Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1871-04-12

necessary 10 Tue -sVuSli uciou, l0 E"si VI
removal RENEWAL of said road. Said
company shall, however, at such time
and in such manner as is provided by
and in this chapter and act, be liable
to pay TIE full value of all earth, grav-
ell, stone, timber and land which may
be so as aforesaid taken, possessed, &C.
cupied and used for any of the purpos-
es aforesaid, which is the private prop
erty Of either persons or corporations,
which value (unless the owner thereof
and said company shall agree as to the
same shall be ascertained and deter
mined in the manner hereinafter pro-
vided and whenever the same shall |
have been paid, rendered or deposited, |
as provided in this act, an estate in and
to all and every such lands in fee sim
pie, absolute forever, shall be and be-
come vested in said company by virtue /
thereof, and of the provisions Of this
act, and by the same means complete
title shall vest in said company in and
to all such earth, gravel, stone and TIM
Der; and whenever said company shall
deem that such property or any part or
portion of such property sha no lon
ger be necessary for the purposes for
which the same were taken it is here
by authorized and empowered, by deed
or Other instrument in writing, to lease
or ssll the same or any part thereof
Sec. 6. On the completion Of said
road or any part Thereof, it shall be law
full for said company, and it is hereby
authorized and empowered, to demand
and and receive such sum or sums of
money for the transportation of persons
and Of property, and for the storage Of
property, as it shall from time to time
deem reasonable.
Sec. Z. Said company hereby crea
ted shall also have full power and au-
thority to transport persons and prop.
erty in boats, vessels, barges and other
water crafts on any of the navigable
waters which its said railroad or roads
may run to or connect with and to re-
ceive and collect reasonable compensa
ton for the same, and for that purpose
may build or purchase, own and use
such boats, vessels, barees and other
water crafts as it may require.
Sec. 8. The company hereby created
shall be capable in law of taking and
holding any land granted to it by the
government of the United States or of
this state, or by individuals or corpo-
rations, to aid in the construction of
lis road, and may also pledge mort
gage or otherwise dispose of all their
rights, title and interest in and to said
lands, and in any other etate, real,
personal and mixed, of which they
may be seized at the time of the exc
cution of such mortgage, or which they
may acquire subsequently, thereto, in
such manner and on such terms as the
directors may think proper.
Seer g.. All the affairs of said com
pany shall be managed by board of
directors, who shall be stock holders,
and who are hereby invested with all
the powers eff the corporation. They
shall be chosen annually by ballot, by
the stockholders, at the annual meet
my OF the company, which shall be
held on such notice and at such time
as shall be prescribed by the by laws,
and at such place as shall be preserib.
ed by the board of directors and sta
ted in such notice. At all meetings
of the stockholders, every stock holder
shall be entitled to one vote for each
share of stock held by him or her, and
may vote in person or by proxy duly
authorized and no business shall be
transacted at any meeting of the stock
holders, unless a majority of the stock
subscribed is represented. In all cleo
tions of directors, those stockholders
equal to the number to be elected, hav
ing the greatest number of votes shall
be deemed and declared duly elected.
The election shall be conducted in such
manner as shall be prescribed by the
bylaws of the company and if from
any cause an election of directors shall
not be had at the time when, by the
provisions Of this act or of the by laws.
1t should be had, the same may be held
at any other time, on notice to be Civ.
en- as aforesaid !; and until such cleo
ton be hid, the directors of the pre-.
ceedlng year shall continue to act, and
the corporation hereby created shall
not forfeit or lose any of its privileges,
franchise or immunities for a less pc.
Rod than ten consecutive years. The
board may at any time increase or d.
mlnlsh the number of directors to be
elected at the next annual meeting of
/ the stockholders, and the number to be
elected shall be specified in the notice
of election, but shall never be less than
tive or more than eleven.
Sec. 10. Il majority of the board of
directors shall constitute quorum for
the transaction of any business. They
shall meet at such times and places
and be convened in such manner as
they shall decide upon. They shall
elect one of their own number to be
president, and one to be vice president
The president shall when present, pre-
side at all meetings of the board and
OF the stock holders, and when absent
the vice president shall discharge the
duties OF president, and when both are
absent the directors may appoint
president pro tenn. The board of d.
rectors shall have power to appoint an
executive committee, and prescribe its
powers and duties; to appoint a secre
tary, treasurer, and such engineers
uperlntentents, agents or other officers
as they may deem necessary and re-
move them at pleasure, prescribe their
duties and compensation and may de-
mand adequate security for the dis
charge of their respective and trusts.
See. IL. The PERSONS pamed in the
first section shall be the first directors.
and shall hold their Offices until tie
fast Wednesday III May, A. D. 1871.
and until others are chosen in their