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assess damages.

Oath of

Commissioners to shall pass, upon which said posts, piers or abutments shall be placed, shall consider himself aggrieved or damaged thereby, it shall be the duty of the Circuit Court of the district within which said lands are, on the application of such person, and on notice to said Association (to be served on the President or any Director), to appoint three discreet and disinterested persons as Commissioners, who shall severally take an oath before any person authorized to administer oaths, faithfully and impartially to perform the duties required of them by this act; and it shall be the duty of said Commissioners, or a majority of them, to make a just and equitable appraisal of all the loss or damage sustained by said applicant, by reason of said lines, posts, piers, or abutments; duplicates of which said appraisement shall be reduced to writing, and signed by said Commissioners, or a majority of them; one copy shall be delivered to the applicant, and the other to the President, or any Director or officer of said Association or Corporation, on demand; and in case any damage be adjudged to said applicant, the Association or Corporation shall pay the amount thereof, with cost of said appraisal; said costs to be liquiCompensation. dated and ascertained in said award; and said Commissioners shall receive for their services two dollars for each day they are actually employed in making said appraisement.

Penalty for intentional injury to Line.

Liability of Stockholders.

(2055.) SEC. 7. Any person who shall unlawfully or intentionally injure, molest or destroy any of said lines, posts, piers or abutments, or the materials or property belonging thereto, shall, on conviction thereof, be deemed guilty of a misdemeanor, and be punished by a fine not exceeding five hundred dollars, or imprisonment in the county jail not exceeding one year, or both, at the discretion of the Court before which the conviction shall be had.

(2056.) SEC. 8. The stockholders of every Association organized in pursuance of this act, shall be jointly and severally personally liable for the payment of all debts and demands against such Association, which shall be contracted, or which shall be, or shall become due during the time of their holding such stock; and no stockholder shall be proceeded against for the collection of any debt or demand against such Association, until judgment thereon shall have been obtained against the Association, and an execution on such judgment shall have been returned unsatisfied in whole or in part, or unless such Association shall be dissolved.

(2057.) SEC. 9. Every such Corporation shall, annually, within

where to be filed

ten days from the first of January, make a report, which shall Annual Report; state the amount of capital, and the amount actually paid in, the investment of any portion of the earnings of such Company in its business, and the whole amount of money which has at. any time been borrowed and then remaining unpaid; the commencement, general route, termination, and length of the Fines of the wires of such Company, and the names of the places through which they pass; which report shall be signed by the President and a majority of the Directors, and shall be verified by the oath of the President or Secretary of such Corporation, and filed in the office of the clerk of the county in which the business of any such Company is carried on, and a duplicate thereof in the office of the Secretary of State; and if any such Company shall fail so to do, all the Directors thereof Liability for neg shall be jointly and severally liable for all the debts of the port. Company then existing, and that shall be contracted before such report shall be made.

lect to make Re

(2058.) SEC. 10. All Corporations formed under this act shall Annual Tax. pay to the Treasurer of the State of Michigan an annual tax of one per centum on the whole amount of capital actually paid in; and any investment of the earnings of any such Company in their business, shall be considered as so much capital paid in; also upon all sums of money at any time borrowed by any such Company, and then remaining unpaid in whole or in part; which tax shall be paid on the first Monday of February in How estimated, each year, and shall be estimated upon the report of such Company for that year, made as required by section nine of this act; and such tax shall be in lieu of all State taxes upon the real and personal estate of such Company.

and when paid.

(2059.) Sec. 11. The stock of any such Corporation shall be Transfer of Stock, deemed personal estate, and shall be transferable in such a manner as shall be prescribed by the by-laws of the Company; but no transfer shall be valid for any purpose whatever, except to render the person to whom it shall be transferred liable for the debts of such Company, according to the provisions of this act, until the same shall have been entered upon the books of the Corporation, so as to show the names of the parties by and to whom transferred, the number and designation of the shares, and the date of the transfer; and no shares shall be transferable until all previous calls or assessments thereon shall have been fully paid in, or shall have been declared forfeited for the non-payment of calls thereon. It shall not be lawful for any such Corporation to use any of their funds in

Service of legal process, how

pany.

the purchase of, or in any manner to purchase stock in any other Corporation.

(2060.) SEC. 12. Service of any legal process against any made upon Com such Corporation may be made on the President or Secretary, or if neither of them can be found in the county, then upon one of the Directors of such Company; and in case none of the above named officers can be found in the county, then such . service may be made by leaving a copy of such process at the business office of such Company, in some conspicuous place.

Books to be kept by Company.

(2061.) SEC. 13. It shall be the duty of the Directors of every such Corporation or Company to cause books to be kept by the Treasurer or Secretary, or other officers thereof, containing the names of all persons, alphabetically arranged, who are, or shall within six years have been, stockholders of such Company, and showing their place of residence, the number of shares of stock held by them respectively, and the time when they respectively became owners of such shares, and the amount of stock actually paid in; which book shall be kept open in the principal office of every such Company in every county in which such Company transact business, for the inspection of stockholders and creditors of such Company, and their personal representatives; and any and every such person shall have a right to make extracts from any such book. Such books shall be presumptive evidence of the facts therein. stated, in favor of the plaintiff in any suit or proceeding against such Company, or against any one or more stockFealty for neg holders. Every officer or agent of any such Company whe officers or agents shall fail or neglect to make any proper entry in any such book, or shall neglect or refuse to exhibit the same, or allow the same to be inspected, and extracts to be taken therefrom, as provided by this section, shall be deemed guilty of a misdemeanor; and the Company shall forfeit and pay to the party injured a penalty of fifty dollars for every such neglect or refusal, or for neglecting to keep such books open for inspection as aforesaid.

lect, of duty by

Association in the

Duty of Owner of (2062.) SEC. 14. It shall be the duty of the owner or Assotransmission of ciation owning any telegraph line, doing business within this

dispatches.

State, to receive dispatches from and for other telegraph lines and Associations, and from and for any individual; and on payment of their usual charges for individuals for transmitting dispatches, as established by the rules and regulations of such telegraph line, to transmit the same with impartiality and good faith, under the penalty of one hundred dollars for every

neglect or refusal so to do, to be recovered, with costs of suit, in the name and for the benefit of the person or persons sending or desiring to send such dispatch.

Association in the

dispatches.

(2063.) SEC. 15. It shall likewise be the duty of every such Duty of Owner or owner or Association to transmit all dispatches in the order transmission of in which they are received, under the like penalty of one hundred dollars, to be recovered, with costs of suit, by the person or persons whose dispatch is postponed out of its order, as herein prescribed: Provided, however, That arrangements may be made with the proprietors or publishers of newspapers, for the transmission for the purpose of publication of intelligence of general and public interest, out of its regular order.

divulging the

contents of pri

nature of the

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(2064.) SEC. 16. Any person connected with any Telegraph Penalty for Company in this State, or connected with any such Company transacting business in this State, either as clerk, operator, messenger, or in any other capacity, who shall willfully or negligently divulge the contents or the nature of the contents of any private communication entrusted for transmission or delivery to the agent, clerk, operator, messenger, or other person in the employ of such Company, or who shall willfully refuse or neglect to transmit or deliver the same, shall, on conviction before any Court, be adjudged guilty of a misdemeanor, and shall suffer imprisonment in the county jail where such conviction shall be had, for a term not exceeding six months, or shall pay a fine not exceeding five hundred dollars, in the discretion of the Court; and such Company shall be liable to the party aggrieved for all damages sustained thereby. (2065.) Sec. 17. The State shall have a lien upon any line Lien of the State constructed under this act, and its appurtenances, and for all taxes which may accrue thereon to the State, by virtue of the provisions of this act, which shall have precedence of all other liens; and in case the tax or any part thereof shall remain unpaid at the time hereinbefore provided for its payment, then the State Treasurer shall have power, and it is Duty of State bereby made his duty, to advertise such line for sale for the of non-payment amount of such tax remaining unpaid, in some newspaper published in the City of Detroit, by giving three weeks' previous notice, and to sell the same accordingly for the amount of tax Proviso and interest, and charges of sale: Provided, The same shall not be paid before the time of sale; and the surplus money, if any, shall be paid to the owner or owners of such line.

for Taxes.

Treasurer in case

of Tax.

alter, amend, or

Legislature may (2066.) SEC. 18. The Legislature may at any time alter, repeal this Act. amend or repeal this act; and any such alteration or

Proviso.

amendment shall act as an alteration or amendment of the corporate rights of all Companies formed, created, organized, or at any time doing business under its provisions; or they may annul or repeal any Corporation formed under this act; but such alteration, amendment, annulling or repeal shall not, nor shall the dissolution of any such Company, take away or impair any remedy given for or against any such Corporation, its stockholders or officers, for any right acquired or liability which shall have been previously incurred.

SEC. 19. This act shall take effect immediately.

CHAPTER LX X I.

OF TRAIN RAILWAYS.

SECTION

2067. Three or more persons may organize; No-
tice to be published; When to elect Direc-
tors, etc.; Articles of Association, what
to contain.

2068. Name, Residence, and Number of Shares
to be subscribed; Persons associated to
be body corporate; Powers, Privileges and
Liabilities.

2069. When Articles to be filed with Secretary
of State.

2070. Certified Copy of Articles and Affidavit to
be evidence.

2071. Board of Directors to manage affairs;

their number, etc.; Notice of Election,
etc.; Vacancy, how filled; Term and quali-
fication of Directors.

2072. Election in certain cases, when held.
2073. Majority of Directors a Quorum for trans-
action of business.

2074. President and Treasurer to be elected by
Directors.

2075. Powers of Board of Officers.
2076. May enter upon Lands for the purpose of
Survey, etc; Width of Road; Damages for
right of way, etc., how ascertained.

SECTION

2077. Power to hold Lands, etc., restricted.
2078. May Purchase or Lease necessary Lands.
2079. Toll may be collected, etc.; Number of
Gates; Tickets.

2080. Any Person may use Road on paying Toll.
2081. Directors may require payment of Stock
subscribed, etc.; Forfeiture for non-pay-
ment; Notice required to be published.
2082. Shares transferable; Capital, how in-
creased.

2083. Place of Office to be designated by Direc-
tors; Change of place of Office.

2084. Individual liability of Stockholders.
2085. Liability for declaring Dividend, etc., when
Company Insolvent.

2086. Stockholders not liable until Execution
against Company is returned unsatisfied;
Contribution may be enforced.

2087. Directors to make Report on oath; Con-
tents of Report; When to be made.
2088. Taxes to be paid, and when.
2089. Punishment of Toll Gatherer for Illegal
Demand, etc.

2090. Company holden for Judgment against
Toll Gatherer.

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