Kenosha telegraph. [volume] (Kenosha, Wis.) 1850-1854, 1853-04-29
AN ACT.
To Incorporate the Reaosha d Beloit r. r.
The peonfo nj The Stote of IIy,s,,ns;,, -o,.o.o,t

To Incorporate the Reaosha d Beloa r. r.
The People ofhe State Of Wisconsin represent
ed in Senate aud assembly do enact as tolIo,cs
Sec. l. That Samuel Hale Alonzo Camp
BELL Charles NJ. Baker, E. w. Evans, Jo-
siah Bond, George Bennett, Henry B. Hns-
dale, s. I'll. Stafford, Samuel r. McClelland,
S. w. Benson, Joseph. D. Moneill, Jr., L. G.
Fisher, I. H. Fellows, and John Hackett,
shall be and they are hereby appointed com
missioners, under the direction of a MAJORITY
of whom subscriptions may be received to
the capital stock of the Kenosha and Beloit
Rail Road Company hereby Incorporated =
and they may cause books to be opened at
such times and places as they may direct,
for the purpose of receiving subscriptions to
the capital stock of said company, first Civ
ing thirty days notice of the time and places,
by publishing the same weekly in some pub
lie newspaper printed in the counties of Ke-
nosha Walworth, and Rock.
Sec. 2. The capital stock of said compa-
ny shall be one million dollars, in shares of
one hundred dollars each, aud as soon as
four hundred shares shall have been SUBJ
scribed and five dollars on each share actu-
ally paid in, the subscribers of such stock
with such other persons as shall become as
sociated with them for that purpose, their
successors and assigns shall be and they are
hereby created and declared body corpo-
rate and polite, by the name and style of the
Kenosha and Beloit Rail Road Company
with perpetual succession and shall have and
enjoy all the pryeledges, franchises, and i'm
pou 10 N bnx cboIl
be capable in law ofpurchasing, holding, sell
ling, leasing and conveying estate, either real,
personal, or mixed; they may make, have,
ard use common SEAL and may alter, break
or renew the same at pleasure, and by that
name may sue and be sued, plead and be
implicated, answer and be answered, defend
and be defended, contract and be contracted
WITH and generally may do and perform all
and singular the acts and matters which to
any corporation it shall lawfully appertain to
do and perform for the we'll being of the
said corporation.
Sec. 3. The said commissioners, or a ma
jority of them, after the said four hundred
shares Of stock shall have been subscrbed,as
aforesaid, shall close the books of subscrip-
ton, and shall give at least thirty days no
tice in the newspapers therefore, mentioned,
of the time and place by them appointed for
the stockholders to meet, for the purpose of
electing thirteen directors and the directors
thus elected shall hold their offices until the
next annual meeting of the stockholders for
the election of directors, and and until other
directors are elected.
Sec. 4. The affairs of said corporation
ban ha Nv OIL g Al, Il
rectors, who shall be stockholders, and who
are hereby invested with all the powers of
the corporation. They shall be chosen an
nually by ballot, at the annual meeting of
the stockholders, which shall be on the fourth
Monday of December in each year, by the
stockholders of said company; on like no.
tice As herein prescribed for the first election
of directors. The votes shall be delivered in
person or by proxy duly authorized, and in
all cases in which stockholders shall vote,
each share of stock shall be entitled to one
vote, and in all elections of directors those
stockholders equal to the number to be cleo
ted, having the greatest number of votes,sha
be deemed and declared duly elected. The
elections shall be conducted in such manner
as shall be prescribed by the bylaws of the
company. If from any cause, an election of
directors shall not be had at the time, when
by the provisions of this act it should be
held, the same may be had at any other time
on thirty days notice to be given as aforesaid
and until such election shall be had, the di-
rectors of the preceding year shall Continue
TO act, and the corporation hereby created
shall not forfeit or lose any of its privileges,
' - L. e
the irregularity or want of such election
The board Of directors may at any time in
crease or diminish the number of directors
to be elected at the next annual meeting of
the stockholders; Provided the number shall
not be less than seven nor more than fifteen;
and in case of such increase or diminution,
| the number to be elected shall be specified
in the notice of election,
SEC. 5. a majority of the board of direc-
tors shall be quorum for the transaction of
| any business, they shall meet at such times
and places, and be convened in such man
ner as they shall decide upon; they shall
elect by ballot one oftheir own number to be
president who shall when present preside at
all meetings of the directors, and when alb
sent, the directors may appoint a president
pro tenn. The said directors shall appoint a
secretary, treasurer and such engineers SUI
perintendents, agents and other officers as
they may find necessary; fix their compen-
sation, and may demand adequate security
for the performance of their respective duties
and trusts; and may fill any vacancy which
may occur in their own board; the directors
shall haze power to reopen the books for
subscriptions to the capital stock of the COM
pany, or open new books under their own di-
rection or the direction of a majority of them
or under the direction of such person or per-
sons as they may designate; they shall pre-
scribe the time, manner and proportions in
which the said stockholders shall pay the
money due on their respective shares, and to
| forfeit to the use of the company the share
or shares of persons failing to pay any in
stalment so required; TO regulate tolls, and
charges for the transport alton of freight and
passengers; to make such covenants, con-