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Sec. 3. And be it enacted, That David Reeves and Fayette Pierson, of Cumberland, Thomas Whitaker and Isaac Johu-» Commi««ioncr« son, of Salem, and William Porch, of Gloucester, be, and torec«i»e«ub- they are hereby appointed commissioners to receive subscrip*" fion3 for the capital stock of said corporation, and they, or a.
majority of them, are hereby authorized, for that purpose, to open books of subscription, at such times and places as they, or a majority of them, shall appoint, giving twenty days notice of such times and places, in a newspaper of each of* the counties of Cumberland, Salem and Gloucester, and at such times and places so fixed, the said commissioners, or any three of them, shall attend and receive subscriptions to the said capital stock; and if more shall be subscribed than by this act is authorized, the said commissioners, or a majority-of them, shall apportion the same as to them shall seem fair, equitable and just; and at the time of subscribing for said stock, five dollars on each share subscribed, shall be paid to the said commissioners, in gold or silver coin, or legal and current bank notes, and the residue thereof mav be called in, and shall be paid at such times, and in sucfi amounts, by instalments, as is, by this act hereinafter directed; and the said commissioners may meet from time to time, until the whole stock be subscribed.
Sec. 4. And be it enacted, That whenever there shall be six hundred shares of the said stock subscribed, and three Time aod mod* thousand dollars paid in as above directed, the said commisof choosing ai- sioners, or a majority thereof, shall give public notice for reciorj. twenty days, in one or more newspapers of this slate, nearest.
the location of said road, of a meeting of the subscribers to said stock, for the purpose of choosing directors, and organizing the said company; and of which said election the said commissioners shall be the judges, which subscribers, when so met, shall proceed to elect, by ballot, from among the subscribers or stockholders, seven directors, who shall be citizens and residents of this state, and hold their offices for one year, and until others are elected, and each stockholder, at such election, and at all future elections of said corporation, shall have one vote for each share, he, she or they, shall own at the time of such election, not exceeding twenty shares, and for every five shares above twenty, one vote, and that such stockholder or stockholders may vote at any election by proxy, duly authorized for that purpose.
Sec. 5. And be it enacted, That the said board of direc
chownr'"b* tors'so t0 ^* cnosen as aforesaid, shall and may elect out of c Iusui. their own body, or from among the stockholders, a president,
and such other officers, with such salaries as they may deem proper, and shall and may employ such artificers, engineers, agents, laborers and workmen, for the purpose aforesaid, with such compensation as shall appear to the auid directors, rcasonable and just; and shall and may make, ordain and establish such by-laws and regulations for their own government, and that of the persons by them employed, as shall and may from time to time be necessary to effectuate this charter, and a majority of the said board, shall, at all times, be a quorum for the transaction of business, and may have power to call in the remainder of the capital stock of said corporation, by instalments, not exceeding ten dollars each, by giving thirty days notice of such required instalments, in one or more newspapers, circulating, generally, in the neighborhood where such stockholders reside; and if any stockholder shall neglect or refuse, for twenty days after such instalment is due, to pay instalment* forthe same, he, she, or they, so neglecting or refusing, shall ftited 011 t"lur« forfeit their stock and all payments made thereon; and the 10 w" said board of directors shall, and may, require, from their treasurer, such security as to them shall seem just; Provided always, that no by-law or regulation of' said company, shall be inconsistent with or repugnant to the laws of this state, or ProTM0of the United States, or this charter.
Sec. 6. And be it enacted, That when the said board of directors are so elected and chosen, the said commissioners are hereby authorized and required, to pay over to the said iep«TOT«r moboard of directors, or to such person as they, or a majority neyirec«i»»d of them shall direct, all money which they have received for * iinKU'n' the subscription to said capital stock, first deducting therefrom all expenses to which they have been exposed, for books, printing, or other expenditures, and the sum of one dollar per day, for each and every day they shall have been employed in the duties of their appointment; and the directors so chosen, and their successors, shall annually thereafter, cause an election to be held at such time and place, as their by-laws shall direct, for directors of the said corporation; and such directors so annually chosen, shall in like manner, have power to elect their president and other officers, agents, engineers, workmen and artificers, as is by the fifth section of this charter herein before provided; and shall and may have the power at all times, to remove their officers and other persons so appointed, and appoint others in their stead, if the interests of the company shall require it, and also have power to fill all vacancies in the offices of said corporation, which may or shall happen, from death, resignation, or otherwise.
Sec. 7. And be it enacted, That in case it should happen that an election of directors should not be made on the day, corporation not or at the time, when pursuant to this act it ought to be made, diawiyed for the said corporation shall not for that cause, be deemed to Jjj^^J^. be dissolved, but such election may be held at any other time; «d. and the directors for the time being, shall continue to hold their office until new ones shall have been chosen in their places.
Company may eater upon lands, &c
Sec. 8. And be it xnacted, That the said president and directors of the said company, are hereby authorized and invested, with all the right and powers necessary and expedient to survey, lay out, and construct a railroad, to commence at or near the termination of Point street, in the town of Bridgcton, Cumberland county, at Cohansey creek, and to run thence by the most eligible route to Carlsburg, in said county of Cumberland, about three miles, passing through said village, and thence still by the most eligible route on the west side of a certain public road of four rods wide, from Carlsburg to Centreville, in the county of Salem; thence by the most eligible route to or near Little Ease Mills, in the county of Gloucester, making the whole distance about sixteen miles; with as many sets of tracks or rails as they may deem necessary; and it shall be lawful for ihe said president and directors, their agents, engineers, superintendents or others in their employ, to enter at all times upon all lands or water, for the purpose of exploring, surveying, levelling or laying out the route or routes of such road, and of locating the same, and to do and erect all necessary works, buildings and appendages thereof, doing no unnecessary injury to private property; and when the route of such road shall have been agreed upon, and filed in the office of the secretary of this state, then it shall be lawful for the said company by its officers, agents, engineers, superintendents, contractors, workmen and other persons in their employ, to enter upon, take possession of, hold, have, use, occupy and excavate any such lands, and to erect embankments, bridges, and all other works necessary to lay rails, and to do all other things which shall be suitable or necessary to call into full effect^ the objects of this charter: Provided alioays, That the said corporation shall pay .or make tender of payment, of all damages for the occupancy of the lands, through which the said railroad may be laid out, before the said company, or any person in their employ, shall enter upon, or break ground in the premises, except for the purpose of surveying said route, unless the consent of the owner or owners of such land be first had and obtained.
Sec. 9. And be it enacted, That if the owners of the land on which such railroad shall be made, shall not be willing to give the same for such purpose, and the said company and owner cannot agree as to the price of the. same, it shall be the duty of any judge of the Inferior Court of Common Pleas of the county, in which the said disputed land shall lie, who is disinterested in the premises, upon the application of either party, and after notice to the opposite party of such application, and after hearing the parties, to appoint three disinterappointed to ap- csted commissioners of such county, to assess the price or onaudf16 VaU8 va^uc °f sa^ land, who shall be sworn before said judge, faithfully to execute the duties of such appointment, and after notice to both parties, of the time and place, shall meet,
Proceedings when the co
of lands cannot agree upon their salue.
Sec. 11. And be it enacted, That it shall be the duty of the said company, to construct and keep in repair, good and suffi_ .. , . cient bridges or passages, over or under the said railroad,*
Bridget to be . ", .. r ~.' ■ i_ 11
constructed where any public or private road shall cross the same, so roadl crow the that the P^31^ of carriages, horses and cattle, over the said railroad, road shall not be impeded thereby, and also, where the said road shall intersect any farm or other lands, of any individual, to provide and keep in repair suitable wagon ways over or under said road, so that the same may be passed; and likewise to make and maintain good and lawful fences along the line of said road, where the same may be necessary.
Sec. 12. And be it enacted, That the president and directors of the said company, shall have power at their discretion to have constructed or to purchase with the funds of the company, and to place on the railroad by them concMuwrehx- structed, all machines, engines, wagons, carriages or vehicles, dee for tr*n»-^ for the transportation of persons or any species of property »enge'r» and1*"" thereon, as they may think expedient and right; Provided, merchandise, they shall not charge more than at the rate of ten cents per Rateof toii». mile per ton, for the transportation of property on said road, not particularly specified in this act, five cents per mile for each passenger in the carriages of the company, ten cents per cord per mile for wood, ten cents per thousand feet for lumber per mile, and one eighth of a cent per mile per bushel for grain, and that the said railroad and appendages, carriages, engines, tools, implements, and all other property, real and personal, by the said company, had, held, used, occupied and enjoyed, and necessary and proper for the use of the said company, shall be, and the same is hereby vested in the said corporation, and their successors and assigns, during the continuance of this act.
Sec. 13. And be it enacted, That the president and directors of the said company, may, whenever the sum of six
when the rail- thousand dollars is paid in, according to this act, commence
ew^wneed. tne sa*d railroad at Bridgeton aforesaid, and shall complete the same to Centreville, in the county of Salem; and if the whole of the capital stock shall be subscribed, they are then authorized and required to continue the said railroad to Little Ease Mills, in the county of Gloucester, according to the direction of the seventh section of this act; and jf the said road shall not be finished to Centreville, within ten years, or
JomJiitTon!4 f°r finisned the whole distance within fifteen years, then the rights of the said corporation as to the part of such road unfi
ProTuo. nished, shall wholly cease and be void; Provided, that nothing in this act contained, shall prevent the said corporation from the full use, privilege and enjoyment of such part of said road, as shall within the said period be finished and completed.
Sec. 14. And be it enacted, That if any person shall wilfully impair, injure, destroy or obstruct the use of the said