Bridges to be built. Limitation of tolls, &c. What real pany may SEC. 12. And be it enacted, That the said corporation may construct the said railroad across or upon any road or highway, stream of water or watercourse, if the same be necessary; but the said corporation shall restore such road, highway, or stream of water, or watercourse, to such state or condition as not to impair its usefulness; provided always, that in case the said company shall deem it expedient to cross any navigable river with the said railroad, they shall be at liberty to erect and build a bridge for that purpose over the said river, with a draw therein of at least thirty feet width; and, for the safety of persons navigating said river, the said company shall cause to be kept near the said draw one or more lamps, which shall be lighted every evening thereafter before it grows dark, and continue lighted till daylight, at the expense of said company, and shall keep, or cause to be kept, at such bridge a careful person to open such draw for the free passage of vessels with standing masts; and for each and every neglect to light the said lamp or lamps for one night, and to open said draw, the directors of the said company shall forfeit and pay the sum of ten dollars, to be recovered with cost, in any court having jurisdiction thereof, by any person who shall sue for the same within six months after the time of such neglect. SEC.. 13. And be it enacted, That the president and directors of the said company shall have power to have constructed, or to purchase with the funds of the company, and to place on any railroad constructed by them, all machines, engines, wagons, carriages, and vehicles, for the transportation of persons or any spe cies of property thereon, that they may think reasonable, expe dient, and right; provided, that they shall not charge more than at the rate of six cents per mile per ton for the transportation of property on the said road or roads, or six cents per mile for carrying each passenger on said railways, in the carriages of the company; provided also, that the said company shall not be authorized to charge more than the sum of one dollar and twen ty-five cents for each and every passenger carried on said road from and to the cities of New Brunswick and New York. SEC. 14. And be it enacted, That the said company may estate com- have and hold real estate, at the commencement and terminations of said road or roads, not exceeding three acres at each place, and may erect and build thereon houses, warehouses, 14 stables, machine shops, and other buildings and improvements, 9 injuring road SEC. 15. And be it enacted, That if any person or persons Penalty for shall wilfully or maliciously injure the said railroad, or any or property. building, machinery, or other work of the said corporation, appertaining thereto, such person shall forfeit and pay therefor, to the said corporation three times the amount of the damages sustained by means of such offence or injury, to be recovered in the name of the said corporation, with costs of suit, in any court having cognizance of the same. to be filed. SEC. 16. And be it enacted, That on the first day of January Cost of road next, after the completion of the said roads, the president and treasurer, and a majority of the directors of the said corporation, shall exhibit to the governor of this state, on oath or affirmation, a true and perfect account of all the cost and expenditure of said corporation, in making said railroad, and the same shall be filed in the office of the secretary of this state, and the amount therein specified shall be deemed and taken to be the true value of said road; and it shall be the duty of the treasurer of the said corporation, under his oath or affirmation, to make thereafter annual returns of the number of passengers, the number of tons of goods, wares, and merchandises transported upon said railroad, to the treasurer of this state. ment of rail made at the years, SEC. 17. And be it enacted, That at any time after the expi- Appraise. ration of thirty years from the completion of the said road, the road to be legislature of this state may cause an appraisement of the said end of thirty road, and the appendages thereof, to be made by six persons, three of whom shall be appointed by the chief justice of this state for the time being, the remaining three by the company, who, or a majority of them, shall report the value thereof to the legislature, within one year from the time of their appointment; or if they cannot agree, they shall choose a seventh, who, with the aforesaid six, shall report as aforesaid; or in case the said State may take road upon pay. ment of ap company shall neglect or refuse to appoint the said three persons, on their part, for two months after the said appointment by the said chief justice, then the three persons so appointed by him shall proceed to make such appraisement, which shall be binding on the said company; or in case the said six commissioners shall be appointed as aforesaid, and they cannot agree upon the seventh man, then, upon two weeks' notice to the said company, the said chief justice shall appoint such seventh man, as aforesaid, to make such appraisement as aforesaid; and thereupon the state shall have the privilege, for three years, of taking the said road, upon the payment to the company of the amount praisement. of the said report within one year after electing to take said road, which report shall be filed in the office of the secretary of this state; and the whole property and interest of said road, and the appendages thereof, shall be vested in the state of New Jersey, upon the payment of the amount so reported to the said company; and that it shall be the duty of the president of the company to lay before the legislature, under oath or affirmation, when they shall so request, a full and fair statement of the costs of the said road, and of all the receipts and disbursements of the Valuation to company; provided always, that the aforesaid valuation shall be without re- made without reference to the receipts or disbursements of the advance of company, or advance of the stock; and the said valuation shall in no case exceed the first cost of the said railroad, with the lands and appendages thereof. be made ference to stock. When tax to be paid. Proviso. SEC. 18. And be it enacted, That from and after the completion of the said railroad, and after the expiration of five years, the said corporation shall pay into the treasury of this state, yearly and every year, a tax of one quarter of one per cent. upon their capital stock paid in; and after the expiration of ten years, a tax of one half of one per cent, upon the true amount of the capital stock of said company; and that no other or further tax or imposition shall be levied or imposed upon the said company; provided nevertheless, that, in addition to the above, if at any time hereafter any railroad shall intersect or be attached to the railroad hereby established, so as to make a continued line of railroads, carrying passengers across the state of New Jersey between the states of New York and Pennsylvania, respectively, then it shall be the duty of the treasurer of the company hereby chartered, under oath or affirmation, to make transit duties quarterly returns of the number of passengers, and the number when quarterly returns of tons of goods, wares, and merchandise transported over the made, and whole line of the road hereby chartered, to the treasurer of this paid to state. state for the time being, and thereupon to pay the said treasurer of this state at the rate of eight cents for each and every passenger, and the sum of twelve cents for each and every ton of goods, wares, and merchandise so transported thereon in manner aforesaid. stockholders ed. SEC. 19. And be it enacted, That it shall and may be lawful Meeting of for the president and directors for the time being, whenever may be callthey may deem it expedient, to call a special meeting of the stockholders, by giving the like notice, as herein before directed, for choosing directors, specifying therein the object of said meeting; but that no business shall be transacted by such meeting, unless there be present a majority, in value, of the stockholders, who may require any books, accounts, securities, or other papers of said corporation to be exhibited before them. public roads structed. SEC. 20. And be it enacted, That it shall be the duty of the Passage over said company to construct and keep in repair good and suffi- not to be ob cient bridges or passages over or under the said railroad or roads, where any public or other road shall cross the same, so that the passage of carriages, horses, and cattle on said road shall not be impeded, thereby; and also, where the said road. shall intersect any farm or lands of any individual, to provide and keep in repair suitable wagon ways over or under said road, so that they may pass and repass to and from the same. SEC. 21. And be it enacted, That the state shall have the pri- See act of vilege of subscribing for one-fourth of the capital stock of this company, and shall have the appointment of three of the said directors of the company to represent the same; but if the said stock shall not be subscribed for within two years after the location of the route of said road shall have been fixed and determined upon, and filed in the office of the secretary of state, then the right to subscribe therefor by the state shall cease. Jan. 26, 1837, SEC. 22. And be it enacted, That this act shall be deemed and Public act. taken as a public act, and shall at all times be recognized as such in all courts and places whatsoever.. to be em. SEC. 23. And be it enacted, That no part of the funds of this Capital not company shall be used for banking or other purposes, not plainly ployed in indicated by the provisions of this act. F* banking, Preamble, Trustees of free schools N. J. Proviso. An Act relative to the New Jersey Railroad and Transportation Company. Passed January 26, 1837. WHEREAS the privilege of subscribing for one-fourth of the capital stock of the New Jersey Railroad and Transportation Company, amounting to the sum of three hundred and seventyfive thousand dollars, secured to the state by the twenty-first section of the act entitled, "An act to incorporate the New Jersey Railroad and Transportation Company," passed the seventh day of March, one thousand eight hundred and thirtytwo, will expire before the next session of the legislature. thereby requiring the action of the present legislature upon the subject; and whereas the said company are willing, in case the state will relinquish a portion of the stock, reserved as aforesaid, equal to the amount of two hundred and seventyfive thousand dollars, and loan the company the sum of one hundred thousand dollars, at a rate of interest of six per cent. per annum, to extend to the state the privilege of investing in their stock an amount equal to the amount of said loan, for a term not exceeding seven years; and it appearing that such loan would be safe and advantageous to the interests of the statenow therefore, SEC. 1. BE IT ENACTED by the Council and General Assembly 000 to 3 of this State, and it is hereby enacted by the authority of the Railroad Co. same, That the trustees for the support of free schools be, and they are hereby authorized and directed to loan, on good and sufficient security, to the New Jersey Railroad and Transportation Company the sum of one hundred thousand dollars, at the rate of interest of six per cent. per annum, payable half-yearly, to be returned by the said company, at any time, on twelve months' notice being given them for that purpose; provided, the said company will, at the time the said loan is made, secure to the state the privilege of investing the amount of said loan in their capital stock, at par, at any time during the term of seven years from the passing of this act, at the discretion of the legis lature of this state; and in case such investment shall be made, the state shall have the appointment of one of the directors of said company, said appointment to be made by the governor, or the person administering the government. Part of former act re pealed. SEC. 2. And be it enacted, That the twenty-first section of the aforesaid act incorporating said company, except so far as is herein before provided for, be, and the same is hereby repealed. |