Incorporation.

Fowers.

pany shall elect five Directors, one of whom shall be President. The President and Directors shall hold their office for one year or until their successors are qualified.

SEC. 17. Be it enacted, That the subscribers for stock in said company be and are hereby created a body politic and corporate under the name of the Chattanooga Iron Foundry, Steam Engine and Nail Manufacturing Company, and by that name may sue and be sued, and may make contracts with or without seal, and have perpetual succession for ninety-nine years, and have all the rights and exercise all the powers and privileges conferred by the charter to the Edgefield and Allisonian Companies, passed in the years 1849 and 1850. LANDON C. HAYNES,

Speaker of the House of Representatives.
JOHN F. HENRY,

Passed, February 2, 1850.

Speaker of the Senate.

CHAPTER XLIV.

An Act to incorporate the Franklin and Carter's Creek Turnpike Company and for other purposes.

SECTION 1. Be it enacted by the General Assembly of the Commissioners. State of Tennessee, That T. F. Atkeison, Dr. Robert Glass, C. H. Kinnaird, Sam'l. S. Morton, T. F. Perkins, W. P. Cannon, Fielding Helm, Joseph W. Bennet, of Williamson county, be and they are hereby appointed Commissioners to open books at any time and place they may choose for the subscription of stock to be used in' the constructing of a McAdamized Turnpike Road, running from the town of Franklin to the Maury county line, near Julius Hatcher's.

Capital stock.

SEC. 2. That the capital stock of said company shall be a sufficient sum to construct said road, not to exceed forty thousand dollars, divided into shares of twentyfive dollars each.

SEC. 3. That so soon as five thousand dollars of the said stock of the said road shall be subscribed for in cash or labor, any three or more of the said Commissioners shall call a meeting of the Stockholders of the said company, at the court house in the town of Franklin, by giving fifteen days notice of the time and

place of meeting in some newspaper published in the county of Williamson, or in such other mode as they Elections. may direct, and at such meeting the subscribers for stock in said road shall elect seven Directors, one of whom shall be President, who shall hold their offices for two years and until their successors are elected.

SEC. 4. That the President and Directors may in such Route of road. manner as they think best, solicit and procure additional subscription for stock, and shall either by themselves or some competent person or persons appointed by them, mark, lay out, and locate said road, commencing at the corporate limits of the town of Franklin, and running on or near the old Natchez Trace road to the western boundary of Southall's land, the most practicable route, having due regard to the interest and convenience of the landholders thereon, thence to the bridge on West Harpeth, near C. H. Kinnard's, thence to Murfree's Fork of West Harpeth, crossing the same near the Christian Church, and thence to the Maury county line near Julius Hatcher's, the most practicable route to be pursued, having due regard to the interest and convenience of landholders situated thereon.

SEC. 5. That the said President and Directors shall have the power to let out and put under contract the said road, in parcels great or small, as they may think best, to contract or for cash or stock in said company.

SEC. 6. That the President and Directors shall cause Style of road. said road to be graded twenty-five feet wide and within five degrees of a level, covered with fine beaten stone or gravel, fifteen feet wide and nine inches deep, with suitable ditches or drains on each side, leaving thirteen feet grade for a summer road.

SEC. 7. That the said President and Directors shall Incorporation. be, and they are hereby made a body politic and corporate, may sue and be sued, plead and be impleaded, by the name and style of the Franklin and Carter's Creek Turnpike Company, and shall have all the priv-: ileges, rights, powers and immunities, given by law to the Nolensville Turnpike Company, except as they are altered by this act, and except that the State shall not be held liable for any portion of the stock in said company.

SEC. 8. That said Company may erect a gate, charge Gates. and receive tolls on said road, so soon as they shall have completed five miles thereof; and may continue to erect gates and receive tolls for every additional five miles, so fast as the same shall be completed; and that the first gate on said road shall not be located nearer than one and a half miles of the town of Franklin.

Tolls.

Valuation.

Turnpike Co.

SEC. 9. That the said Company may demand and ́receive the same tolls that the Nolensville Turnpike Company are allowed by law to receive.

SEC. 10. That the President and Directors of said Company shall elect three freeholders not interested in said road directly or indirectly, who, after being duly sworn, shall examine and value such portion of said road as may be built by the labor of the stockholders, or undertakers, and return the same to the President and Directors of said company, who shall issue a certificate of stock to such stockholder or undertaker for the amount of the valuation returned as aforesaid.

SEC. 11. Be it enacted, That William Douglass, WilCanoe Branch liam Elliot, John L. Swaney, N. D. Terry, Geo. M. Winchester, William B. Bate, David Chenault, John Patterson, James H. Patterson, Nelson Turner, and William Carter, be appointed Commissioners to open books for the purpose of receiving subscriptions to build a Turnpike Road, commencing at the mouth of Canoe Branch on Cumberland River, and to extend to such a point on the Gallatin and Scottsville Turnpike road, as may be agreed upon by the said Commissioners. The said subscriptions may be paid in money or work to be performed on said road to an amount sufficient to build the same, and so soon as subscriptions sufficient shall be made, said Commissioners shall call a meeting at the Castalian Springs, by giving ten days notice in writing of the time and place of said meeting. And after said Stockholders and such persons as may thereafter become Stockholders, shall be and are constituted a body politic and corporate, by the name of Canoe Branch Turnpike Company, and shall so continue, and may own, sell and buy property, sue and be sued, plead and be impleaded, in all the courts in this State or elsewhere, and be entitled to all the rights, powers, and privileges, and subject to the conditions, limitations, and restrictions granted and conferred upon the Bledsoe Creek Turnpike Company, as amended, except so far as the provisions of this act is inconsistent with the same.

work.

SEC. 12. Be it enacted, That persons subscribing may May subscribe in subscribe and take so much of said road designating the part and distance, which shall be built and finished by the person or persons so subscribing, in a good and substantial Turnpike manner, to be graded twenty feet wide, cuts and fills to be made so as to reduce the grade to four degrees, and mettled with stone or good gravel ten inches deep and sixteen feet wide, with sufficient culverts and water drains on the sides and

across the road where necessary. And the said subscriptions in work shall be made as follows: The first mile or half mile and so on, completing the distance commencing at the mouth of said branch on Cumberland river. If two or more subscriptions shall take the same portion of the road, the board of Directors shall decide who shall have it, having due regard for the interest of the company.

SEC. 13. Be it enacted, That the Stockholders, or a Elections. majority of them, shall call a meeting and elect five Stockholders as Directors of said Company, who shall appoint one of their body President of the board, who shall hold their office two years, and until another election to fill their places; and ten days notice of said election shall be given in a newspaper published in the town of Gallatin. The President and Directors shall have power to designate the time and place of meeting, and to appoint such officers and agents as may be necessary to transact the business of the company, and prescribe their duties, and fix their salaries."

SEC. 14. Be it enacted, That so soon as five miles of said road shall be subscribed for, whether in money or in work, the election of Directors shall take place, and said road shall be laid down by a majority of the Stockholders; and if the whole of said road shall not be taken in work, but part of the stock in money, the President and Directors shall let out to the lowest bidder, such part remaining unsubscribed for as aforesaid, and apply the funds of the Company in the payment of the same.

SEC. 15. Be it enacted, That the work on said road shall be commenced in twelve months from the passage of this act, and said road finished within three years thereafter, or this charter shall be forfeited.

Valuation of

SEC. 16. Be it enacted, That when the work upon work. said road shall be completed, such part as shall have been built by stockholders subscribing to build so much thereof, the stockholders shall have a meeting, and examine and fix upon the value of the work done upon said road by each of said stockholders so subscribing. And if they cannot agree, then three valuers shall be appointed, by a majority of the stockholders unconnected with the parties; who shall proceed to value each stockholder's work done on said road, which valuation shall be reported to the President and Directors of the company; and which shall be placed on the books of the company, and constitute so much stock in said turnpike company belonging to

Block.

the stockholder or his or her assigns, who may have done the work.

SEC. 17. Be it enacted, That in the event of any Forfeiture of stockholders failing to perform and complete in a turnpike manner, his or their part of the road, within the time specified by this charter for the completion of said road, he or they shall forfeit his or their stock in said road to said company; and the President and Directors proceed to put such portion of the road under contract in the best way for the interest of the company.

Gates.

Harrison rail road
Co.

SEC. 18. Be it enacted, That whenever said road shall be completed, according to the provisions of this charter, from the mouth of Canoe Branch on Cumberland river, to such point on the Gallatin and Scottsville turnpike road as may be agreed upon by the aforesaid commissioners, said company shall have power to erect not more than two gates, and receive at them the same rates of toll charged by the Gallatin turnpike on their road.

SEC. 19. Be it enacted, That the formation of a comHamilton and pany is hereby authorized for the constructing a rail road from Harrison in Hamilton county to the Georgia Southern Atlantic rail road at the nearest and most practicable point at or near Bridgeman's mills, or any other place nearer, that the company may choose, which company shall consist of the stockholders, and when formed, shall be a body corporate by the name and style of the Hamilton and Harrison rail road company, and by such name shall have and enjoy, possess and exercise all the rights, privileges and franchises so far as the same are applicable, which the Nashville and Chattanooga rail road company, have by the terms of an act passed 11th December, 1845, entitled an act to incorporate the Nashville and Chattanooga rail road company, and be subject to the limitations and restrictions therein imposed; Provided, That each share shall entitle the owner thereof to one vote.

Commissioners.

SEC. 20. The capital stock of said company shall be one hundred thousand dollars, to be divided into shares of twenty-five dollars each, and A. J. W. Pucket, N. B. Beard, M. R. Allen, Dr. Hail and John Johnson are hereby appointed a board of commissioners, who may at such times and places, and upon such terms as they may think proper, sell or dispose of or open books for the subscription of said stock, and who shall as to this road in all respects have the power and perform the duties prescribed for the board of commissioners of the Nashville and Chattanooga rail road company by the 4th section of the act aforesaid in relation to that road,