Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1837-06-07
wasee Raj ssSad Company.

AN ACT to incorporate; =, az o ~r,,va, '"'
~. .s wassee Raj ~oao company
q g., a. DC Il enacted by the Senate and
yE,se'of Representatives. Of me State 81
Michigan, That Marshall j. Bacon, Silas
.Tituss Elisha F. Cook, Thomas Curtis,
Alfred A. Dwight Robert Warden, junr.,
and Ely Barnard, be and they are hereby
,eppointed commissioners, under the d.
rectiop of majority Of whom subscript ons
NAV be received to the capital stock Of the
Detroit and Shawassee railroad Company,
hereby incorporated and they shall cause
'boolssto be opened at the City Of Detroit
and ia the village Of Kensiugton, in the
county of Oakland, and in each place for
sIie space of three days, at such times as
they shall direct, for the purpose Of receiv-
ing subscriptions to the capital stock OF said
company, first giving thirty days notice in
at least two newspapers printed in this
state, of the time of taking subscriptions as
aforesaid.
Sec. 2. The capital stock of said CON-
. pany shall be five hundred thousand dol.
lars, in shares of fifty dollars each; and
: as soon as five hundred shares of said
I stock shall be subscribed, the subscribers
thereto, with such other persons as shall
! associate with them for that purpose, their
successors and assigns, shall be and they
are hereby created body polite and cor
: porate, BY the name of "The Detroit and
~'6hiawassee Rail Road Company" with
perpetual succession, and by that name
shall be capable in law of purchasing, hold
ing, selling, leasing and conveying estate,
either real, or personal, or mixed, so far as
, The same may be necessary for the pur-
poses hereinafter mentioned, and no fur
Their; and in their corporate name may
sue and be sued, may have common seal
J which they may alter and renew at pleas
ure; and shall have, enjoy and may exer-
else all the powers, rights and privileges
which appertain to corporate bodies, for the
/. purposes mentioned in this act.
Sec. 3. Said corporation hereby created
shall have power 10 construct rail road,
with single or double track, from Detroit,
in the county Of Wayne through Far
mington, in the county Of Oakland, Ken
sington, in the township Of Lyon; the
county seat in the county of Livingston |;
Byron, in the county of Shiawassee, to
/. Shiawassee village in said county of Shia-
wassee; with power to transport, take and
!, carry persons and property upon the same,
by. the power and force Of steam or an.
mails, or of any mechanical or other power,
or combination Of them.
\ Sec. A.. If said corporation shall not
within one year commence the construc-
ton of said rail road, and shall rot within
two and a half years from the passage Of
this act, construct, finish and put in opera
ton twenty-five miles in distance Of said
road, and shall not within six years CON-
plete and put in operation the whole of said
road, or in the event of the failure of the
company to construct the parts of the said
rail road within either of the times above
specified, then the rights, privileges and
powers of said corporation shall be null
and void as far as it regards the parts ofthe
said road as shall not be finished within the
periods limited by this act.
Sec. 5. Whenever five hundred shares
Of the capital stock shall have been SUBJ
scribed, if within one year from the pas.
sage of this act, the commissioners shall
call meeting of the subscribers, at such
time and place as they may appoint by
giving thirty days notice Of such meeting,
in the manner prescribed by the first sec.
ton of this act and at such meeting shall
lay the books of subscription before the
subscribers present, and thereupon the
stockholders may elect seven directors by
ballot, a majority of whom shall be compe-
tent to manage the affairs Of said company
: and said directors are empowered to elect
one Of their number president: and on all
occasions when vote of the stockholders
is TO be taken, each and every share shall
entite the holder to one vote, either by him.
self in person or by proxy.
Sec. 6. To continue the success sion Of
president and directors of said company,
seven directors shall be chosen annually
on the first Monday in October, at such
place as may be appointed by the directors;
and if any vacancy shall occur by death,
resignation or otherwise, of any president
or director before the year for which he
was elected shall have expired, such va
cancy for the remainder of the year may
be filen by the directors Of said company,
VI HiuJoIity vi tiiCui IuC uiICCtoiS vi
said company shall hold their Office until a
new election Of president and directors (;
all elections which are by this act, or by the
bylaws of the company, 70 be made upon
a particular day, if not made on such day,
may be at any time within sixty days there.
after, notice of such meeting being given
in the manner prescribed by the preceding
section of this act.
Sec. 7. A general meeting of the stock
holders of said company shall be held an
uually, at the time and place appointed for
the election of the president and directors !;
and a majority may be called at any time
Intervening said annual meetings, by the
said president and directors, or by the
stockholders owning not less than one
tenth Of the stock, by giving thirty deyo'
public notice of the time Of meeting and
the place, in the manner herein before pre-
scribed and when such meeting is called
by the stockholders, the particular object of
such call shall be stated; and if at any
meeting thus called majority in value Of
the stockholders are not present, in person
or by proxy, such meeting shall be ad-
journed from day to day, not exceeding
three days, without transacting any bust
ness; and if within said three days stock.
hrldorc haviu0 n ro,;or,txy <,f tb, cfock do