Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1871-01-12


holder shall have the right to vote, In person
or by proxy, for the number OF shares of stock
owned by him. for as many persons as there
are directors or managers, to be elected, or
TO cumulate said shares, and give one cand-
date as many votes as the number of directors
multiplied by the number of his shares OF
stock, shall equal, OF to distribute them on
the same principle among as many candidates
IS he shall think fit, and such directors or
managers shall not be elected in any other
way.
SEC. 4. The Legislature shall pass no law
granting the right to construct and operate a
street railroad, within any city, town or in
corporated village, without requiring the con-
sent of the local authorities having the control
of the street or highway proposed to be &C.
cupied by such street railroad.
RAILROADS.
SEC. 5. Every railroad corporation organ
lied or doing business in this State, under
the law or authority thereof shall have and
maintain public Office or place in this State
for the transaction of its business, where
transfers of stock shall be made and in which
shall be kept for public inspection, books, in
which shall be recorded the amount of capital
stock subscribed, and by whom, the names of
the owners of its stock, and >the amounts
stock paid in and by whom, the transfer of
said stock. the amount of its assets and La
bifities, and the names and places of residence
of its officers. The directors Of every rail-
road corporation shall annually make report,
under oath, to the Secretary of State, OF all
their acts and doings, which report shall in
clude such matters relating to railroads as
may be prescribed by law. And the Legisla-
ture shall pass laws enforcing by suitable
penalties, the provisions Of this section.
SEC. G.. The rolling and all other
movable property belonging to any railroad
company or corporation in this State. shail
be considered personal property, and shall be
liable to execution and sale in the same man.
ner as the personal property of individuals,
and the Legislature shall pass no law exempt
ing any such property from execution and
sale.
SEc.1. No railroad corporation shall con-
solidate its stock, property or franchise with
any other railroad corporation owning par
allel or competing line, ard in no case shall
any consolidation take place except upon pub
lie notice given, of at least sixty days, to all
stockholders, in such manner as may be pro-
vided by law. majority Of the directors OF
any railroad corporation now incorporated or
hereafter TO be Incorporated by the laws of
this State shall be citizens and residents Of
this State.
SEC. 8. No railroad corporation shall
issue any stock or bonds, except for money,
labor or property actually received and APP
piled to the purposes for which such corpo-
ration was created, and all stock dividends,
and other fictitious increase of the capital
stock or indebtedness of any such corporation,
shall be void.-The capital stock of no rail-
road corporation shall be increased for any
purpose, except upon giving sixty days public
notice, in such manner as may be provided by
law.
SEC. 9. The exercise of the power and the
right of eminent domain shall never be so
construed or abridged as to prevent the
taking by the Legislature, of the property and
franchises of incorporated companies already
organized and subjecting them to the public
necessity the same as of individuals. The
right Of trial by jury shall be held inviolate
in all trials of claims for compensation, when
in the exercise Of the said right of eminent
domain any incorporated company shall be
interested either for Or against the exercise
of said right.
SRc. 10. Railroads heretofore constructed
or that may hereafter be constructed in this
State are hereby declared Public Highways,
and shall be free to ali persons for the trans
portation of their persons and property there
ON, unoer such regulations as may be pre-
scribed by law, and the Legislature SHALL
from time to time, pass laws establishing
reasonable maximum rates OF charges for the
transportation of passengers and freights on
the different railroads in this State.
SEC. IL. The Legislative shall pass laws
to correct abuses and prevent unjust discrimi-
nation and extor;ion in the rates of freights
and passenger tariffs on the different railroads
in this State, and enforce such laws by ade-
quate penalties to the extent, If necessary for
that purpose, of forfeiture of their property
and franchise.
ARTICLE lG.
All Judges of Courts of record, inferior to
the Supreme Court, shall, on or before the
first day of July in each year report in writing
to the Judges of the Supreme Court, such
defects and omissions in the law as their ex-
perience may suggest, and the Judges of the
Supreme Court shall, on or before the first
day Of January of each year, report in writ
ing to the Governor, to be by him presented
to the Legislature, such defects and omissions
in the constitution and laws as they may find
TO exist, together with appropriate forms of
bills to remedy such defect, and omissions.
There is schedule appended providing the
means for the amendments, &c.