Source: http://mdh.contentdm.oclc.org/cdm/ref/collection/molaws/id/44804/
Timestamp: 2020-05-27 09:55:32
Document Index: 729207566

Matched Legal Cases: ['§ 22', '§ 23', '§ 25', '§ 26', '§ 27', '§ 28', '§ 22', '§ 23', '§ 25', '§ 26', '§ 27', '§ 28']

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RAIL   ROADS. 269
three years from the passage of this act, and may from time to time, construct
so much thereof as may be within the ability of the company, and shall complete the same within ten years from the time of commencement.
§ 22. It shall be lawful for said company to plan or prescribe the kind of
carriages that may be used on said road, ,and by whom used, and whether
propelled by steam or other power, for the transportation of passengers, goods,
wares, and merchandize of all kinds, and also all kinds of produce, lumber
or other articles usually transported on such roads, for this purpose said company may construct said road with such turn-outs, toil-houses, warehouses,
and other things or devices as may be considered necessary or to the interest
§ 23. All cars, carriages, or other vehicles for the conveyance of any of
the things aforesaid on said road, shallbe subject to the direction ofthe company, and no person shall put any carriage or other vehicle for conveyance,
or transportation as aforesaid, on said road, without the permission of the
& 24. The company may charge and receive such tolls for freight, for the
transportation of persons, commodities or carriages, on said road, or any part
thereof, as shall be to the interest of the same, not to exceed ten cents per
mile for passengers, and twelve and a half cents per mile per ton for freight.
§ 25. The company shall at all times keep posted up at some conspicuous
place at each toll-house, a list of the rates of toll and freight. If the company shall, at any time, refuse or fail to transport within a reasonable time,
any goods, wares, or merchandize, delivered at the proper place, the toll or
freight thereon having been paid, they shall be liable to the party injured in
double the amount of such toll or freight, together with private damages for
the detention, to be recovered in any court of competent jurisdiction.
§ 26. Semi-annual dividends of so much of the profits as the directors
may deem expedient, shall be made on such days as the directors may determine, and be paid to the stockholders as soon thereafter as can with convenience be done; but no dividend shall be made-to a greater amount than
the nett profits after deducting all expenses, and the directors may reserve
such portion ofthe profits as a contingent fund to meet subsequent expenditures, as they may deem proper.
§ 27. At every annual election the directors shall lay before the stockholders present, an exhibit of the affairs and condition of the company; any
number of the stockholders owning one-fifth ofthe stock subscribed, may
call a meeting of the stockholders, by giving at least two weeks notice in
one or more newspapers printed in this State, specifying the. object of the
call, and if a majority ofthe stockholders are present or represented, they
may make such order touching the concerns of the company as a majority
may determine: Provided, That a majority of said stockholders must also
embrace a majority of the shares subscribed.
§ 28. When said road is located, the company shall cause a plat thereof
to be made out and filed in the office ofthe Secretary of State, and the legislature may at any time require a statement from the company as to the
progress of the work, the amount of business and the receipts thereon.
\ 29. The General Assembly of this State shall have power, at the termination of forty years after the said road shall have been completed, to purchase the same, together with all and singular the cars, wagons, vehicles, locomotives and their necessary and proper appendages, and all the implements
necessary and proper for keeping in repair said rail road. The State shall
Pay to the company the actual costs of said rail road, with twenty-five per
centum on the said amount, if the said road shall be in good repair, and if
J10*- in good repair, the State shall pay to the company the actual costs of said
Identifier LAWS_9th_1836-1838_0269.tif
Transcript RAIL ROADS. 269 three years from the passage of this act, and may from time to time, construct so much thereof as may be within the ability of the company, and shall complete the same within ten years from the time of commencement. § 22. It shall be lawful for said company to plan or prescribe the kind of carriages that may be used on said road, ,and by whom used, and whether propelled by steam or other power, for the transportation of passengers, goods, wares, and merchandize of all kinds, and also all kinds of produce, lumber or other articles usually transported on such roads, for this purpose said company may construct said road with such turn-outs, toil-houses, warehouses, and other things or devices as may be considered necessary or to the interest ofthe company. § 23. All cars, carriages, or other vehicles for the conveyance of any of the things aforesaid on said road, shallbe subject to the direction ofthe company, and no person shall put any carriage or other vehicle for conveyance, or transportation as aforesaid, on said road, without the permission of the company. & 24. The company may charge and receive such tolls for freight, for the transportation of persons, commodities or carriages, on said road, or any part thereof, as shall be to the interest of the same, not to exceed ten cents per mile for passengers, and twelve and a half cents per mile per ton for freight. § 25. The company shall at all times keep posted up at some conspicuous place at each toll-house, a list of the rates of toll and freight. If the company shall, at any time, refuse or fail to transport within a reasonable time, any goods, wares, or merchandize, delivered at the proper place, the toll or freight thereon having been paid, they shall be liable to the party injured in double the amount of such toll or freight, together with private damages for the detention, to be recovered in any court of competent jurisdiction. § 26. Semi-annual dividends of so much of the profits as the directors may deem expedient, shall be made on such days as the directors may determine, and be paid to the stockholders as soon thereafter as can with convenience be done; but no dividend shall be made-to a greater amount than the nett profits after deducting all expenses, and the directors may reserve such portion ofthe profits as a contingent fund to meet subsequent expenditures, as they may deem proper. § 27. At every annual election the directors shall lay before the stockholders present, an exhibit of the affairs and condition of the company; any number of the stockholders owning one-fifth ofthe stock subscribed, may call a meeting of the stockholders, by giving at least two weeks notice in one or more newspapers printed in this State, specifying the. object of the call, and if a majority ofthe stockholders are present or represented, they may make such order touching the concerns of the company as a majority may determine: Provided, That a majority of said stockholders must also embrace a majority of the shares subscribed. § 28. When said road is located, the company shall cause a plat thereof to be made out and filed in the office ofthe Secretary of State, and the legislature may at any time require a statement from the company as to the progress of the work, the amount of business and the receipts thereon. \ 29. The General Assembly of this State shall have power, at the termination of forty years after the said road shall have been completed, to purchase the same, together with all and singular the cars, wagons, vehicles, locomotives and their necessary and proper appendages, and all the implements necessary and proper for keeping in repair said rail road. The State shall Pay to the company the actual costs of said rail road, with twenty-five per centum on the said amount, if the said road shall be in good repair, and if J10*- in good repair, the State shall pay to the company the actual costs of said