Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1851-04-03
AN ACT
Relating to Railroad Companies.

Sec. l. Be Il enacted 6y the General Assen1-
.6ly Of the State Of Ohio, That whenever the
lines of Railroad of any Railroad Companies
in this State. or any portion OF such lines have
been or may be constructed, so as to admit the
passage of burden or passenger cars over any
two or more of such roads continuously, with
out break or interruption, such companies are
hereby authorized TO consolidate themselves
into a single corporation in the manner follow
ing:
]. The directors of said two or more corpo-
rations may enter into an agreement under
the corporate seal of each, for the consolida-
tion of the said two or more corporations,
prescribing the terms and conditions thereof;
the mode Of carrying the same into effect; the
name Of the new corporation; the number of
directors thereof, which shall not exceed thir
teen; the time and place of holding the first
election Of directors; the number of shares Of
capital stock in the new corporation; the
amount of each share; the manner of conver-
ting the shares Of capital stock in each Of said
two or more corporations into shares in such
new corporation; the manner Of compensa-
ting stockholders in each Of said two or more
corporations who refuse to convert their stock
into the stock of such new corporation, with
such other details as they shall deem necessary
to perfect such consolidation Of said corpora
fions. And such new corporation shall pos
sess all the powers, rights and franchises con-
ferred upon said two or more corporations by
the several acts Incorporating the same, or re-
Iating thereto respectively, and shall be subject
10 all the restrictions and perform all the du-
ties imposed by such acts, so far as the same
may be consistent with the provisions of this
act; Prorided, That all stockholders in either
of such corporations who shall refuse to con-
vert their stock into the stock Of such new
T. ~ I'll - h.
each Of the shares so held by them, if they
shall so require, previous to said consol. .datiou
being contaminated.
II. Such agreement Of the directors shall
not be deemed to be The agreement Of the said
two or more corporations, until after it has
been submitted TO the stockholders Of each Of
said corporations separately at a meeting
thereof; 70 be called upon notice Of at least
thirty days, specifying the time and place of
such meeting, and the object thereof, to be nd-
dressed to each Of such stockholders, when their
mace Of residence is known, and deposited in
the pnst Office, and published for at least three
successive weeks in one newspaper in at least
one Of the cities or towns in which each Of said
corporations has its principal Office of busine-s,
and has been sanctioned by such stockholders |
by the vote of at least two-thirds in amount of
the stockholders present at such meeting, vo-
ting DN DdlOls EcBdEu u SUCH t.
either in person or by proxy, each share of cap
such agreement Of the directors has been so
sanctioned by each Of the meetings of the |
stockholders separately, after being submitted
10 such meetings in the manner above men,
TONED, then such agreement of the directors
shall be deemed to be the agreement OF the
said two or more corporations.
Sec, 9. Upon making the agreement men,
toned in the preceding section, In the man
ner required therein, and filling duplicate
or counterpart thereof in the office of the
Secretary Of State, the said two CT more corpo-
rations mentioned or referred to in the said
first section, shsllbe merged in the new cor
poration provided for IN such agreement, TO
be known by the cor 1orate name therein mem
toned; and the details of such agreement
shall be carried into effect as provided therein
Sec 3. Upan the election Of the first board
AZ directors of the corporation created by the
agreement in the first section of this act mem
fioned: and by the provisions of this act, all
md singular the rights and franchises of each
and All of said two or more corporations, par
tee IN such agreement, all and singular their
r;.hts and interests, in and to every species Of
,,-o-svtv real. personal and mixed, and things
=, srtion. shall be deemed to be transferred to
.rd vested in such new corporation, without
nnv ofher deed to transfer; and such new cor
porstion shall hold and enjoy the same, togeth-
er with the right Of way. and all other rights Of
,n,ronerty. m the same manner, and to the same
extentI as IL the said two or more corporations,
narties 10 such agreement, should have contin-
ned 10 retain the title, and transact the bust
ness ofsuuh eorporations; and the titles and
ire real estate acquired by either Of said two
a, more corporations, shall not be deemed to re-
vert or be impaired by means Of any thing in
tI,is AT contained; Pforided, That all rights
n creditors, and all liens upon the property of
e;tter of said corporations, parties to said
srreeTneuf, shall be and hereby are preserved
,,n,p,peired. and the respective corporations
shall continue 10 exist so far as may be neces-
,arv toeuforce the same .and prOvlded further,
that an the debts, liabilities and duties Of ell
ther es mpany shall theneeforth attach to such
new cooperation, and be enforced from the
same to the same extent, and in the same man.
uer,ss Il such debts, liabilities and duties had
been originally incurred by 1t.
Sec. 4. Any railroad company heretofore or
hereafter incorporated, may, at any time, by
means Of subscription 70 tine capital stock of
SnVaiher cumpsny, or Otherwise. aid such CON-
pany in the construction Of its railroad, for
lhs spurpose sof forming connexion of said
last mentioned road with the readowned by the
esnptng furnishing said aid; or any railroad
company organized In pursuance OF law. may