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.

At head of title: Commonwealth of Massachusetts. In Senate, Feb. 17, 1842

[Boston, Massachusetts?] : [publisher not identified], [1842]

1 online resource (6 pages).

Senate (Series) (Massachusetts. General Court. Senate) ; 1842, no. 53.

Report of a Massachusetts joint special committee responding to a petition from the Western Rail-road Corporation. Three bills are submitted: 1st, "An act concerning the surrender, by rail-road corporations of the stock of the Commonwealth." 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." 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." The part of the act of 1839 allowing the state to purchase the railroad was repealed.

Online resource; title from PDF first lines of text (LLMC Digital, viewed February 17, 2024).

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Rail-road corporations, Feb. 1842

English

Act concerning the surrender, by rail-road corporations, of the stock of the commonwealth.
Act concerning investments by corporations.
Act concerning the Western Rail-road Corporation.

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