The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1873-06-05

SFc. Be it further enacted, That fol-
the purpose OF constructing and putting iu
operation said railroad, the corporation
NAV determine at discretion the amount oil
capital required; and may take up shoscfip-
ton at such times and places, and III such
manner and upon such terms of pay ment
| and within or without the State as such
corporation shall judge most expedient-
SEC. 4. Be it further enacted, That the
| corporate powers of said corporation
shall be exercised and the business
affairs shall be conducted and managed by
a Board of not less than seven Directors,
| four of whom shall constitute quorum !;
/ the persons herein named as eorporators
/ shall he Directors for the first year, and
until Others are elected or appointed 10 MI
| their places: after the expiration OF the
| first wear the Directors shall be elected an
nualiy BY the stockholders of said corpora
| ton. at such time and place as may De
hereafter named and designated IN the by
| laws of said corporation; all Directors
| shall be stockholders, and all elections for
| Directors shall be by ballot, and every
| stockholder shall be entitled to one vote in
person or by proxy for each share OF stock
held or owned by him; that the Directors
OF said corporation at their first meeting,
which shall be within one year after the
passage of this Act, shall elect one of their
number President, and also one OF their
mum Der Vice PresdeN- and shall elect
Secretary and Treasurer of said corpora
ton, who shall give good and sufficient
bond to said company.
SEC B. Be it further enacted, That said
railroad company are hereby authorized
and empowered, in tie construction of their
road. 70 irtersect or cross anv other rail-
road heretofore chartered in this State. or
TO consolidate, by agreement with any
other railroad heretofore chartered in this
State. or to purchase the charter, rights,
franchises. property and effects of any other
company chartered in this State, or to sell
out to any other company and make the
(one) company under the name OF one or
both; but when such purchase Is made or
consolidation is effected the said company
shall have and be entitled to all the bene-
hts, rights, franchises, lands and properly
of every description belonging to said |
road or roads so sold or consolidated.
SEC g. Be it further enacted, That every !
railroad company in this State whose rail |
road shall be intersected or crossed by the /
railroad and branches of this company |
shall unite with it in forming such inter- /
sections or crossings or connections ana /
grant the facilities aforesaid; and II such |
railroad companies cannot agree with this
com pany as to the points and manner of
such intersection or crossings and the df-
visions and apportionment of the expenses
thereof between such companies ana this
company, then the same shall be ascer-
tanned and determined by commissioners, to
be appointed upon the application of either
party, by the Circuit Court of the county
or the Judge in vacation, where such cross
lngs or intersections are made.
SEC. z. Be it further enacted, That said
company shall have fall power and author
lty to lay out, survey, construct, own and
use any branch road running out from the
main line, to any pointin this State and all
the rights, grants, privileges and fran
ehises herein contained shall be held TO APP
ply to any branch of said road, as well as
the main line.
SEC. s. Be it further enacted, That said
may have and hold steam boats or
other water craft for transportation of pas
sengers or merchandise or any other com
modify in connection with the commerce
and business of the road. or may make any
contract and engagement for commercial
Intercourse by steam boats or other water
craft in connection with their road, as the
pany may see fit.
SEC. 8. Be it further enacted. That the
provisions of sections 2, and of section q,
Of an Act TO incorporate the Corinth, Kos
,uth and kosciusko Railroad Company, APP
proved April 5, 1872, be. and are hereby,
made a part of and applicable to this Act.
SEC. 10. Be it further enacted, That this
lct shall take effect and be in force from
and after its passage.
Approved April IL, 1873.