such indebtedness, then the title to such lands as may be so released shall vest in the said company, in the proportion of ten thousand acres for each mile of railroad they grade and furnish with crossties, or that may thereafter be graded and furnished with crossties: Provided, That for every forty miles of road so graded and furnished with crossties ten miles shall be fully completed and equipped and in actual operation: Provided furthermore, That all the lands granted by this act, or their proceeds, shall be applied to the construction, equipment and operation of said railroad. (b)

act are available

SEC. 6. No rights shall vest under this act unless the con- Terms on which struction of said railroad shall commence as provided above benefits of this within two years, and be continued and carried on with reasonable progress; and no benefits shall be claimed for or on account of any part of the road constructed after seven years from the passage of this act. (b)

ST. JOHNS RAILROAD COMPANY.

be sued.

SECTION 1. A company is hereby incorporated by the name Name. and style of the St. Johns Railroad Company, and by that name all who shall become subscribers for stock and members of said company, their successors and assigns, shall be capable in law to purchase, receive, retain and enjoy, to them and their May purchase and sell propsuccessors or assigns, lands and tenements, goods and chattels erty. and effects of whatsoever the same may be, and the same to grant, sell, mortgage, hypothecate and dispose of, to sue and be sued, to plead and be impleaded, answer and be answered in May sue and any court of law or equity in the State or elsewhere, to make a common seal, and the same to alter or amend at pleasure, to common seal. ordain and establish and put in execution such by-laws and rules and regulations as may be deemed necessary and expe- By-laws, rules, dient for the government of said corporation, for the transfer of the stock on the books of the company, for the mode and manner of disposal of the property of the corporation, and generally to do all things necessary to carry into effect fully and completely the objects of this act. (a)

&c.

SEC. 2. The St. Johns Railway shall commence at some point Termini, how on the river St. Johns, between Six-Mile creek and Deep creek, selected. the point of beginning to be selected by the president and directors and approved by a majority of the votes of all the shares of stock in said company, and from thence run towards St. Augustine on the most practicable and eligible route determined on by said company, and that the eastern terminus shall be within the limits or near the city of St. Augustine. (a) SEC. 3. The capital stock of said company shall be one hun

(b) Secs. 5 and 6, Chap. 3170, Act of March 12, 1870.

(a) Secs. 1 and 2, Chap. 936, Act of Dec. 31, 1858.

Proviso as to increase of stock.

Books of subscription to be opened.

Capital stock. dred thousand dollars, divided into shares of one hundred dollars each, but which said capital stock may be increased, from time to time, one hundred thousand dollars, under such rules and regulations as may be made by the president and directors for procuring subscribers to additional stock as they may think proper and advantageous to the company and a speedy completion of the road, and furnishing the equipment: Provided, The increase of stock at any time shall be approved by a majority of the votes of the whole number of shares in said company at a stockholders' meeting. Books of subscription for the said capital stock shall be opened within thirty days, or as soon thereafter as practicable, after the passing of this act, at St. Augustine, under the superintendence of Benj. A. PutCommissioners nam, R. F. Floyd, George Burt, B. E. Carr, James Riz, E. T. Pain, and C. C. Bravo, and they are hereby appointed commissioners to open books and receive subscriptions for stock in said company, any three of whom may act if from any cause others should be absent from the advertised place of meeting, and they shall give public notice of the time and place of opening said books. Each subscriber shall at the time of his subAmount to be scription pay to the said commissioners one dollar in cash on each share subscribed for, for which he shall receive a receipt, and the books of subscription shall be kept open for the space of six months, or until one thousand shares shall be subscribed for, at which time they shall be closed. (a)

Notice to be given.

paid by sub scribers.

Books, how

long kept open.

Duty of commissioners.

Directors, how chosen.

SEC. 4. It shall be the duty of the acting commissioners, immediately after said subscription, to give notice to the stockholders that a meeting will be held at an appointed time and place, in the city of St. Augustine, for the purpose of electing five directors, who shall be chosen from the stockholders by the votes of said company, every stockholder being entitled to one vote for every share of stock which he or she may have subscribed for, and the said stockholders may vote by proxy, and a majority of the votes shall be necessary to constitute a choice. The directors so elected shall, from their own body, President, how choose a president, and in each and every year, at such time and place as the directors may from time to time determine, there shall be an election of five directors, as herein provided, and an election of president of and for the government of said company: Provided, That if from any cause whatever there should at any time be no election of directors, the corporation shall not for that cause be dissolved, but the directors and other officers then in office shall continue with all the powers until an election can and does take place. (a)

chosen.

Directors to hold over, when.

Commissioners

SEC. 5. Immediately after the organization of said company to deliver books in the manner directed in the preceding section, the commisand pay money sioners shall deliver the books of subscription to the presi dent, and also pay into his hands the amount of cash received by them on stock subscribed for, deducting, however, the nec

to President.

(a) Secs. 3 and 4, Chap. 936, Act of Dec. 31, 1858.

of stock, how

essary expenses for books and advertising; and the said directors shall thereupon require, at such time as they may deem Instalments expedient and necessary, payment from each stockholder of called in. such additional sum as may be deemed necessary on each and every share subscribed to the capital stock of said company : Provided, There shall not be more than fifteen per centum upon each share demanded at any subsequent instalment, of Proviso. which there shall be previously given at least thirty days notice in some one or more newspapers published in the Eastern Judicial District of the State. (b)

of stock.

SEC. 6. If any stockholder shall fail to so pay the instal-Forfeiture for ments required by the provisions of the foregoing section for non-payment the space of thirty days after the day appointed for the payment of such instalment, the share or shares of each stockholder upon which said instalment shall fail to be paid shall be forfeited to the president and directors, to be disposed of for the use and benefit of said company, and any purchaser of said stock shall become subject to the same rules and regulations as the original stockholder. (b)

SEC. 7. The said company shall have the right and privilege Road to be to construct and complete a railroad, with one or more track constructed. or tracks or sets of rails, for cars, with sufficient weight of iron and proper quality of crossties, string pieces and equipment, for the transportation of passengers, produce, goods and all other articles of freight ordinarily offering between the termini or any station on the road to either terminus thereof, and as soon as practicable after the organization of said company, When to be the president and directors shall proceed to locate the western located. terminus, and cause to be surveyed the route of said railroad Route to be to or near the eastern terminus, and when the distance of fif- surveyed. teen miles is located, shall make the necessary maps, plats and When maps, diagrams, showing the connection, distance of township, range or section lines at section or quarter section corners of the State lands with the line of railroad, and that a copy of said plats and diagrams shall be sent to the President of the Trus- with whom to tees of the Internal Improvement Fund for the use of said trus- be filed. tees. (b)

&c., to be made.

through State

SEC. 8. The right of way is hereby granted to the said com- Right of way pany through the lands enuring to this State under the pro- lands granted. visions of the act of Congress of the 28th September, 1850, for the distance of four hundred feet on each side of the track or line of rails of said road, and any turn-outs of the same, and a fee simple title to said land shall vest in said company for the same as fast as the road is continuously graded; and the right to cut timber. procure the necessary earth and stone from ad- Right to cut jacent lands of the State to construct and repair the same is granted. hereby granted. (b)

SEC. 9. In constructing said railway, it shall and may be lawful for the company, by its proper agents, contractors and

(b) Secs. 5, 6, 7 and 8, Chap. 936, Act of Dec. 31, 1858.

timber, &c.,

Company may take possession

of land and cut

timber, &c.

Lands of individuals not to

be taken without compensation.

On failure to

agree on price, be taken.

servants to enter upon and take possession of any land whatsoever, with the timber, stone or other materials, within four hundred feet of the lines of rail of said road: Provided, That no land shall be taken from private individuals or corporations without adequate compensation to those owning the same; and when the owner or company cannot agree upon a sale or price. or when the owner is an infant, non-resident or non compos mentis, then it shall and may be lawful for the president and proceedings to directors of said company, or their proper agent or agents, on giving twenty days' notice at least, in writing, to the parties owning the same, or to his, her or their agent, if known, and within the county, if not, the same notice in some newspaper published the nearest to the place, to make application to the Judge of Probate in the county in which such lands, stone, timber or other materials may lie, or to the Judge of Probate in the county next adjoining thereto, for a writ of ad quod dam num, which shall be granted and directed to the sheriff of said county, or to the sheriff of the county next adjoining thereto, to summon five disinterested persons, householders, of lawful age, to meet and value the said land, stone, timber or other materials, as the case may be, on oath, to be administered by a Justice of the Peace, whose duty it shall be to attend in person said inquest and receive their report; a majority of a jury of five shall be authorized to assess the value of the land or damages for timber, stone, or other materials, always taking into consideration, however, the benefit the construction of said road will be to the remainder of the tracts of land through which the road passes. If, however, from any cause, a Justice of the Peace does not attend such inquest, then the sheriff shall and may administer the oath and receive the report. The amount thus fixed upon by said valuation or damages, the said Justice of the Peace or sheriff shall receive from the president and directors, or their proper agents, and pay the same over to the person or persons entitled to receive it, and to take When company a title or refusal for the same, and on a tender of the sum may enter upon awarded to the party entitled to receive the same, or to his or session of land. their agent or attorney, it shall and may be lawful for the said

and take pos

paid.

company, by its president and directors, or their agent, to enter upon and take possession of, acquire and use any such lands, timber, stone, and other materials; but all the costs and Costs, by whom expenses incurred by said writ of ad quod damnum and inquest shall be paid by the president and directors of said company: Provided, That the jury or appraisers shall not be allowed more than one dollar each per day whilst engaged in such duties, and the Judge of Probate, Justice of the Peace and sheriff such fees only as are usual in such cases. That all property so assessed. and paid for by the president and directors of said company, agreeably to the provisions of this act, and donations or other property enuring to the said company, shall belong to and become the property of said corporation,

Pay of jurors.
Of Justice and

Sheriff.

Property thus

assessed and

paid for to belong to company.

may transfer stock, how.

Stock and prop

its successors and assigns, in fee simple, in proportion to the number of shares owned by the stockholders respectively. (c) SEC. 10. Any shareholder of said company may and shall Stockholders [have] the right to sell, dispose of and transfer his, her or their interest in the same, or any part thereof, to any other person or persons or corporation, which said transfer shall not be binding unless entered on the books of the company; but the stock of said company and all the property belonging erty of company thereto, or which may from time to time be acquired by said to be held company, shall be held jointly and not separately: Provided, That nothing in this act contained shall be so construed as to Proviso. prevent the profits and dividends which may be declared upon said stock being applied by each stockholder to his, her or their individual purposes. (c)

jointly.

Directors may appoint officers.

May make convide compen

Proviso.

SEC. 11. The president and directors of said company, or a President and majority of them, may appoint all such officers, engineers, conductors and workmen as may be deemed necessary, and dismiss them at pleasure, also make contracts and determine the tracts and procompensation of all persons in the employ of the company: sation. Provided, The compensation has not before been determined by a vote of the majority of the shares of stock in the company at a stockholder's meeting, and the said directors, or a majority of them, upon recommendation and approval by vote May borrow of a majority of the shares of stock in said company, at a stockholder's meeting, are empowered to borrow money to carry into effect the objects of this act, and also to issue certificates May issue certifor other evidences of loan or debt, and also to pledge property icates of loan. of said company for the payment of the same with interest.

(c)

money, when.

SEC. 12. Any number of stockholders, having a majority of who may call shares in the company, may call a meeting of the stockholders, meeting. by giving twenty days' notice in any newspaper published in the Eastern Judicial District of Florida, and shall have power Directors may to remove a director or directors, and to fill all vacancies occa- be removed. sioned by removal or resignation. (c)

tions of land

SEC. 13. For and in consideration of the greatly increased Alternate secvalue the construction of the St. Johns Railway will give to the granted. adjacent State lands, and also to the property of the citizens of St. Augustine and St. Johns county, the State hereby grants to the St. Johns Railway Company, for the purpose of aiding in the construction and equipment of the said railway, all the rights, powers, privileges, title and interest of the State of Florida in the alternate sections of land, embracing the whole of the odd numbers of sections or fractional sections of land which passed to the State of Florida under the provisions of the act of Congress of September 28, 1850, the adjacent line of which is within six miles on each side and from the termini of said railroad; but the fee simple title to the same shall not vest in When title the company except as the road progresses, viz: When one- to vest.

(c) Secs. 9, 10, 11 and 12, Chap. 936, Act of Dec. 31, 1858.