Year: 1871

the caplfa stock of such company

 Sec. B The capital stock of said company shall be divided into shares of one hundred dollars each, and each subscriber to such arti- cles of association shall subscribe thereto his name, residence, and the number of shares he agrees to take in said company and on com, pliance with the provisions of the next section such articles of association may be filed in the office of the Secretary of State, who shall en- dorse thereon the day they are filed and rec for that purpose, and thereudon the persons who have subscribed such articles of associa- hon. and all persons who shall become stock holders of such company, shall be corpora tion by the name specified in such articles of associationI

 Sec-4. Such articles of association shall not be filed and recorded unless they are accom- panied by the report under oash of skillfull engineer, founded on an actual examination of the ron owing the character and structure of the proposed road-bcd, with it's indications of rock or earth cuttings, the manner in which 1t is proposed to construct said railroae the general profile of the country through which it is proposed to be made tbe feasibility of the route, ana an estimate of the probable expense of constructing the same; copy of which re port shall be kept on file in the office of the Secretary of State nor shall such articles of association be filed and recorded until at least i've thousand dcllars of stock for every mile of railroad proposed to be made is subscribed thereto and ten per cent of such subscription paid in cash to the directors named in said articles of association nor unless there IS an- nexed thereto an affidavit made by at least three of three of the directors named In said articles, that the amount of stock required by this section has been in good faith subscribed, and ten per cent ia cash paid thereon as afore- said, and that it is intended in good faith to construct the road named in such articles of And ofo ~ffa nfo oc sociation filed and recorded as aforesaid, or of the record thereof, certified by the Secretary of State, shall be primo facie evidence of the due formation, existence and capacity of said corporation.

 Sec 5. When such articles of association are recorded in the office of the Secretary of State the directors may in case the whole of the capital stock is not subscribed, open books of subscription to the same in such pieces and on such notice as they may deem expedient, and may continue to receive subscriptions un- til the whole of the capital stock is subscrlb- ed !; and at the time of subscribiber shall pay ten per cent on the amount subscribed by him, in lawful money, and no subscription shall be received or taken without such pay ment of ten per cent in cash on subscribing provided such company shall not commence the construction of it's road until at least ten thousand dollars per mile is subscribed to the capital stock thereof, by responsible persons, and ten per cent, in cash is paid in there on.

 Sec. 6. such company may purchase, re- ceive and hold in fee simple or otherwise, such real estate as may be necessary or con- veuient for accomplishing the objects of this act, may by their agents, surveyors and en- gineers, enter upon such route, place or places as may be designated by their board of di- rectors, for he purpose of making surveys, and determining the line, course oe way where on to construct said railroad, and may con- struct, complete, equip and maintain, and enjoy railway with one or more tracks, over the route specified in their articles of associa- ton, and to take, transport and carry persons and property thereon by the power and force of steam, of animals, or of any mechanical or other power, or any combination of them and shall be vested with all th @ powers and privileges enjoyed by all other railroad com- panies in this state, subject to all the statutes which are now or may hereafter be enacted for the government of railroad companies, and all the immunities, rights, privileges and pow CTS given in this act act shall be enjoyed by the railroad companies at present existing in this State. proUided, the same do not codfict with the special provisions of any charter.

 Sec.7. The directors of any such railroad company, for the time being. shall have power to fill any vacancies which may occut in their number, may choose president vice-presi- dent, and such other officers as they may deem expedient, may make and subscribe such bylaws, rules and regulations as they shall deem needful and proper, not contrary to the laws of this state hr of the United States, in regard to the disposition ond management of the stock, property, estate and effects of said company the transfer of its shares, the dusies and conduct of it's officers and servants the warning and holding of meetings of direc- tors and stockholders, and all matters what soever which may appertain to the regulation of the affairs of such company. The number of directors may be fixed by the stockholders at any annual meeting.

 B 2 Sec.S Such company may If necessary in the construction of their railroad, intersect, cross, or connect with any other railroad, pro- Uided, that if said company shall desire to make any such crossing, intersection, or con- dition, it shall first agree with the railroad company whose road it so desires to intersect or connect with, in reference to the plan or connect with in reference to the plan or man. ner thereof if able to do so, but if unable so to agree, then the board of railroad commission CTS shall have power to fix and determine the place or matter of such connection, intersection or crossing, after giving req sonable notice to such company, to attend and be heard and their action in the premises shall be final and prouded further, that no railroad shall cross or intersect any other double track railroad on grade, expect for the purpose of making  that nothing in this act contained shall author ize the bridging of navigable waters, without the consent of the General Assembly,

 Sec. g. Any such railroad company may make lawful contracts with other railroad company, with whose railroad it's track may connect or intersect, in relation to its business or proper ty, and may take lease of the property or franchise of, or lease it's property or franchises to any such railway company, on such terms as may De mutually agreed upon by such con- panies-and may construct branches from the main line to any place or town in this State, subject to the provisions of this act provided that this act shall not be construed to author ize the merger or consolidation of stock of such companies.

 Sec. TO- Any railroad company may lav out and locate it's road, and take any lands for the various purposes thereof in the manner pre- scribed by the general statute laws of this State, but no land shall be taken without the consent of the owner thereof, except within twelve months after the approval of the loca- tion of the route by the board of railroad com missioners and when the lands of any feme covert, lnfant ces tui que trust, or person non

 compos mentis 5hall be necessary for com

 struction of any railroad, said lands

 husband of such feme covert the trustee of anv

 such cestui que trust, the guardian, either nat

 ural or appointed, of such infant, and the 2 conservator of such person non compos mentis

 and thev may resnective1v raloaSa o1l 5.....--