The Brattleboro reformer. (Brattleboro, Vt.) 1907-1912, 1910-11-18

Sec. 4.-The capital stock OF said cor
poration shall be two million dollars, d.
yided into shares of one hundred dollars
each, and may be increased or diminished
from time to time as the purpose OF saIu
corporation may require, by majority
vote of its capital stock outstanding, Cap,
tai stock issued by said corporation ana
! paid for shall not be liable to assessment;
said capital stock may be purchased, held
and voted by any person or corporation
organized under the laws OF this or any
other state or country, and each share OF
stock shall entitle the holder to one vote
in person or by proxy at all meetings OF
the corporation. George G. Jones, 4. Z.
Smith and Albert Tuttle, or majority
thereof. shall be commissioners to receive
subscriptions to the capital stock OF SAID
corporation at such time and place as they
or such majority may select, ana may
themselves subscribe therefor. SAID com.
missioners may require such portion Vi
any subscription to be paid at the time
of making the same as IN their judgment
may seem advisable. The lncorporators
mentioned in section ] OF this act shali
have the first right to subscribe for sad
capital stock. ;, g .;a
Sec. 5.-The board of directors OF SAID
corporation shall consist OF not less than
seven nor more than IL persons, TO DE
elected by stockholders, and to hold their
office until their successors are duly elected
and qualified. All such directors shall be
stockholders of the corporation and a ma
ioritv thereof shall be citizens and resi-
dents of the state of Vermont.
See. 6-Said commissioners OF lnaJoi,
ity thereof shall as soon as one huhafeu
shares of the capital stock shall nave peeI
subscribed. upon three days notice 10 saiu
subscribers, call meeting thereon ior the
organization of said corporation; at the
t;,Se and Mace appointed for said meeting,
the incorporators shall be the inspectors
Of the election of directors. and shaii de-
clare and certify who are elected. mere
mon the incorporators shall call meet
inc of the directors at which,, a MAJORITY
be7ng nresent. the directors shall elect
nros;dent clerk and treasurer, and such
6tber officers and agents as they shall de
Sire and thereupon said corporation snai,
he deemed to be fully organized. Inc ooarH
of directors shall manage and controi an
the business, affairs and properly OF tlie
corporation, shall make bylaws ana snaii
have and exercise all the powers Oh sa'u
corporation. ,;uod all
srhscr;ntions to the capital stock and the
issuing thereof shall be under the controi
Of said board of directors.
Sec. THE corporation hereby ere
ated shall ,have the right to cross or con-
meet with anv railroad on its right-o1-Way,
and. if said parties cannot agree as TO tne
COMPENSATION therefor, or the manner es
thereof the same shall be determined as
provided by the general law.
Sec. S.-The directors may contract WIN
any person, company or corporation !or
the construction of said railroad, its
branches and appurtenances. and to sup,
NV eoll;pment therefor, and may issue and
deliver to any such person, company OF
CORPORATION, .all or any part OF Its entire
canital stock as full paid stock, and us
bonds secured by mortgage to sucn an
amount and in such form and manner as
they may deem proper, in payment lor si.e
construction and equipment OF sag ran
road The corporation may secure ene pay
m oan Of all said bonds by mortgage, or
mortgages NOR, upon all of its railroads, fran
chises and other property, including after
acquired property.
Sec 9-If said corporation shall not
within FIVE wears from the passage OF this
aot commence the construction OF its said
road, and shall not within ten years com
nlete the construction thereof, then tins
act shall be void, except as to such portion
If said road as may, at the time, be con
strncted ANY town, village or city IN the
counties of Windsor and Windham may
aid in the construction of said railroad by
Subscribing to the capital stock OF said
c cor or issuing bonds in aid OF said
corporation, or in such other manner as
said towns, villages or cities shall direct
Such aid shall be given subject to the pro,
visions of the general law, and as PROVIDED
therein.
i Sec 1O.-The corporation hereby. ere
ated shall enjoy all the powers, rights
privileges and franchises conferred upon
or vested in railroad companies or corpora