Gambar halaman
[blocks in formation]



AN ACT supplemental to an act entilled "An act to incorporate the North- In force June 11,

en Cru;s Rulroad Company," approved February 10, 134:3.



Section 1. B? it en ecteit hy the people of the State of Illinois, represented in the General Assembly, That the Northern Cross Railroal coinpiny s!ia!I have power to bor- Power to borrow row mney, on the credit of tie corporation, not exceeding its autioriisil capital stock, at a rate of interest not exceeding ten per cent. per ann'ın, pavable semi-annually, and may execute bunls t'rerefor, with interest coupons thereto annexed, and secure the payment of the same by mortgage or deed of trust on the whole or any part of the road, property and income of the coinpany then existing or thereafter to be acquired, and may annex to such mortgage-bonds the privilege of converting the same into the capital stock of the company, at par, at the option of such holders, if such clection be signifie l, in writing, to the company three years before the maturity of said bon is.

§ 2. Tuat the directors of said company be and they are sale of bonek. hereby authorized to negotiate and sell the bonds of said company at such times and at such places, either within or without this state, and at sich rates and for such prices as in their opinion will best advance the intrests of the company. And if such bonds are thus negotiated or sold at a discount below their par value, such sale and disposition thereof shall be as valid and binding on the company in every respect as if they were sold or disposed of at their par value.

§ 3. That the said company, in securing the payment of Security for loan. the said bon ls by a mortg ige or deed of trust on the road, property an'l income of the company, shall have power to execute a mortgage or deed of trust aforesaid, to secure the

« SebelumnyaLanjutkan »