Source: https://bullittcountyhistory.org/bchistory/louserailwayact.html
Timestamp: 2018-12-10 13:54:10
Document Index: 666754699

Matched Legal Cases: ['§ 1', '§ 2', '§ 3', '§4', '§ 5', '§ 6', '§ 7', '§ 8', '§ 9', '§ 10', '§ 11', '§ 12', '§ 13', '§ 14']

Bullitt County History - Louisville Southeastern Railroad Company
Louisville Southeastern Railroad Company
The Louisville Southeastern Railroad Company was incorporated in 1890 by Act of the General Assembly. This Act is transcribed below, and is taken from Acts of the General Assembly of the Commonwealth of Kentucky, Volume I, 1890, pages 523-526. The purpose was to build a railway line from Louisville through Mt. Washington to as far as Smithville. It was never built.
AN ACT to incorporate the Louisville Southeastern Railroad Company.
§ 1. That George W. Swearingen, W. B. Hoke, Dennis Long, James B. Camp, and George Long, of the city of Louisville, G. W. Scoggan, Dr. T. A. Hays and Thos. H. Thixton, of the county of Jefferson, F. O. Carrithers, John T. Lux and J. Douglas Wright, of the county of Bullitt, are hereby incorporated under the name and style of "The Louisville Southeastern Railroad Company," and by that name may contract and be contracted with, sue and be sued, purchase, own, hold and sell real estate and personal property, and adopt and use a common seal, and alter the same at pleasure.
§ 2. The business of said company shall be the construction and operation of a line of railway for conveyance of passengers and freight, with single or double tracks, to be propelled by either electricity or steam or both, from the city of Louisville, or near Louisville, through the counties of Jefferson and Bullitt, near the town of Mt. Washington, and on to Smithville, in Bullitt county, Kentucky, together with the lines of telegraph and all appendages necessary and usual in the construction and operation of a railway.
§ 3. The business of said company shall be managed and controlled by a board of not less than seven or more than eleven directors, who shall be elected by the stockholders of said company. Said board shall choose from its members a president and vice-president, and also elect a secretary and treasurer, and shall have power to adopt all necessary by-laws for the transaction of its business.
§4. The authorized capital stock of said company shall be one million five hundred thousand dollars, divided into shares of one hundred dollars each, and said directors shall fix the manner and form of issuing and transferring of said stock. The incorporators hereto shall have the right to open books for the subscriptions of stock at such time and place as they may desire, and close and reopen the same at pleasure. Said incorporators, or such of them as may choose to act, may meet as early as convenient and elect a president, vice-president, secretary and treasurer, and such other officers as they may need to serve until the first Tuesday in June, one thousand eight hundred and ninety-one, or until their successors are elected and qualified; and the incorporators or board may fill vacancies if any shall occur.
§ 5. The said Louisville Southeastern Railroad Company, in order to raise means for the construction, equipment and operation of its railroad, may issue and sells bonds of said company in an amount not exceeding one million five hundred thousand dollars; said bonds shall bear interest at a rate to be fixed by the board of directors. To secure the payment of said bonds and interest, the company may execute and deliver mortgages or deeds of trust, conveying all its property, real and personal? including its railway, telegraph line and franchises.
§ 6. The said Louisville Southeastern Railroad Company is hereby authorized and empowered to locate, construct, maintain and operate a line of railway by electricity or steam, with single or double tracks, including a line of telegraph, from a point in or near the city of Louisville, through the counties of Jefferson and Bullitt to the town of Mt. Washington, and on to Smithville, and for that purpose it may acquire by purchase, gift or donation, the right of way to so much land, not exceeding one hundred feet in width, as may be necessary to construct, complete and operate the said line of railroad: Provided, however, That if they can not agree with the owners of said land as to the value of the same, or if the owner of the said land be a feme covert, minor, or non-resident, or a person non compos mentis, the said railroad company may proceed to condemn the same in the manner provided by an act, entitled "An act to prescribe a mode of condemning lands for the use of railway and turnpike companies," approved April eleventh, one thousand eight hundred and eighty-two.
§ 7. The said Louisville Southeastern Railroad Company may have the right to purchase ground for a park or summer resort, or build and operate a hotel, at any place on or near the line of its railroad, and for the purpose of constructing and maintaining said line of railroad may occupy or use any turnpike, county road, street or other public way or ground, or any part thereof, upon such terms and conditions as may be agreed upon between said company and the municipal or other corporations, persons or public authorities, owning or having; charge thereof.
§ 8. The said incorporators, or such of them as may act, or said officers and directors of said company, or such of them as may be authorized to act, have the power and may issue non-assessable paid-up stock in the purchase of any land or right of way, or for any services to, or work done to or for, or for any property bought by said company.
§ 9. Said board of directors shall fix the mode and manner of subscribing for stock and paying subscriptions for same, and how much stock a director shall own to be eligible as a director. They shall make such by-laws, rules and so forth as may be necessary for the management and government of its affairs, and fix the salary of its officers and fill vacancies in the board.
§ 10. The principal office of said company shall be in the city of Louisville, Kentucky.
§ 11. The annual election of the board of directors of said company shall be held at the office of the company on the first Tuesday in June, one thousand eight hundred and ninety-one, and on the same day every year thereafter; but the incorporators or their successors shall be the directors until the first Tuesday in June, one thousand eight hundred and ninety-one. Every stockholder shall be entitled to one vote for every share of stock owned by him or her, and may vote in person or by proxy.
§ 12. The said company shall commence work within two years from the passage of this act, and complete same within five years from said date.
§ 13. Neither the incorporators nor the officers or stockholders of the company shall be personally liable for the debts of the corporation.
§ 14. This act shall take effect and be in force from and after its passage.
Approved March 1. 1890.
The Bullitt County History Museum, a service of the Bullitt County Genealogical Society, is located in the county courthouse at 300 South Buckman Street (Highway 61) in Shepherdsville, Kentucky. The museum, along with its research room, is open 8 a.m. to 4 p.m. Monday, Tuesday, Wednesday and Friday; and from 8 a.m. to 6 p.m. on Thursday. Admission is free. The museum, as part of the Bullitt County Genealogical Society, is a 501(c)3 tax exempt organization and is classified as a 509(a)2 public charity. Contributions and bequests are deductible under section 2055, 2106, or 2522 of the Internal Revenue Code. Page last modified: 08 Sep 2018 . Page URL: bullittcountyhistory.org/bchistory/louserailwayact.html