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stated, that that road objected to so much of the petition as had for its object the construction of a road from South Danvers to South Reading, but was understood to raise no objection to a road from Salem to Lowell. The counsel for the Essex road objected to the Wakefield route, as forming a competing line with that road, while he favored the petition for the Cabot line, for a road running some miles nearer the Essex road, than would the Wakefield. The Committee were unable to discover how the Wakefield road was to prove a more dangerous rival than the Cabot, as the distance from Salem to Lawrence is greater by the Wakefield than by the Cabot line, and more especially, if the same restrictions were te be placed upon both roads, at their crossing of the Boston and Maine Railroad. Your Committee, therefore, after a careful examination of all the testimony presented, and the relative merits of the two routes, have arrived at the following conclusions:— 1st. That the Cabot line possesses no merit over the other as an independent line. 2d. That the difference in the length of the routes, being only forty-eight hundreths of a mile, is too inconsiderable to have any important bearing in deciding this case. 3d. That the difference in the grade, the highest on the Cabot line being twenty-five feet, while that on the Wakefield route is forty feet, which it was in evidence could be reduced to twenty-eight feet, being fifteen feet without this reduction in favor of the Cabot line, is of less importance in this case, than it would be, if a very large business was contemplated upon this road, and does not therefore outweigh other considerations. 4th. That the expense of constructing the Cabot road from Danvers to Tewksbury, would be as great, if not greater, (as the road is longer,) than would be the expense required for the construction of the Wakefield road, and this aside from any expense for a track by the side of the Lowell and Lawrence road from Tewksbury to Lowell. 5th. That, while the citizens of the cities of Salem and Lowell would be equally well accommodated by either route, yet the Wakefield route would accommodate the greater amount of
way business. On the petition of Horace P. Wakefield and others, the Com
mittee report the accompanying Bill.
For a majority of the Committee,
Comintoníntalti) of jūāgāātūttgtttg.
In the Year One Thousand Eight Hundred and FortyEight,
To incorporate the Lowell and Salem Union Railroad Company.
BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the same, as follows:
1 SECT. 1. Horace P. Wakefield, Thomas P. Pin2 gree, and Samuel Lawrence, their associates and suc3 cessors, are hereby made a corporation, by the name 4 of the Lowell and Salem Union Railroad Company, 5 with all the powers and privileges, and subject to all 6 the duties, liabilities, and restrictions, set forth in 7 the forty-fourth chapter of the Revised Statutes, and 8 in that part of the thirty-ninth chapter of the Revised 9 Statutes relating to railroad corporations, and in all 10 general laws that have been, or shall hereafter be, 11 passed relating to railroad corporations. ~. 1 SECT. 2. The said company may construct and 2 maintain a railroad from some convenient point in the 3 Essex Railroad in South Danvers ; thence, running in 4 a northwesterly direction towards Humphrey’s Pond, 5 and by said pond on the southerly side thereof; 6 thence, through Lynnfield and through Reading, 7 passing northerly of the village in the south parish of 8 said Reading, crossing the Boston and Maine Rail9 road, but not to connect there with, and thence to the 10 Boston and Lowell Railroad, at Wilmington, near the 11 present passenger station of said road.
1 SECT. 3. The capital stock of said company shall 2 consist of not more than three thousand five hundred 3 shares, the number of which shall be determined from 4 time to time by the directors thereof; and no assess5 ments shall be laid thereon of greater amount in the 6 whole than one hundred dollars on each share ; and 7 said company may take, purchase and hold such real 8 estate, and may purchase and hold such engines, cars 9 and other things, as may be necessary for the use of 10 said railroad, and for the transportation of passen11 gers, goods and merchandise.
1 SECT. 4. If the location of the road, as provided 2 for in the second section, be not filed, according to 3 law, in two years, and the said railroad be not com4 pleted in two years from the passage of this act, 5 then the same shall be void.
1 SECT. 5. The said company are hereby author2 ized to enter upon and unite their railroad, by proper 3 turnouts and switches, with the Essex Railroad, at
4 South Danvers, and also to enter upon and unite their 5 road with the Boston and Lowell Railroad, at Wil6 mington, and to use said Boston and Lowell Railroad, 7 and said Essex Railroad, or any part thereof, accord8 ing to law.
1 SECT. 6. The legislature may authorize any rail2 road company to enter upon said road or any part 3 thereof, and use the same according to law.
I SECT. 7. The legislature may, after the expira2 tion of five years from the time when said railroad 3 shall be opened for use, from time to time, reduce 4 the rates of toll, or other profits upon said railroad ; 5 but the same shall not be so reduced, without the con6 sent of said company, as to produce less than ten per 7 cent. per annum on their capital stock.