Ledger of the Norwich and Worcester Railroad sinking fund, 1858-1877.

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Ledger of the Norwich and Worcester Railroad sinking fund, 1858-1877.

Pursuant to St 1854, c 134, the state treasurer was authorized to issue scrip or certificates of debt to finance the extension of the state loan to Norwich and Worcester Railroad Company and to establish and manage a sinking fund. The treasurer of the Norwich and Worcester Railroad was required to deposit $10,000 annually into the fund for future payments and redemption of the scrip issued. Ledger is among the main books of account by which expenditures and receipts of the fund were recorded and summarized.

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Related Entities

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Massachusetts. Treasury Dept.

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St 1890, c 428 enabled municipal officials or directors of railroad companies in Massachusetts to petition the Superior Court to abolish or alter railroad grade crossings; a court-appointed commission then made a decision to be confirmed by the court. The expenses for the work were shared between the railroad, to pay 65%, and the state and municipality, which divided the remainder according to the ruling, with the state to pay no more than 10%. The state treasurer was authorized to issue bonds a...

Norwich and Worcester Railroad Company

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Massachusetts. Treasury Office

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Throughout the provincial period, Massachusetts towns were periodically assessed by the Treasury with taxes for the defraying of public charges and support of the government. This practice increased in importance and frequency during the Revolutionary War, as individual colonies became largely responsible for financial support of the war effort. Resolves 1777-78, c 398 (Oct. 9, 1777), dictated that all Massachusetts financial support of the war was thenceforth to be based on taxation only, with ...