The Minnesota pioneer. [volume] (St. Paul, Minn. Territory) 1849-1855, 1853-05-26
BY AUTHORITY.

BE II enacted by the Leg1Stdtlre dsssM6ty 0'
The Territory Of Minnesota, That Alexander
Ramsey, II. Nj. Rice, Franklin Steele, Charles
II. Oakes, Alexander WiIkin, Lyman Dayton.
II. H. Sibley, J. r. Irvine, w. q. lie Due, Z.
ID. Fillmore. John G. Lennon, w. r. Marshall,
K. r. Nelson, &. w. B, rup, w. L. Ames, w.
II. C.. Folsom, Orunge Walker, Christopher Carl,
John Mckussick, Elias McKain, J. w. North,
Emanuel Case, r. =. Russell, d. B. Loomis, and
their associates are hereby constituted body
polite and corporate to all inienls and purposes,
by the name of the Mississippi and Lake Superior
Railroad Company, with the power of perpetual
succession, and by that name snail he, and are
hereby made capable IN law to purchase, hod,
enlhy, and retain 10 them and their successors.
lands tenemenis and heredaments, SO far as may
be necessary for the purpose Of said Railroad !;
and the same to sell grant, rent, or IN any man
ner dispose of To contract and be contracted WITH
! to sue and be sued To implead and be nnpieaded,
answer and be answered. defend and be defend
! ed, and also TO make, have and use ConlfDon
seal; the same to alter, break, or renew al their
| pleasure; and if either Of the persons named in
this section shall de refuse, OF neglect 10 execute
the powers, or discharge The duties hereby crea-
ted It shall be the duty of the remaining persons
hereinbefore mentioned, or majority oi them, Ia
appoint suitable person, or persons, 10 bil such
vacancy or vacancies, often as the same shall
occur.
| SEC. 2. The said Corporation are hereby en-
powered to such examination, or survey, to
be made shall be necessary TO ascertain The
most advantageous route whereon 10 construct II
Railroad, a nd shall cause estimate 10 be made
of the probable cost thereof for each mile sepa
ra,ely and the sand Corporation shall be, and the,
are hereby invested with the right TO construct IA
Railroad, with one or more railways. or tracks,
from some convenient poin, in the City of -
nj IN f,at ~ ftlt
Falls OF the ST Louis river ,Ior anywhere between
the Falls and the mouth Of said river, or At any
eligible point upon Lake Superior near the mouth
OF sa I'd river: Prouidsd, That # II be iound nee
essary to cross any portion of Wisconsin, The nee
essary consent and permission Of The Legislature
of that State be frs, obtained.
/ SEC. 3. The Capital Stock of said Corpora
ton shall br three millions Of dollars, which may
be increased TO five mi lions OF dollars, II neces-
sary, and shalt be divided into shares Of one hun
dred each, and FIVE dollars each share shall be
paid at The time Of subscribing.
! SEC A. The above named persons, or ma
joriry Of them, age authorized to open books ios
receiving subscriptions TO the capital Stock OF SAID
Company, and shall prescribe the form Of such
Subscriptions, which books shall be opened on or
before the first of August 4. ID. 1888. at such
place or places as they may deem expedient, by
giving sixty days notice in some new spaper print,
ed IN 81. Paul, and in such other place GF places
may he thought advisable, Of the tlue and
place or times and places, of opening SAID books ::
and sd I'd books 70 be kept open thirty day. or until
one hundred thousand dollars is subscribed.
| SEC. B. So one hundred thousand dol
lars thereof shall have been subscribed, the above
named persons. the same number thereof rs
/ shall have given The notice above required, shall
give like notice for meeting OF the St0ckhodefs
al soipe lime at least hIfiy days iheresi'cr. and
al some place within the City Of ST. Paul and il
at such time and place, the holders of "ne-haf or
more Of said Stock subscribed shall attend either
in person or by lawful proxy, they shall proceed
to choose from the Stockholders, 10y ballot, uine
Directors, each share Of the Capital Stock ent-
ting Tie own thereof TO one vote, and at such
election the persons named IN the first section O!
this act, or those appointed by its provisions to iil
vacancies which mav have occurred, or any three
Of them, If no more be present, shall be InSpec-
tors oi such election, and shall certify IN Wriln g,
signed by them, or majority OF them. What pet
sons are elected Directors; and II two or more
have an equal number of votes, such Inspectors
shall determine by lot, which II them shall be
Directors 10 complete he nutnher requir d, and
shall certify The sdine in like manner, and sucn
inspectors shall appoint the time and place Of
holding the first meeting OF Directors, al whlcd
meeting, FIVE shall form "a Board competent io
transact all business OF the Company; and There
after ii new election shall be made annually al
such time and place as the Stockholders at their
first meeting shall appoint, and il the hrst meet
lag shall fail TO appoint day o! election, hcn the
Directors shall have power TO appoint such time
and place of election IN the ry-laws Of the Com
pnny as shall be agreed upon by them. And II
no election be held al he time appointed the SAID
company shall not he dissolved, but such election
may be had at any time appointed by the by
I t,s,fi
elect one of heir nomber President and stal! ap-
point Secretary. Treasurer, such Engineers and
other officers they may nd necessary, shall fix
then compensation. and may require adequate Sc
curIty for the performance o! tLer respective
trusts.
SEC. 6. The Directors may receive payment
of the subsrript IT'S to the capital STOCK nj such
! times and in such proportion, not exceeding twen-
~ per cent 1T any one instaiuent, under such
conditions they NAV deem III, under the penal
" of the forfeiture of ali the previous paymenis,
or otherwise; Proriiei, hey shall give notice
thereof at least sixty days before the tine Of such
payment, III at least one newspaper published al
the place of payment.
SEC Z The Directors Of 81 i'd Company shall
have power to make from time 10 time, all need
fui rnies, regulations, and bylaws touching the
business Of SAID Company; and to determine the
number of tracks, and railways upon SAID road,
aud the width thereof; and the description of car
riagts which NAV be used thereon; to regulate
the amoun, Of tolls and the manner Of collecting
/ the same; and to direct The mode and coiidn on
of transferring the stock Of said Company, and
the said Company may erect toll-lonses aud such
other fixtures, and buiidi g as the accominoda-
ton Of those using he road may require
SEC. 8. The said Company shall have the
right 10 enter upon any lands, TO survey and lay
down said road, not exceeding one hundred feet
m width; and whenever any lands or materials
shall be required for The construction OF the sad
road, an The same shall not be given or granted
TO the Company, as to the compensation to be
paid therefor, the person persons inlng eeni-
pensation as aforesaid, If The owner or owners
thereof are minors. or insane persons, the guar
dian or guardians Of such minors, or insane per-
son. may select for themselves arbitrator, and
the Company shall select arbitrator, and the
two thus selected shall la ke TO Themselves tlnrd,
Who shall be sworn and paid by said Company,
as arbnrators between the parties /; and reader
pcs of award t. each Of the parties IN writing;
from which award, either Of The parties may ap-
peal to the court Of proper jurisdiction for the