Richmond palladium. [volume] (Richmond, IA [i.e. Ind.]) 1839-1854, 1849-02-28

LOT Ino payments OF Sucn allowances as
may be made to their officers, and others
in their employ; which journal shall be
read from time to time by the board. and
if found to be correct, to be signed by the
President. They may sit on their own
adiournments or on the order of the Pre-
sident; when the President is absent, they
may appoint President pro tenn; they
may fill all vacancies which may happen
in their own body.
Sec. S. The directors shall have
charge OF the stock books Of said COM
pany. with full power TO receive subscrip-
tiors TO said stock. and collect the same at
such places in Wayne county, and at such
time or times as they may appoint. after
six weeks notice in some newspaper near
said work, in such amounts as they may
think best for the interest of the work, not
exceeding in amount fifty (5O) per cent.
Of which in each year, after tho stock be-
comes payable.
SEC. g. 1t shall be lawful for all per-
SONS Of lawful age, for the agent of any
corporate body, for the agent Of any coun-
ty, for the agent Of any state, or the T..
States. on behalf OF the same. to subscribe
for any amount OF capital stock. and the
books shall be kept open for such space Of
time and at such places as the corporation
shall choose, and may be opened at
any time; and they may, by an agent. offer
for sale in this or any other State, any
amount Of stock, upon such terms and
conditions as may be thought advisable;
and they shall have power, on their own
credit, 10 borrow money on such terms as
may be agreed on by the parties.
IL han kn 4, e to
directors, at their first meeting, or within
three months thereafter, to call by adver-
ltisements, for such portion Of the first
they may deem proper.
SEC. 10. Certificates Of stock shall be
given by the stockholders. which shall be
evidence of the stock held; they shall be
signed by the President. countersigned by
the clerk; the stock shall be transferable
only on the books Of the corporation per-
onally, or by an agent, or attorney, or by
the administrator. executor. trustee, or
guardian but such stock shall at all times
be holden by the corporation for any dues
from the holder thereof &c the corporation.
for any sum that may hereafter become due
on contract made prior to such transfer
SEC. r. All elections after the first.
shall be held on the first Monday Of April,
annually; each person owning stock in
said company shall be allowed TO give one
vote for each share SO owned, (for one
month previous to such electon;) owners
Of stock may vote by proxy or by legal
representatives. Two stockholders, who
are not directors, shall be appointed by
the board previous to each election, who
shall act as Judges of such election; give
certificates to those who receive the high
est number of votes, informing them of
their election; and it shall be the duty Of the
directors to elect meet and organize with
in three days after such an election; but if
circumstances should transpiro to prevent
such an election. on the day appointed,
the directors shall appoint another day for
that purpose.
SEC. IA. That if said road, after its
completion, shall be suffered to 60 into
decay. or to be impossible for one year.
this charter shall be forfeited: and also all
damages. detentions,& &c, caused to travel
lcrs by inperfections in said road. or its
bridges. may be charged for by the person
sustaining the same, and collected as a
common debt; and it shall be unlawful for
the company to collect toll for any part Of
exist.
Sec Is. 1t shall be lawful for the
directors to receive subscriptions in money,
or approved work; if in work, to be done
at such times as the contractor or contrac-
tors having tho construction OF said road
NAV require, and wages TO be agreed on
by the contractors and stockholders. and
if such agreement cannot be effected. the
stock to be collected in money, and a
receipt from the contractor TO the company.
received through said stakeholder, shall
be q sufficient voucher that said stock is
paid.
tSEc. IS. And for making the neces-
sary examination and ocation, it shall be
lawful for the corporation. by their agents.
and persons in their employ to enter upon
any land to make surveys and estimates.
and for the purpose of searching for stone,
gravel, wood. or other materials necessary
for the construction of said road; but no
such material shall be taken away from
any land without the consent Of the own
err thereof, until the rate Of compensation
shall be ascer,ained and paid or secured
to the owner.
SEC. IA. 1t shall be lawful for the
corporation either before or after the loca-
ton Of any section of said road. TO obtain
from the person or persons through whose
land the seine may pass, accomplishment
Of so much Of said land as may be neces-
sary for the construction and location OF
said road. as also the stone. gravel. timber.
or other materials. that may be obtained
on said route, and may contract for such
materials as may be obtained on any other
land near thereto; and it shall be lawful
for said corporation to receive by donation,
gifts. grants. or requests. land. money.
labor. stone. gravel. or other materials. for
the benefit of said corporation: and all
such gifts, grants. donations. relinqush-
ments, or requests. made and entered in
writing. by any person or persons capable
in law to contract. made in consideration
Of such location and for the benefit Of the
corporation, shall be binding and obliga.