Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1853-12-14
AN ACT
70 Incorporate Tie Mississippi Cs7'ic' AID Tennessee
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Railroad Compng.
l. Be IL eaocspi by Tie General assembly Of the |
STATE of Teanees8 Thtt Milton Brown. John w.
Ca mpbell Thomas Read, Jacob Hill, William H.
Butler. A. w. @. Totten, S. P Hays Edwin Polk
Citizen s. Moods. Isaac R. Hawkins, G. C. Hurt, I
Jno Norman VIM " .IIerron David Green, ar,
II. W. McCorry. Jno Fl. Bills, e. P. McNeal Jas
Wood T. A Puehett David McKinnie, James b.
Harris tleir associates and their successors I'M
der the name and style Of The Mississippi Cen
trail and Tennessee Railroad Company, are hereby
declared to he body, corporate and polite, under
the laws of Teunes see, with succession for five
hundred wears, and common SEAL with capacity,
to have receive, and enjoy, TO them and their sue
cessors property and estate OF whatever nature and
quality and the same to allen transfer and dispose
Of so far as may be necessary to carry into effect
the main object Of this charter which Is hereby de-
clared to be the construction use and maintenance
of Railroad from the South line of the State OF
Tennessee. at the point where the Mississippi Cen
trail Railroad may touch cross the State hne and
passing at or near Bolivar to jackson, and with
mower to extend the road or branches of the road
in the direction of or to Nashville and also TO any
point or points in the direction of or to the Ken
lucky State line.
SIC 2. Be Il enacted, That said Company is here
by declared capable of making all contracts to sue
| and he sued to make bylaws, to appoint officers,
| servants ana agents, W w oil
which may be necessary to carry the business
and object for which said corporation is created
| The said Company is vested with all the powers
necessary for the construction repair and main
1 teuance of said Railroad with as many tracks de-
pots turn outs side tracks, landings, warehouses,
| workshops and appurtenancesas they may find ne
cessary and is authorized to make all works what
ever which may be necessary or expedient for the
proper completion use and utility of said road and
to use the same for profit, and make dividends
| among the stockholders, to procure by purchase,
Gift or release or otherwise such lands and other
| nroperty as may be necessary for the site of said
Railroad or its construction and convenient use, or
for the erection and use of depots, warehouses,
landings bridges or other works connected there
with and as many lateralroads withappurtenances
I connected with said main stem or branches a9they
NAV deem proper, not extending more than fifty
miles from the main stem branches of said road.
SEC g. Be If enacted That the capital stock of
said Company may be two million dollars, or such
other sum as may be necessary to complete the
works authorized by this charter, and that said
COMPANY shall be authorized to open books for the
subscription of shares of fifty dollars $50 each
in the capital stock of said company, at such times
and places, and for such lengths OF time may be
deemed proper and that upon two hundred thous
and dollars having been subscribed as aforesaid, the
Mississippi Central and Tennessee Railroad Com.
pauy shall be regarded as formed, and the subscri
bers to the stock shall form body polite and
porate in deed and inlaw, by the name and for the
purpose aforesaid MANI ..-se
SEC a. Be IL enacted That 80 soon as the Com
pany is formed as aforesaid the affairs of said Com
, pany shall be managed by Board of Directors tc
consist oftweIve, who shall be chosen by the Stock
holders from their own body, anda President o.
the company shall be elected by the Directors from
among their own number, and such other officers
for said Company may be elected by said Director:
as may be deemed necessary and proper. All which
elections NAV be held in such manner and under
such regulations as the Company may prescribe
The Board Of Directors may fill up all vacancie:
which may occur in it, and in the absence of any
officer may FIJI his place by pro TEN appointments
SEC 5. Be 1t enacted That at any tins after the
Mississippi Central and Tennessee Railroad Com
panv shall be organized aforesaid that the Boarc
, of Directors ofsaid Company may unite said Com
. pauy with the Mississippi Central Railroad Com.
pany, chartered by the General Assembly of the
State of Mississippi, and by the agreement of the
Board of Directors of each Of said Companies they
, NAV become united into one board and body cor
/, norate upon such terms and conditions as NAV be
agreed upon, under the name and style of the Mis-
, sissippi Central Railroad Company, or the Missis
sippi Central and Tennessee Railroad Company, a.
/ the Companies, when united, may determine upon
with all the corporate powers rights. privileges anC
immunities, and subject to the same rules, condi
tons and liabilities by this act conferred anC
! imposed on the Mississippi Central and Tennessee
Railroad Company: That upon such union of saiC
; Companies the Stockholders of both roads shall b.
stockholders in common in said road according t
the respective amounts Of their Stock and at tht
first regular election for Directors after such union
the stockholders shall elect one Board Director
for said Company under such rules regulations anC
in such manner as the Company may prescribe.
SEC. 6. Be it enacted, That said Company hereby
created either before after its junction with thu
Mississippi Central Railroad Company as aforesaid
. may unite with any company, and form junction
with any other road at any point on the main stem
or branches of said road extending towards Nash
vile or the Kentucky line, as aforesaid upon thu
same terms, rules conditions and liabilities provide,
in Sec 3 of this charter in reference to the unol
of this Company with the Mississippi Central Rail
road Company.
SEC. Z. Be IT enacted, That the right of way i
hereby granted to said Company to pass in an
through the State of Tennessee with said Road
branches and laterals aforesaid and TO use al
lands rocks, timber, earth, sand, gravel water, o
other materials, which NAV be found on the route
selected and which may belong to the State o
Tennessee and be necessary for the of said road
and also to appropriate and all such land AIT
materials, being private property, may be neces
sary for said road and its appurtenances making jus
compensation for all private property used by con
tract with the parties or by arbitration with them
]
pensation to be made by the Company for the US
of the road, depots DO, then the value shall be as
certained by legal proceedings hereafter prescri
bed.
SEC s. Be it enacted That where any lands O.
right of way may be required by said Company fo
the purpose of consructng their road, and for wan
of agreement as to the value thereof or from any
other cause the same cannot be purchased from tht
owner or owners, the same may be taken at val
uation TO be made by FIVE commissioners or a ma
jority of them to be appointed by the Circuit Cour
of the county where some part of the land or righ
Of way is stuated-the opposite party to have five
days Jtice before the appointment of said com
missioners and the said commissioners before they
act shall severay take an oath before some justice
Oh the Peace faithfully and impartialy to discharge
the duty assigned them. In making said valuation
the commissioners shall allow the actual value of the
land taken by said Company, without any general
or special effect that the actual or contemplated
construction of the road or its location may have
had on said land taken on the surrounding lands
And in all other matters the commissioners shall
take into consideration the losses or damages which
may occur to the owner or owners in consequence
of the land being taken the right of way surren-
dered, and also the benefit and advantage he she,
or they may receive from the erection establish
ment of the railroad or works in any manner what
ever, aud shall state particularly the nature and
amount of each; and the excess of loss and damage
over and above the benefit and advantage shall