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Show AN ACT To mm ml "An Art or,,,,,;, jlr the Incur lnitum vt h'-u! ( ',i'h;,i ntr.i mut the ut-.tn.tt: men! t t'u- ,iljtiri there. ai-iird F.-!ru in l'.l, LSn'.l.' Sl'VI'loN I. '' l' r:fh tct hy the Governor mid t.-:ist,t w As-setnt'ly As-setnt'ly of' the- Territory t I 't.u't: That tho act entitled "An net providing for tho ineorpural inn ol railroad companies ami lint management manage-ment ot the a Hairs thereof, " approved Kebrnary ninetnenth, eighteen hundred hun-dred and ttixty-uine, bo and the ."aunt is hereby amended and Mipi'lenienlnl as follows: It nhall lm lawful Inr two or lnoio railroad companies to consolidate their capital ht irk, debts, property, iicts ami Iranohirirfl, in uny en eh manner man-ner ami on Mich turnw m (hu boaids ol diiei-tors of Mich companies may agree iin;i. But no such eoiiMihdation Hh.il I taku placn without t Jui written cmHent ol every shareholder in mich eomp-iuies; and no such consolidation shall in any way relieve Mich companies or tho s'ock holders thereof hum uny and all lu- nilitieH; anu m caac ui sucu coiiao.'iia-t coiiao.'iia-t ion, due notice of the Haniu nhall be given by advertising for at least one month iu two daily uevnpappra published pub-lished iu this territory, and when such consolidation is completed, such company shall !i!o new article, of association in the ollico of (he auditor of public account.-. Slid articles ol UMMu-mtion shall net forth: tho name of the consuhdat d company, the number of years the same is to continue con-tinue in existence, not exceeding fifty; tho amount ot tint capital stock ot the eompuiy, which shall lu-divided lu-divided into shares of one hundnd dollars; tho names and numbers ol; directors to manage the afl'tirs of the, company who shall hold Ih'-ir otlice until olhcl.s urn eleeb-d, as shall b provided by tho by-laws of I ho com pany; the termini of such road, the ( counties into and through winch it passes or i? intended to pu.-s and the! length as near as tu iy he. Such artiClis shall be siened by the presi I dents of the respective companies and their corporate seal shall he attached I thereto, which shall be atir.-tcd by lh' secretaries of the companies. 1 Siv. 2. That secti-m nine of said ( act bo and Iho ssme is hereby, amended by adding thereto tho fob i lowing: At any mei ting held in pur I fiance ut tho provisions of thinee-1 lion, which shall have been cal ed by 1 '.he stockholders and at wh:ch in it; !ess than three fonrti s ol the- j capital cluck of tho cum-1 pany is rcpres-mh d in rcr-oii or by written proxy, the ctn.-klinMers prc-j Sent may by uua:ii:n.i;i Vule s i ( o the eompmy, as to alter the ! route, or change the tenniii: o in , railroad: or mav increase tne amount of the e.ip't stock, or inciea-c r re-ihu re-ihu e the nuni'-r of il ireetof nl'Mir'u company to ai y ivimbr'r not li s tlia-i liw nor more than thirt mi. -!i a.-uon iments shal! ho signe 1 by t c pre,-idr;:t. and the s ret try p'u.i'.i certify tli'Teon, under hit b in 1 a;l the corporate .seal of the e. mutiny, the fact of their adoption, and alio the time, phvo, and by whom th -v were adopted, and thereupon t'c suall be tiled with the audit. r of p i ' he accounts, who shad attach the.n to liiecrigiual artielis on file in Ins otliea. Tue said amendments shail , from time of being so filed constitute a part of the articles of association of the company, and thereafter so much of the original articles as evmlliet w:th 1 such ammdincntd siiall te null a;,d void Skc. 3. That section fifteen of sail .ct be, and the same is hereby re- 1 peah-i, and the. following f-ubtituteil here for : Too slock of such company . shall tie deemed personal estate, shad ; be transferred in the manner pro- ; vided in I'm pp-ceding section, and upon tne books of the company, ' upon proper assignment and delivery, to the asMEtup, of tne certificates of stock; but no share shall he transfer-! a'de till all the previous cads or assessments therein hive been fully : paid in. Any shareholder trans ferrint; his stock in the mannr aforesaid, and the same being approval by li .e boards of directors, snail from and alter the date of such approval ce ic. to be a stockholder in such company, and shall not be liable to any lulure calls from the directors nor for any debts of the company thereafter. Sec. 4. Tnat section seventeen of said act be and the same is hereby repealed, re-pealed, nd tho following substituted therefor: Certificates of stock shall be, issued, signed by the president and secretary, sec-retary, in such manner and upon such terms as the by-laws of the company may prescribe. Sec. 5. That section twenty-two of said act is hereby repealed and Jhc following substituted therefor: Said epecial proceedings shall be conduchd substantially as follows: The saiu company shall file in the clerk's office of thp nrnhatp or diseonrt court of tlu: county or district in which said real estate is situated, a petition veritied according to law, stating therein the name cf the company, the time when it was incorporated, that it still continues con-tinues in legal existence, the principal princi-pal termini of the proposed railroad, the description by metes and bounds, or bv some accurate designation ol the "tract or tracts of lands which said company desire to appropriate for the purposes mentioned in tois act; tnat said tract or tracts of land are necessary neces-sary for said purposes, that the line of .aid railroad has been surveyed, and a map thereof ma le, (a copy ol which shall he filed with such potion) po-tion) taai said lino has been adopted as tho route for said railroad; tog'-ther with the names of the persons in pns session of said tract or tracts of land, and of those claiming any right, title or interest therein, as lar as tho same can be ascertained by reasonable diligence. dili-gence. Skc. G. That section thirty-two of said act is hereby repe ded and the following substituted therefor: Such company shall within thirty days alter tho final confirmation of the report aforesaid, pay or tender the sum of money assessed by said commissioners for the compensation of each tract of land described in said report, and said payment or tender may be made to the person or persons interested therein, according to the amount or extent, ot tne rigni, iiue or interest owned or held by them; or the pay-1 ment may be made to the said clerk of tho court in which such proceeding was had tor said persons, ami the same shall bo deemed valid for all purposes whatsoever, as if the said sum of money had been personally paid to each aud all the persons entitled en-titled thereto. Skc. 7. That section thirty-six of said act is hereby repealed and the following substituted therefor : A bell of at least twenty pounds weight shall be placed on each locomotive engine, and bo rung at a distance ol at least one hundred rods from the place whero tho railroad shall cross any street, road or highway, and be kept ringing until it shall have ! crossed, under penally of ( n hundred dollars fine for eaeli and every such negiect; which siiall be paid into the territorial ireaf-ury; I'rorul'd, that sounding the locomotive locomo-tive whistle, at least one fourth of a mile belore reaching any highway crossings, shall be equivalent to tinging ting-ing the bell, except in towns and at terminal places; and the whistle shall also bo sounded for every street crossing while passing through lowim .hu iug tho prevalent e ol tbr-H, hiinw Ltnil dii.U stoniiH; Haul coiunauj hhall alni be hahio ur nil iI.lih.ih which nliall be Hiftnin. d by uny pencil by reiuon ol such neglei t. Approved Febnuuy 10, 1H70. |