After their elecue
the directors shall elect from their nun
her n nr,asident and vice president al