Report of the Hoosac Tunnel and Troy and Greenfield Railroad, by the Joint Standing Committee of 1866.Wentworth, Tappan
History
Report of the Hoosac Tunnel and Troy and Greenfield Railroad, by the Joint Standing Committee of 1866.
Wentworth, Tappan
Hoosac Tunnel (Mass.); Railroad tunnels -- Massachusetts; Troy and Greenfield Railroad Company
required to purchase the same, but the state treasurer shall withhold an
equal amount of state scrip at par in lieu thereof.
The semi-annual payments of the coupons, with the balance of the income
from the lease of the Southern Vermont Railroad, shall be collected by
or paid to the state treasurer, who shall therefrom pay the interest on
the two hundred thousand dollars of five per cent. scrip herein
authorized to be issued, and shall pay the balance to the commissioners
of the sinking fund of the Troy and Greenfield Railroad loan, to be by
them from time to time invested as is now by law required.
The Troy and Greenfield Railroad Company shall, as soon as may be after
the passage of this act, procure from the legislature of the slate of
Vermont the requisite authority for purchasing, holding and mortgaging
to the Commonwealth the franchise, railroad and property of the Southern
Vermont Railroad Company, according to the provisions of this act; and
in case such authority shall not be granted, and any want of security by
reason thereof accrue to the Commonwealth, the governor and council
shall withhold from the Troy and Greenfield Railroad Company portions of
scrip constituting the last deliveries to be made on the completion of
the tunnel, to such amount, not exceeding two hundred thousand dollars,
as may be required for further security.
SECT. 9. All acts and parts of acts inconsistent herewith, are hereby
repealed: _provided_, _however_, that such repeal shall not, and nothing
contained in this act shall, have effect or be construed in anyway to
release or impair any security which the Commonwealth now has or may
hereafter have by force of the bond and mortgage now held by the
Commonwealth on the franchise, railroad and property of the Troy and
Greenfield Railroad Company.
_Approved April 4, 1860._
[1862.--Chapter 156.]
AN ACT providing for the more speedy completion of the Troy and
Greenfield Railroad and Hoosac Tunnel.
_Be it enacted, &c., as follows:_
SECT. 1. The governor, with the advice of the council, is hereby
authorized and directed to appoint three able, impartial and skilful
commissioners to investigate the subject of finishing the Troy and
Greenfield Railroad, and of tunneling the Hoosac Mountain, whose duty it
shall be to report to the governor and council what, in their judgment,
will be the most economical, practical and advantageous method of
completing said road and tunnel, the estimated cost of fitting the same
for use, the time within which the tunnel can be completed, and what
contracts can be effected, and with what parties, for completing said
tunnel and road, and the probable cost of the same, the probable
pecuniary value of the road and tunnel when completed, the sources and
amount of traffic and income, and all other facts in their opinion
useful to assist the governor and council in determining the best method
of securing a continuous railroad communication between Troy and
Greenfield.
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