Constantine republican. [volume] (Constantine, Mich.) 1836-1838, 1837-06-14

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corporate seals, shall vest in the company
hereby Incorporated, all such rights and
privileges, and the rights to use and enjoy
the same, as fully as they are now used
and enjoyed by the said corporation in
which they are now vested.
Sec. rs. The said president and direc-
tors shall have the power to purchase, with
the funds of the company, any place or any
rail road, constructed by them under this
act, all machines, wagons, carriages, or
vehicles of any description which they may
deem necessary or proper for the purpose
Of transportation upon said rail road, and
they shall have power to charge for tolls
and transportation all such reasonable sums
as shall be established by the bylaws of
said company hereby incorporated, subject
TO be revised and altered by the legislature
of this state and it shall be lawful for any
other company, or any other person or per-
sons, to transport any passengers, mer-
chandizc or property of any description
whltever, on said road or any part of it.,
by complying with the bylaws and regula-
lions of said company, and paying in adj
company, or revised by the legislature !;
and the said road, with all its improve
ments, works and profits, all machinery
used Oh said road for transportation, are
hereby vested in said company incorpo-
rated by this act, and their SUCCESSORS for
ever; and the shares of the capital stock
of said company shall be considered per-
sonal properly, and shall be transferable
agreeably to the bylaws of said company,
and subject to be taken on execution agree
ably to such laws as are or may hereafter
be in force. The right and privilege is
hereby reserved to this state, or any COM
pany now Incorporated, or hereafter to be
Incorporated, under the authority of this
state, to connect with the road hereby pro.
vided for, any other road leading from the
main route to any part or parts of this
stale Provided, That in forming such
connexion, no injury shall be done to the
works of the company hereby incorpora-
ted Provided further, That the said com.
pany or companies so connecting may
have the free use of said road, by paying
such tariff of tolls as may be established
by the Legislature and this incorporation
shall be entitled to the same rights and
privileges to any and all roads hereafter
connected.
Sec. II. The president and directors
shall annually, or semi-annually, declare
and make such dividend as they may deem
proper, of the net profits from the resources
of said company, deducting the necessary
current expenses and they shall make
such dividend among the stockholders of
said company in proportion to their respec-
tive shares.
Sec. IL. If any person or persons shall
wilfully, knowingly and maliciously remove
stake; alter deface or injure in any man.
ner, any stake or fixture, set by any engi-
neer, superintendent, or other person in
the employ of said company; or by any
other means injure, impair, or destroy any
part Of the rail road constructed by said
company under this act, or destroy any of
the necessary works, buildings, or ma
chinery of SAID company, such person or
persons so offending shall each of them,
for every offence, forfeit and pay to the said
company a sum not exceeding three times
the amount Of damage caused by such Of.
fence, which may be recovered in the name
of the company, by an action Of debt in any
court having competent jurisdiction, in the
county where the offence shall be commit.
ted and shall also be subject to indictment,
and upon conviction OF such offence, shall
be punished by fine and imprisonment at
the discretion of the court Provided, The
Imprisonment shall not exceed one year.
Sec. 10. The state shall have the right,
at any time after the expiration of FIVE
years from the completion of the said rail
road, to purchase and hold the same for
the use of the state, at price not exceed
ing the original cost Of the said road, exclu.
sive Of the repairs thereof, and fourteen per
centum thereon; of which cost an accurate
account shall be kept, and submitted annu.
ally on the first Monday in January, TO the
legislature, duly attested by the oath of the
officers Of said company, and at such 9th.
err times as the legislature shall require the
same.
Sec. 20. Said company shall at all times
if required by the Post Office Department,
transport the United States mail upon said
road, as often as their cars shall pass the
same, not exceeding twice in each day, for
such compensation as shall be agreed upon
by said company and department, not ex-
ceeding the average price paid by said de.
partment for the transportation Of the mail
in post coaches, three times a week, like
distance, upon the several post roads in
this state /; Provided, Nothing herein con.
tanned shall be construed to require any
of the vehicles of said company to wait
at any Office for a change of the mail.
Sec. 81. The state shall have the right
of subscribing, at the times and places men.
toned in the first section of this act, any
number of shares in the capital stock Of
said company, not exceeding one thousand,
and in such case the Legislature shall, if
requested by the stockholders, increase
the number of shares and stock, which said
corporation may hold, to the amount of
the sum or sums which may have been sub.
scribed.
Sec. %. This act shall be favorably con-
strued to effect the purposes thereby intend.
ed, and the same is hereby declared to be
public act, and copies thereof printed by the
authority of the state, shall be received as
evidence thereof.
Sec. 90. Nothing in this act shall be con.
strued to authorize or empower said com.
pany to carry on banking business, or to
use or employ the funds or any part there
OF, or permit the same to be used or en-