Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1864-09-20


case no claimant shall appear within six
years from the opening Ofsaid road across
any land, all claims to damages against
said company shall be barred.
SIC. IS. And be it further enacted, That
each and every grant, right, and privilege
herein are so made and given to, and ac=
cepted by, said Northern Pacific Railroad
Company, upon and subject to the follow
ing conditions, namely: That the said
company shall commence the work on
said road within two years from the APP
prevail of this act by the President, and
shall complete not less than fifty miles
per year after the second year, and shall
construct, equip, furnish, and complete
the whole road by the fourth day of July,
ammo Domini eighteen hundred and seven
ty-six.
SEQ. 8. And be it further enacted, That
the United States make the several con-
ditioned grants herein, aud that the said
Northern Pacific Reilroad Company &C
cept the same, upon the further condition
that if the said company make any breach
of the conditions hereof, and allow the
same to continue for upwards of one year,
then, in such case, at any time hereafter,
the United States, by it's Congress, may
do any and all acts and things which may
be needful and necessary to insure speedy
completion of the said road.
SEC. 10. And be it further enacted, That
all people of the United States shall have
the right to subscribe to the stock of the
Northern Pacific Railroad Company until
the whole capital named in this act of in
corporation is taken up, by complying
with the terms of subscription; and no
mortgage or construction bonds shall ever
be issued by said company on said road,
or mortgage, or lein made in any way, ex-
cept by the consent of the Congress of the
United States. i
SEC. IL. And be it further enacted, That
said Northern Pacific railroad, or any
part thereof, shall be post route and a
military road, subject to the use of the
United States, for postal, military, naval,
and all other Government service, and
also subject to such regulations as Con
gress may impose restricting the charges
| for such Government transportation
SEQ. II. And be it further enacted, That
the acceptance of the terms, conditions
and impositiOns of this act by the said
Northern Pacific Railroad Company shall
be signiied in writing under the corporate
seal of said company, duly executed pur
suant to the direction of its board of di-
rectors first had and obtained, which ac--
ceptance shall be made within two years
after the passage of this act, and not af
! forwards, and shall be served on the Presi-
dent of the United States.
SEC. 10. And be it further enacted, That
the directors of said company shall make
an annual report of their proceedings and
expenditures, verified by the affidavits of
the president and at least six of the d.
rectors, and they shall, from time to time,
fix, determine and regulate the fares, tolls
andacharges to be received and paid for
transportation of persons and property on
said road, or any part thereof.
SEC. IA. And be it further enacted, That
the directors chosen in pursuance of the
first section of this act shall, so soon as
may be after their election, elect from
their own number a president and vice
president; and said board of directors
shall, from to time, and so soon as may
be after their election, choose a treasurer
and secretary who shall hold their offices
at the will and pleasure of the board of
the board of directors. The treasurer and
secretary shall give such bonds, with such
security as the said board from time to
time may require. The secretary shall.
before entering upon his duty, be sworn
to the faithful discharge thereof, and said
oath shall be made a matter of record
upon the books of said corporation. No
person shall be "a director of said COM
pany unless he shall be a stakeholder, and
Qlulll6u 10 NOIt LOT directors at the cleo
ton at which he shall be chosen.
SIC. Is. And belt further enacted, That
the president, vice president and direc-
tors shall hold their offices for the period
indicated in the bylaws of said company,
not exceeding three years, respectively,
and until others are chosen in their place
and qualified. In case it shall so happen
that an election of directors shall not be
made on any day appointed by the bylaws
of said company, the corporation shall
not for that excuse be deemed to be dis
solved, but such election may be holden
on any day which shall be appointed by
the directors. The directors, of whom
seven, including the president, shall be
quorum for the transaction of business,
shall have full power to make and pre-
scribe such laws, rules and regulations as
they shall deem needful and proper touch
ing the disposition and management of
the stock, property, estate and effects of
the company, the transfer of shares, the
duties and conduct of their officers and
servants touching the election and meet
ing of the directors, and all matters what
soever which may appertain to the con-
Germs OF said company; and the said board
OF directors may have full power to fill anv
vacancy or vancies that may occur from
any cause or causes from time to time in
che said board. And the said board of
directors shall have power to appoint such
engineers, agents, and subordinates as
may from time to time be necessary to
carry into effect the object of the com
pany, and to do all acts and things touch
ing the location and construction of said
road.
Sec. 16. And be it further enacted, That
it shall be lawful for the directors of said
company to require payment of the sum
of ten per centum cash assessment upon
all subscriptions received of all subscrib-
ers, and the balance thereof at such times
and in such proportions and on such con-