The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1852-07-14

SuCu dSSiSHce VI IduoeIco, vi w iiS "N'e |
al residence at the time Of said sale; or,i
such stockholder reside out OF the State,
such publication shall be made in the
county whore the principal office OF the
company is located; and il any residue of
money shall remain, after paying the
amount due on said stock, the same shall.
on demand, be paid over to the owner; il
the whole of said installment be not paid
by such sale, the remainder shall be re-
coverable by an action Of debt against the
subscriber, assignee or transferee.
Sec. 8. That whenever any railroad
company, heretofore incorporated. or ere
ated and incorporated under the provisions
of this act, shall in the opinion of the di-
rectors thereof, require an increased a.
mount of capital stock, they shall. if au-
thorized by the holders Of majority of the
stock, file with the auditor of State cer-
tifcate, setting forth the amount Of such
desired increase, and thereafter such com
pany shall be entitled to have such in
creased capital as is fixed by said certifi-
cate.
Sec. 8. That the persons named in said
certificate of incorporation. or any three
of them, shall be authorized TO order books
to be opened for receiving subscriptions to
the capital stock of said company. at such
time or times, and at such place or places,
as they may deem expedient. after having
given a. least thirty days notice. in news
paper published or generally circulated in
one or more counties where books OF sub
scription are TO be opened, OF the time and
place Of opening books; and SO soon as
ten per centum on the capital stock shall
be subscribed, they may give like notice
for the stockholders to meet at such time
and place as they may designate, for the
purpose Of choosing seven directors, who
shall continue in office until the time fixed
for the annual election, and until their sue
cessors are chosen and qualified; at the
time and place appointed, directors shall
be chosen, by ballot, by such Of the stock
holders as shall attend for that purpose,
either in person or by lawful proxies; eacli
share shall enttle the owner to one vote,
and plurality of votes shall be necessary
for choice; but after the first election Of
directors, no person shall vote on any
share [on1 which any installment is due
and unpaid. The persons named in such
certificate, or such of them as may be
present, shall be inspectors of such cleo.
lion, and shall certify what persons are
elected directors, and appoint the time and
place Tor holding their first meeting; ma.
,, ioritv of said directors shall form board
,, and be competent to fill vacancies in theil
,, board, make bylaws, and transact all bu
siness of the corporation; new election
!, shall be annually held for directors, at such
time and place as the stockholders, at theil
: first meeting. shall determine, or as the by
laws OF the corporation may require; anc
the directors chosen at any election, shall
so soon thereafter as may be convenient
choose one oftheir number to be president
and shall appoint a secretary and treasur
er OF the corporation. The directors, be
fore entering on their duties, shall eact
= take an oath or affirmation, faithfully Il
: discharge his duties, and they shall, from
! time to time. make such dividends of tn
!, profits Of said company, as they may thinl
q proper.
SEC. TO- Such corporation is authorized
4 to enter upon any land, for the purpose o
;. examining and surveying its railroad line
+. and may appropriate so much thereof a
q may be deemed necessary for its railroad
n including necessary side tracks. depot
!. and workshops, and water stations mate
i rials for construction, except timber.
a right of way over adjacent lands, sufficien
). to enable such company to construct an
. repair its road. and right to conduct wa
ter by aqueducts, and the right of making
!. proper drains; but no appropriation of pri
!. vate property to the use of any corporatio
h provided for in this act, shall be made, vi
/ ill full compensation therefore be first mad
!. in money, or first secured by deposite {
money, to the owner or owners. irrespet
q tive of any benefit from any improvement
$ proposed by such corporation, as shall b
d prescribed by law.
o SEC. IL. That whenever any railroa
IF Company heretofore Incorporated, {
v which may hereafter be incorporated, sha
find it necessary, for the purpose Of avoi,
/. ing annoyance to public travel, or DANCE
v Gus or difficult curves or grades, or vi
S safe or unsubstantial grounds or found,
h tons, or for other reasonable causes,
}. change the location or grade of any po
1t tons of their road, whether heretofoI
made or hereafter to be made, such raj
n road Companies shall be and are hereb
le authorized to make such changes ofgrad
e and location, not departing from the ger
i eral route prescribed in the certificate
$, such company; and for the purpose Of mi
Y king any such change in the location an
grades Of any such road, as aforesai,
Il such company shall have all The right
e powers and privileges. to enter upon an
is take end appropriate such lands. an
= make surveys necessary 10 effect sue
d changes and grades, upon the same term
y and be subject TO the same otffgation
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