Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1847-03-30

| for its construction, and that much of the soat
as may be completed within the time aforesaid
! shall have all the ights, privileges and benefits o
this act as though the same had been completed
Section 30, makes it the duty of the company t,
keep up good causwavs all State or count,
roads leading said rail road, and grants tn,
| privilege to any one owning land both sides o
| the track of building causwavs across the same
! provided no obstruction is thrown in the way o
/ the road Section 81, gives them the privilege o.
| putting such carriages to the track as the =,
may deem proper, we'll the number Of aque-
| ducts, culverts. toll and ware houses necessary
| giving them the further privilege of chars ing
! fer travel and trans portation on the same when
| it is graded and bridged although the rails may
| not he laid down. Section %, gives the co:npa-
J ny power 10 regulate their tolls-,he estab-
i!shed rates TO be posted up in nspicuous
place. Section %. provides that when the ag-
gregate amount Of diviien declared shall a.
mount to the full sum invested and ten per &C n
per annuin thereon, the Legislature may so regu-
late the tolls and freghts that more than fif-
teen per cent. per annum shall be divided on the
capital employed, the surplus profits going into
the Treasury for the use of common schools
nual dividends on the first Monday in December
and July no dividends made to 4 greater amount
than the profits after deductng all expenses, the
directors having the privilege Of retaining such
proportions of the profits contingent fund TO
meet subsequent expenses. Section 25, points
out the penalties conviction Of any person for
injuring obstructing the road. Section 90,
makes it lawful for the county commissioners of
any county through which the road passed, to au-
as hey as ag uih lGSk 5e be hfp ssd
the time the books opened Section %,
makes it the duty of the corporation TO make
exhibit the affairs of the company at any an
nual election at any other general meeting OF
the stockholders. Section % gives any number
of stockholders, owning onc-third of the stock,
the power 10 call general meeting of the stock
holders bygvng.iue notice, the object of the cali
being specified, when such meeting make
any orders they deem proper. Section %, gives
them the privilege, by contract, of interesting
any other road they please. Section 80, reserves
TO the State, in time of war, the right of trans
porting troops, munitions of war, &c, free of toll.
Section 81, gives the company the privilege Of
increasing the capital stock provided the amount
now granted shall proye insuffieia"t St ~.
n,ahrs il The duty or the corporation, when the
route is finally located. to furnish the Secretary
of State, with map of the same, and also pro-
hibits them from altering said location, unless
they pay the amount of damages su stained by
the owners of land which they shall occupy in
said change Section 33, provides for forfeit
ure of the road, in of its becoming impassi
bic for year, unless when repairing. Section
"a, prohibits the company from entering into
any kind of trade, merchandise, &c, &c, or is
bills of credit or bills of receipts of any dis
cription to pass as circulating medium. Sec
ton 3, the State TO herself the right of
Inspecting the books of the company, in which
are required TO be kept faithful record of all
the expenses of said road, we'll the right TO
purchase the stock after % years by paving sum
of money which, together with the tolls received
shall equal the cost and expenses of said rail
road, with ten per cent. interest per annum.--
The last section makes the directors individually
liable for any debts contracted over and above
the amount of good and solvent stock subscrib-
ed, and the legislature reserves the right to alter
or amend the the charter, and TO repeal the same
if its provisions shall be violated by said compa-
ny.