The Portsmouth inquirer. [volume] (Portsmouth, O. [Ohio]) 1849-1855, 1852-06-04

: ONO, for the use of common schools. is
I ITO CREATE AND REGULATE TURN
PlKE AND PLANK ROAD COMPANIES
Sec: ~. Turnpike and Plank Road comps
MES shall be created in the same manner as
provided in The second section of this act fol
the incorporation Of railroad companies; an
when SO incorporated, are hereby authorize
to construct turnpike or plank road as may b
. named in their certificate of incorporates, an
by the name and style provided in said certif
cate, shall be deemed a body corporate, wit
; succession; and they aud their associates, shal
have the same general corporate powers, as
; provided for railroad companies in the thir
section of this act, and shall be subject 10 al
the restrictions hereafter provided.
Sec. 28. That SO soon as the persons namet
in any certifcate.of incorporation, for an.
turnpike or plank road company, or majority
of them, shall have associated themselves to
gether and organized, they may then procees
to open subscription books, at such places Al
/ they may designate, fer the purpose Of receiv
ing subscription to the stock Of such company
IN shares of such amount as may be designated
which books shall be opened at such time oil
times, and under such regulations, as shall be
directed by such corporators, ora majority oi
them, giving at least thirty days notice in some
public newspaper in general circulation, prin-
ted on or nearest TO the route of such intended
turnpike or plank road, Of the time and place
or places Of opening such subscription books;
Provided, that not more than five per centum
on each share shall be demanded at the time
Of subscribing, nor more than ten per centum
at any subsequent installment; and at least six
ty days notice shall be given, in manner afore
said, Of the time and place or places Of paying
in any installment subsequent to the INSTALL
ment paid at the time of subscribing;
! Provided, also, that no installment shall
be called for in less than sixty days from the
day OF payment Of any preceding installment.
! They shall also have power to borrow money,
Ior the completion of their road, not exceeding
In amount one-half Of their capital stock, in
the same manner, upon the same terms, and un-
der the same regulation and restrictions as are
provided in regulation to railroad companies,
in section fourteen of this act.
Sec. %. That whenever ten per centum of
the capital stock of any such turnpike or plank
road company, shall be subscribed, it shall be
the duty of the corporators named in such GER
tificate, to call meeting Of the stockholders.
at such place ad dining The proposed route Of
such turnpike OF plank road, as they may deem
expedient, for the pufsose Of electing seven di.
rectors, OF the time aud place Of holding which
meeting, at least thirty days notice shall be
given by said corporators, by publication, as
prescribed in the ninth section Of this act, at
which election. at least of the corporators
aforesaid shall preside, and all votes shall be
by ballot; each stockholder shall be entitled to
pne vote on each share he may own; stockhol-
lers may voteby proxy, under such regulations
as may be prescribed in the by laws of such
Company and all elections after the first, shall
be held on the second Monday in January, an
nually, at such place as the directors shall ap.
point, at the time and place of holding which
annual election, at least thirty days notice
shall be given by the president, in the manner
prescribed in the ninth section of this act; Pro-
vided, however, that it shall and may be lawful
to hold an election at any other time, on notice
being given as aforesaid.
Sec. 80. Tha. the directors, when elected as
provided in the preceding sec., shall each take
an oath or affirmation, diligently and imparti-
ally to discharge the duties of his office; and
the directors, or majority of them, when thus
qualified, shall, on the day Of their election,
or some succeeding day, proceed to elect a
president from their number; and the president
and directors shall hold their offices for one
year, and until their successors are chosen and
qualified, fa 4
Sec. 81 That the president and directors
shall, in all cases, manage the concerns Of the
company; appoint such officers and agents as
may be necessary; fill all vacancies which may
happen in their body, until the next annual
election; make bylaws for the regulation and
government of the company; they may require
SUN Vaen u aiir'la.,oh, u ai vi tne agehts
VI ssiu oonHany' as tnel may tninA u, hecessary;
anu h,ay can sPsciai hlee1ibgSe ei the stocknoi,
ueis' Aeep Iecorus oi al tne transactions oi
sa!u :. company; anu 90 all other matters ana
Ininss C1uch,iiS tie CONCERNS oi salu company
coSeeniPoa'ea n nj IN tnls act.
osc' o~' inae any sucn turnpike or piank
.oei .o.. ooi1 Pauy, VI tleu aSehVs' sIan nave
Ilsns ~ ray out, locatc' survey, dnu MAKE lhe
sILnPiAe oI Pi''nA load, ior tne making OF
,,.a': mon suoh oo.npahy snaii pe ihcorPoIaseu,
sn'VSsh any inpivyeu vi uhI'nProseu lands,
on !ne uess ioute oe.wesh the points or places
o',S aaia ~ -. ene cel'inca.e' coh'rac.'ng !or
.,. uuu paying snc owner ~ or owners over whicn
a ene ioau may pass, Ine damages Done TO SAD
srounu ga py .y ou. anu making sucn roao,
suu M 10, conslructlng OF rePaifing the
same anu wnen tne saia corpoiaslon' ana tne
owner ~ u ownets' canno5 agree as 70 tne amount
=, !, ss. umPellsauou, OF ~nero ehe owner Is un-
snown Nh ol lncaPaole 0. conTact,ng' then sucn
ualhaseS 70 W 9e ussessea ana Psiu IN such man
ner az sraii nn @ De Prescriped py law.
oec. 90: inae any company heretofore IN
eorPoiaeo, ior the purpose q constructing
eulnPlke roaa, may cchstruct sald roaa in any
par, eneieol, oy covering the same win piank,
nos iess .na, 'wo anu ia ihcnes tnick, OF SUI
hc,ene wiutn lot .ne accomIn9aation Oh teams,
anu y N gooa anu sups.ahCai manner, Instead
Vi sosea.ns Vhy same wien ssone or grave.