« ForrigeFortsett »
no individual, corporation, or State holding stock in said. company, shall be entitled to more than two hundred votes, and one vote for every fifty shares over three thousand shares; any person being a subscriber or stockholder, who may offer to vote as a proxy, may be required by any subscriber or stockholder to swear that he has no interest, directly or indirectly, in the stock on which he offers to vote as proxy; a trustee of stock shall not vote on shares held by him in trust, expressed or declared, where the cestui-que-trust holds other shares either in his own name, or in the name of another trustee, but the cestui-que-trust may vote on all shares owned by him, whether legally or equitably, according to the scale aforesaid.
SEC. 29. The said company may purchase, have and May hold Real hold, in fee or for a term of years, any lands, tenements or hereditaments, which may be necessary for the said road, or any branch or appurtenance thereof, or for the erection of depositories, store houses, houses for the officers, servants, or agents of the company, or for workshops, or for foundries, to be used for the said 'company, or for procuring timber, stone or other materials necessary to the construction of the road, its branches, or apparatus, or for effecting transportation thereon, and for no other purpose whatever.
SEC. 30. The said company shall have the right, when necessary, to conduct the said Railroad or any branch thereof, across or along any public road or water course, provided that the said road, and the navigation of such water course, shall not be thereby obstructed.
SEC. 31. The said company may purchase, have and hold any bridge or turnpike road, over which it may be necessary to carry the said Railroad; and when such purchase is made to hold the said bridge or turnpike road, on the same terms and with all the rights which belong to the individual or individuals, or corporation, from which such purchase may be made, provided that the said company shall not obstruct any public road without constructing another as convenient as may be.
SEC. 32. That where any lands or right of way may be required by the said company, for the purpose of constructing their road, and for want of agreement as to the value thereof, or from any other cause, the same cannot be purchased from the owner or owners, the same may be taken at a valuation to be made by five commissioners or a majority of them, to be appointed by the circuit court of the county where some part of the land or right of way is situated; and the said com
Bridge or town
missioners, before they act, shall severally take an oath before some justice of the peace, faithfully and impartially to discharge the duty assigned them. In making the said valuation the commissioners shall take into consideration the loss or damage which may accrue to the owner or owners in consequence of the land being taken, or the right of way surrendered; and also the benefit and advantage he, she or they may receive from the erection or establishment of the Railroad or works, and shall state particularly the nature and amount of each, and excess of loss and damage over and above the benefit and advantage; shall form the measure of damage or valuation of the said land or right of way; the proceedings of the said commissioners, accompanied with a full description of the land or right of way, shall be returned under the hands and seals of a majority of the commissioners to the court from which the commission issued, there to remain of record; in case either party to the proceedings shall appeal from the said valuation to the next session of the court, granting the commission, and give reasonable notice to the opposite party of such appeal, the court shall order a new valuation to be made, by a jury who shall be charged there with in the same term, or as soon as practicable, and their verdict shall be final and conclusive between the parties, unless a new trial shall be granted, and the parties shall have the right of appeal to the Supreme Court or Court of Appeals; the party appealing shall be governed in all respects by the laws regulating appeals in the State where said case or cases may be tried, and the lands or right of way so valued by the commissioners or jury, shall vest in the said company in fee simple, so soon as the valuation may be paid, or when refused, may be tendered; when there shall be an appeal as aforesaid from the valua tion of the commissioners, by either of the parties, the same shall not prevent the work, intended to be constructed, from proceeding; but where the appeal is made by the company, requiring the surrender, they shall be at liberty to proceed in their work, only on condition of giving the opposite party a bond, with good security, to be approved of by the clerk of the court where the valuation is returned, in a penalty equal to double the valuation, conditioned for the payment of the said valuation and interest, in case the same be sustained, and in case it be reversed, for the payment of the valuation thereafter to be made by the jury and confirmed by the court.
SEC. 33. In the absence of any contract or contracts
with the said company, in relation to lands through which the said Road or its branches may pass, signed by the owner thereof, or by his agent, or any claimant in possession thereof, which may be confirmed by the owner thereof, it shall be presumed that the land upon which the road or any part of its branches, may be constructed together with a space of one hundred feet on each side of the center of said road, has been granted to the company by the owner or owners thereof, and the said company shall have good right and title thereto, and shall have, hold and enjoy the same. to be used only for the purposes of the said road and no longer, unless the person or persons owning the said land, at the time that part of the said road, which may be on the said land, was finally surveyed and located, or those claiming under him, her, or them, shall apply for an assessment of the value of said land as hereinbefore directed, within one year after that part of said road was finally surveyed and located, and he, she or they notified thereof in writing; and in case the said owner or owners, or those claiming under him, her or them, shall not apply for such assessment within one year, after the said part was finally surveyed and located, and he, she or they notified thereof as aforesaid, he, she or they shall be forever barred from recovering the said land, or having any assessment or compensation therefor; Provided, That nothing herein contained shall affect the rights of femes covert or infants, until two years after the removal of their respective disabilities.
SEC. 34. All lands not heretofore granted to any person, not appropriated by law to the use of the State, within one hundred feet of the center of said road, or its branches, which may be constructed by the said company, shall vest in the company as soon as the line is definitely laid out through it, and any grant thereafter shall be void.
SEC. 35. That if any person or persons shall intrude Penalty for intraupon the said Railroad or any branch thereof, or part thereof, by any manner of use thereof, or of the rights and privileges connected therewith, without the permission, or contrary to the will of said company, he, she, or they shall forthwith forfeit to the said company all the vehicles that may be so intruded on the said road, and the same may be recovered by suit at law, and the person or persons so intruding may also be indicted for a misdemeanor, and upon conviction fined and imprisoned by any court of competent jurisdiction. SEC. 36. If any person shall wilfully or maliciously
Penalty for iujur destroy, or in any manner hurt, damage or obstruct, or shall wilfully and maliciously cause, or aid, or assist, or counsel and advise any other person or persons, to destroy, or in any manner to hurt, damage, injure or obstruct the said Railroad or any branch thereof, or any bridge or vehicle used for or in the transportation thereof; such person or persons, so offending, shall be liable to be indicted therefor, and on conviction, shall be imprisoned not more than six, nor less than one month, and pay a fine not exceeding five hundred dollars, nor less than twenty dollars, at the discretion of the court, before which such conviction shall take place, and shall further be liable to pay all the expenses of repairing the same; and it shall not be competent for any person so offending against the provisions of this clause, to defend himself by pleading or giving in evidence that he was owner or agent, or servant of the owner of the land where such destruction, hurt, damage, injury, or obstruction was done or caused at the time the same was caused or done.
SEC. 37. Every obstruction to the safe and free pasObstructions. Sage of vehicles on said road or its branches, shall be deemed a public nuisance, and may be abated as such by any officer, agent or servant of the company; and the person causing such obstruction may be indicted and punished for erecting a public nuisance.
SEC. 38. The said company shall have the right to take at the store-houses they may establish on, or annexed to their Railroad or the branches thereof, all goods, wares, merchandise and produce intended for transportation; prescribe the rules of priority, and charge and receive such just and reasonable compensation for storage, as they by rules may establish, which they shall cause to be published, or as may be fixed by agreement with the owner, which may be distinct from the rates of transportation; Provided, That the said company shall not charge or receive storage on goods, wares, merchandise or produce which may be delivered to them at their regular depositories for immediate transportation, and which the company may have the power of transporting immediately.
SEC. 39. The profits of the company, or so much thereof as the general board may deem advisable, shall, when the affairs of the company will permit, be semiannually divided among the stockholders in proportion to the stock each may hold.
SEC. 40. That the capital stock in the said company, the dividends thereon, and the roads and fixtures, depots, Dividends when workshops, warehouses, and vehicles of transportation,
belonging to the said company, shall be forever exempt from taxation in each and every of the said States of Tennessee and Kentucky, and it shall not be lawful for either of the said States, or any corporate or municipal police, or other authority thereof, or of any town, city, county or district thereof, to impose any tax on such stock or dividends, property or estate: Provided, The stock or dividends, when the said dividends shall exceed the legal interest of the State, may be subject to taxation by the State in common with and at the same rate as money at interest, or interest thereon, and when the State shall impose a tax on the dividends declared in favor of the stockholders of the company, the tax shall extend only to such proportion of the said dividends and capital stock, a's the part of the road in that State shall bear to the whole road, from the profits of which the said dividends. have arisen, which tax, when imposed shall be retained by the company out of said dividends, and paid to the State; but no tax shall be imposed, so as to reduce the part of the dividends to be received by the stockholders, below the legal interest of the State.
SEC. 41. The following officers and persons in the actual service of the said company, be and they are hereby Officer exempl exempt from the performance of jury and ordinary mili- and jury duty. tia duty, viz: The president of the board of directors, the chief and assistant engineers, the secretaries, auditors, and accountants of the board, keepers of the depositories, guards stationed on the road to protect it from injury, not exceeding one man to every five miles, and such persons as may be working the locomotive engines, and travelling with cars for the purpose of attending to transportation of goods or passengers on the road, not exceeding one engineer and his assistant, and the necessary firemen to each locomotive engine, and one person to each passenger car and every five cars for transporting goods, &c.
SEC. 42. That the said company is hereby expressly Banking prohíb prohibited from carrying on any banking operations, and ited. from effecting any insurance on lives or property, except on goods transported on said Railroad or its branches, or in the company's custody, for or in consequence of such transportation.
SEC. 43. And the said company shall be entitled only to such powers and privileges, as shall be granted to it, by all the Legislatures incorporating it, and the powers necessary and proper to give them effect, and shall be subject to all the restrictions and disabilities which may be imposed on it by either of the said Legislatures, by the act of incorporation; so that its powers, privileges and