Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1912-07-31

Lancaster, Grant County, Wisconsin:
Notice is hereby given that special cleo
ton will be held for said town, on the
9TH DAY OF AUGUST, 1912,
for the purpose of submitting to the legal
electors Of said town the question whether
the said town shall accept the proposition of
The Chicago Short Line Railway Company,
a Wisconsin corporation, copy of which
proposition is as follows to-wit
PROPOSITION
TO the Town of South Lancaster. Grant
THE CHICAGO SHORT LINE RAILWAY COM
PANY, a corporation duly incorporated I'M
der the laws of the State of Wisconsin, tor
the purpose of constructing. maintaining
and operating a standard, ordinary gauge
electric railway, with overhead transmits
sion lines for its power, with its central
power plant to be located in the city of Lam
caster in said Grant County, Wisconsin, for
the public use in the transportation of per
Grant and Lafayette in the state Of Wis
cOnsin. and within the state of Illinois, over
the following route, tO-wit
From and to the City of Lancaster, Grant
County, Wisconsin, extending through the
townships of South Lancaster, Beetown.
Glen HaYen. Bloomington, Patch Grove, Mt.
Hope Mt. Ida. FennimOre, Liberty, North
Lancaster, EllenborO and Lima and touch
ing the city of Lancaster, the villages of
North'Andover, Bloomington, Patch Grove,
Mount Hope, Mount Ida FennimOre and
Sitter in said county. or as near thereto as
may be practicable, said line passing
through the township of Platteville and the
city of Platteville in Grant County, traver-
sing the county of Lafayette through the
townships of Elk Grove, seymour. Darling
ton. ShullSburg Monticello. New DigglnS
and Benton, reaching the cities or Darling
ton and Shullsburg and the village of Ben
ton by proper extensions or branch lines,
thence in a southeasterly direction through
the state of Illinois to the city of Chicago,
the terminus of said railway,
desiring aid, and being DESTROYS that said
town of South Lancaster make Subscrip-
ton to its capital stock, pursuant to the
statutes in such case made and provided, to
be paid in municipal bonds to be issued by
said town of South Lancaster. hereby makes
the following proposition to said town Of
South Lancaster, pursuant to section 945 OF
the Wisconsin Statutes of 1898 and the sew
eral acts amendatOry thereof and supple
mentary thereto:
First: That said town of South Lancaster
subscribe fOrtwo hundred twenty i22Ol shares
of the capital stock OF said railWaycompany
of the par value of Twenty-Five Thousand
[22 0O0l Dollars in the manner and at the
time provided by statute under this agree
ment, such subscription to be payable in
seventeen LII Understanding coupon
bonds, five 81 of such bonds to be of the
denomination and face value of Two Thous-
and [2000l Dollars. and the remaining twelve
l12l bonds to be each OF the denomlna-
ton and face value of Ore Thousand llOOOl
Dollars making in all the amount of Twenty
two Thousand [22000] Dollars al par value,
numbered consecutively from one III to
seventeen IN both inclusive, not payable
maturity
to be issued by said town of South Lancas-
ter, made payable to the said railway COM
rany or bearer, and to mature as follows:
Number one CD for $1,000 to be payable on
June st, 1916
Number two ~ for 1000 to be payable on
June 1st, 1917.
Number three 81 tor $1,000 to be payable
on June list, 1918.
Number four az for $1,000 to be payable on
June 1St 1919.
Mum Der five 90 TOR SlOU0 70 De payable on
June 1SC. 1920.
Number Six (6) for $1,000 to be payable on
June 1st. 1921.
Number seven 90 for SlOO0 TO be payable
Number eight (8) for $1,000 to be payable on
June 1St, 1928.
Number nine (9) Tor 0IOUO 10 De payable on
June 1St 1924.
Number ten dO) for $1,000 to be payable on
June 1st, 1925.
Number eleven CID Tor SlO0O TO be p2Ya.lG
on June 1St 1926.
Number twelve u2) for $1,000 to be payable
on June 1St 1927.
Number thirteen Q3) for $4,000 to be pay
able on June lst, 1928.
Number fourteen Q4) for $4,000 to be pay
able on June 1St 1929
Number fifteen Q5) for $1,000 to be payable
on June 1St 1890
Number sixteen t16) for $4,000 10 be payable
on June LIST, 1881
Number seventeen % Tor S2OU0 TO be pay
able on June 1St, 1882.
Each of said bonds to draw interest at the
rate of four and One-half AL per Centum
per annum, payable annually on the first
day of June in each and every year from
date OF issue until fully paid. All install
mentS of interest on said bonds to be evil
denCed by proper interest coupons, to be eX-
eCuted by the proper officers OF said town
of South Lancaster and made payable TO
said railway company or bearer. ana at
LaChed to each OF said bonds respectively.
All interest not paid when due to draw IN
terest at the same rate as the principal sum
until paid. Both the principal and interest
of said bonds shall be payable at the F1rSt
National Bank, chicago, limos, IN cdsu;
All interest earned or accrued upon sara
bonds up TO the date Wnen Sald railway
company shall become entitled to an ab-
Solute delivery of said bonds, to-Wlt. under
the terms of this proposition, shall be cred
tied and endorsed on So interest coupons
at the time of delivery OF said bonds TO SAID
railway company; the said railway company
to be entitled to the interest only from the
time it becomes entitled to the bonds. All
said bonds shall be negotiable and their
issues shall in all respects comply Win
the statutes OF this state authorlZl2g Lnell.
All said bonds shall be issued within thirty
(30 days after the acceptance OF this propo-
/ sition by said town Of South Lancaster. Al
such time as said railway company Snall
have earned said bonds and become entitled
to an absolute delivery thereof, ana upon
their delivery to said railway COMPANY, the
said town OF South Lancaster Snall laWIuIIy
pass an ordinance or resolution QlTeCClng
| that there shall be annually levied tax up
on the taxable property Of said town. Ia ad-
ditiOn to all other taxes, SufhC1ent TO pay,
when due, the interest to grow due on SAID
bonds, and also to pay and discharge the
principal thereof as and by the time the
same shall become due.
SecOnd: The purpose of said railway COM
panY is to construct, maintain ana operate
an electric railway of standard, ordinary
gauge. for the public use for the conveyance
of persons and property with overhead
transmission lines for its power and with
! its central power plant located in the city
/ of Lancaster Grant County, Wisconsin,
such construction, maintenance and oper-
alton to be in several sections which shall
Ultimately connect and cover the route
aforesaid. One of such sections shall COM
mence aC the city of Lancaster and extend
thence in an eaSterly direction to the east
line of the township of EllenbOro in said
| Grant County Wisconsin, said line being
the north and south line dividing the town
| ships of EllenL orc and Lima in said county
| Said railway company shall have the said
| section completed and in operation by the
| passage of cars thereOver continuously
! from said city OF Lancaster to said north
and south line dividing the townships of