Meigs County telegraph. [volume] (Pomeroy [Ohio]) 1848-1859, 1854-02-14

dividend shall at oil times be equal; lha: is
10 say The same per cenium on The stock of
each company shall be made by the concur.
rent action OF The TWO Boards Of Directors.
No dividend ever 10 be made by either COM
pany wiihou. ike dividend by the other
company; and after paying such dividend.
the surplus; ifahy, shalt be divided between
the Two companies, or'o,herwise disposed of
as The two Boards Of Directors shall from
time 10 time, bv concurrent action, order and
direct; provided that said surplus fund shall
always be equilably divided between said
Two companies. .as'1gsl Ua aaH atI
ART. 9Th. The machinery, cars, rolling
stock aad equipments now owned by either
company, FOR the purpose Of working either
of said roads, iogerher with such improve
ments and addiliohs as shall lbe hereafter
made thereto, shall be held in coinmon in
the proportion hereinafter stated, each com.
pany being charged with It's pfoporionate
interest, acquired by this agreement, in the
machinery, cars, rolling stock and equip
menls OF The ether, to be accounted and paid
for as other Indebtedness, and for the pur.
pose Of ascerianing the proporIionaie inter
est of each company. therein, the value
thereof, as The same shall be al The time of
the ,aking effect of his contract, shall be
asceriained by an estimate 10 be made by
ihe Joint commiuee herenbelore provided.
and, il they cannot agree, by such umpire
as they may choose for The purpose, and all
future purchases Of machinery, cars, rolling
stock and equipments, for sid railroads. or
either Of them, shall be made aud held by
said companies in common, and the basis
for the ownership Of all such equipments Of
the TWO roads, and olher movable properly,
held and used jointly for the use and work.
ing Of the roads, shall be determined by
adding TO the capital stock OF each raiIroad
company, its debts, deducling .herefrnm the
cash on hand and the credits, and the sum
of The Two capitals, SD ascerlained, shal! form
the said basis, and the interest OF each COM
pany in The said equipments and mnvenble
properly shall bo in The ratio which their
resppclioe values, ascerained as above, shul|
bear to The total sum, and such basis shal! lie
determined once in each year until said roads
are completed.
ART. 7,h. No Real Estate shall be pur-
chased, nor construction account increased
nor contract or deb, created by either conf
pany, other than for wnrks already under
contract, or such as may be necessary for
The completion Of the Two lines of road, as
hereinbsiore provided for, or for working
The roads, or for repairs, without The consent
of the Board oi Directors of The respective
parties hereto. and neither company shall
issue any Stockton less Than the par value
thereof, or accept in paymen; therefor any
thing other than cnsh obligations. wilEou
The concurrence OF both Boards Of Directors
and no subscriptions Of stock in either com.
pany shall be accepted, which are no, pay.
able in full in cash, without the concurrence
of both Boards of Directors.
ART. 8lh. All earnings and incomes o
each road, whether from the transportation
of freight and passengers, or from mail ser
vice, or from rents of houses, lands, rra
estate, franchises or from my other source
whatever, whether The same arise unde
contracts now made or hereafter 10 be mode
> with other roads running in connection o
! run by either for pay, and all oIherincome
arising and uccruing from any oIher railroad
OF stock therein 10 either Of these two con
tracing parties shall be added to and 60 II
make up the gross earnings Of the said roads
ART. OH From and after said first da,
of February, 1854. the commencement @
the fiscal year, under this agreement, all tn
stock in either Company shall bear inleres
a, The role Of (8) eight per cent. per annum
PAYABLE in stock un,il said companies sha
0 resolve 10 pay cash dividends, the evidenc
Of which shall be endorsed on the back c
. each certificate by the proper officer,
!. ART. 10. All the resources, credits. bond.
u mortgages real estate aud subscriptions, I
the capital stock Of each company, and al
e other property except The earnings and proF
e ery hereinbefore provided for Of each con
b pany, is to be faithfully applied TO and es
h pended in The construction, completion, an
o equipment Of the respective lines Of ron
d owning The same, and The necessary slruc
g lures and works apperaining 10 them.
n ART. H. TIE Marie,ta and Cincnna
:. Railroad Company in consideration Of tn
II foregoing contract, and 10 aid in carrying
Ii Out. hereby agree 10 subscribe 10 the capil'
l. stock Of the HIlsborough and CincinnO
s. Railroad Company The sum Of ($250 00(
e Two hundred and fifty thousand dollars. pa!
able on the call Of the Board Of Director
Q not exceeding ($lo,ooo) ten thousand do
I, lars each month.
e ART. l2. This agreement, If adopted
'e the respective Boards Of Directors, and a
l. proved by the holders of two thirds of Il
oI stock Of each company, voting al meeting
D. OF the stockholders called by the reSpecIi,
= boards Of directors for the consideration AZ
L. approval Of said contract, shall ihereup.
" take effec, and be In force.
h. In testimony whereof then the Marier
], and Cincinnati Railroad and The flilsbor
Il. and Cincinnati Railroad Companies. par,i
s' here.o. have respectively caused the sigu
es lures Of their respective Presidents and 81
nj re,aries, and the respective corporule Sci
o, OF said companies 10 be hereto affixed.
TO J.W. TRlMBLE, Prest.
he D. ]. FALLS, Sec'y, L. S |
a' Last week we published an article On
=, subject Of our road from The Cncinn
D. los, .,,o .,,,,1 r.,.,