HOUSE.....No. 212.

Commonwealth of Massachusetts.

In the Year One Thousand Eight Hundred and FortyEight.

AN ACT

To incorporate the Troy and Greenfield Railroad Com

pany.

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. George Grennell, Roger H. Leavitt, 2 Samuel H. Reed, James E. Marshall, Henry Chap3 man, Alvah Crocker, Jonas C. Heartt, Abel Phelps, 4 Asahel Foot, Ebenezer G. Lamson, and Daniel W. 5 Alvord, with their associates and successors, are here6 by made a corporation, by the name of the Troy and 7 Greenfield Railroad Company, with all the powers 8 and privileges, and subject to all the duties, liabilities,

9 and restrictions, set forth in the forty-fourth chapter 10 of the Revised Statutes, and in that part of the thir11 ty-ninth chapter thereof relating to railroad corpora12 tions, and other general laws which have been, or 13 shall be hereafter passed, relative to railroad corpora14 tions.

1 SECT. 2. Said company are hereby authorized to 2 locate, construct, and maintain a railroad, with one 3 or more tracks, from some convenient point on the 4 Vermont and Massachusetts Railroad, at or near the 5 termination of said railroad in Greenfield, through any 6 or all of the following towns, viz :-Greenfield, Deer7 field, Conway, Shelburne, Buckland, Colerain, Char8 lemont, Hawley, Rowe, and Monroe, in the county 9 of Franklin, and Savoy, Florida, Adams, Clarksburg, 10 and Williamstown, in the county of Berkshire, to 11 some point on the line of the state of New York or of 12 Vermont, convenient to meet, or connect with, any 13 railroad that may be constructed, from any point at or 14 near the city of Troy, on the Hudson River, in the 15 state of New York.

1 SECT. 3. The said company may, with their rail2 road, unite with, and enter upon, the Vermont and 3 Massachusetts Railroad, at or near the termination 4 thereof, as aforesaid, and may likewise enter upon, 5 cross, and use, the railroad of the Connecticut River 6 Railroad Company, in and near the town of Green7 field, (not, however, interfering with the depot build8 ings of either of said companies,) on such terms as 9 may be agreed upon between the corporation hereby 10 created and the aforesaid companies respectively, or 11 as may be prescribed by law.

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SECT. 4. The capital stock of the said company 2 shall consist of not more than thirty-five thousand 3 shares, the number of which shall, from time to time, 4 be determined by the directors thereof; and no assess5 ment shall be laid, of a greater amount thereon, in the 6 whole, than one hundred dollars, on each share. And 7 the said company may purchase and hold such real and 8 personal estate as may be necessary for the purposes 9 of their incorporation.

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SECT. 5. If the location of said road shall not be 2 filed within two years, in the manner prescribed by 3 law, or if the said railroad shall not be constructed 4 within seven years from the passage of this act, then 5 the same shall be void.

1 SECT. 6. The legislature may authorize any railroad 2 company to enter, with their railroad, upon the Troy 3 and Greenfield Railroad, on such terms as may be 4 agreed upon by said companies, or as may be pre5 scribed by the provisions of law.

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SECT. 7. The legislature may, after the expiration 2 of five years from the time when such railroad shall be 3 opened for use, from time to time, alter and reduce 4 the rate of toll, or profits, upon said road; but said 5 toll shall not be so reduced, without the consent of 6 said company, as to produce, with said profits, less 7 than ten per cent. per annum, upon the investments 8 of the said company.

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SECT. 8. The said corporation may contract with 2 the owners of any contiguous railroad leading into or

3 from either of the states of Vermont or New York, for 4 the use of the whole or any part thereof, or for the 5 running and operating the two railroads conjointly, or 6 for the leasing of such contiguous road, or for the 7 letting or hiring of their own road to the owners of 8 such contiguous road, or of any other road which 9 composes a part of the railroad line between the cities 10 of Boston and Troy, of which the railroad hereby au11 thorized shall be a part.

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SECT. 9. The Troy and Greenfield Railroad Com2 pany shall, within one year after the opening of their 3 road for use, purchase and take an assignment of the 4 lease and contract of transportation, made and exe5 cuted between the Western Railroad Corporation and 6 the Pittsfield and North Adams Railroad Corporation, 7 on the thirtieth day of January, one thousand eight 8 hundred and forty-six; and have all the advantages, 9 and assume all the liabilities, accruing under and by 10 virtue of said lease: provided, the said Western Rail11 road Corporation shall perform their covenants in said 12 lease, to keep said road, and other property therewith 13 connected, in repair, until such assignment; and 14 shall, within six months after the said Troy and 15 Greenfield Railroad Company shall have filed the lo16 cation of their road, according to law, and shall have 17 raised, by subscription, one million of dollars, for the 18 construction of the same, signify, in writing, their 19 election to make such assignment: and provided, 20 that, at the time of such assignment, there shall 21 be secured to said Western Railroad Corporation, by 22 a proper instrument, a lien or mortgage upon all 23 their rights in said Pittsfield and North Adams rail

24 road, as collateral security for the performance of all 25 the obligations of said corporation, contained in said 26 lease and contract of transportation: and provided 27 also, that, after the completion of the said Troy and 28 Greenfield railroad, the said Western Railroad Cor29 poration shall assign and convey, to the said Troy and 30 Greenfield Railroad Company, the said contract of 31 transportation, according to the terms of this sec32 tion, if the said Troy and Greenfield Railroad Com33 pany shall so elect.

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SECT. 10. This act shall take effect from and after 2 its passage.

Passed to be engrossed.

Sent down for concurrence.

SENATE, May 2, 1848.

CHAS. CALHOUN, Clerk.