The daily gazette., 1875-01-13
TAe WUssineten ard Ckssa.
pe0ke Railroad.

IAe WySsiMgtcn ard Ckssa.
pe0ke Railroad.
sYSo Psls OF THE ACT on INooRfoRA
TIoN NOW BEFORE THE LEarsLATunK.
Below will be found synopsis Of the
act Of Incorporation Of the Whining.
ton and Chespeake Railroad, now be.
fore the Delaware Legislature. BY
some this road Ia suppesed to be con.
tinuation of the Philadelphia d Read.
ing Railroads Philadelphia branch,
which now extends TO Marcus Hook,
Pa and 10 soon to be pushed to Clay
mont at which point the w. & @. road
IL to commence.
The Wilmington d Chesapeake r.
r. act provides az follows:
| Sec l. Names the Corporators, already
reported. In case of death, &c, OF
any of the Commissioners, others may
be appointed in their place by the re.
naming Commission ers or majori-
ty of them. The capital as already
reported, Is mentioned also.
SEc. Q. Relates to their corporation
rights. No banking privileges arc to
SIC. 8. After 1000 shares are sub.
scribed, the Commissioner. after Civ.
ing at least 10 days notice In two or
more newspapers in the State, shall
call meeting OF subscribers In VIII.
mington to organize said Company by
appointing officers.
SEC. 4. The annual meeting 70 be on
the second Wednesday La January, of
each year, at Wilmington, of which at
least 30 days notice shall be given by
the Secretary in 2 newspapers in the
State. At any meeting OF the Stock.
holders regularly convened, those
present may proceed to business;
majority vote decides question; ell.
ections to be by ballot, each share en-.
titling to one vote. Occasional
meetings may be called.
SEC. g. At the first annual meeting
and every annual meeting thereafter
seven Directors are to be elected. a
majority Of whom shall be citizens of
Delaware and all of the stockhold.
ers. The first election to be conduc-
ted by 8 Of the Commissioners as'iudges
thereof. Subsequent elections by
3 stockholders not in the Board; to
be appointed by the Directors for the
time being as judges for that purpose.
Directors to elect President for one
year and until his successor Is chosen.
Directors also may appoint Secretary
and Treasurer Immediately after the
election. The Treasurer to give bond
with security. majority Of the Di-
rectors to constitute a quorum. Va
cancies in the Board to be filled by the
remaining Directors.
SEC. @. Meetings to be held in vii.
mington and other places. The Di.
rectors duties, are also prescribed in
this section,
SEC. z. Relates to certificates of
stock.
SEC. 8. Relates to the payment of
installments by subscribers to the
capital stock. Payment of 2 per cent.
per month for delay in payment, after
a call .of 30 days, or forfeiture of
shares, at option of Directors. No
Stockholder to vote at an election or
meeting on whose shares any INSTALL
ment is due and payable more than
~ days previous to such election or
meeting or is still unpaid at that
time.
SEC. o. Relates to dividends and an.
nual reports.
SEC. 10. Relates to the survey of
the road-to be 90 feet wide; one or
more tracks, from the Pennsylvania
state line near Claymont, Brandywine
Hundred, New Castle county, between
the p. w, q b. r. r. and the Della.
ware River; thence to the MARYLAND
State line west of Glasgow. Pencader
Hundred, New Castle county. Mary.
land, with privilege to cross the Chris
tlana creek near Wilmington; 10 lay
track across railroads and pay DANA.
ges for SO doing.
SEC. II. A union with any corpora
tion of Maryland to be effected for ex
tending the road, the:other corpora.
tions capital to be common with this;
the Joined companies to be one corpo.
rations. Contracts with other compa-
MES for conveyance of passengers and
freight to be allowed, provided not
prohibited by Maryland laws.
SEC. IL. Branch railroads not over
six miles to be allowed to be built
steamboats, to ply in connection.
SEC. The Superior Court of New
Castle county to appoint 8 persons to
assess damages. In case of dissatis-
faction, 12 others, appointed by the
Sheriff to look into the damage money
forI damages to be deposited in the
Union National Bank Of Wilmington
for payment.
Sec. IA. Relates to the owning of
houses, shops, depots, bridges. The
survey to be recorded at New Castle.
SEC. 10: Relates to tolls on passen-
gers and freight.
Sec. 10. Relates to punisnment Of
persons wiifully damaging the Compa-
ny's property.
SEC. II. The corporation not be
dissolved il no election IL held nnrs,,.
ant to this act; but ON giving 40 days
notice In two newspapers Of the State,
ANOTHER election meeting may be
called.
SEC. IS. Relates to the increase of