The Perrysburg journal. [volume] (Perrysburg, Ohio) 1853-1861, 1856-08-07
Aprll5 1856
AN ACT

To anthor zs the consolidation Of railroad compa-
nies IN this state with railroad compsnies OF
states adjoining in certain cases, AID 20 author
ise railroad companies in this state to extend
their roads into adjoining states.
SEcrIoN l. Be it enacted by the neral As
scmbIy Of the State of Ohio, That it shall be
lawful for any railroad company in this state or
gained uuder the general or any special law, or
which may hereafter bs orgal iSed In this state and
whose line Of Dad shall te made or in the process
VI construction to the boundary line of the state
or 10 any point either in out Of this state to con
eulidate its capital stock with the capital stock Of
any railroad IN adjoining state, the line Of
whose road has boed made OF Is in process OF con.
strIctidn to the same point aud where the several
roads unite as to form continuous line for the
passage OF cars Provided that roads inning to
The bank Of auy river which is not bidged shall
be held u be continuous under this act
Sto ,. II at sard consolidation shall be made
under the conditions aud restrictions following
that is 70 say,
First. Z he directors Of the several corporations
may enter into joint az eemelt under he cOrpo
rate seal OF each company for the consolidation OF
said companies, and prescribing he terms and con-
ditous thereof the mode Ol carrying the same IN
TO effect the name OF the new corporation the
humber OF the directors and other officers thereof,
an their place Of residence the number Of shares
OF the capital stock the amount of each share :;
aud the manner Of converting the capital stock OF
each Of the said companies into that of the new
corporation, with such other detIils hey shall
s
and the onsolldation of sail companies
Second Said agreement shall be submitted to
the stockholders of each Of said computes, at
meeting thereof, called separately for the purpose
of taking the same into consideration, due notice
of the time and place of holding such meeting, and
the object thereof, shall he given by written or
printed notices, addressed to each Of the persons
10 whose uame the capital stock OF said companies
stands the books thereof, and also by n ike no
tice polished in some newspaper in the city or
town where such company has It's principal office
place Of business. And at said meeting Of stock
holders the agreement of said directors shall be
considered, and vote, by ballot, taken for The
adoption UI rejection of the same, each share en-
tirltlg the holder thereof to vote aud the bal
lots '-s be cast in person or by PROXY and II two
'htts Of all .he votes of the stockholders shall he
for The adoption of said agreement then that fact
shall be csrj,ird thereon by the secretir, OF each
cistld companies, and the agreement so adopted,
r- cert hed copy thereof, shall be ed in the Of
tys Of The secretary Of stale, and shall be deemed
aud taken 20 tr he agreement AID act Of conso l.
a7'lou Ut SAID companies And copy OF said
~ .atur and .ct of cOnso!idatioT duly certified
b.. be ec-s,sry Of state, under the great seal of
the state afU4io hall be evidence OF the existence
@. said goypuftti II.
SIC g. Upon making and peri citing the agree
rlen. and act a' provided in the r1ceding section
aid fling the same a copy wi the secretary of
stte, lAe several the several corporations parties
thereto sGs be deemed and taken to be one cor
prr4.i1n, possessing within this state all the
rights, privileges aud franchises aud subject to all
the restrictions, disabilities and duties Of such
corporation Of this state so consolidated.
Sac. 4. 1t shall he tie duty of the stockholders,
at the meeting called to take into cOnsderati on
SAID agreement as herembefure provide d, after the
adoption Of the same, 10 appoint time and place
for the election of the directors aud other officers
of the new corporation, which may be prov lded for
IN said agreement, notice whereof shall be given
by the secretary of each Of said companies in some
newspaper printed at he place of the principal Of
fee If each Of said companies of the time and
place 0f said election, at least three weeks preyi-
ous thereto, which election shall be conducted in
the SANE manner that may be prescribed by said
meeting of stockholders.
SIC s. Upon the election of the first board of
dire of he corporation created by said az rec
ment If consolidation, and by the provisions of
this at, all aud sngu arly the rights, privileges
and franchises of each of said corporations, par
ties Of the same and all the property, real person
al and mixed, aud debts due on account OF sub
scriptons of stock or other things in action shall
be dee med 10 be transferred and vested in such
new corporation without fuIther aci or deed and
all propty, all rights Of way and all other interests
shall be as etfeclually the property of the new
poratlon as they were of the former corporations
parties to said agreement; and the tile 10 real
estate, either by deed gift grant, or by appropri.
atIOus under the laws OF this state, shall not be
deemed to revert or be impaired by reason of this
act Provide !, that all rights Of creditors, and all
liens upon the property of either of said Corpora
tlOns. shall be preserved uuimpaired, and the re
spective corporations, nay be deemed 10 be in ex
istence TO .eserye the same and all debts labi,
rties and duties of either Of said companies, shall
thenceiOuh attach to said new cooperation and b,
enforced against 1t to the same extent as if said
debts, liabilities and duties, had been contracted
by it.
SIC. 6. Such new co nplny shall as coon as col
Vsnieut after such consolidation establish prn
Cpal uiiice at some point in this state the line
uI its road, ano change the same a pleasure giv
ing pu'li" notice III some newspaper Of such estab
LsumenL or change.
Sac. 7. Suits may he brought aud uain,pinec
against such new company in the courts of th
STATE i0r all causes OF action in the same name
a. against ot'er railroad companies in this state
SIC. 3. That portion OF the road of su b con-
b1iidated company in this state, and all it's rea
and personal property shall be listed for taxation
and taxed IN The same manner as the roaa anC
properly Of other railroad compan rs in thi, state
% astertain the proportion Of the rolling machin
cry subject 10 taxation IN this state the officer st
lug the some, shall astdetaiu the value of all tn
rolling machinery Of such company, and fgIurn.
sum brarlrg the same proportion to the value q
ihe whole that the length Of the liae Of such roa
within This state bears TO the length Of The Who'll
line.
sEo 9 That any railroad coupany row organ
ized, or "h ch may hereafter be organ ze1 in tbi
state, for lie purpose of cor sruc lug railroad
the boundary line Of this -tate shall b. authorize
20 extend Tvs road into AMI through any adiuinrn
state uLd-r tn regulation, which may be- pTescril
"a b. such adjoining ate aud the rig Is, power
and pTivi! ges Of sIch company ovCI such exten
sluu IA obstruction aud Tee Of such road in col
irohng he properly AMI applying money and a!
sets thereon, shall br the sam Rs II said road ha
been built wholly vi hin this state.
oEc. 40 Any s,O' khU.lyr shall rluse to cor
vrt bic stock Of lie ron- odoled npany, sh
g. 11ia a- highest markt xalu- Of such ST, c
- 11f 'int within n.hs next preced n
SIS d.ne OF tie mah'G2 u. such aGrermnUt Il
consideration us '-e a.t.~ OF, if previous