The Democratic sentinel and Harrison County farmer. [volume] (Cadiz, Ohio) 1851-1852, 1852-06-09
LA VS. OF O II ! 0.
PUBLISHED BY AUTHORITY
mo. 87.l
No. 81.
AN ACT to provide for the creation and

number of natural persons, not less than
five, may become body corporate, with
all the rights, privileges and powers con-
ferred by, and subject to all the restric-
tions of this act.
TO CREATE AND REGULATE RAIL
ROAD COMPANIES.
Sec 2. That any number of persons
as aforesaid, associating to form compa-
ny for the purpose of constructing a rail-
road, shall, under their hands and seals,
make a certificate, which shall specify as
follows-1st. The name assumed by such
company, and by which it shall be known.
Cd. The name of the place of the termini
of said road, and the county or counties
through which such road shall pass. Sd.
The amount of capital stock necessary to
construct such road. Such certificate
shall be acknowledged before a justice of
the peace, and certified by the clerk Of the
court of common pleas, and shall be for
warded to the Secretary of State, who
shall record and carefully preserve the
same in his Office: and copy thereof, du-
ly certified by the Secretary of State, un-
der the great seal of the State of Ohio,
shall be evidence of the existence of such
company.
SEC. 8. That when the foregoing pro-
visions have been complied with, the per-
sons named as corporators in said certi-
ticate, are hereby authorized to carry into
effect the objects named in said certificate,
in accordance with the provisions Of this
act; and they and their associates, sue
cessors, and assigns, by the name and
style provided in said certificate, shall
be deemed a body corporate, with success
sion, with power to sue and be sued, plead
and be implicated, defend and be defend
ed, contract and be contracted with, ac-
quire and convey, at pleasure, all such
real and personal estate as may be neces-
sary and convenient to carry into effect
the objects of the incorporation, to make
and use common seal, and the same to
alter at pleasure, and do all ncedful acts
to carry into effect the object for which
it was created; and such company shall
possess all the powers, and be subject to
all rules and restrictions provided by this
act.
SEC. a. Said corporations shall be au
thorized to construct and maintain rail
road, with single or double track, with
such side tracks, turn-outs, offices, and
depots, as they may deem necessary, be-
tween the points named in the certificate,
commencing at or within and extending to
or into any town, city or village, named
as the place of the termini of such road,
and construct branches from the main
line to other towns or places within the
limits Of any county through which said
road may pass.
Sec. s. The capital stock Of such COM
pany shall be divided into shares of fifty
dollars each, and consist of such sum as
may be named in the certificate; such
shares shall be regarded as personal pro-
perty, and shall be subject to execution at
law.
Sec. 6. An instaIment of five dollars
on each share of stock, shall be payable
ut the time of making the subscription,
and the residue thereof shall be paid in
such nstalments, and at such times and
places, and to such person as may be re-
quired by the directors of such company.
Sec. 7. Ifany instalment ofstock shall
remain unpaid for sixty days after the
time it may be required, whether such
stock is held by an assignee, transferee, or
the original subscriber, the same may be
collected by action of debt, or the dircc-
tors may sell the stock so unpaid at pub.
lic auction, for the instament then due
thereon; first giving thirty days public
notice of the time and place of sale, in
some newspaper in general circulation in
the county where such delinquent stock
holder resided at the time of making such
subscription, or becoming such assignee
or transferee, or of his actual residence at
the time of said sale; or, if such stockhol-
der reside out of the state, such publica-
ticn shall be made in the county where
the principal Office of the company is loca-
ted; and if any residue of money shall re-
main after paying the amount due on said
stock, the same shall, on demand, be paid
over to the owner, if the whole of said in
stalment be not paid by such sale, the
remainder shall be recoverable by an ac-
ton of debt against the subscriber, assig
nee or transferee.
Sec. 8. That whenever any railroad
company, heretofore incorporated, or Gre
ated and Incorporated under the provi
sions of this act, shall, in the opinions of
the directors thereof, require an increased
amount of capital stock, they shall, if au-
thorized by the holders of a majority of
the stock, file with the auditor of state n
certificate, setting forth the amount of
such desired increase, and thereafter such
company shall be entitled to have such
increased capital as is fixed by said GER
tlhcate.
Sec. Q. That the persons named in
said certificate Of incorporation, or any
three of them, shall be authorized to or
der books to be opened for receiving SUBJ
scriptions to the capital stock Of said COM
pany, at such time or times, and at such
place or places, as they may deem expe-
aient.s after having given at least thirty
daysNnotice, in newspaper published or
generally circulated in one or more coun-
ties where books Of subscription are to be
opened, Of the time and place Of opening
books; and SO soon as ten per centum on
the capital stock shall 0e subscribed, they
may give like notice for the stockholders
to meet at such time and place as they
may designate, for the purpose Of choos-
ing seven directors, who shall continue in
Office until the time fixed for the annual
election, and until their successors are