, 1857-02-06

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Of and maintainance Of the said rail road,
its depots, water stations, side tracks, ma
chine shops, engine houses and buildings, all
appendages necessary to the construction and
working Of the said railroad Prorided, that
all lands or real estate entered upon, taken
possession Of and used by said company for
the purpose and accommodation of said rail
road, or upon which the aforesaid rail road
shall have been located or determined by the
said corporation, shall be paid for by said
company in damages, Il any be sustained by
the owner or owners thereof by the use OF
the same for the purposes Of said rail road,
and oil lands entered upon and taken for the
use Of said corporation which are not devoted
TO said corporation, at such prices as may be
mutually agreed upon by said corporation and
the owners Of said lands or real estate; and
in case Of disagreement, the price shall be
estimated, fixed, and recovered in the man
ner provided for taking lands for the con-
struction Of public roads, canals or other pub
lie works.
Sec. S. The time of holding the annual
meeting Of said company for the election Of
directors shall be 6xed and determined by
the bylaws of said company, and at all NEE
tings such stockholders shall be entitled to
vote, in person or lawful proxy, one vote for
each share Of stock he, she, or they may hold
bona hde, in said company, upon which all
installments called have been paid.
Sec. 6. The persons named y the first
section Of this act are hereby appointed com
IDissioners, who, or amajority Of whom, after
meeting duly called by thirty days notice
in newspaper published at Olympia are
hereby authorized to open subscription books
for said stock, at such places as they may
deem proper, and shall keep such books open
until one hundred and fifty thousand dollars
Of said capital stock shall be taken. Said
commissioners shall require each subscriber to
pay FIVE dollars on each share subscribed at
the time Of subscribing. Said commissioners
shall Immediately thereafter call a meeting Of
the stockholders, by giving thirty days notice
in such newspapers as may be deemed neces-
sary, and at such meeting it shall be lawful
to elect the directors Of said company, and
when the directors of said company are cho-
sen, the said commissioners shall deliver said
subscription books, with the sums of money
Ieceived by them as commissioners, to said
directors. No person shall be director in
said company unless he shall own at least one
share Of the capital stock.
Sec. I. That the right Of and the real es-
tate purchased for the right Of way by said
company, whether by mutual agreement or
otherwise, or shall become the property of the
company by operation Of law, as in this act
provided, shall, upon the payment Of the
amount Of money belonging to the owner or
owners Of said lands as q compensation Of the
same, become the property Of said company
in fee simple.
Sec. 8. The corporation may take and
transport on said rail road any person or
persons, merchandise or other property, by
the force and power of steam or animals, or
any combination of them; may fix and estab-
lish, and receive such rates Of toll for all pas
sengers and property transported upon the
same as the said directors shall establish.
The directors are hereby authorized and en-
powered to make all necessary rules and by
laws, regulations or ordinances that they may
deem necessary aud expedient to accomplish
into effect the provisions Of this act, and fur
ther transfer assignments Of the stock, which
is hereby declared personal property and
transferable in such manner as shall be pro-
vided by the bylaws of the said company.
Sec. o. The directors of said company, af.
ter the same is organized, shall have power
to open books in the manner prescribed in the
sixth section Of this act, to fill up the add
tlonal capital stock, or any part thereof, at
such times as they may deem it for the inter.
est of tho said company and all instalments
: required to be paid on the stock originally to
be taken, aud what may be taken to increase
the said capital, shall be paid at such times
and in such sums as the directors may pre-.
scribe.
Sec. 10. Iu case of the death or resigna-
ton of the president or vice president, or
any director, at any time between the annual
election, such vacancies may be filed for the
remainder of the year, whenever they may
happen, by the board of directors and in
!. case Of absense Of the president and vice
president, the board of directors shall have
power to appoint president, or vice presi-
dent pro teAR., who shall have and execute
. such powers aud functions as the bylaws Of
said corporation may provide. In case it
should at any time happen that an election
shall not be made on any day, in pursuance
of this act, it shall not invalidate such cleo
ton, and the corporation for that cause shall
not be deemed dissovled, but such election
shall be held at any other time, as directed
by the bylaws of said corporation.
Sec, IL. Said company shall have power
to unite its rail road with any other rail road
now constructed or which may hereafter be
constructed at either termin, or at any point
at which it may cross the same within this
Territory, upon such terms as may be mutu-
ally agreed upon between said rail road cor
poratous so connecting; and for that purpose
tuil power is hereby given to said company
to make and execute such contract with any
: other company that may secure the objects
OF such connection Prorided that no cars
! shall run upon the line or track of the road
D constructed by the company hereby incorpO.