Portage sentinel. [volume] (Ravenna, Ohio) 1845-1854, 1851-04-28
mo. 33 ]
AN ACT

Assembly Of the State Of Ohio, Tha
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 oil
burden or passenger cars over any two OF
more Of such roads continuously, without
break or interruption, such companies are
hereby authorized to consolidate themselves
into a single corporation in the manner
following: =. .s!
|. The directors Of said two or more
corporations may enter into an agreemen,
under the corporate seal of each, for the
consolidation of The s,id two or more cor.
porations, prescribing the terms and con.
ditions thereof; The mode of carrying the
same into effect; the name of the new cor.
poration; the number of directors thereof.
which shall not exceed thirteen; 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 converting
the shares Of capital stock in each Of said
two or more corporations into shares in
such new corporations; the manner Of com.
pensatiDg stockholders in each Of said two
or more corporations who refuse to convert
their stock into the stock of such new cor.
poralion, with such other details rs they
shall deem necessary TO perfect such con-
solidation OF said corporations. And such
new corporation shall possess all the pow
ers, rights and franchises conferred upon
said two or more corporations by tho seve.
raj acts incorporating the same, or relating
thereto respectively, and shall be subject
to oil the restrictions and perform all the
duties imposed by such acts, SO far as the
same may be consistent with the provis.
ions of this act; Proriled, Tint all stock
holders in either of such corporations who
shall refuse to convert their stock into the
stock Of such new corporation shall be paid
at least par value for each Of tho shares so
held by them, if they shall SO require, pre-
vious 10 said consolidation being consuma.
ted. s
RI. Such agreement Of the directors
shall not be deemed to be tho agreement
Of the said two or more corporations, until
aGerit has been submitted % the stockholders
Of each Of said corporations separately,at
meeting thereof, to be called upon notice
of at least thirty days, specifying the time
and place of such meeting, and The object
thereof, TO be addressed 10 each of such
when their place of sesidence
is known, and deposited in the post Office,
and published for at least three successive
weeks in one newspaper in at least one OF
Il e. in ,hioh aach nf enid
corporations has its principal Office Of bus-
iness, and has been sanctioned by such
by the vote OF at least two
thirds in amount of the stockholders pres
ent at such meeting, voting by ballot, In
regard to such agreement, either in person
or by proxy, each share of capital stock
being entitled to one vote; and when such
agreement of the directors has been so
sanctioned by each of the meetings OF the
stockholders separately. utter being submits
ted to such meetings in the manner above
mentioned, then such agreement OF the di
rectors shall be deemed to be the agreement
of the said two or more corporations.
SEC. Q. Upon making the agreement
mentioned in the preceding section, in the
manner required therein, and filing du.
pllcate or counterpart thereof in the office
of the Secretary Of State, the said two or
more corporations mentioned or referred
10 in the said first section, shall be merged
in the new corporation provided for in
such agreement, to be known by the cor
porate name therein mentioned; and the
details of such agreement shall be carried
into effect as provided therein.
SEC. 3. Upon The election Of the first
board Of directors Of the corporation crea-