Daily press and Dakotaian. [volume] (Yankton, Dakota Territory [S.D.]) 1875-1880, 1879-01-23
THE RAILROAD BILL.
introduced In the House by Hon. Ansley
Gray, of Bismarck.

Gray, of Bismarck.
The following is Mr.. Gray's railroad bill
as it was introduced in the house of repre-
sentatives On the 2lst inst:
A bill for an act to amend chapter III O
title II of part 3 of division second of the
civil code, and to provide for the organiza
t!on of railroad corporations, to regulate tn,
operation thereof aud 10 provide for the tax
alton of their property.
Be it enacted By tile egiazatice assembly O
the territory Of Dakota:
Section /. Any number of persons no
less than five may form a corporation fol
The purpose of Demonstrating, maintaining ant
operating a railroad for the transportation O
freight and passengers, or for the purpose o
maintaining and operating any railroad al.
ready constructed for the like purpose, BY
making ARTICLES of organization in which
shall be stated:
1. The lame Of the corporation.
2. The places from and to which such
railroad is to be constructed, or maintained
and operated as the case may be.
3. The length of such railroad and the
name of each county in this territory
through or into which it issmade or iutend.
cd to be made.
4. The amount Of the capital stock ofthe
corporation, the number of shares of which
it shall consist, and if such stock shall con-
sist of common and preferred stock, the
number and amount OF each class.
5. The names and residences ofthe direc-
tors of the corporation who shall manage
its affairs for the first year, and until Others
are chosen in their places, and who shall
nOt be less than five nor more than thirteen
In number; and each person shall subscribe
thereto his name, place of residence, and the
number of shares of stock he agrees to take
in such corporation. There shall be annex
ed to such articles an affidavit of at least
three of the directors therein named, that
the signatures thereto are genuine, and that
it is intended 10 good, faith to construct or
maintain and operate the railroad therein
mentioned and thereupon said articles and
afidavits shall be filed in the Office of the
secretary of the territory, who shall endorse
thereon the date of their filing and record
the same. After sucil filing a patent under
the seal of the territory, signed by the gov
ernor and secretary ofthe territory, shall be
issued in substantially the following form:
To all to whom these presents shall come,
greeting: Whereas (naming the persons
subscribing the articles of organization),
have filed in the Office of the secretary of
territory certain articles of organization,
with a view Of forming q corporation to be
known as (here insert the nance, and with
a capital of (here insert the amount), for the
purpose of constructing, maintaining and
operating Cor maintaining and operating) a
railroad from-to-, and have com
piled with the provisions of the statutes in
such cases msde and provided; therefore,
the territory Of Dakota hereby grants unto
The above named persons and their asso-
ciates, successors and assigns, full authority
by and under their said name of-to
the powers and privileges of a cor
p~oration for the purposes above stated and
In accordance with their said articles of or
ganization and the laws of this territory.
In witness whereof these presents have
oeen attested with the great seal and signed
md countersigned by the governor and sec.
'etary of Dakota, at-the-i day of
the year one thousand eight hun
............ Governor.
secretary of territory.
Upon the Issue of such patent, the sub
to such articles and all persons
Who shall hereafter become stockholders in
UGH corporation, shall be a corporation by
he name specified in such articles, and
ball possess all the powers and privileges
nd be subject to all the provisions of the
aw regulating railroad corporations and
he provisions of this chapter applicable
Section 2. Wien such a patent is issued
he directors may, In case the whole Of the
capital stock shall not have been before SUBJ
cribed, open books Of subscription to fill
Up the capital stock at such places, sand sf-
er giving such notice as they may deem ex-
and may from time to time receive
INSCRIPTIONS until the capital stock is sub
cribed.
Section 8. There shall be a board Of not
ess than five nor more than thirteen direct
rs of every such corporation, to manage It's |