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RONDOUT AND OSWEGO RAILROAD:
An act to authorize certain towns in the counties of Ulster, Delaware, Greene and Schoharie to issue bonds and take stock in ; chap. 648, Laws of 1866.
SCHENECTADY TO OGDENSBURGH:
An act to authorize a survey for a route of a railroad from the city of Schenectady to a point on the St. Lawrence river at or near the village of Ogdensburgh ; chap. 897, Laws of 1866.
SENECA FALLS AND WATERLOO RAILROAD:
An act to authorize the construction of ; chap. 197, Laws of 1866.
SENECA STREET RAILROAD :
An act to further confirm certain acts of the Common Council of the city of Buffalo, in relation to a railroad in Seneca street, in said city; chap. 375, Laws of 1866.
SKANEATELES RAILROAD COMPANY :
An act for the incorporation of, and to authorize the same to construct and operate a railroad from the village of Skaneateles to Skaneateles junction; chap. 635, Laws of 1866.
An act to facilitate the construction of, and to regulate the weight of rails for the same; chap. 662, Laws of 1866.
SOUTHERN CENTRAL RAILROAD :
An act to facilitate the construction of, and to authorize towns to subscribe to the capital stock thereof; chap. 443, Laws of 1866.
SOUTHSIDE RAILROAD, OF LONG ISLAND:
An act to extend the time for the completion of, and to increase the capital stock of; chap. 135, Laws of 1866.
SYRACUSE AND ONONDAGA VALLEY RAILROAD :
An act to authorize the construction of a railroad through certain streets in the city of Syracuse, and to the Onondaga valley, in the county of Onondaga; chap. 384, Laws of 1866.
An act to amend chapter 340 of the Laws of 1863, relative to a railroad in certain streets in the city of Syracuse and town of Onondaga ; chap. 582, Laws of 1866.
Towns: SUBSCRIPTIONS TO CERTAIN RAILROADS :
An act in relation to the safe keeping and filing of the assent to town subscriptions to facilitate the completion or construction of certain railroads in this State ; chap. 695, Laws of 1866.
TROY AND ALBIA HORSE RAILROAD COMPANY:
An act in relation to; chap. 334, Laws of 1866.
UTICA, CHENANGO AND SUSQUEHANNA VALLEY RAILROAD :
An act to authorize the city of Utica to take stock in, and to sell its bonds to provide for the payment thereof; chap. 50, Laws of 1866.
An act to authorize certain towns in the counties of Oneida, Herkimer, Madison, Otsego and Chenango to issue bonds and take stock in; chap. 364, Laws of 1866.
An act in relation to ; empowering it to apply for appraisal of land, on complying with certain conditions ; chap. 664, Laws of 1866.
UTICA AND BLACK RIVER RAILROAD COMPANY :
An act for the relief of; chap. 327, Laws of 1866.
An act to authorize certain towns in the counties of Jefferson and Lewis to issue bonds, and take, for said towns, capital stock therein ; chap 624, Laws of 1866.
UTICA OITY RAILROAD COMPANY :
An act for the relief of; empowering it to apply for appraisal of land on complying with certain conditions ; chap. 827, Laws of 1866.
WALLKILL VALLEY RAILRAD :
An act to authorize certain towns in the counties of Ulster and Orange to issue bonds and take stock in; chap. 880, Laws of 1866.
WARWICK VALLEY RAILROAD COMPAAY :
An act to authorize the Warwick Valley Railroad Company to extend their railroad to the line of the State of New Jersey ; chap. 620, Laws of 1866.
WEST FARMS AND MORRISANIA :
An act to amend chapter 361 of the Laws of 1863, entitled "An act to authorize the construction of a railway and tracks in the towns of West Farms and Morrisania," passed May 2, 1863; chap. 815, Laws of 1866.
WILLIAMSBURGH AND FLATBUSH RAILROAD COMPANY :
An act for the relief of; chap. 771, Laws of 1866.
Cháp. 140. AN ACT to authorize the formation of railroad corporations, and to regulate the same.
Passed April 2, 1850, "three-fifths being present." The People of the State of New York, represented in Senate and Assembly, do enact as follows:
SECTION 1. Any number of persons, not less than twenty-five, may form a company for the purpose of constructing, maintaining and operating a railroad for public use in the conveyance of persons and property, or for the purpose of maintaining and operating any unincorporated railroad already constructed for the like public use; and for that purpose may make and sign articles of association, in which shall be stated the name of the company; the number of years the same is to continue; the places from and to which the road is to be constructed, or maintained and operated; the length of such road as near as may be, and the name of each county in this state through or into which it is made, or intended to be made; the amount of the capital stock of the company, which shall not be less than ten thousand dollars for every mile of road constructed, or proposed to be constructed, and the number of shares of which said capital stock shall consist, and the names and places of residence of thirteen directors of the company, who shall manage its affairs for the first year, and until others are chosen in their places. Each subscriber to such articles of association shall subscribe thereto his name, place of residence, and the number of shares of stock he agrees to take in said company. On compliance with the provisions of the next section, such articles of association may be filed in the office of the secretary of state, who shall endorse thereon the day they are filed, and record the same in a book to be provided by him for that purpose; and thereupon the persons who have so subscribed such articles of association, and all persons who shall become stockholders in such company, shall be a corporation by the name specified in such articles of association, and shall possess the powers and privileges granted to corporations, and be subject to the provisions contained in title three of chapter eighteen of the first part of the Revised Statutes, except the provisions contained in the seventh section of the said title.
§ 2. Such articles of association shall not be filed and recorded in the office of the secretary of state, until at least one thousand dollars of stock for every mile of railroad proposed to be made is subscribed
thereto, and ten per cent paid thereon in good faith, and in cash, to the directors named in said articles of association; nor until there is endorsed thereon, or annexed thereto, an affidavit made by at least three of the directors named in said articles, that the amount of stock required by this section has been in good faith subscribed, and ten per cent paid in cash thereon as aforesaid, and that it is intended in good faith to construct or to maintain and operate the road mentioned in such articles of association, which affidavit shall be recorded with the articles of association, as aforesaid.
83. A copy of any articles of association filed and recorded in pursuance with this act, or of the record thereof, with a copy of the affidavit aforesaid endorsed thereon or annexed thereto, and certified to be a copy by the secretary of this state, or his deputy, shall be presumptive evidence of the incorporation of such company, and of the facts therein stated.
§ 4. When such articles of association and affidavit are filed and recorded in the office of the secretary of state, the directors named in said articles of association may, in case the whole of the capital stock is not before subscribed, open books of subscription to fill up the capital stock of the company, in such places and after giving such notice as they may deem expedient, and may continue to receive subscriptions until the whole capital stock is subscribed. At the time of subscribing, every subscriber shall pay to the directors ten per cent on the amount subscribed by him, in money; and no subscription shall be received or taken without such payment.
$ 5. There shall be a board of thirteen directors of every corporation formed under this act, to manage its affairs. Said directors shall be chosen annually, by a majority of the votes of the stockholders voting at such election, in such manner as may be prescribed in the by-laws of the corporation, and they may and shall continue to be directors until others are elected in their places. In the election of directors, each stockholder shall be entitled to one vote for each share of stock held by him. Vacancies in the board of directors shall be filled in such manner as shall be prescribed by the by-laws of the corporation. Every corporation formed under this act shall be subject to the regulations concerning the election of directors of moneyed corporations, contained in article second of the second title of the eighteenth chapter of the first part of the Revised Statutes. The inspectors of the first election of directors shall be appointed by the board of directors named in the articles of association. No person shall be a director, unless he shall be a stockholder, owning stock absolutely in his own right, and qualified to vote for directors at the