Carroll free press. [volume] (Carrollton [Ohio]) 1834-1861, 1852-11-12
Cams Of Ohio.
PUBLISHED BY AUTHORITY.

To provide Tor the creation and regulation Oi
Incorporated Companies in the State Ohio.
SEQ. .. Be il enacted by the General As
sembly Of she STATE Of 0hI9, That any mum.
berornGI Wah persons, not less than five. may
become a body corporate, with all the rights,
privileges and powers conferred by, and sub
jeci 10 aII the res.rciions or This act. ~ p.
To CRRATR AND REGULATE RAILROAD GosIPA.
MES. .. .....4r
Sec. 2, That any number Of persons as afore.
said. associatDg, TO form company for The
purpose OF constructing railroad, shall, under
their hands and seals, make a certificate, which
shall specify as follows: IsI The name as.
sumed by such company, and By which il shall
be known. %. The name OF the place Of the
IermLi Of said road, aud the county or coua
Ties through which such TOAD shall pass. 81.
The amount of capital stock necessary TO con.
struct such road. Such certificate shall be ac.
knowledged before justice of the peace. aud
cerl6ed by the clerk OF The cour Of common
pleas, and shall be forwarded TO the Secretary
of State, who sha, record and carefully pre-.
serve the same In his office; and a copy there.
OF, duly certified by the Secrtl tlary 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 provisions
have been complied wi.h, the persons named
as corporators in said certificate, are hereby
authorized to carry into effect The objects named
in said certificate, 10 accordance with the pro.
visions of this act; and they and their assoc.
a.es, successors and assigns, by The name aOd
style provided in said certificate, shall lhereal.
ter be deemed body corporate, with success.
sion, with power In sue and be sued, plead aud
be impleaded, defend and be defended contract
and be contracted with, acquire and convey al
pleasure, all such real and personal estate as
may be necessary aud convenient 10 carry 10.
10 eject The objects of The incorporation, "a
make and use a common seal, and The sane to
alter at pleasure, and do all needful acts TO car
ry iuio , feet The object for which il was
created; and such company shall possess
all The powers, and be subject 10 all rules and
restrictions provided by this act.
Sec. 4. Said corporation shall be authorized
10 construct and maintain a railroad, with sin
gle or double track, with such sde.lracks, turn,
outs, offices and depoIs, as they may deem ne
cessary, between the points named in the cerIl
RcaIe, commencing at or within and extending
10 or into any town, city or village, named as
the place ofthe teTmini of such road, and con.
sGrucl branches from the main line 10 othel
towns or places within the lirnls of any coun.
W through which sad road may pass. a.
See. 6, The capital stock Of such company
shall be divided in.O shares Of fifty dollars each
and consist oil such sum as may be named in
the certificate; such shares shall be- regarded as
personal properly, and shall be subject TO exc.
e0tion at Law. ."..'t, POI. a.
= Sec. 8. An inslaIment of five dollars on
each share Of stock, shall be payable al The
time Of making the subscription, and the resi-.
due thereof shall be paid in such instaImenIs
and OF such times add places, aud 10 such per.
con, as may be required by the directors oI
such company 'I 'a. 's'.
Sec. 2. lf any inslament Of stock shall re-.
main unpaid for sixty days after the time il may
be required whether snth stock is held by an
assignee, Wansferee. or the original subscriber,
the same may be collected by acIon Of debt, OF
Tho directors may sell the stock so unpaid al
public auction, for the insIalmcnt then due
thereon; first giving 80 days public notice o.
the time aud place, of sale, in some newspaper
ia general circulation in the county where such
delinquent s.ockholder resided at the time o
making such subscription, or becoming such
assignee or WansleTee, or olhis actual residence
at time OF said sale; or, if such sIockhoder re,
side out Of the STATE, such publication shah bG
made in the county where the principal oificG
Of the company is locaed aud if any residue N
money shall remain. after paying the amour
due on said stock, the same shall on demand
be pai1 overlo the owner; il the whole Of sale
inslalmenl be not paid by such sale, the re
maindeg shall be recoverable by 40 action o
deO, against the subscriber, assignee or trans
fsree, aa.rsst.gG Hat Has HrssrssaE
Sec. 8, That whenever any railroad compa
nv, heretofore incorporated, OF created and in
corpOsated urder The provisions of this act
shallsid the opinion Of the directors thereof. re
auire az increased amount Of capital stock
Ghey shall. if authorized by the holders Of
majority of the stock, 6le with the auditor 0
STATE certificate, setting forth the amount Q
such desired increase, end thereafter sucn CON
pany shall be entitled 10 have such increase
capiIat as is fixed by said certificate. .a
Sec. 9. That the person named in said ceril
6cale Of incorporation, or any three of them
shall be authorized to order books TO be opene
foT receiving subscriptions to The capital s.oc
Of said company, al such time or times, at sue
place or places, as they may deem expedien
afier having given at leas. thirty days. notc'
10 newspaper published or generally cifculc
ted n one or more counties where books {
subscription are 10 be opened, Of the lime an
ntace ofopeDing books; and so soon as ten Pt
cant 90 The capital stock shall be subscribed
they mag give like notice for the sIockhode'
90 meet at such time and place as they ma
designate. for the purpose Of choosing seve
directors, who shalt continue in Office until It
tine fixed for lhe annual election. and uni
sAeir successors are chosen and qualified;
= the lime and place appointed, directors shall
chosen, by ballot, by such OF the s'ockhOlde
as shall attend for thai purpose, either in pc
L.. L. I'LL.