Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1873-01-06
LAWS OF VERMONT, A. d. 1872.
Designated By The Secretary Of State for
publication in tie newspapers.

An act to authorize the formation of
Railroad Corporations, andto regulate
the same.
SEC. /. Any number of persons not
less than twenty-five, majority of them
being inhabitants of this State, may form
a company for the purpose of construct
ing. maintaining and operating rail-
road for public use in the conveyance OF
persons and property, and for that pur-
pose may make and sign articles of asso-
citation in which shall be stated the name
of the company, the places from and to
which the road is to be constructed or
maintained and operated, the length of
such road as near as may be, and the
name of each city, town and county IN
this State, through or into which it is
made or intended to be made; the amount
of the capital stock of the company,
which shall be divided into shares of
one hundred dollars each, and shall not
be less than ten thousand dollars for
every mile of road constructed or propos-
ed to be constructed, and the number of
shares of which said capital stock shall
consist, and the names and places of res
idence of the directors of the company
who shall be chosen from and by the per-
sons subscribing to said articles of associ-
alton, and 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
number of shares of stock he agrees to
take in said company, but no subscriber
shall be bound to pay beyond ten per
centum of the amount of his subscription
until corporation is duly established
under this act. On compliance with the
provisions of section two of this act, said
articles of association may be filed in the
office of the Secretary of the State. who
shall endorse thereon the day when the
same was filed, and shall record the
same in book to be provided and kept
by him in his Office for that purpose ; and
thereupon the persons who have so SUBJ
scribed such articles of association, and
all persons who shall become stockhold-
ers in such company shall be corpora
ton in fact and name, by the name spec
fled in such articles of association, which
name shall be one not in use by any
other railroad corporation in this State
and as such shall have power to have
succession by such corporate name fol-
the period limited in such articles of as
ISOLATION, or perpeuity if no period il
limited in such articles, to sue and b
sued, complain and defend in any cour
of law or equity, to make and use com
mon seal and alter the same at pleasure
to lay out, construct and maintain, 70
public use in the conveyance Of person
and property, railroad on the line an,
route designated or defined in such al
ticles of association, to take, hold, pun
chase, use and convey such real and pei
sonal estated as may be necessary for tn
construction, maintenance and accom-
mediation of such railroad and the sta
tions necessary to accomplish the object
of their incorporation, and as the pul
poses of the corporation shall require
not exceeding the amount, if any, whic
may be limited in such articles of ass
citation or by law, to take and conve
persons and property on such railroa
by the power or force of steam or of an
mails, or by any mechanical power, az
to receive compensation therefor subje
to such regulations as are or may be pr
vided by law to erect and maintain a
necessary and convenient buildings, st
lions, fixtures and machinery for the a
commodation and use of the passenger
freights and business ON or over sui
railroads, to regulate the time and ma
ner in which said passengers and pro
erty shall be transported on such RAJ
road, subject to any regulations viii
are Or may be provided by law to a
point such subordinate officers and agen
as the business of the corporation sh;
require, and to allow them suitat
compensation, and to make bylaws L
inconsistent with any existing law
the management of the property of t
corporation, the regulation of its affai
80 and the transfer of its stock, and for
purposes shall be deemed to be a railro
company or corporation, duly incorp
ated under the authority of this Sta
and as such shall also have all the pc
ers, rights, franchises and privilc!
granted to or vested in railroad comp;
les or corporations by chapter TWEEN
eight of the General Statutes, and g
act or acts passed or to be passed in
dition thereto or in amendment there
and shall be subject to all the duties,
abilities and provisions contained in S
chapter, or in any law of this St;
which may affect or be applicable
railroad companies or corporations.
SEC. g. Such articles of associat
shall not be filed and accorded in
Office of the Secretary of State at Il
five thousand dollars of stock for ey
mile of railroad proposed to be made
subscribed thereto, to the extent of tv
ty miles, and one thousand dollars
every mile thereafter, and ten per
paid thereon in good faith and in
to the directors named in the said
cles of association. nor until there is
dorsed thereon or annexed theret
affidavit made by majority of the
rectors named in said articles, that
amount of stock required by this sec
has been in good faith subscribed,
ten per cent paid in, in cash thereon
aforesaid; and that it is intende
good faith to construct or to mair
and operate the railroad mentione
such articles of association, which al
Wit shall be recorded with the articl
association as aforesaid.
Sec. 8. A copy of any articles q
ISOLATION, and of the affidavit afor
endorsed thereon or annexed there
aforesaid, filed and recorded in the
of the Secretary of State, pursuar
this act, or of the record of such ar
of association and affidavit duly Ger
to be copy by the Secretary of