Слике страница


upon paying damages.


Company to pauy may proceed to occups and use said lands for the

purposes herein prescribed, and the right to the same shall be vested in said company upon the final order of the said court, and pavment thereon, and assessments for materials taken, shall be con

ducted in like form and manner. Crossings. SECTION 4. The said company are hereby authorized to erect

aud maintain necessary bridges over any stream or pond of water which said road may cross, and may also cross any public or private roadway without obstructing travel upon the same. and when the said railroad shall intersect any farm, the said company shall provide and keep in repair a suitable passage across the said railroad for the use of said farm. It shall also be the duty of said company, whenever the said railroad shall pass through any enclosed land, to fence and keep in good repair the same on each side of the line of the said railroad, so that the said lands shall not be exposed and thrown open by reason of the said railroad passing through the same, unless by the agreement of the company and the owner or owners thereof the former

shall be released from the duty of fencing as aforesaid. The Company said company are hereby authorized to mortgage their real and gage their personal property in case they deem it necessary in the construc

tion of their road.

SECTION 5. That the Legislature hereby reserves the power of revocation.

Passed at Dover, February 26, 1869.


Power of

[merged small][merged small][ocr errors][merged small][merged small]

Current Vol.


An Act to amend the act entitled, An Act to Incorporate the Delaware and Chester County Railroad Company," passed at Dover, February 5, 1867.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met, (two-thirds of each branch thereof concurring):

SECTION 1. That the name of said corporation be changed

Name changed



amended. Crossings for

land owners.

a mended.

from The Delaware and Chester County Railroad Company to that of “The Wilmington and Western Railroad Company, and shall hereafter be so published in the titie of said act and wherever the name is repeated throughout the several sections thereof.

SECTION 2. That Section 12 of said act be amended by Section 12 striking out all between the word “beginning" in the third line, amended. and the word “such” at the end of the twelfth line of said Sec. tion, and inserting in lieu thereof the following, to wit: “at or where the near the Delaware River within the limits of the City of Wil-road shall be mington, and extending to the line of this State in a westerly direction, by such eligible route (passing through the limestone valley of Hockessin) as will be favorable for connecting with a railroad or railroads leading westward or north-westward in the State of Pennsylvania, together with such turnouts, switches, wharves or piers, and".

SECTION 3. That Section 14 be amended by inserting next Section 1+ after the word "pass,” in the 22d line, as follows: “unless more than one be necessary for obtaining access to all parts of the beuefit of lands of said owner or owners."

SECTION 4. That Section 19 be amended by inserting therein Section 19 next after the word “necessary," at the end of the fourth line, the following, to wit: “and where the said railroad shall pass through improved lands the said company shall erect the said fences whenever practicable before commencing work upon the Fencios. said lands, and shall be liable for damages resulting from neglect to fulfil the requirements of this Section, to be recovered as set forth in Section 14 of this act."

SECTION Õ. That Section 24 of said act be amended by insert- Section 21 ing in the first line thereof, between the words "that " and "in, as follows, to wit: “it shall be lawful for the company hereby incorporated to enter into an agreement with any railroad com- Agreements pany or corporation created by or existing under the laws of the with other

. State of Pennsylvania, for the purpose of authorizing and enabling the said Wilmington and Western Railroad Company to lease, use, operate or run such railroad: Provided, that the companies or corporations entering into such agreement form a continuous line of railroad and".

SECTION 6. That Section 18 of said act be amended by insert- Sectiou 18 ing therein next after the word “same," at the end of the tenth line, the following words, to wit: "bearing any rate of interest terest on deemed advisable by said company, not exceeding eight per cent." rowed.


Passed at Dover, March 10, 1869.

amended, Rate of in

, money bor.




SEC. 1. Cominissioners appointed.

To open books; Who can subscribe.
2. Company incorporated : Naine; Powers.

Banking powers not conferred.
3. Meeting of subscribers to organize com-

4. Aunual meeting of Stockholders.

When and where held.
All elections to be by ballot.

Occasional meetings.
3. Directors; Elections; President; Term.

Secretary and Treasurer: Term.

Bood of Treasurer: Quorum : Vacancies.
6. Meetings, where held.

Powers of Directors.
By-laws; Certificates of stock.

Arsigament of stock.
7. Certificates of stock; Assignable.

Rights of Assignee.
8. I Ostallments; Failure to pay ; Forfeiture.

How recovered; Proviso.
9. Dividends; When declared ; Notice.

Statement of a tfairs of company.

Sec. 10. Company authorized to construct rail

road: Where. May connect with the Junction and

Breakwater Railroad.
11. Refusal of owner to allow land and ma-

terials to be taken.
Application to Superior Court or Judge
Notice: Freeholders to assess damages,
Sworn: Notice of freeholders.
Report; Ad quod damnum; Final.
Upon payment of damages, title of com-

pany absolute; Fees; Paid by whom.
12. Crossings; Fencing.
13. Damages or obstructions.

Civil action for; Indictment for: Fibe. 14. Non election of otficers.

Corporation not dissolved.
Notice of election

Vacancies supplied by Governor.
15. Tax on Capital Stock : When.
16. Public act; Perpetual; Revocation.
17. Legislature may regulate fare, &c.

An Act to Incorporate the Georgetown and Gumborough Railroad



To open


SECTION 1. Be it enacted by the Senate and House of Represen. tatives of the State of Delaware in General Assembly met, (with

the concurrence of two-thirds of each branch of the Legislature), Commission. That Clement C. Hearn, William E. Cannon, Ebenezer Gray, en appoint. Isaac Wootten, Joseph Lewis, William H. Betts, Cornelius D.

West, Nathaniel King, Joseph B. Cannon, William S. Phillips, William 0. Short, William D. Records, Joseph Marvel, Robert M. Rodney and Aaron B. Marvel be and they are hereby appointed coinmissioners to do and perform the several things hereinafter mentioned, that is to say: they, or a majority of them, shall procure and cause to be opened, at such times and places and on such: notice as they may deem proper, suitable books for subscription to the stock of “The Georgetown and Gumborough Railroad Company," and they shall permit all per. sons of lawful age to subscribe in said books, in their own names, or in the name of any other person or company who may authorize the same, for any number of shares in said stock. The capital stock of said company shall not exceed four hundred thousand dollars, divided into sixteen thousand shares of twenty-five dollars each.

SECTION 2. And be it further enacted as aforesaid, That when and as soon as eight hundred shares of capital stock in said company shall be subscribed as aforesaid, the subscribers, their successors and assigns, shall be and they are hereby declared to be incorporated by the name and title of “The Georgetown and

[ocr errors]

Who can subscribe.

Company incorporated.




subscribers to organiza

Gumborough Railroad Company," and by the same name the subscribers shall have perpetual succession and be able to sue and be sued, plead and be impleaded in all courts of record and Powers. elsewhere, and to purchase, receive, have, hold and enjoy to them and their successors real and personal estate of every kind whatsoever, and the same to grant, mortgage, sell, alien and dispose of, and to declare dividends of such portions of the profits of the company as they may deem proper, also to make and have a common seal and the same to alter and renew at pleasure, and also to make and ordain by-laws and regulations for the government of the said corporation not inconsistent with the constitu. tion and laws of the United States or of this State, and generally to do all and singular the matters and things which to them it shall lawfully appertain to do for the well being and ordering of the same: Provided, That nothing herein contained shall confer Banking any banking privileges on the said company, or any other liber-powerpoint ties, franchises or privileges but those which are properly inci. dent to such a corporation.

SECTION 3. And be it further enacted as aforesaid, That as Meeting of soon as eight hundred shares shall be subscribed as aforesaid, the said commissioners, after giving at least ten days notice thereof company. in two or more newspapers published in this State, shall call a meeting of the said subscribers, in Gumborough, to organize the said company by the choice and appointment of officers as hereinafter mentioned.

SECTION 4. And be it further enacted as aforesaid, That there Annual shall be an annual meeting of stockholders on the second Monday Stockholders in January in every year, in the Village of Gumborough, for the When and purpose of electing directors and for the transacting of other business. In all meetings of the stockholders regularly convened, those present may proceed to business and all questions shall be determined by a majority of the votes given. All elections by stockholders shall be by ballot and all votes shall be given in all electivas person or by proxy, and each share of stock shall entitle the owner to one vote. Occasional meetings of the stockholders may Occasional be called, and at such places as the president and directors may meetinga deem expedient.

SECTION 5. And be it further enacted as aforesaid, That at the first meeting of the stockholders to be held under the call of the said commissioners, and at every annual meeting of the stockholders to be held thereafter as aforesaid, they shall elect seven Directors. directors, a majority of whom shall be citizens of this state, and all of them stockholders in the said company. The first election Elections. of directors shall be conducted by two of the said commissioners as the judges thereof, and all subsequent elections of said officers


to be by ballot.




and Treasu.

Bord of


where beld.

shall be conducted by two of the stockholders not in the board, to be appointed by the directors for the time being, as judges for

that purpose. The directors, immediately after their election, President. shall proceed to choose one of their number to be the president

of their company and of the said board; and their term of office shall be until the annual meeting of the stockholders succeeding their election, and until their successors shall be duly chosen.

The directors shall also appoint, immediately after their election, Secretary a secretary and treasurer of the said company, who shall continue

in office for the term as aforesaid and until their successors shall be duly appointed, unless sooner removed, for a sufficient cause, by the directors. They shall require of the treasurer, on his appointment, a bond, with sufficient security, for the proper performance of the duties of his office and the faithful discharge of the trust reposed in him by the said company. A majority of the whole number of directors shall constitute a quorum for the transacting

of business, and in the absence of the president may appoint a Vacancies. chairman of the board pro tempore. Vacancies in the board of

directors, and in the offices of president, secretary and treasurer, may be filled by the remaining directors, to continue as afore.

sail. Meetings, SECTION 6. And be it further enacted as aforesaid, That the said

president and directors shall hold their meetings in the Village

of Gumborough, and in such other places as they may deem Powers of expedient, on the line of the said road; and the said directors

shali have the general direction, conduct and management of the property, business and operations of the said company, and for that purpose shall have power to appoint, engage and employ all such officers, and agents, engineers, contractors, workmen and laborers, as they shall deem necessary, and to fix salaries of all officers in the corporation, and the cornpensation and wages of all persons employed by them as aforesaid, and to take bond from them or any of them, with security, for the faithful performance of their duties or contracts; to procure such materials, erect such structures and buildings, and to purchase or employ such engines, cars and other equipments and supplies for the road, and for that purpose to make and enter into such contracts and agreements with other persons and companies as they may consider expedient and proper and best adapted to promote the objects and subserve the interest of the said company; they shall have full powers to do all acts that may be necessary to effect the purposes for which the said company is hereby incorporated, and to this end raise the capital stock and funds of the said company, and to bind by their contracts, under the seal of their corporation and the hand of the president, all the property and estate of the said


« ПретходнаНастави »