The Kalida venture. [volume] (Kalida, Ohio) 1841-1865, 1853-03-04
AN ACT


" luSOlpO lIN uhd AAiNhi
Rail Road Company,
Sec. !. Re It enacted by the General Assembly oi
the State Of Ohio, That Peter Odlen, John Rench
-homas J. $. Smith, D. Phillips, Edward w. Davies
ard Henry stoddnrd, Of MONTGOMERY county; William
Barbee, john G. leIford Henry w. Culhorston
John Clark, Thomas Jay: Iosepn Pearson, Joseph
Walkup, Samuel Davis, David Hunter, Moses G
Michel ,nnd Edward H. Barton, Of Miami county
John Mills, Jshh w. Cary, james McCulloch, and
Hugh Thompson of Shelby county, and their hssoci'
aes md assighs lie, and they are hereby created a
body corporate and polite, by the name of Dayton
and Michigan Railroad Company with perpetual sue.
ccSsion, ami by tlat name and Style shall be ehitled
TO nave ana ENJOY, and hereby are invested With a
tie rights, privileges and franchises and he subject 10
all restrictions of the act entitled "An act regulating
Railroad Companies" passed February TN, ls48,
and the acts nmendatory thereto except so far as the
same may be modified by the provisions of this act.
Sec TEat the capital stock of said company
shall be eight hundred thousand dollnrs with the
Power TO incrense the same to three Millions divided
into slnres offfty dollars each.
Secs Said compGny shall have power to construct
railroad commencing at or nenr Dayton in Mont.
gomery county, by the way of Sidney, In Shelby
County, Lima, in Allen, county, Toledo, in Lucas
county to the most eligible point on the Michigan
State line, in the direction OF Detroit.
Sec A. Said company slnll be, Nh Is hereby ati-
thorznd TO connect at Dayton with any rail-ro I'd
leading to, and terminating in the city OF Cincinnati
or with any railroad that may be hereafter construct
ed nOrtn lfUlfeCllOn Ol lOlcUO III Lucas county.
Sec. 3. The county commissioners OF any county
through or in which hid roud may be located shall
be- and they are hereby authorized to subscribe to the
capital stock of said company, any sum not exceeding
one hundred Thousand dollars, tie corporate authori
ties of Dayton, Troy. Plqua, Sidney, Lima, Perrys.
burg Maumee City and Toledo, shall also be author.
zei to subscribe 10 said railroad any not exceed
ing fifty thousand dollars; and tile trustees of any
township In any county through which said road NAV
he locnted shall he authorized 10 subscribe to the
capital stock of said railroad company, any sum not
exceeding ten thousand dollars and in making such
sui scriptions, and in I'LL matters relating thereto tho
commissioners of counties, corporate authorities OF
said cities and towns and trustees of townships shall
have all the rights, privileges and powers, and he
subject to the restrictions of an act to authorize he
commissioners OF fCnrk county TO subscribe stock in
railroad companies" passed March 3, 1850, so far Ms
the same may be applicable not inconsistent " it'll
tile provisions of this act Provided, that the vote on
the question of subscribing stock of said railroad
connany in any county city town or township as
spring or fall election, by giving twenty days notice
thereof in the manner provided for in the act above
referred to- except modified by this act-And pro-
vlod further. tIat majority of all the voters voting
at such election shall vote for subscription.
Sec 6. That as 500 as the sum offfty thousand
dollars sal have heen subscribed to the stock Of said
railroad company the persons named in the first
tiou of this net OF any five trn, shall ral meet.
fer the govei nment OF said company.
Sec. Z. That the stock which may be subscribed
to said railroad company, shall be payable ut suc
time. and in such nstamens, may he directed by
the board Of directors and shall be transferable n
such manner as they may direct.
Sec. 8. Said company shall have power to sell OF
negotiate tie notes or bonds of the company, issued
by such company, or any notes or bonds of every
other railrond company county, city, town or town
shin. that said company may atany time I'D or wn
at such times and such places-either within or with.
out this State and at such rate and for such prices MS
may he deemed best fitted to advance the interests Of
the company, and ii such bonds OF notes are thus sold
a discount such sale shall be valid in all respects
as iftey were sold at tlelr par value sal! tile
sa lie or negotiation of any such notes bonds he In
validated for any informally in the issuing execution
transfer or sale ofthe same.
Sec. 0. That the Cincinnati, Hamilton and Day
ton rairod company are hereby authorized and EN-
powered to lend its money credit in such amounts
may be deemed e&pedlent to the Dayton and
Michigan railroad company to aid In the construction
of the said road and the extension of the said railroad
to the Mich gan State line, If said company shall N
any time deem said extension expedent-and 70
thispurpose the Cincinnati Hamilton and Dayton rail
road company may guarantee tire payment ofany note
or bonds of such Dayton md Michigan railroad com
pany by the corporate authorities ofany city tow
or by the county commissioners of any county, O
trustees ofany township, for the aid and benefit @
said company, in pursuance of the provisions o
This act and such guarantee shall, be valid an
binding, and the snid Cine einnat Hamilton ard Day
ton railroad company may also hold and own, by
subscription nnd transfer, any number of shares o
the capitol stock of said company.
JOHN +. MORSE,
Speaker of the House of Representatives.
CHARLES G. CONVERS,
Speaker OF the Senate.
March S, 1851.