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CONCERNING RAILROADS.

the time actually needed for the erection of bridges, crossings, or other works, shall not be construed to come under the provisions of this act when a good and sufficient temporary road is provided, as contemplated in Section 3 of this act.

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An Act to Incorporate the River Front Railroad Company.

SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met, (twoCommission-thirds of each branch concurring therein), That Jesse Sharpe, ers appoint James Bradford, E. Tatnall Warner, Francis Barry, Eli Garrett,

ed.

To open

books.

John Morton Poole, Edwin A. Harvey, William G. Gibbons and Henry G. Banning be and they are hereby appointed commissioners to do and perform the things hereinafter mentioned, that is to say they, or a majority of them, shall procure and cause to be opened, at such times and places and on such notice as

:

CONCERNING RAILROADS.

subscribe.

they may deem proper, suitable books for subscription to the stock of "The River Front Railroad Company," and shall permit all persons of lawful age to subscribe in said books, in their own who may names, or in the name of any other person or company who may authorize the same, for any number of shares in said stock. The capital stock of said company shall not exceed sixty thousand Capital stock dollars, and shall be divided into six hundred shares of one hundred dollars each: Provided, that the said company may, from time to time, by a vote of the stockholders, at a meeting called

for that purpose, increase the capital stock to any amount not Power to inexceeding two hundred thousand dollars.

crease.

shares are

incorporated

powers.

SECTION 2. And be it further enacted as aforesaid, That so When 50% soon as three hundred shares of capital stock in the said company subscribed shall have been subscribed as aforesaid, the subscribers, their subscribers successors and assigns, shall be and they are hereby declared to be incorporated by the name and title of "The River Front Name. Railroad Company," and by that name shall have perpetual suc cession and be able to sue and be sued, plead and be impleaded Corporate in all courts of record and elsewhere, and to purchase, receive. have, hold and enjoy to them, their successors and assigns, real and personal estate of every kind whatsoever, and the same to grant, mortgage, sell, alien and dispose of, and to declare dividends of such portions of the property of the company as they may deem proper, also to have a common seal and power to renew and alter the same, and to make by-laws for the government of the said corporation not inconsistent with the constitution and laws of the United States or of this State, and generally to do all matters and things lawful to be done for the well ordering of the said company: Provided, That nothing herein con- Banking tained shall confer any banking privilege on the said company. hibited. SECTION 3. That as soon as three hundred shares shall have Meeting of been subscribed as aforesaid, the said commissioners, after giving to organize at least ten days notice thereof in two or more newspapers pub-company. lished in this State, shall call a meeting of the said subscribers. in the City of Wilmington, to organize the said company by the appointment of officers as hereinafter mentioned.

powers pro

subscribers

where held.

SECTION 4. That there shall be an annual meeting of stock- Annual holders on the second Monday in January in every year, in the stockholders. City of Wilmington, for the purpose of electing directors and When and for the transaction of other business. And in all meetings of the stockholders regularly convened, those present may proceed to business and all questions shall be determined by a majority of the votes given. All elections by stockholders shall be by Elections to ballot and all votes shall be given in person or by proxy, and be by ballot. each share of stock shall entitle the owner to one vote. Special

CONCERNING RAILROADS.

Special meet-meetings of stockholders may be called by the president and directors when they may be deemed expedient.

ings.

Election of
Directors.

President.

SECTION 5. That at the first meeting of the stockholders to be held under the call of the said commissioners, and at every annual meeting of the stockholders to be held thereafter as aforesaid, they shall elect seven directors, who shall all be stockholders, and a majority of whom shall be citizens of this State. The first election of directors shall be conducted by two of the said commissioners as the judges thereof, and all subsequent elections of said officers shall be conducted by two of the stockholders not in the board, to be appointed judges by the directors for the time being. Immediately after their election the directors shall proceed to choose one of their number to be president of their company and of the said board, and their term of office shall be until the next annual meeting of stockholders and until their successors shall be duly chosen. The directors shall also appoint a secretary and treasurer of the said company, who and Treasu- shall continue in office for the term aforesaid and until their successors shall be duly appointed, unless sooner removed by the Treasurer to directors. The treasurer shall on his appointment give bond give bond. with security for the faithful performance of his duties to the company. A majority of the whole number of directors shall constitute a quorum for the transaction of business, and in the absence of the president may appoint a chairman of the board Vacancies. pro tempore. Vacancies in the board of directors and in the office of president, secretary and treasurer, may be filled by the remaining directors for the unexpired terms.

Secretary

rer.

Quorum.

Meetings of
Directors,

Directors.

SECTION 6. And be it further enacted, That the said president where held. and directors shall hold their meetings in the City [of] Wilmington, and the said directors shali have the general management and control of the affairs and operations of the said company, and for that purpose shall have power to employ all persons by them deemed necessary, and to fix the compensation and wages of all persons so employed, and to take bond from any of such persons for the faithful performance of their duties or contracts, and to procure all materials and supplies, and to purchase and employ such steam engines, cars and other equipments for the road, and to make such contracts with individuals and other companies as they may consider expedient for the interests of the said company, and mortgage and grant leases of its property, estate and franchises, and bind the said company by their contracts and obligations under the seal of the corporation and the hand of the president. They shall also have power to make and prescribe by-laws for the government of the company, which shall not be amended without at least three weeks'

CONCERNING RAILROADS.

notice thereof shall have been given at a previous meeting of the board.

SECTION 7. The president and directors shall procure certifi- certificates cates of the stock of the company, which shall be signed, sealed, of stock. registered, assigned, paid for and issued in the method prescribed by the by-laws, and every assignee of said stock shall be a stockholder and entitled to all rights incident thereto, and be subject to all installments, forfeitures and penalties of original subscribers.

subscrip

default.

SECTION 8. That all subscriptions to the said capital stock Payment of shall be paid to the said treasurer in such installments and at such tions to capitimes and places as the said directors shall appoint, by public tal stock. notice, and in case of default in any subscriber to pay such installments for thirty days after the time appointed in said Penalty for notice for the payment thereof, he shall pay, in addition to the installment, at the rate of two per centum per month for the delay of such payment, or the shares so held by him, with all previous installments paid thereon may be declared forfeited to the company at the option of the directors. All sums of money which How may accrue to the company under this section may be sued for recovered. and recovered as debts of like amount are recoverable by the laws of this State: Provided that no stockholder who shall be Proviso. for more than thirty days in arrears for any installment on shares of stock held by him shall be entitled to vote at any election whilst such installment remains unpaid.

SECTION 9. That the said president and directors shall, from Dividends. time to time, make and declare from the nett profits of the said company such dividends as they may deem advisable, the times for which shall be fixed by the by-laws, and public notice thereof shall be given by them. And at each annual meeting of the Report of stockholders it shall be the duty of the president and directors of ridirec the preceding year to submit a report, and exhibit to them a full tors. and true statement of the affairs of the company.

President

and

to construct

SECTION 10. That the said company be and they are hereby Authorized authorized to survey, locate, operate and maintain a railway, with railroad. one or more tracks, for the carriage of passengers and freight for compensation, by steam or other power, as follows, that is to say: from a point on the Delaware River, not more than three miles Where. north from the Christiana River, to a point on the line of the Philadelphia, Wilmington and Baltimore Railroad, and to connect or unite with the said railroad at a point thereon not more May unite than three miles distant from the said initial point on the Dela- with RW aware River, with the assent of the said the Philadelphia, Wil- road. mington and Baltimore Railroad Company, and upon such terms

& B. Rail

CONCERNING RAILROADS.

Agreement. and conditions as shall be mutually agreed upon between the said companies, to be reduced to writing, and authenticated under their respective corporate seals. And for the purpose of surveying, locating and constructing the said railroad, the said company shall have full authority to enter upon and occupy any lands, tenements and hereditaments, and procure sand, gravel, poses of road wood, stone and other material therefrom and obtain title to the same, as is hereinafter provided.

May enter the pur

upon land

Condemna

tion of lands for road.

ers to view

Must be

sworn

SECTION 11. And be it further enacted, That whenever it shall be deemed by the directors necessary to enter upon and occupy any lands or tenements for the use of the said corporation, if the owner or owners of such lands or tenements be not known, or be under the age of twenty-one years, or if the directors and such owner or owners cannot agree upon the compensation to be made therefor, the Superior Court for New Castle county, in term time, or any judge of the same, in vacation, shall, upon application by Commission-the company, appoint five commissioners, (who shall be freethe premises holders,) who shall go upon the premises, first giving five days' notice of the time and place of their meeting to the president of the company, and also to the owner or owners of the premises. if residing within the county, otherwise to the tenant, if any residing on the said premises. The commissioners, being first duly sworn or affirmed to perform their duties with fidelity, shall assess, fairly and impartially, the damages of such owner or owners to be sustained by reason of the premises being taken for the use of the company, taking into consideration all the advantages to be derived to the owner or owners by reason of Must certify the said railway, and shall certify their proceedings, with their ceedings and assessment, under their hands and seals, or the hands and seals of a majority of them, to the company, whereupon the said comRecording pany, upon recording the same in the office for recording deeds in and for New Castle county, and paying the owner or owners Company to of the premises the damages assessed as aforesaid, or depositing the same to the credit of such owner or owners in the Farmers' Bank of the State of Delaware, at Wilmington, shall become entitled to hold, use, occupy and enjoy the said premises exclusively to it, its successors and assigns forever: Provided, that Proceedings either party being dissatisfied with the damages so assessed, may, on application to the Prothonotary of New Castle county, within damm thirty days after such assessment shall have been recorded as satisfaction. aforesaid, sue out a writ of ad quod damnum, requiring the

their pro

thereof.

have premi

ses on pay

ing or depositing the damages.

on writ of

ad quod damnum in

sheriff of said county, in the usual form, to inquire, by twelve impartial men of his bailiwick, under oath or affirmation, of the damages as aforesaid. The assessment of the jury, duly made and returned by the sheriff, shall be final. If increased damages

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