Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1879-01-23

r liabilities and restrictions Of thia chapter
. and such in addition "A such corporation,
4 peculiarly possess or were subject to at III.
, time Of consolidation by the laws then ia
3 force applicable to them or either of them
: Articles stating the terms Of consolidation
shall be approved BY each corporation BY q
vote of the stockholders owning . majority
of the stock, in person or bv proxy, at either
q regular annual meeting thereof or a special
meeting called for that purpose in the man
ner prescribed in section seven, or by the
consent in writing of such stockholders an
nexed to such articles, and q copy thereof,
with . copy of the records of such APP
proyal or such consent, and accompanied by
of shares held by each, duly certified by the
respective presidents and secretaries, with
the respective corporate seals Of such corpo-
%rations affixed, shall be filed for record in
the office of the secretary of the territory
before any such consolidation shall have
any validity or effect. Any railroad corpo-
ration whose line is wholly within this ter
ritorv, may lease or purchase the railroad
franchises, immunities and all other proper
~ and appurtenances of any other railroad
corporation when their respective railroads
can be lawfully connected and operated to-
gether to constitute one continuous main
line with or without branches.
Sec. IA. Any railroad corporation may
change its corporate name and adopt any
other by resolution adopted by the stock
holders owning a majority Of all the stock
thereof at either a regular annual meeting,
or a special meeting called for that purpose
in the name prescribed in section seven.
Such change shall not take effect until a copy
of such resolution and of the record of its
adoption certified by the secretary under his
hand and the corporate seal. shall be filed
with the secretary Of the territory. A like
certified copy Of such resolution shall be
published for three successive weeks there
after in any newspaper Of general circula-
ton published at the seat Of government of
the territory. Every proceeding, act, liza
bility or thing done, undertaken or encour-
aged by or on behalf Of the corporation un-
der its torme name shall be and continue of
the same validity and obligation under such
new name as if the nam had remained un-
changed.
Sec. Is. Every corporate IN, owning or
using a railroad shall restore every stream
of water, water course, street, highway, plank
road, toll or wagon road, turnpike or canal,
across, along, or upon which such rail
road may be constructed to its former state,
or to such condition as that its usefulness
shall not be materially impaired, and here
after maintain the same in such condition
against any effects in any manner produced
by such railroad. When any lands shall be
required in order to change the highway,
street, turnpike, or plank road the same may
be condemned, taken, and compensation
made in the n provided by law and
when 80 taken shall become a part of such
highway, street, turnpike or plank road tc
the same extent as, and by the same tenure
by which, the adjacent parts thereof are
held.
Sec. Is. When it shall be necessary in
the construction of a railroad to erect g
bridge or arch over any highway, street
turnpike or plank road, it shall be suficien,
to construct the same 30 as to give a clear
!, p~assaga-way of twenty feet, or two passag.
ways OF fourteen feet each.
Sec. II. All rolling stock of any RAILROAD
? corporation used and employed in connection
4 with its railroad, and all fuel necessary t.
: the operation of the same, are declared ant
e shall be held to be fixtures; and all sue
property, and all additional right Of way, dc
: pot grounds, and other real property acquire'
subsequently to the execution of any trust
deed or mortgage which shall have beef
t described or provided for therein, shall b.
subject to the lien thereof to the same ex
tent as the property therein described which
the corporation owned at the time of its ex
%ecution.
Sec. is. Every conveyance or lease, deco
OF trust, mortgage, or satisfaction thereof
made by any railroad corporation of any
franchises, real estate, fixtures, or other rea
property, in pursuance Of law, shall be exc
cuted and acknowledged in the manner il
which c%onveyances of real estate by corpora
tions are required to be, to en,itle the sam,
to be recorded, and shall be recorded in tn,
office Of secretary Of the territory who
shall endorse thereon his certificate thereof
specifying the day aud hour of its reception
and the volume and page where recorded
which shall be evidence Of such facts. Ev
cry such record Of any such instrument shall
from the time of reception have the sam,
effect as to any property of this territory
described therein as the record ofany similar
instrument in the office of a register of deeds
may have by law as to the property in his
county, and shall be notice Of the right.
and interests Of the grantee, lessee or mort.
gagee by such instrument, to the same extern
. "SAc AeCoIueu III each ana all OF th(
several counties in which any property there
in described may be situated.
Sec. 10. The board of directors of any cor
poration may annually, or oftener as MAJ
be deemed expedient, set apart and appro
pirate a sum of money not exceeding fifty
per cent. of its net earnings as resources fol-
any one year after paying the current ex
penses Of their road, and the interest on it,
outstanding Indebtedness ofsuch corporation
and the SAID sum SO set apart shall be annu.
ally applied to the payment and discharge
Of such debts of such corporation as shall be
due, and to the purchase and redemption o,
the outstanding evidences of indebtedness
of such corporation, as the board of direct
ors thereof shall deem most for the interest
of such corporation and for no other pur.
pose.
Sec. 20. No railroad corporation shall be
allowed to make the defence of usury against
the holder of any bond or other obligation
for the payment of money Issued by such
corporation.
Sec. 81. Any railroad may by q vote Ct
a majority in amount of the shareholder