The Jackson standard. [volume] (Jackson C.H., Ohio) 1847-1888, 1853-09-29
hAiLhoAf1 CoNsOLIOATIOE. /.

cinnati and Marietta and Cincinnati Rail-
road, has been placed in our hands for
publication.
This Agreement made this the sixth
day of September, A. d. eighteen hun
dred and fiily.three, between the Mari.
eta and Cincinnati Railroad Company,
and the Hillsborough and Cincinnati
Railroad Company. Corporations created
by the Laws OF the State Of Ohio, Wit
NEssETH,
That the said two Railroad Corpora.
tions do hereby agree. each with The other,
10 consolidate themselves into single
Corporation, under the name of the Ma
rie,ta and Cincinnati Railroad Company,
upon the terms and considerations here
mater stated.
The capital stock of the said two com.
panies shall be merged into one common
stock, and all their rights and interests in
and TO every species of property real,
personal. and mixed and things in action,
shall become one common property oi
the new corporation.
The capital stock of the new corpora
ton formed by such consolidation. shall
be eleven million dollars, which shall be
divided into shares OF fifty dollars each.
The shares of capital stock in each Of
said two corporations, shall be converted
into shares of capital stock in such new
corporation, by surrendering to the new
corporation the certificates of old stock,
and issuing new certificates for the like
amount. Upon such consolidation, the
person or persons or corporation owning
shares Of old stock, shall become the
owner of the same number OF shares o
The capital stock in the new corporation,
and upon the surrender of the old stock,
the new corporation shall, at once, issue
to the proper party its certificate for such
new stock.
All stockholders in either of the two
corporations, parties 10 this agreement,
who shall refuse 10 convert their stock
into the stock of such new corporation,
shall, if they shall so require previous to
sucn consolidation being consummated,
be paid par value for each ofthe shares so
held by them. One half Of such payment,
with interest thereon, shall be paid in one
year and the other half, with interest
thereon, in two years from the time the
consolidation of said companies is per-
fected All stockholders who shall not
refuse to convert their old stock into stock
Of such new corporation, and shall not.
prior to such consolidation being con.
summated, require payment for the same,
as above mentioned, shall not have the
right to make such requirement after
wards, but shall be entitled TO the same
number of shares of the stock in the new
corporation as they hold of the old stock,
for which new stock upon the surrender
of the old, said new corporation shall
issue 10 them its proper certificate.
The number oil Directors for such new
corporation. shall be thirteen. On Mon.
day the twenty-fourth day Of October next,
at l2 o'clock midday, after the two cor.
porations, parties hereto, SHALL in confor.
nifty with the law for the consolidation of
Railroad companies, be merged and con.
solidated into the new corporation provi.
ded for in this agreement, the stockhold.
ers OF such new corporation shall hold a
meeting at the Burnet House in the City
of Cincinnati, for the purpose of choosing
Directors for the same, 10 continue in OF.
fee for the term Of one year, and until
others are duly elected in their stead.-
Not less than thirty days previous notice
of such meeting shall be given in newspa
pers published in the city of Chilioothe
and the town of Hlllsborough. At the
time and place appointed, thirteen Direc.
tors shall be chosen by ballot by such of
the stockholders as shall attend for that
purpose, either in person or by proxy
Each share oil the capital stock shall en-.
title the owner TO one vote, and ma lorly
Of all votes given shall be Necessary for
choice. Three persons present at such
meeting. shall be selected as Judges OF
the election, and shall certify under their
hands, what persons are elected Direc.
tors. The stockholders OF such meeting
shall appoint the lime and place of holding
the first meeting OF such Directors.
A majority of the Directors shall form
q Board, and be competent to transact all
business Of such new corporation. A
new election for Directors shall be held
annually, at such time and place as the
stockholders at their first meeting shall
determine, or as the bylaws of such cor.
poralion may require. The Directors
chosen at any election, shall, 50 soon
thereafter, as may be convenient, choose
out of their number one person to be Pre-.
Sident, and one to be Treasurer OF the
corporation.
When said new corporation is organ.
ized, it shall continue in operation and
transact It's business in accordance with
the laws applicable to the same, and the
terms and conditions herein stated. 1t
shall proceed to construct lis road as fol.
lows: The two lines Of road OF the said
Two companies, parties TO this agreement,
shall be constructed as simultaneously as
practicable, and they shall be united upon
the west, at or near the town Of Banches.
ter, in the county of Clinton, East oil
IIllsborough, to which point The present
line OF road is TO be maintained, the loca.
ted line OF the Hillsborough and Cincin.
natl Railroad company is adop,ed-and
the work On the same is to be rapidly
prosecuted through Hlllsborough and
Piketon as far as Jackson, in Jackson
county, and the road, and work on the
same, are to be continued Immediately,
eastward Of Jackson, so as TO make