Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1842-02-19

fix the compensation and prescribe the duties OF
the several officers and agents n the employ OF
the assoclatIoD; 10 require suen bonds, obligations.
and securities Of the secretary, treasurer, and
other officers Of the association, as may be Judged
necessary; to open, and continue open as long as
necessary. books for the subscription Uf addition
al stock IN said association; 10 acquire, purchase,
sell, lease, and dispose of real estate for the use
Of the association, for the purposes, and IN the
manner hereinafter described; TO decide upon all
locations of the work or works undertaken by said
association, and establish and construct depots.
tol!-gates, toll houses, machine shops, and all 9th
er necessary structures, fixtures, and machinery
and apparatus; TO order and cause 10 be made,
al! surveys, estimates, aud lettings OF works, at
such Tunes ana places as they may determine; to
prescribe such forms OF contract, rules. regula-
tIons, and specifications for the performance of
work, as they may Judge proper; TO enter upon
and take possession Of any lands and streams of
water, which may be necessary for the construc-
ton OF any such work, and 10 make the same
available; to regulate tins time and manner IN
which ali cars, boats, craft, vehicle, travel, and
property shall pass on said work or works; 10 hold,
use, lease, and occupy any water power, dePots,
toll gates. toll-houses, machine houses, wars-hou-
ses, structures, fixtures. apparatus, or machinery,
ibe ASSOCIATION may receive from the State, un.
der the provisions of this act; TO make, construct,
complete. and keep In constant repair, the work
or works granted. and surrendered TO such associ.
alton, by the provisions If this act, and on &C
count Q: which such association may have been
formed, 10 establish and collect the amount Of
tolls and transit duties for travel and transpoi ia
ton; 10 make and declare, (dedncting costs and
chnrycs0 n dividend o: clear profits and income Of
SAID work or works and aFpurienances. among the
Stockholders, at such times as may be deemed ex-
pedlent; and do all other necessary and proper
acts III accordance with The intent and meaning
Of this act.
SEC. 30. Such board shall have a public office
on or near the route OF such work.
SEC. 2l. Ia The construction Of such works, and
IN carrying out the provisions of this act, said MS
sociations shall in all respects be governed SO far
as the same can be made applicable by tho laws
now IN force concerning the prosecution of said
works.
SEC. %. The board o. said directors shall cause
a fair journal Of al! their proceedings 10 he kept,
and also a just account, If the capital stock and
property at every description, aud of all moneys
received from every source whatever. and Of oil
moneys disbursed To be entered in full on their
books, open TO the inspection OF the stockholders.
SEC. ID II shall b. la wf4i far ei,~h nran..ati@n
to acquire, hold and convey real estate for the fol
lowing purposes: First, such ns may be taken IN
subscription for stock. Second, such as may he
necessary for the Accommodation and Transaction
Of the business Of the work. Third, such as may
be mortgaged in good faith, by way of security,
for moneys due the association. Fourth, such as
shall! be conveyed 10 II in satisfaction of debts pre-
viously contracted in The course of its necessary
dealings. Fifth, such as the association shall pur-
chase at sales under judgments. DEGREES, or mort-
g tges IN its favor. Such association shall not
purchase. hold or convey real estate in any other
case, or for any other use Or purpose.
SEC. 24. All convcyances, leases, and transfers
of real estate, TO and from said associations, shall
be- in the name Of the president and directors
thereof All conveyances. leases, and titles. from
the association, shall be sealed with The seal Of the
association, signed by the president and counter
signed bv the secretary.
Sec. %. So soon as the board OF directors of
such association shall be organized, and such as
ISOLATION be fully constituted, uBder the provis.
ions Of this act, il shall be The duty Of the Off
GERS and agents Of the State having charge Of
such work or works, 10 deliver TO the board Of
directors copies Of the surveys. maps, profiles, and
estimates of the same, IN possession of such
agents. so far as the same may be required to be
furnished by such board, far which such officers
and agents shall be allowed reasonable compen-
sation, to be paid by such association.
SEC. 26. The board of directors shall fix the
amount of tolls and transi, duties upon all boats,
vessels, crafts, vehicles, teams, animals, and cars.
used IN conveying property. merchandise, md eff
fec;s. on and along any such work. procured, con
structed, used, and occupied by such association,
under the provisions of this act, and also on all
property, merchandise and effects transported on
and along the same. The said association may
when the work undertaken by them is a railroad,
use its own cars alone 70. transportation. il may
permit such to be owned and used by others.
SEC. %. Lists of the rate of tolls and transit
duties OF every kind, shall be made out by the Sc
cretary, as fixed by the board Of directors, and
shall be set up in the office OF the board, and in
each Of the business places, ware houses. cars.
boats, and ,oli-gates Of the association in use on
the route Of said work, and no other higher rate
of tolls or transit, duties shall be charged and ia
ken by any of the officers of said ASSOCIATION, un-
less the same has been altered by the board CT
directors and The list thereof set up as in this sec
ton provided. at least three months prior TO the
time OF charging and taking The same.
SEC. IS. If any officer or agsnt Of said assoeia-
iion shall violate the provisions Of the last p,ece-
ding section. hv exacting any greater amount of
tolls or transit duties than he might lawfully ex-
act. he shall forfeit end pay for every such vio.s-