Litchfield enquirer., 1871-06-08
WHOLE NO AAO1
THE GENERAL RAILROAD LAW.

THE GENERAL RA1iROADfAW. The Hon. Geo. Pratt of Norwich, nnpear- ed before tho railroad commitfee. .lask .waa1r and presented che following bill for a zen. eral railroad law, which he said ah&d Deem drafted at the request of fprogninentoifieens ln different parts of the State: :s'v e,as
 l. Any number of fpersonss notless than twenty-five, may form company. -sabieok to the provisions of this act and of tbe Ten- eral statutes respecting railroads. agcrs
 2. They may sign articles of association. which shall state the name of the com. pany, the names of towns through which th0road passes, the length of the road and the amount of capital stock (which shall not be less than $20, 900 for every mile of road proposed to be constructed, and the the names and residences of not less than nine directors, majority of whom shall be residents of this State. -
 5. The capital stock shall be divided in. to shares of $100 each. $ asT 5lb44
 4. The articles of association shall moi be filed and recorded lin the office of the 1 Secretary of State) unless accomanied by the report of skilful engineer. founded on an actual examination of the route, showing the character and structure of the proposed road bed, the manner of con- structlon, the profile, cost, etc., nor shall such articles be recorded until at least SlO,OoO of stock for every mile of railroad Is subscribed and ten per cent. paid in cash to the directors, nor unless there is an affidavit made by at least three of the directors that the amount of stock required has been subscribed in good faith and ten per cent. paid in as aforesaid, and a copy of the articles of association so filed and certified shall be pripaa facie evidence of the existence of the corporation. a11S&l
 D. When these articles of association are properly fled the directors may in, ease the whole of the capital stock is not sub- scrlbed, open books of subscription, and at the time of subscribing every subscriber shall pay ten per cent. on the amount sub. scrlbed. and no subscription shall be- re- celved without such payment of ten per cent. Tn cash on subscribing, ''providing such company shall not commence theOon- struction of its road until at least S0O. 900 per mile is subscribed to the stock thereof by responsible persons and ten per cent. paid in." E r s : Had9
 6. The company ''may hold such real estate as may be necessary or convenient for accomplishing the objects of this act" etc., subject to all the statutes which are now or may hereafter be enacted for the government of railroad companies, .sand all the lmmunities, rights, privileges, and powers given in this act shall be enjoyed by the railroad companies at present fex. lstlng in this state, provided the same, do not conflict with the special provision, of any charter" -1 s-5't1n+ -8fg1 esiET ea '. The directors to have po@sad to choose officers, etc., the number of elifeo. tors to be fixed by the stockholders.
 5. The company may, if necessary. in. tersect, cross, or connect with any other railroad, provided that if said conibany snail desire to make any such crossing, in- tersectlon, or connection, it shall first agree with the railroad company it so de. slres to lnterseCt, in reference 10 the plan thereof; but if unable to agree the railroad commissioners shall give hearing and decide, and their action shall be final: pro- vlded that no railroad shall cross 0F inter. sect any other double track, railroad at grade, except for the purpose of making Q connection with it.
 5. The company may make a contract with any other railroad with whose rail. way It's track may connect or interseCt, in relation to its business or property. and may take lease of the property or fran chlse c6ns 0f or lease it's property or franchise A@aaN Ef 2srAn any place or town in this State. ann ann may
 10. Land may be taken as prescribed by the general statutes, but not without the consent of the owner except within twelve months after the approval of the 10. cation by the railroad commissioners.
 Il. In case of an insuficiency ofcapital the company may, by a two thirds con- curlence of the stock represented, increase the capital to the amount required; and the board of directors of any company may, with the assent of the stockholders in. crease the capital stock sufficient to ex. tinguish the funded and floating debt, pro- vided the amount of increase shall not ex oeed the amount of debts. and that the in- creased stock shall only be used to cancel all original amount of debts. st ,-aa
 12. If any company shall not, within one year after it's articles of association are filed, commence the construction of its road, and expend thereon ten per cent. of the amount of subscribed capital, or shall not furnish or put in operation it's rail. road within five years from the time of re- cording its articles of associations it's cor porate existence and powers shall cease.
 13, The powers, rights and franchises formed pursuant to this act may be ale tered, amended, or annulled at tn pleas. ure of the General Assembly. 4tt..