American citizen. [volume] (Butler, Butler County, Pa.) 1863-1872, 1867-02-27
General Railroad Law.
Tie EiIl as Amended by the Senate
Committee.
Important Changes and Clogs.
Individual Liability Clause Added.

the Standing Committee of the Senate,
on Railroads, 1t being the bill originally
iptrQducod by Mr. Bigham, materially !
amended:
An act to authorize the formation of /
railway corporations
WHEREAS, 1t is desirable to facilitate (
The development of the vast and various
resources of Pennsylvania by the con-
struction of railways to be operated by
steam power under general law, and in |
so doing to protect the interests and prop !
erty of the citizens in any locality where
railways may be constructed under its
powers, from impositions charges aud
fraud in the exercise of the corporate
privileges to them granted; therefore,
SECTION, l. Be Il euacted, &c, That
any number of citizens of Pennsylvania,
(not less than nine, may form a compa-
ny for the purpose Of constructing, man
tanning and operating a railway to be op-
Grated By steam power for public use in
the conveyance of persons and property
and for that purpose may make and sign
articles of association in which shall be
stated the name of the company, the
number of years the same is to continue,
the places from AMI to which the railway
is to be constructed or maintained and
operated, the length of such railway as
near as may be, and the name Of each
county in this State, through and into
which it is made or intended to be made
the amount of the capital stock OF the
company, which shall not be less than it>
teen thousand dollars for every mile Of
railway constructed or proposed to be
constructed, and the number Of shares Of
which said capital stock shall consist, and
the names and places Of residence Of
President, and not less than six nor more
than twelve directors of the company,
who shall manage its affairs for the first
year, and until others are chosen in their
places, each subscriber to such articles of
association, shall subscribe thereto his
name, place of residence and the number
pf shares of stock he agrees to take in
said company; on compliance with the
provisions Of the second section of this
act, such articles of association shall be
acknowledged by at least three of the di-
rcctors, before some officer competent to
take acknowledgment of deeds in the
county where the principal office is de-
signed to be located, and filed in the Of
fee of the Secretary of the Common
wealth, who shall indorse thereon the day
they were filed, and record the same in
book to be provided by him for that
purpose, and thereupon the said articles
of association shall become and be char
ter for the said company, and the persons
who have so subscribed such articles Of
association and all persons who shall be-
come stockholders in such company shall
be corporation by the name specified in
such articles of ASSOCIATION Or charter, and
shall possess the powers and privileges
following, to Wit:
First. To have succession By its corpo-
rate name for the period limited in its ar
ticles Of association.
Second To sue and be sued, complain
and defend in any court of law or equity.
Third To make and use a common
seal, and alter the same at pleasure
Fourth. 10 hold, purchase ana convey
such seal and personal estate, as the pur>
poses of the corporation shall require, not
exceeding the amount needfuI for the
business thereof, and which shall be so
limited in the articles of association.
Fifth. To appoint such subordinate of.
fcers and agents as the business of the
corporation shall require, and allow them
a suitable compensation.
Sixth. To make bylaws not inconsis,
tent with any existing law for the man
agement of its property and regulation Of
its affairs, and for the transfer Of its stock
SEC. 2. Such articles Of association
shall not be fled and recorded in the of
fee of the Secretary of the Common
wealth until at least ten thousand dollars
of stock for every mile of railway pro-
posed to be made is subscribed thereto,
and ten per centum paid thereon in good
faith and in cash to the Directors named
in said articles of association, nor until
there is endorsed thereon or annexed
thereto an affidavit made by at least three
of the directors named in said articles,
that the amount of stock required by
this section has been in good faith sub
SSllbSd, dhu tCll pSl SSutuhi pau III Ndsll
thereon, as aforesaid, and that it is in
tended in good faith to construct and to
maintain and operate the railway mention
ed in such articles Of association, which
affidavit shall be recorded with the arti,
eles of association as aforesaid, and the
stockholders of all corporations organized
under this act shall be individually liza
BILE to the amount of their stock for the
payment of wages of labor, materials fur.
nished. right Of way, properly used and
damages incurred in the construction.
maintenance, and operation of their res,
pective railways that may be due and un>
paid by the company for a period not ex>
ceeding six months.
Provided, That demand for the same
shall be made upon any stakeholder or
stockholders within the six months be.
fore mentioned
Sec. 3. A copy of any article Of asso-
citation filed and recorded in pursuance Of
this act or of the record thereof, with o
copy of the aforesaid endorsed thereon oil
annexed thereto, and certified to be o
copy by the Secretary of this Common.
wealth or his deputy, shall be evidence
of the incorporation of such company