Lewisburg chronicle. [volume] (Lewisburg, Pa.) 1850-1859, 1851-04-23
PLANK ROADS.
An Act to Incorporate the Lewisburg &
Brush Valley Plank Road Company.

than Wolfe, o. n. Worden, j.. B. Christ,
j. S. Marsh, II. C. Hickok, William Frick,
Levi Sterner, G. F. Miller, II. w. Fries,
James McCreight, Daniel Rangler, Philip
Rhul, d. ID. Guldin, Jacob Seebah, j. D.
Chamberlin, Martin Drisbeach, and John
Chalnberlin of Union county, and Thomas
Wolfe, DR.. Samuel Strohecker, John
Reynolds, John kreamer, and John For
ser, Of Centre county, be and they are
hereby appointed Commissioners to open
books, receive subscriptions and organize
company by the name, style and title of
The Lewisburg & Brush Valley Plank
Road Company" with power to construct
d plank road from the intersection of
Fourth and Saint Anthony streets, in the
borough of Lcwisburg, in the county of
Union; by the Buffalo Cross Roads, to the
west end of the Brush Valley narrows, in
Centre county, at or near Stover's saw
mill, hy the nearest and best route, subject
to al the provisions and restrictions of an
Act regulating turnpike and plank road
companies approved the twenty-eighth day
ofJanuary, one thousand eight hundred
and f"rty-nine, and the Supplement there
10. excepting that portion of the thirteenth
section of said act relating to tolls which
discriminatcs in favor of wheels of four
inches and upwards and the company
hereby Incorporated, shall have power to
regulate their tolls within the limits pre-
scribed by said thirteenth section, without
reference to the width of the wheels in
an case.
s.. That the capital stock of said Com
pany shall consist Of one thousand shares,
at twent five dollars per share 4: Provided,
that said company may from time to time,
by vote of the stockholders at meeting
called for that purpose, increase their cap
ital so much as in their opinion may be
deemed necessary to complete the road and
to carry out the true intent and meaning
&c this act
s.. That if said Company shall not
commence the construction Of their road
within two years after the passage of this
act, and complete the same within four
years thereafter, this act shall be null and
void except SO far as the same may be
necessary to wind up the affairs and pay
the debts of said Company.
SYNOPSIS of an Act regulating Turn
pike and Plank Road Companies, passed |
2Gth Jan. 1919. ,Painph. Laws, 10-l7.
Section 1. Authorizes any five commits
sioncrs named in any special act incorpor-
nting said company,to open books to receive
subscriptions Of stock, after giving twenty
days notice in newspaper in the respec-
tive counties, and requires the payment of
no; less than one nor more than five dollars
per share at the time of subscribing
So. When ten per cent. of the capital
stock named in such special act is subscri-
bed, the commissioners may Cor, if it be
all taken, shalD certify the same to the
Governor, who is required to issue letters
patent creating the company and conferring
upon them full corporate powers.
So Provides for the election of one pre-
sidcnt, FIVE managers, one treasurer, and
such other officers as may be needed each |
stockholder or his proxy, having one vote
for each share of stock not exceeding ten,
and one vote for every five shares exceeding |
ten, but no one Allowed to vote unless their !
stock is fully paid up.
s4. Annual election for officers on the
first Monday of November in each year.
So. Certificates of stock to be issued,
transferable on the books of the company,
if the holder is not indebted to the compa-
ny.
sc. Authorizes officers and agents Of
the company to enter upon any lands and
enclosures to survey route, and examine
materials, cut drains, &c, with the same
rights and under the same penalties as su-
peryisors of highways.
81. Three managers to make a quo
rum; to keep minutes Of their proceed
ings and empowered to make all neces-
sary contracts.
IS. Unpaid instalments of stock, after
thirty days to be charged with one per
cent. per month interest; and when inter-
est equals principal the whole to be forfei-
ted to the company; or the company may
bring suit after sixty days.
50. Damages to land in making the
road to be agreed upon by the company
and owners; and if they can not agree,
three asscssors to be chosen, and fix the
amount. No property to be taken till
payment made or secured.
SO. Officers to keep careful accounts
of receipts and expenditures; and if stock
insufficient to complete the road, may be
increased at any stated or special meeting
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