The Barre daily times. (Barre, Vt.) 1897-1959, 1916-03-20
MAY ISSUE s2so,ooo STOCK.
Montpelier & Barre Light & Power Co. to
Retire That Amount Bonds.


Permission has been given by the Yer
mont public service commission to the
Montpelier 4 Barre Light a. Power com
pany to issue S2500O0 0 per cent pre-
ferred stock, the same to be exchanged
for like amount OF first refunding
mortgage per cent 30-yesr convertible
gold bonds. A certificate granting such
permission was issued by the commission
as the result of a hearing held ut Mont
pelier ON March 10.
The commission finds that under the
provisions OF the mortgage securing the
bonds the holders thereof are given the
option on and after March |, 1916, 70
convert the bonds into per cert pre-
ferred stock Mt par; that there are $780,
600 of such bonds; that the bonds were
legally issued and that 1t is necessary
for the company to issue the stock in
order to meet the mortgage obligation.
Therefore, the commission gives per-
mission for this sole purpose and it stip-
ulates that IF said corporation does so
issue any of said stock in exchange for
said bonds, it is hereby ordered to imme-
diately cancel and retire said bonds re-
ceived by it in exchange and on the lst
day of July, 1916, and every six months
thereafter until said stock is fully is
sued, to file with this commission writ
ten return, signed by the president and
treasurer and verified by their oaths,
setting forth its doings unders this Ger
tifcate and stating the amount of the
stock so issued, the number and face 1
value of the bonds received i'm exchange
therefor and that said bonds have been |
cancelled and retired
New Power Corporation Endorsed
The public service commission has also !
granted certificate setting forth that |
the establishment and maintenance of |
the Eastern Vermont Public Utilities
will promote the general
good of the state. The signers Of the
petition for such a certificate were +.
Monroe Dyer of New York City, w. G.
Clifford of Bethel, /. M. Frost Of Rut
and. Albert A. Daniell Of West Danyille
and T.. +. Clark of Groton. The capital
stock is 100000, divided into 1000
shares and the principal Office is at
dardwick.
Public Utilities corpC ration, as set forth
n the articles of association are as fol-
ows:
81. To acquire by purchase. lease or
otherwise, and hold land, riparian and
water rights and other real estate and /
in the towns of Barnet, Groton,
2yegate. Stannard, Walden, Peacham
nd Danville, in the county of Caledonia, /.
md in the town of Newbury, in the
ounty of Orange, and to acquire and j
old, develop and use water powers, and ]
o build, construct, maintain and operate {
ANS, storage basins, fumes, pipe lines, {
'ower plants, power stations, hydraulic s
works and all necessary equipment and I
pyaratus in said towns, for the purpose I
Z generating electrical energy for pow
r, heat, light and other similar pur e
oses. (
"2. To construct, operate and main ]
ain pole lines on land or easements {
cquired by purchase, lease or otherwise, 5
r on streets and highways and all nee t
ssary distributing stations for the pur c
ose of transmitting and distributing 5
lectrical energy for power, light, heat Q
nd other purposes in the towns of Dan t
lille, Peacham, Barnet, Ryegate, Groton, o
tannard and Walden in the county of e
Adubl anu w VOuBuIN III lut u
ounty of Washington; of Newbury, IL
opsham, Orange, Corinth, Washington,
helsea, Tunbridge and Randolph in the \
ounty of Orange; and of Bethel and =
ovation in the county of Windsor.
49, To generate. distribute and sell
eetricity for power, light, heat and
ther purposes in the sale of electricity, N
arsons residing in Vermont, municipal
or persons doing business in
ermont shall have preference, under
milar terms and conditions. The last
,regoing provision shall be considered
) contract between the corporation a.
nd the state of Vermont for the bene- III
Is of such inhabitants thereof as may
Z hereafter affected. ca
a. To issue bonds and notes and to y
ortgage any or all of its property for A
lie security of the same" NJ
Sidetrack at Windsor. g.
The commission has granted to the ca
sntral Vermont Railway company the D.
ght to build siding for the Windsor II
achine company at Windsor, the cross
z to be constructed under stipulations
I up by the commission. The siding
osses River street in that village at "
ade