The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1867-04-03
and such as are vested and created by

IL
Henderson Il Nashville Railroad
! Company is hereby authorized and
empowered to construct aud operate
a railroad with single or double track
and necessary side-tracks, turnouts,
switches, and APPENDICES, from the
city Of Henderson, on the Ohio
to the line of the State of Kentucky
and Tennessee, In the direction of
Nashville, in Tennessee. The said
railroad to strike the said State line
at such point in the general direction
of the city of Nashville as the Presi-
dent and Directors of the said Com
pany, or a majority of them
may determine. And the said Co.
are authorized and empowered to pur-.
chase from any Railroad Co., person
or persons, any railroad, track, road
bed, right of way, rails, and other
material and franchises necessary to
construct the said road and may make
any contracts for running and operat-
| ing their road Jointly with any other
road that the President and Board of
directors may deem proper and ncces-
sary. That the said Company are au-
thorized and empowered to receive
from the State of Indiana, any and all
necessary franchises, rights and aid,
| to construct road. from some point
| opposite Henderson, In the Safe of
| Kentucky, or from such point as may
be deemed most eligible, as nearly
opposite said town as may be practi-
cable, to the city Of Evansville, in the
State of Indiana; and they are author
lied and empowered to contract with
the State of Tennessee, or any Rail-
road Co, or both, to purchase or run
and operate any railroad in the State
of Tennessee, on such terms as the
contractingp arties may agree.
Sec. 3. Confers upon the Company
authority to sue and be sued and
gives it the usual corporate powers of
Railroad Companies.
Sec. H. The capital stock of the
Evansville, Henderson & Nashville
Railroad Company shall be two mil
lions $4,000, 000) Of dollars, divided
into twenty thousand 100000 shares
of one hundred (Sl00) each, and be
issued and 'transferredin such manner
and upon such conditions as the Board
of Directors by their Bylaws may
direct. The said corporation is au-
thorized to receive subscriptions, or
other aid from any State corporation
and may receive
donationsTg and 7 subscriptions in
land for stock and receive
conveyances for the same, which
may be conveyed and sold by said
Company for the benefit and use of
said Company, as the parties thereto
may "a gree. 3iEs9f0r8t
SEC. 3. The business and affairs of
said corporation shall be managed by
Beard of five Directors, any one Of
whom chosen by a majority shall be
President, all of whom shall be
tockholders. The first Board of
Directors shall consist of George M.
Priest, j. Il. Boyle, e. G.. Sebree,
John P. Campbell, jr., and Dabney o. |
Day, who shall continue in Office one |
year, or until their successors are
elected by a majority in interest of |
the stockholders.
The Board of Directors, or the
stockholders, may fill all vacancies In
the said Board, which happen by |
death, resignation or otherwise, and
may increase the members of the |
Board of Directors to number not |
exceeding nine, and may make calls |
upon subscriptions of stock for pay
ment, as they may deem proper, not
exceeding ten per cent. for every |
thirty days.
Sections 6, Z, and 9 contain the
usual powers granted to such corpor-
ations for the management of the
road, the making of reports, and pre-
scribes the duties of the Directors
and officers. !a.t hal
SEC. 10. The Board of Directors,
or majority of them, by and with |
the assent of the stockholders at any /
general or called meeting, shall have
power and are authorized to borrow
not exceeding two million {$2. 200, 000)
dollars, at an interest not exceeding
eight per cent. per aanum, and may
issue the bonds of the said Company,
to be executed by said officers and in
such manner as the Board of Dircc-
tors specify and direct. and payable at
such times and places as they may or
der; but no bonds or notes shall be
issued to circulate as bank notes; and
they may, pledge and mortgage the
road and any other property owned
by them, including superstructure.
rails, ties, rolling stock, and ali
other property owned by them, Wheth-
er real, personal or mixed, together
with their franchises, rights Of way,
and effects, to secure the payment of
the money SO borrowed, and to rem
der the same effectual, may convey Il
same in trust to such person or per-
sons as they may designate, to be held
i m frusf and sold fo caoura aud navfl