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five hundred thousand dollars, and shall be divided into shares of fifty dollars each, which shall be deemed personal property, and transferable in such manner as the said cor: poration shall by their by-laws direct.

3. And be it enacted, That the above named persons, or Commis: a majority of them, shall be commissioners to open books reerive -ehto receive subscriptions to the capital stock of said corpora. tion, at such time or times, and place or places, as they, or a majority of them, may think proper, giving at least twenty days' notice of the same in two of the newspapers published in this state; and at the time of subscribing ten per centum shall be paid for each share subscribed for, to the commissioners, or some one of them; and as soon as one hundred thousand dollars of the capital stock shall be subscribed, such commissioners shall give like notice for a meeting of the stockholders, to choose seven directors, a Election of majority of whom shall be residents and citizens of this state; and such election shall be made at the time and place appointed, by such of the stockholders as shall attend for that purpose, either in person or by proxy, each share of the capital stock entitling the holder thereof to one vote; and the said above named persons, or any three of them, shall be inspectors of the first election of directors of the said incorporation, and shall certify, under their hands, the names of those persons duly elected, and deliver over the subscription books and money paid in, deducting all expenses previously incurred, to the said directors; and the time and place of holding the first meeting of said directors shall be fixed by the said persons named in the first section of this act, or a majority of them; and the directors chosen at such meeting, or at the annual election of said corporation, shall, as soon as may be after every election, choose out of their own number a president, who shall be resident of this state; and in case of the death, resignation, or removal of the president or any director, such vacancy or vacancies may be filled for the remainder of the year in which they may happen, by the said board of directors, or a majority of them; and in case of the absence of the pre

Corporation mot dis

red for failure to

Duties and powers of directors,

sident, the said board of directors, or a majority of them,
may appoint a president pro tempore, who shall have such
power and functions as the by-laws of the said corporation
shall provide.

4. And be it enacted, That in case it shall happen that an

election of directors should not be made during the day Cloet on day when, pursuant to this act, it ought to be made, the said

corporation shall not for that cause be deemed to be dis-
solved, but such election may be held at any other time,
in the manner provided by law in such cases; and the direct-
ors for the time being shall continue to hold their office
until others have been chosen in their places.

5. And be it enacted, That four directors of the said cor-
poration shall be competent to transact all business of said
corporation, and shall have power to call in the capital
stock of said company, by such instalments, and at such
times, as they may direct; and in case of the non-payment
of said instalments, or any of them, to forfeit the share or
shares upon which such default shall arise; and to make
and prescribe such by.laws, rules, and regulations as to
them shall appear needful and proper, touching the man-
agement and regulation of the stock, property, estate, and
effects of the said corporation, and also shall have power to
appoint such officers, clerks, and servants as to them shall
seem meet, and to establish and fix such salaries to them,
and also to the president, as to the said board shall appear
proper.

6. And be it enacted, That the president and directors of to capstruct the said company be and they are hereby authorized and

invested with all the rights and powers necessary and ex-
pedient to survey, lay out, and construct a railroad from
Millville, in the county of Cumberland, in this state, to
some point on the line of the Camden and Atlantic railroad,
at or near Winslow, in the county of Camden; provided
always, that it shall and may be lawful for the said company
to make or construct the said railroad from and to the
places aforesaid not exceeding one hundred feet in widtb,
except in such places where from the depth of the excava-

Company authorized

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Proviso.

tion or the height of the embankment it is necessary to take more land for the slope and protection of the side banks of said railroad, in which case so much lands as will be necessary for the purpose, and no more, shall be taken, with as many sets of tracks and rails as the company may deem necessary; and it shall and may be lawful for the said president and directors, their agents, engineers, superintendents, or others in their employ, to enter at all times upon all lands and waters, for the purpose of exploring, surveying, levelling, or laying out the said route of such railroad, and of locating the same, and to make and erect all necessary works, buildings and appendages thereof, doing no unnecessary injury to private or other property ; and when the route of such road shall have been determined upon, and a survey of such route deposited in the office of the secretary of state, then it shall and may be lawful for the said company, by its officers, engineers, agents, 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 for the completion or repair of said road, subject to such compensation as hereinafter provided; pro. Proviso. vided always, that the payment or tender of the payment of all damages for the occupancy of lands through which the said railroad may be laid out, be made before the said company or any person under their direction or employ shall enter upon or break ground in the premises, except for the purpose of surveying or laying out said roads, unless the consent of the owner or owners of such land be first had and obtained.

7. And be it enacted, That when the said company, or its Proceedings agents, cannot agree with the owner or owners of such puny and required lands or materials for the use or purchase thereof, not agree. or when by the legal incapacity or absence of such owner or owners no such agreement can be made, a particular description of the land or materials so required for the use

any there

of said company in the construction of said road shall be given in writing, under the oath or affirmation of some engineer or proper agent of the company, and also the name or names of the occupant or occupants,

if be, and of the owner or owners, if known, and their resid. ence, if the same can be ascertained, to one of the justices of the supreme court of this state, who shall cause the said company to give notice thereof to the persons interested, if known and in this state, or if unknown and out of this state to make publication thereof as he shall direct, for any term not less than ten days, and to assign a particular time and place for the appointment of the commissioners here. inafter named, at which time, upon satisfactory evidence to him of the service or publication of such notice aforesaid, he shall appoint, under his hand and seal, three disinterested, impartial, and judicious freeholders, residents in the county in which the land or materials in controversy lie or the owners reside, commissioners to examine and appraise the said land or materials and to assess the damages, upon such notice to be given to the persons interested as shall be directed by the justice making such appointment, to be expressed therein, not less than ten days; and it shall be the duty of said commissioners (having first taken or subscribed an oath or affirmation before some person duly authorized to administer an oath, faithfully and impartially to examine the matter in ques. tion, and to make a true report, according to the best of their skill and understanding), to meet at the time and place appointed, and to proceed to view and examine the said land or materials, said commissioners at the same time taking into consideration all the benefits to be derived from or in consequence of the said railroad to the said owner or owners, and to make a just and equitable estimate or appraisement of the value of the same, and assessment of damages as shall be paid by the company for such lands or materials and damages aforesaid ; which report shall be made in writing, under the hands and seals of the said commissioners, or any two of them, and filed within ten

days thereafter, together with the aforesaid description of the land or materials and the appointment and oaths and affirmations aforesaid, in the clerk's office of the county in which the land or materials are situate, to remain of record therein, which report, or a copy thereof, certified by the clerk of said county, shall at all times be considered as plenary evidence of the right of said company to have, hold, use, occupy, possess, and enjoy the said land or materials, or of the said owner or owners to recover the amount of said valuation, with interest and costs, in an action of debt, in any court of competent jurisdiction, in a suit to be instituted against the company, if they shall neglect or refuse to pay the same for twenty days after demand made of their treasurer, and shall, from time to time, constitute a lien upon the property of the company, in the nature of a mortgage; and the said justice of the supreme court shall, upon application of either party, and on reasonable notice to the others, tax and allow such costs, fees, and expenses to the justice of the supreme court, commissioners, clerks, and other persons performing any of the duties prescribed in this section, as they or he shall think equitable and right, which shall be paid by the company; provided always, that should the said company or Proviso. 1 the owner or owners of any of the land or materials feel himself, herself, or themselves aggrieved by the decision of the commissioners aforesaid, he, she, or they may appeal to the next circuit court in the county wherein the said lands or materials may lie.

8. And be it enacted, That every appeal from the de. Proceedings cision of commissioners appointed under the preceding fron deci section shall be made in writing and in the form of peti. misi ioners. tion to said court, and filed with the clerk of the said circuit court of the county wherein the lands or materials appraised by the said commissioners shall be, and notice, in writing, of such appeal, shall be given to the opposite party within ten days after the filing thereof; which pro. ceeding shall vest in the circuit court full right and power to hear and adjudge the same, and to direct a proper issue

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