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I Sect. 8. The Essex Railroad Company are au2 thorized to build and maintain so much of the route 3 described in the second section of this act, as is in4 cluded between Salem and the New Mills in Danvers: 5 provided, that said Essex Company allow the com6 pany hereby created to maintain an independent track 7 over their road-bed, between Salem and the New 8 Mills, as aforesaid.

I Sect. 9. This act shall take effect from and after 2 its passage.

[Reported by the Committee on Railways and Canals.]

Commoniutaiti) of jūaggātūttgtttg.

In the Year One Thousand Eight Hundred and FortyEight.

AN ACT

To establish the Salisbury and East Kingston 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. Luther D. Peaslee, Samuel Webster, 2 Rufus Dow, their associates and successors, are here3 by made a corporation, by the name of the Salisbury 4 and East Kingston Railroad Company, with all the 5 powers and privileges, and subject to all the duties, 6 liabilities, and provisions, contained in the forty-fourth

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chapter of the Revised Statutes, and in that part of the thirty-ninth chapter of the Revised Statutes which relates to railroad corporations, and other subsequent acts, which have been or may be passed, relating to railroad corporations. And the said corporation is hereby authorized and empowered to locate, construct, and finally complete, a railroad, with one or more tracks, from some point in Salisbury, near the enginehouse or depot of the Salisbury Branch Railroad Company; thence running a northerly direction, to the boundary line between the Commonwealth of Massachusetts and the State of New Hampshire.

SECT. 2. The capital stock of said railroad company shall consist of not more than four hundred shares, the number of which shall be determined, from time to time, by the directors thereof, and no assessment shall be laid thercon, of a greater amount, in the whole, than one hundred dollars on each share. And the said corporation may purchase and hold such real estate on the line, and at the termination of said road, and such materials, cars, engines, and other things, as may be necessary for depots, for the use of said road, and for the transportation of persons, goods, and merchandise. And the said corporation may make such arrangements with the Boston and Maine Railroad or the Eastern Railroad, either by the sale or transfer of the whole or part of the franchise hereby granted, or by the sale or lease of the whole or part of said road, as may be mutually agreed on by the directors of said corporations; and, in such case, said Boston and Maine Railroad, or said Eastern Railroad, may

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transport passengers on said Salisbury and East Kingston Railroad, with the same privileges as upon the residue of their line. And the said Salisbury and East Kingston Railroad are hereby authorized to enter, with their railroad, upon such part of the Salisbury Branch Railroad, in Salisbury, as shall be deemed most expedient, paying, for the right to use the same, or any part thereof, such rate of toll as the legislature may, from time to time, prescribe, and complying with such rules and regulations as may, from time to time, be adopted by the directors of the Eastern Railroad.

SECT. 3. If the location of said road be not filed, according to law, within two years, or if said company shall not complete said road to the extent provided for in the first section of this act, with at least one track, within three years from the date of the same, then this act shall be null and void.

SECT. 4. The legislature may authorize any company to enter, with another railroad, at any point of said Salisbury and East Kingston Railroad, and use the same, or any part thereof, paying therefor such a rate of toll or compensation as the legislature may, from time to time, prescribe, or that may be fixed under the provisions of any general law of this Commonwealth, complying with such rules and regulations as may be established by said Salisbury and East Kingston Railroad Company; and the legislature may, after the expiration of five years from the time when the said railroad shall be opened for use, from time to time, reduce the rate of tolls or other profits

14 upon said railroad; but said tolls shall not, without 15 the consent of said corporation, be reduced so as to

16 produce, with said profits, less than ten per cent. per 17 annum.

1 SECT. 5. This act shall take effect from and after 2 its passage.

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