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Joint Special Comm. on the Western Rail-road Petition. Act concerning the surrender of stock of the Commonwealth, 1842
Senate No. 53 On February 17, 1842, a Joint Special Committee responded to a petition from the Western Rail-road Corporation with three bills:
1st--An Act concerning the surrender by rail-road corporations of the stock of the Commonwealth, 1842. Any railroad to which the credit of the state had
been loaned could purchase stock of the Commonwealth, surrender an amount of no less than $25,000 to the State Treasurer, and receive credit on its
mortgage for that amount. It could then increase its capital stock by a like amount. 2d--An Act concerning investment by corporations, 1842. Any
savings bank or insurance company could loan against its holdings of City of Albany bonds, with a few restrictions. 3d--An Act concerning the Western
Rail-road Corporation, 1842. The part of the act of 1839 allowing the state to purchase the railroad was repealed. (Digitized from a microfilm copy of
title originally held by the Library of Congress).
Title:   The joint special committee to whom was committed the petition of the Western Rail-road Corporation, praying for a restoration of their privileges : that corporations may be allowed to make investments in stock of the city of Albany; that commissioners of the sinking fund of any rail­road corporation may be allowed to invest such fund in state scrip; and that rail-road corporations may surrender scrip, respectfully report the accompanying bills.
OCLC Number:   1422914176
Available Volumes
NameFiche CountOnlinePaper Backup
Vol. 1YesNo