Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1852-06-17
BY R.. T. VAN HORN.

The main line TO oiter towns or places with
in the limits Of any county through which
said road may pass.
SEC. 5. The capital stock Of such com.
pany shall be divided into shares Of fifty dcl-
lars each, and consist Of such sum as may
be named in the certificate; such shares
shall be regarded as personal property, and
shall be subject to execution al law. .
SEC. 6. An instalment Of FIVE dollars on
each share Of stock, shall be payable al the
time of making The subscription, and the
residue thereof shall be paid in such install
mehts, and at such times and places, and to
such person, as may be required by the d.
rectors Of such company.
SEC. 7. IL any installment of stock shall
remain unpaid for sixty days after the time
/. may be required. whether such stock is
held by an assignee, ranslerree. or the orig
iral subscriber, the same may be collected
by action Of deb., or The directors may sell
The stock so unpaid at public auction, for the
ins,allment then due thereon; frs. giving
thirty days public notice Of The time and
place Of sale, in some newspaper in general
circulation in The county where such delin.
quen. stockholder resided at the time Of
making such subscription, or becoming such
assignee or trans!eree, or of bis ac,ual resi-
dence a, the time Of said sale; or. If such
slockholder reside ou. Of the state, such pub.
lical ion shall be made in the county where
tho principal Office OF III company islocated;
and if any residue Of money shall remain,
after paying the amount due on said stock,
the same shall, on demand, be paid over to
tho owner; if the whole of said installment
be no. paid by such sale, the remainder shall
be recoverable by an action Of debt against
tho subscriber, assignee or trans(eree.
SIC. s. That whenever any railroad com.
pany. hereafter incorporated, or created and
Incorporated under the eprovlsions Of this act,
shall, in the opinion Of The directors thereof,
require an increased amount Of capital stock
they shall, if authorized by the holders of a
majority Of The stock, file with the auditor
Of state certificate, setting forth the amount
of such desired increase. and thereafter such
company shalt be entitled 10 have such in.
creased capital as is fixed by said certificate
SEC. 9. That The persons named in said
certificate of incorporation, or any three ol
them, shall beau.horlzsd to order books 10
be opened for receiving subscriptions 10 .he
capital stock of said company, a, such ,inc
or times, and AZ such ploce or places, as they
may deem expedien,, afer having given a
least ,hiry days notice, in newspaper pub
lished or generally circulated in one or more
counties where books of subscription are tc
be opened, Of The time and place Of. opening
books; and so soon as len per centum on the
capital stock shall be subscribed, they ma!
give like noIico for the stockholders to NEE
a, such time and place as they may desig
naie, for 'he purpose Of choosing seven d.
rcc,o,s who shall continue in office until the
time fixed forth annual election, and uni
their successors are chosen and qualified; a
the time and place appointed. directors shal
be chosen, by ballot, by such Of The stock
holders as shall attend for ,hot purpose
either in person or by lawful proxies; eacf
share shall enlitle the owner TO one vote
and plurality Of votes shall be necessary
for choice; but after the first election o
directors, no person shall vote on any shar'
[on which any ins,allment is due and un
paid. The persons named in such cer,ifi
cule, or such Of them as may be present
shall be inspectors Of such election. an,
shall certify wha. persons are elected direc
tors, and appoint the time and place 70
holding their first meeting; majority G
said directors shall form board, and b
competent to fill vacancies in their board
make bylaws, and transact all business Il
{ the corporation; new election shall be an
hually held for directors, al such time an
place as the stockholders, at their first NEE
ing, shall determine, or as The bylaws {
I, the corporation may require; and the direC
Q tors chosen at any election, shall. so 500
/, thereafter as may be convenient, choos
!. one Of their number to be president, an
= shall appoint secretary and treasurer Of lh
corporation. The directors, before enterin
S on their duties, shall each take an oath {
Y affirmation, faithfully 10 discharge his du,ie
J, and they shall, from time 10 time, make sue
i dividends Of the profits Of said company, Q
!. they may think proper. ~
d SEC. 10. Such corporation is authorize
w CHsOt uPoh ouy iohuS NV bIO purpose
d examiniDgand surveying i,s railroad line, an
b may appropriate SO much thereof as may
II deemed necessary for its railroad, includin
: necessary side tracks, deposits and worl
y shops, and water stations, materials for col
y s.ruc!ion, except timber, right of way ovt
d adjacent laudS, sufficient 10 enable such con
,, pany to cons.ruc. and repair it's road, and
e right TO conduct water by aqueducts, and Ii
y right Of making proper drains; but no appr'
70 Pria,ion OF private property TO The use Of an
l. corporation provided for in this act, shall |
made, until full compensation therefor fir
s. be made, in money, or first secured by d
rs posiIe of money, 10 the owner or owner
re irrespective of any benefit from any in
le provemenI proposed by such corporation,
d. shall be prescribed by law. aa
'yt SEC. IL. That whenever any raiTo,
S, company heretofore Incorporated, or whit
r. may hereafter be incorporated, shall find
y necessary, for the purpose Of avoiding a
10 noyance 10 public travel, or dangerous
d, difficult curves or grades, or unsafe or unsu
be slantial grounds or foundations, or for 9th
al reasonable causes, TO change the location
10 grade Of any portions Of lhier road, whelh
ry heretofore made or hereafter to be mad
TO such railroad companies shall be and a
NO hereby authorized 10 make such changes
rs arade and location. not departing from h