Mitchell, Charles H. Myers, Seth S. Logan, Edgar B. Van Winkle, Albert L. Hodge, Leverette W. Wessells, Holmes O. Morse, Asabel H. Morse, Dorsey Neville, Ephraim Mower, George M. Woodruff, and all other holders of the second mortgage bonds of the Shepaug Valley Railroad Company, and their successors and assigns, with such other persons as may be duly associated with them as stockholders, be and they hereby are constituted a body politic and corporate by the name of the Shepaug Railroad Company, by that name to have, hold, exercise and enjoy all the rights, powers, privileges, immunities and franchises heretofore granted to or conferred upon the Shepaug Valley Railroad Company by the legislature of this state, subject only to the laws of this state, the provisions of this charter, and to a first mortgage, now outstanding, executed by said Shepaug Valley Railroad Company.

SEC. 2. The capital stock of the company hereby created shall be seven hundred thousand dollars, and may be increased to any amount not exceeding fifteen hundred thousand dollars, and shall be divided into shares of one hundred dollars each.

SEC. 3. Four hundred thousand dollars of such capital stock may, in the discretion of the directors of said corporation, be reserved to meet the option granted to the holders of the first mortgage bords cf the Shepaug Valley Railroad Company to convert the same into stock, or so far as the same may not be taken by such first mortgage bond holders under such option, to be issued at the discretion of the directors, to raise money to pay such first mortgage bonds; the residue of said seven hundred ⚫thousand dollars of said capital stock shall be divided to and among the holders of the second mortgage bonds of the said Shepaug Valley Railroad Company, on their surrender of such bonds to the corporation hereby created, in the proportion of the bonds held by them respectively.

SEC. 4. On the distribution of stock last mentioned, there shall be credited to each such second mortgage bond holder, as an installment paid on the stock distributed to him, the amount of bonds held by him, and the interest accrued thereon, to the amount of five per cent., being in the whole two hundred and ten thousand dollars, or seventy per cent. of the par value of such stock; and whereas, to enable the said Shepaug Valley Railroad Company and the trustee for the holders of said second mortgage bonds to maintain and operate said railroad, the holders of said bonds have guaranteed the payment of certain sums of money by an endorsement of the acceptances of said company; now if the said bond holders, or any of them, shall be required to pay and shall pay any sums of money

upon, for, or by reason of such guaranty, such payments shall be credited as an installment upon the said stock so distributed to him or them.

SEC. 5. The directors of said company.may, from time to time, make such equal assessment on the shares thus dis tributed to second mortgage bond holders, as they may deem expedient and necessary for the purposes of the company, and may require the same to be paid to the treasurer in such manner and upon such notice as they may direct; and if a holder of any of such shares shall neglect to pay his assessment for the space of thirty days after such notice, the directors may order the treasurer, after giving notice of the time and place of sale by advertisement two weeks in a newspaper published in the town of Litchfield, to sell the share or shares of such holder at public auction to the highest bidder, whose bid shall be not less than the amount of unpaid assessments, and interest and the charges of sale, and on such sale the treasurer shall transfer such stock to the purchaser, on the books of the company. The proceeds of sale shall be applied to the payment of all unpaid assessments on such stock, with interest and charges of sale, and the residue, if any there be, shall be paid by the treasurer on demand thereof, to such delinquent stockholder, and his liability to pay such assessments or any future assessment on said stock shall thereupon cease. If on the offer of such stock for sale at auction as aforesaid, no sum shall be bid sufficient to pay such unpaid assessments, interest, and charges of sale, such stock shall be forfeited to the company, and shall be extinguished, and all the right of the former holder to such stock, or any dividends thereon shall cease: provided nevertheless, that assessments shall not be laid upon stock thus distributed to second mortgage bond holders, beyond the sum which, together with the installments herein before directed to be credited thereon, will amount to one hundred dollars per share.

SEC. 6. Any of the aforesaid reserved stock which may be issued to raise money, and any stock which may be issued in pursuance of the power above given to increase the capital stock, shall be subject to the general laws of the state relating to assessments upon shares of stock in railroad companies.

. SEC. 7. The holders of said second mortgage bonds to the amount of not less than one hundred thousand dollars, may call a meeting of the holders of said bonds, by a notice signed by them, and published in a newspaper published in Litchfield, at which meeting the bond holders present shall proceed to organize the company, and choose from the second mortgage bond

6 AMENDING CHARTER OF THE N. Y., N. H. & H. R. R. Co.

holders directors of the company hereby created, who, being chosen, shall proceed to carry the foregoing provisions of this act into effect. Each bond holder present at such meeting, either in person or by proxy, shall be entitled to one vote for each one hundred dollars of the principal of the bonds held by him, and when the said company shall have been so organized it may exercise all the powers herein granted or conferred upon railroad companies by the general laws of this state.

SEC. 8. When the interest of the Shepaug Valley Railroad Company in the property, rights, and franchises, mortgaged for the security of said second mortgage bonds, shall have been extinguished by foreclosure, and the said property, rights, and franchises shall have become vested in the holders of said bonds, the corporation organized under this resolution may take possession of said property and franchises, and enjoy and ex ercise all the rights, powers, privileges and immunities conferred upon such corporation by this act, and all the rights, powers, privileges and immunities heretofore granted to or conferred upon the said Shepaug Valley Railroad Company; and the trustee for said bond holders shall pay over and deliver to said corporation all moneys and property in his hands, of right belonging to said bond holders, and thereupon the duties and liabilities of said trustee shall cease.

SEC. 9. This act may be altered, amended or repealed, at the pleasure of the general assembly.

Approved, May 23d, 1873.

[Senate Joint Resolution No. 2.]

[3.]

AMENDING THE CHARTER OF THE NEW YORK, NEW HAVEN & HARTFORD RAILROAD COMPANY.

Resolved by this Assembly: SECTION 1. The New York, New Haven & Hartford Railroad Company are hereby authorized and empowered to purchase, hold and receive any and all such real estate in the state of New York, as may by their directors be deemed necessary and proper for the business of the corporation, and the same to sell, grant, aliene, and convey.

SEC. 2. This amendment shall become operative when the same shall have been accepted by the board of directors of said corporation.

Approved, May 28th, 1873.

[4.]

AMENDING THE CHARTER OF "THE WATERBURY GAS LIGHT COMPANY,

Resolved by this Assembly: That the Waterbury Gas Light Company be and are hereby authorized and empowered to increase their capital stock to any sum not exceeding two hundred thousand dollars, to be divided into shares of twenty-five dollars each.

Approved, May 29th, 1873.

[5.]

RELEASING JOHN CAVANAUGH FROM THE STATE PRISON.

Resolved by this Assembly: That John Cavanaugh be and hereby is released from further confinement in the Connecticut State Prison.

Approved, May 28th, 1873.

[House Bill No. 12.]
[6.]

AN ACT AMENDING "AN ACT TO PROVIDE THE CITY OF NEW LONDON WITH A SUPPLY OF PURE AND WHOLESOME WATER."

Be it enacted by the Senate and House of Representatives in General Assembly convened: SECTION 1. That the Mayor, Aldermen, Common Council and freemen of the city of New London be and are hereby authorized to issue bonds, notes, scrip, or certificates of debt, under the corporate name and seal of the city, bearing interest at no greater rate than seven per cent. per annum, to any amount not exceeding the sum of seventy-five thousand dollars, in addition to the sum of one hundred and seventy-five thousand dollars now authorized by the act to which this is an addition, for the uses and purposes, and upon the terms and conditions mentioned in said act.

SEC. 2. This act shall be, to all intents and purposes, a public act, and may be altered, amended, or repealed at the pleasure of the general assembly, and the same shall not go

into effect until it has been accepted by said city as a part of its charter, at a meeting warned and held for that purpose, by a major vote of those present and voting in said meeting. Approved, May 29th, 1873.

[House Bill No. 33.]
[7.]

AN ACT CONCERNING THE NEW YORK AND NEW ENGLAND RAILROAD COMPANY.

Resolved by this Assembly: SECTION 1. The proceedings of the holders of the bonds secured by mortgage, dated March 19, 1866, from the Boston, Hartford and Erie Railroad Company to Robert H. Burdell and others, whereby they have formed a corporation under the name of the New York and New England Railroad Company, are hereby ratified and confirmed; and the said New York and New England Railroad Company is hereby declared, made and confirmed a body corporate by that name, and vested with all the franchises, powers and privileges, and subject to all the restrictions, duties and liabilities set forth in the general laws which now are or hereafter may be in force, relating to railroad corporations.

SEC. 2. The capital stock of said company shall not exceed two hundred thousand shares, of one hundred dollars each, and the same may be issued to the holders of said bonds upon the surrender thereof to said corporation as provided in said mortgage, at the rate of ten shares for every bond of one thousand dollars so surrendered. At all meetings of said corporation, each stockholder shall be entitled to one vote for each share of stock held by him.

SEC. 3. Said corporation, upon paying and indemnifying the trustees under said mortgage for their services and liabilities, as set forth in said mortgage, may take a conveyance by deed from the trustees under said mortgage of all the railroads, property, premises, estate and franchises held by them under said mortgage, as is therein provided; and thereupon all the rights, powers and franchises, heretofore granted to or held by the Boston, Hartford and Erie Railroad Company, shall enure to and vest in said New York and New England Railroad Company.

SEC. 4. For the purpose of enabling said corporation to take up and discharge any and all liens and encumbrances ex