, 1862-05-29

stock, or any part thereof, at such times as they
may deem it for the interest Of said company /;
and all instalments required to be paid on the
stock originally to be taken, and what may be
taken to increase the said capital, shall be paid
at such time and in such sums as the directors
may prescribe
SEc 10. In case Of the death or resignation Of
the President or Vice President, or any director,
at any time between the annual elections, such
vacancies may be filled for the remainder Of the
year, whenever they may happen, by the board
Of directors; and in case Of absence Of the Presi
dent and Vice President, the board Of directors
shall have power to appoint Pre- ident and Vice
President pro tenn, who shall have and execute
such powers and 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 ele ton, and the corpo.
ration for that cause, shall not be dissolved, 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 railroad with any other railroad now
constructed or which may hereafter be construct.
cd at either terminus, or at any point at which
it may cross the same within this Territory, upon
such terms as may be mutually agreed upon be-
tween said railroad corporations So connecting,
and for that purpose full power is hereby given
10 said company to make and execute such con-
tract with any other company that may secure
the object Of such connection; Provided, That
no cars shall run upon the line or track Of the
road constructed by the company hereby incor
porated except at the points Of crossing or inter-
secting the same.
SEC. l2. Said company is hereby authorized
from time TO time to borrow such sum or sums o
money as may be necessary for completing and
furnishing and operating the said railroad, and
to assume and dispose Of he bonds in denomi'
nations Of not less than five hundred dollars,
bearing q rate Of interest not exceeding seven
per centum per annum, for any amount so Dor
rOwed, and mortgage the corporation property
and franchises, or convey the same by deed o.
trust to secure the payment Of any debt contracted
BY said company for the purposes aforesaid, and
the directors Of said company may confer on any
bOndhOlder, Of any bond issued for money 81
aforesaid, the right to convert the principal due
or owing thereon into stock Of said company, at
any time not exceeding ten years from the datG
Of the bond, under such regulations as the direc
tors Of said company may see tit to adopt; and
all sales Of stock bonds that may be made ct les
than par value shall be good and valid and bind
ing upon such corporation as If such bonds hat
bOen sold for the full amount thereof
SEc. IS. This act shall be deemed public act
and shall be iav0rably construed for al purposes
therein expressed ahd declared, in all courts ant
places whatsoever, and shall be in force from ant
amer its passage: PTOUided, said railroad shall b
commenced within three years, and completed
within ten years from the passage Of this act
Passed the Council Jan. 26th, 1862. 'u
Passed the House Jan 26th, 1869.
G (Signed JAS. LEO FEEGUsoN,
l5o Speaker Of the House.
/ eJ U,rff A. R. BURBANK,
a sghia Pres't Of the Council.