The weekly Minnesotian., 1854-02-25
THE MINI TIA N
Saint paul. saturtas, trtruarg rs. 1851.


Tss "M,..ss.sa North -w..s.r. R.ilsv.d Com.
pany." a.
Abi1 to incorporate company bearing the
shsve title Is before our Legislature at the time
We write. Perhspsit viii have become q law,
or met With some other disposition before this
reaches she cyc'of the public but we nevcr.he-
less feel disposed to express our views upon
measure Of such vital Importance to the inter-
ests OF Minnesota The following is a brief alb
stract Of the feading features of the BILL as
amended in committee of the whole in the Coun-
Gil ON Wednesday further amended by select
committee, and reported back to that body on
Thursday morning, with q unanimous recon-
mendation ofits passage -
Section one Incorporates Robert Schuyler,
William T. Burrall, Geo. L. Schuyler, Morris
ketchum, Edward Bement, Il. B. Mason, and
Geo. W. Billings, Of the city Of New York :;
ErastasCcraing, of the city Of Albany John N.
Forbes, Curtis B. Raymond, and John Gardner,
OF the city Of Boston Wyman B. s. Moore, of
the city of Bangor; Frederic S. Jesup, of the
city Of Dubuque; and F. Steele, C. W. Borup,
O. Walker, Alex. Wilkin, W. A. German, Alex.
Ramsey, aud Jas. Stinson, of the Territory OF
Minnesota, into Railroad Company under the
title above designated.
Section two prescribes the time and place of
meeting Of the corporators, and provides that
at the first meeting at which majority is pre-
sent, the charter shall be accepted or rejected,
and II accepted, notice thereof is to be given
the Governor Of Minnesota.
Section !hree provides that books for sub
script:on shall be opened in the city of New
York, as soon after the acceptance of the char
ter as proper notice can be given, and within
thirty days after sl,OOO,OoO is subscribed. the
stockholders shall proceed to elect therefrom
twelve directors. " who shall be citizens of the
United States of America - said directors shall
proceed to organize within thirty days after
they are chosen.
Sections four and five prescribe the term Of
ONCE Of the directors, and provide for other in
ternal regulations for the practical government
OF the company also that the Board shall hold
Its meetings in the city of New York.
Section six establishes the capital of the com.
pany at $l0,000,O0O, with power to increase as
exigencies may require and also provides fo,
the nlling up Of subscriptions to the capital
stock, by opening books in the cities of New
fork, st. Paul and London, at such times as
the board OF directors shall appoint.
Section seven authorizes the company "a
construct road " from Fond da Lac, Minneso.
ia, on Lake Superior, 10y the way of st. Paul
In Minnesota, to point on the northern bound.
ary line Of the State of Iowa..
Section eight gives the right Of way throu gb
the Territory, and grants to the company all
lands that may be donated by Congress for the
construction Of this particular line of road.
Section nine provides legal remedies for ipdi.
vidusls through whose lands the the road NAV
pass.
Section ten authorizes the company to raise
means for building the road by issuing bonds
&c.
Section eleven contains the usual penal
enactmentsfOr the punishment of any one who
may obstruct the road or destroy its property
Section twelve prohibits the company frou
obstructing navigable waters. highways. &c.
Sections thirteen and fourteen provide police
regulations for the government Of persons en-
gagged in operating the road.
section fifteen compels the company, within
certain time, to file maps of their lands and
surveys in the Secretary's office.
Section sixteen eXcmpts the lands of tb,
company from taxation until they are sold o,
leased.
Section seventeen is important, and We cor,
1t entire -
This act and all grants herein contained
shaii be void unless said board of director;
snaii De organized on or before the first day Of
Cc'ooer, one thousand eight hundred and fifty.
iooI unless said company shall construct and
complete at least fifty miles of the track of s,d
main road within three wears after the frm,'
tion OF the first board of directors under tLis
sct, ana the whole of said main road within the
Term oinve years thereafter and the whole O,
tns track oil said main road shall be laid with a
taii not less than sixty pounds per ward and
tne engines and rolling stock Of said road Shall
oe made In all respects equal to those on tbe
oest description OF road in the United States
ana unless said company shall construct and
compete line of telegraph from DUBUQUE te
S'. radi, upon the route Of said road, withir
twenty months after the formation of the firs
BOARD OF directors under this act''
Section eighteen rep,als all former act
winch conflict, provided this scharter is accented
by the corporators.
section nineteen and last declares this to b,
spublc act, dc.
inese are, in BRIEF the essential provisions
OF the bill, as it stood in the Council on Thurs
Gay morning. The charter was FIRST submitted
toour leading citizens and legislators BY Mr.
EDWARD Stimson, of the firm of Jesup & Co.
Dubuque, who, on behalf of the Eastern corpo
rators named in the bill, has visited St. Paul
ana since his sojouru here taken pains to ex
plain to parties in Minnesota, interested in tbi
enterprise. the views of those Eastern gentle
men touching the same. Mr.. S. has been plai,
and dstraight3orward in his intercourse with on
citizens, and has sought to exercise none otbc
than proper and legitimate influence. in snb
mitting to the people of Minnesota and tbei
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