denominations, they may deem proper, and cause certificates to issue therefor, which shall be transferable in such manner, and according to such rules as may be established by the president and directors, or a majority of them; and such portions or parts of shares, shall, as to dividends, elections, and all other purposes, touching or effecting the stocks in said company, have weight and consideration, in the same proportion which such part or portion bears to a whole share. SEc. 2. Be it further enacted, That the president and directors of said company, for the time being, or a majority of them, shall be, and they are hereby authorized and empowered to make assessments and calls on the stockholders in said company, to make contributions on the stocks held by them in said company, in such proportions, and according to such principles, as to the said president and directors, or a majority of them, for the time being, may seem equitable, and to such amount, and in such instalments as the said president and directors for the time being, or a majority of them, may deem proper; and each stockholder shall pay such instalments, assessments and contributions, at such time and place, as the said president and directors, for the time being, or a majority of them shall appoint, of which, at least three weeks public notice shall be given; and on payment thereof, a certificate of stock, to the amount thereof, shall be granted therefor. 1836 Calls may be stockholders. made on the sold when not SEC. 3. Be it further enacted, That if any person Stock may be or persons, who shall own any share in said company, calls are shall neglect, or refuse to pay the instalments, con- paid. tributions and assessments, or any part thereof, at the time and place required by the president and directors of said company, for the time being, or a majority of them, in pursuance of this act, the president and directors for the time being, or a majority of them, through the instrumentality of such officer, agent, or commissioner, as may, by them, or a majority of them, be appointed for that purpose, shall have power to sell, without delay, and transfer to the purchaser, the share of stock on which such instalment, contribution or assessment, or any part thereof has not been paid; and such sale and transfer shall vest the title to such share so sold and transferred in the purchaser absolutely; and the certificate held by the person or persons who held the said share. 1836 Act so be binding when previous to said sale, shall be absolutely null and void; and the same shall become the property of the Newport manufacturing company, and shall be delivered to the treasurer of said company by the holder thereof, on demand being made therefor. And any surplus remaining after incidental charges are paid, shall be paid to the person or persons who held the said share previous to the sale thereof, whenever he or they shall return to the treasurer of the company the certificate held by him or them. SEC. 4. Be it further enacted, That this act shall have force and effect, and become a part of the charter of said company, and be binding on the stockadopted by holders therein, and all other persons whatever, from, the company. and after such time as the same shall have been accepted and adopted by a vote of the president and directors of said company, for the time being, or a majority of them: Provided, They shall be so instructed by three fourths of the share holders. Approved, February 11, 1836. Preamble. Company in corporated. CHAP. 135.-AN ACT to incorporate the Bowlinggreen Portage Whereas, it is represented to the general assembly of Kentucky, that a rail way connecting the town of Bowlinggreen with Barren river would greatly advance the interest of said town, and of the country adjoining; and further, that the several individuals, owning the land between the said town and river, and various lots of ground within the limits of said town, have granted, free of charge, the right of way to encourage the construction of said work. The trustees of the town, and the county court of Warren county having also agreed that said road may be run upon, or across the roads or streets of said town or county: Therefore, SEC. 1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That James G. Pitts, James R. Skiles, and Jacob Vanmeter, and their associates, be, and are hereby created a body corporate and politic, by the name of "The Bowlinggreen portage railway company," and by that name may sue, and be sued, plead and be impleaded, and do all acts and things not contrary to law, and invested in rail road companies. 1836 Authorized to make road, SEC. 2. That said company may be authorized to construct a railway with one or more tracts from Bowlinggreen to Barren river, together with such wharves or landings, warehouses and depots, as may warehouses, be necessary to receive and shelter goods at either &c. end of the road; to shelter or construct cars, &c. and to receive and discharge the cargoes of boats at the river, with safety and despatch. Warehouse to inspection SEC. 3. That said company shall have a right to erect a tobacco warehouse, and other warehouses to be subject required for the commerce of said road and place, laws. subject to the inspection laws of other such warehouses now erected by the laws of this state. perty. SEC. 4. That said company shall have a right to May purchase purchase property, for the right of way, and receive and hold progrants or donations; also property for the proper warehouses to stand on, &c. which shall, to all intents and purposes, belong to such company, for their own proper use and benefit. SEC. 5. That the capital of said company shall not Capital stock. exceed twenty thousand dollars, nor shall said company be allowed to divide more than fifteen per cent on said capital so invested; and that the aforesaid James G. Pitts, James R. Skiles, and Jacob Vanmeter are appointed commissioners to carry this charter ers appointed. into effect. Commission pany to be in SEC. 6. That the faith of the state is pledged to No other comsaid company, not to incorporate another company corporated to to make a rail road, terminating on the river, within one mile, by water, of the point where this road touches the river. SEC. 7. That this charter shall have perpetual succession, and be in force, from and after the time of the passage thereof; and that the stock shall be divided into shares of one hundred dollars each, and shall be paid in such instalments as the commissioners may order and direct. make a road to the river with in one mile of this road. Duration of this charter, and the stock to be divided into shares. Road to be years. SEC. 8. That if said company do not construct or build a single track of way within two years after made in the passage of this act, the same shall be null and void. SEC. 9. That the business of said company shall be administered by a president and two directors, to be chosen in such manner as may be prescribed by the by-laws of said company; and that the stock shall be transferred in like manner as they may prescribe. L WO The manner of choosing a president and directors, and of transferring stock. 1836 SEC. 10. That said company may be required by the trustees of Bowlinggreen, to exhibit the cost of Profits not said road and investments, and to make an annual exto exceed 15 hibit of the costs of repair, transportation and other per cent. expenses, and of their receipts, and may, from time to time, require said company to reduce their rates so as to keep the nett profits not above fifteen per cent per annum. Approved, February 11, 1836. Company in corporated Their corporate powers. CHAP. 136.-AN ACT to incorporate a company to construct a Turnpike road from Taylorsville, in Spencer county, to intesect the Turnpike road from Bardstown to Louisville. SEC. 1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That a company shall be, and the same is hereby established and incorporated, with a capital of one hundred and fifty thousand dollars, to be divided into fifteen hundred shares, of one hundred dollars each, to construct a turnpike road from Taylorsville, in Spencer county, commencing at Taylorsville, and to run so as to intersect the turnpike, leading from Bardstown to Louisville, under the style of the Taylorsville and Louisville turnpike company, and as such, shall be a body politic and corporate, forever, and by that name and style, shall be competent to contract and be contracted with, to sue and be sued, plead and be impleaded, answer and be answered, defend and be defended, in all courts and places, with full power and authority, to acquire, hold, possess, use, occupy and enjoy, the same; to sell and convey all such real and personal estate as shall be necessary and convenient for the site or route of said road, and for piers and abutments for all and every bridge that shall be required on said road, and lots for toll houses, and the residence of the gate keepers; also, the necessary stone quarries for the construction and repair of said road, and all other things that shall, or may be required in the construction and repair thereof; and to have, and use a common seal, and the same to alter and renew at pleasure; and to make, establish, and put into execution, all such by-laws as may be necessary and proper for the construction, formation and repair, of said road, and the management and direction of its pru dential concerns, not contrary to the constitution and laws of this, or of the United States. 1836 How the road SEC. 2. That the width of said road shall not be less than fifty, nor more than sixty feet, and the arti- is to be made. ficial or paved part, not less than sixteen, and made one side. That said road shall be graded to two degrees, and made on a grade of inclined planes, and whenever it can be done, the elevations shall be graded away, and Floyd's Fork shall be bridged, unless the said road shall cross where there is already a public bridge. to open books of SEC. 3. That Raphael Lancaster, Masten B. Shel- Commissionburn, James Wakefield, George Collings, and Still- ers appointed well Heady, of Spencer county: Joseph Swearengen, for the subAustin Hall, Lewis Snapp, John Alexander, William scription Cludsey and John Wakefield, of Bullitt county; Levi stock. Tyler, John Hikes, Simeon Kelfus, John Speed, James D. Breckenridge, William H. Pope, and Peter Funk, of Jefferson county, be, and they are hereby appointed commissioners to open books at such time and place, or times and places, as they, or any two of them may deem expedient, for the subscription of stock in the company; and whenever five hundred shares of stock shall be subscribed, the commissioners, or any two of them, may close the books, and call a meeting of the stockholders, at such time and place as they may deem convenient, first advertising the time and place of the meeting, in one or more of the newspapers printed in Louisville; and the stockholders shall choose a president and six managers, in whom shall be vested all the powers of the corpora- be appointed. tion for the construction of said road, and the management and direction of its prudential concerns. President & managers to Manner of SEC. 4. Each share of stock, to the number of ten, shall entitle the owner to one vote, and every two the election of president, &c. shares over ten, shall entitle the holder to one vote. After the first election, an annual election shall be held on the first Monday in July, in each year; and the president and managers shall hold their offices for one year; but if from any accident a stated annual election should not take place, the president and managers shall not be held to vacate their offices until their successors shall be chosen. No person shall be elected a president, or manager, without he is a stockholder, and shall vacate his office on ceasing to be one. The president and managers for the time being, may supply any vacancy which may arise in |