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An Act to incorporate the Memphis and Little Rock Plank or Railroad Company. 1852-1853 130 (1852)

handle is hein.slavery/ssactsar0096 and id is 1 raw text is: 130 An act to incorporate the Memphis and Little Rock Plank or Railroad Company. SECTION. SECTION 1. Company styled the Little Rock andl der new valuation by jury, whose Memphis Railroad Company, and verdict shall be final; work on road by said corporate name. to do all not to cease on account of these acts lawflul and incident to corpora- proceedings; nor shall injunction or tions and necessary to the transac- supersedeas be awarded to delay tion of business. said work. 2. Certain persons named to open booksi 16. In absence of contract with compa. for subscription in this state, and al- ny from owner or agent of any so, at Memphis, and through which said road may 3. Books open for 4 days; if $400.000 are pass it shall be. presumed that said subscribed, stockholders to be noti- lsnd to the width of 100 feet on fled to meet and organize, and each side from tie centre of the elect a board of ditectors. road, has been granted to said corn- 4. Capital stock S400.000, and may be pany; owner or agent of such land increased to $2.000,000; shares $100 may appy within five years for ao each; share entitles a vote assessment, failing to apply within 5. Board of direct rs to consist of five that titie. to le oever barred from stockholders, who shall choose pre- recovering said land, or having any sident from their number and ap- essessinent thereon. point secretary, treasurer. &c. 17. Iniruding on said toad without will 6. Directors to hold office 12 months, of company. forfeits all vehicles and to fill vacanciesi company have that may be so intruded; anI per- exclusive right of transportation: sons so ittrudmug subject to fine rates of, li:trges fixed. and imprisonment upon conviction, 7. Manner of ptying installments, and 16. It aty person shall wilfully hurt, forfeitures for non-paynient. damage, destroy, or obstruct said 8. Stock transferble. road, such person subject to ir- 9. Company may increase capital stock prisonrent and fine,and it shall not either by new subscriptions; or sell- be competent to give in evidenoe ing stock, or borrowing money on that such person was the owner or credit of company. agett of said land when the dam- 10. Board of directors to make annual age was sustained. report to general meeting of the 19. Every obstruction of said road a stockholders. t public nuisance. 11, President and directors to. be citi2 20. Company to establish riles for re- zens of the U. States antI bona fide ceiving, storeage, and transporting owners of stock for 3 months, (ex- goods. cept first election ; stockholder to 21. Profits to be divided semi-annually possess stock at least three months among the stockholers. in his own right bifore he votes 22. Road not to impede any road or at an election. (except the first) - highway across which it may pass; 12. Votes may be in person or by proxy;1 pa'sing through land of an individ- each share entitles a vote. i nal, Company to provide suitable 13. Company may purehase and hold wagon way across te road. any lands, te,:ement5. &c. necessa-, 23. Company shall possess additional ry for the use of said road. poweis to carry out the objects of 14. Company my constrnet said road this charter. or branches thereof, across or along 24. Charter may be amended by legis- any public road or highway. provi-' latere upon petition of president ded the same is not obstructed by it I and directors, and obligatory when 15. Company and owners of land dis-I unanimously adopted by the pres- agreeing as to value, circuit court ideom and directors. of the county in which the land is, 25. President, directors, officers,and ser- to appoint five commissioners to vants of company exempt from vailtue the same; they shall estimate military duty except in certain Ca- the damages and the advantages sas. and from serving onjuries, and the owner will sustain by the con- working on roads. struction of said road, and the ex- 26. Company mey purchase slaves for cess of loss shall be the valuation. woi king and keeping road in order.. Either party appealing, court to or- 2. If company dissolve president and

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