1850. 44th section of Frankfort rail Louisville and road charter ap. plied to this. May prosecute business when sections of an act of the General Assembly of the Commonwealth of Kentucky, entitled, "an act to incorporate the Licking and Lexington Railroad Company, and Louisville and Frankfort Railroad Company, approved March 1, 1847," be and the same are hereby re-enacted and incorporated into this act, and as part of the same, only substituting, when it is proper, the style of this company in lieu of the style of the Louisville and Frankfort Railroad Company, and the provisions of the said sections of said act shall be applicable to this company, as though they were copied into this act as a part hereof. SEC. 17. Be it further enacted, That the forty fourth section of said act, approved March 1, 1847, after striking out the words "between Frankfort and the Ohio river," as they occur in said forty fourth section, be and the same is hereby enacted as a part of this act, and made applicable to "the Lexington and Danville Railroad Company" hereby incorporated, as though the said forty fourth section, with said omissions, was copied at length into this act. SEC. 18. Be it further enacted, That so soon as the Company shall have completed ten miles of their route, they 10 miles of road may commence and prosecute their business upon the terms and upon the stipulations herein provided for, as though the whole work was completed. are finished. May the road. May connect road with any other road. SEC. 19. Be it further enacted, That it shall and may be branch lawful for said railroad company to branch the said road, and run lines to any points within the counties of Fayette, Jessamine, Mercer, Boyle, Lincoln, or Garrard, on the terms mentioned in this act, and especially to or near the towns of Harrodsburg and Nicholasville, and to such points on the Kentucky river as may be deemed useful to facilitate the transportation of products from and to the Kentucky river from and to said railroad. It shall be lawful for said company to unite this road with any other railroad in any of said counties which now is or may hereafter be, constructed, with the consent of the Directors of said other railroad company. It shall be lawful for other railroad companies, now or hereafter to be incorporated, to unite with this road, with the consent of the Directors of this road; and it shall be lawful for the Lexington and Danville Railroad Company to contract with any other railroad company which now is, or may hereafter be, incorporated in this State, for the use of the locomotives, cars, engines, vehicles, carriages, or machinery of any description whatever, belonging to each respective railroad company, and to be used upon the tracks of each respective railroad company, upon such terms, and under such stipulations and conditions as may be agreed on by the said companies contracting. Other roads may connect with this. SEC. 20. The rate of tax on each one hundred dollars of Tax on capital stock in said company shall be at the same rate fixed by law on each one hundred dollars of taxable property for stock. 1850. Legislature may tax profits the public revenue; and the tax shall be paid by the President and Directors into the Treasury, on or before the first day of December in each year; and when the nett profits of the stock in said road shall exceed six per centum per annum, on each one hundred dollars worth of stock, the Commonwealth reserves the right to put the same rate of tax on each one hundred dollars of such excess of nett pro- over 6 per cent. fits, and cause the same to be paid into the Treasury, each year, in like manner; but the stockholders, resident within the State of Kentucky, shall not be compelled to list such stock with the Assessor: Provided, that all the taxes which shall be paid into the Treasury, by said company, shall pass to the credit of the Sinking Fund; and it is also further provided, that no tax shall be demanded of said company until said road is completed. Approved March 5, 1850. CHAPTER 379. AN ACT to incorporate the Frankfort and Clifton Turnpike Road Com pany. SEC. 1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That a Company is hereby incorporated, for the purpose of constructing a turnpike or McAdamized road from the town of Frankfort, up the Kentucky river by the mouth of Glenn's creek, to Clifton, or some other convenient point on the Kentucky river, to be called and known by the name of the Frankfort and Clifton Turnpike Road Company; and by that name shall be a body politic and corporate. SEC. 2. That the capital stock of said company shall be fifty thousand dollars, divided into shares of fifty dollars each. Books for the subscription of stock in said Company shall be opened on the first Monday in March next, or as soon thereafter as the Commissioners hereinafter named may think proper to open the same, and the subscribers of stock in said company shall sign an obligation of the following import, viz: "We, whose names are hereunto subscribed, do bind ourselves to pay unto the President and Directors of the Frankfort and Clifton Turnpike Road Company the sum of fifty dollars for each share of stock set opposite our respective names, at such times, and in such proportions as may be required by the President and Directors of said Company." SEC. 3. That William Scarce, Thomas S. Page, Charles H. Julian, Richard K. Woodson, of Franklin county; Samuel Miles, Peyton Johnson, Oscar Pepper, William L. Graddy, Isaac Whittington, and Notley C. Harris, of Woodford county, are appointed Commissioners to open books for the subscription of stock in said company, and may open books Name & style. Capital stock. Com'rs. 1850. meeting stockholders. for that purpose at such places as they may think proper, and continue them open, from time to time, until stock sufficient for the construction of said road is subscribed. SEC. 4. When ten thousand dollars of the capital stock Com'rs to call shall be subscribed for, the said commissioners, any two of whom may act, shall call a meeting of the stockholders at such time and place as they may think proper to designate, by giving ten days' notice thereof, by públication in some newspaper printed in the town of Frankfort, for the purpose of electing a President and three Directors, a Treasurer, and such other officers as may be deemed necessary and proper. Each stockholder shall be entitled to one vote for each share by him subscribed, and may vote in person, or by proxy, in writing. shall take oath. an SEC. 5. The President and Directors elected, shall, bePresident, &c., fore they enter upon the discharge of their duties, take an oath before some Justice of the Peace faithfully and impartially, and to the best of their ability, to perform the duties of their office. They shall cause a record of their proceedings to be kept in a book to be provided for that purpose, which shall be subject, at all times, to inspection by any of the stockholders. other officers to SEC. 6. The said President and Directors shall have powTreasurer and er to require and take from the Treasurer, and other officers elected, bond with security, in such penalty, and with such conditions, as they may think proper to prescribe by their by-laws. give bond. adopt by-laws, &c. SEC. 7. That said President and Directors shall have Board may power to adopt and put in execution all such by-laws, rules, and regulations, as they may deem necessary and proper for enabling them to construct, control, and manage the road contemplated to be constructed under and by virtue of the provisions of this act. Location road, &c. of company. SEC. 8. The said road shall be located on the most pracor ticable route, from such point at or near the town of Frankfort, up the Kentucky river, to such point or place as the President and Directors shall determine upon; it shall be forty feet in width, and not less than sixteen feet of that width graded and covered with stone or gravel at least nine inches in depth.. SEC. 9. That upon the election and qualification of the Organization President and Directors, as hereinbefore directed, they and their successors, (who shall be elected annually by the stockholders, at such time and place as may be agreed upon and fixed by the by-laws,) shall be and are hereby created Annual Elec. a body politic and corporate, by the name and style of the Frankfort and Clifton Turnpike Road Company; with power to increase or diminish the amount of their capital stock; to purchase, take, and hold real estate, to such extent as may be deemed necessary and proper for the erection of toll houses, and dwelling houses for gate keepers, &c. tions. 1850. General pow. ges. SEC. 10. That the several provisions of the seventh, eighth, ninth, tenth, eleventh, twelfth, thirteenth, fourteenth, fifteenth, sixteenth, seventeenth, eighteenth, nineteenth, ers and privile twentieth, twenty-first, twenty-second, twenty-third, twenty-fourth, twenty-fifth, twenty-sixth, twenty-seventh, twenty-eighth, twenty-ninth, thirtieth, thirty-first, thirty-third and thirty-fourth sections of the act, entitled, an act to incorporate the Danville and Hustonville Turnpike Road Company, approved March 1, 1844, are hereby adopted and re-enacted as part of this act, and shall apply to and govern and control the company hereby created, so far as the same are applicable, and are not inconsistent with the objects of this act. SEC. 11. That when four consecutive miles of said road shall be completed, a toll gate shall be erected thereon, and tolls may be charged and collected thereon, pursuant to the twenty-second section of the above recited act. Approved March 5, 1850. gate When may be erected. CHAPTER 380. AN ACT to incorporate certain Turnpike Road Companies in Montgom. SEC. 1, Be it enacted by the General Assembly of the Com- SEC. 2. That books for the subscription of stock in said company shall be opened on the last Monday in April next, or at any time thereafter as may be deemed expedient, in Mountsterling under the direction of George Howard, Richard Apperson, Walter Chiles, Thomas F. Hazelrigg, John Voris, Alexander Lindsey, Aquilla Young, and Peter Everett; and at Howard's mill, under the direction of William F. White, Thomas Skilman, John Tinley, Buck Glover, Jesse Yeates, Robert H. Gatewood, and John Choat, or some two or more of them at each place, who are appointed commissioners. The subscribers to said company shall enter into the following obligation, substantially: "We, whose names are hereto subscribed, severally, promise to pay to the Mountsterling and Howard's Mill Turnpike Road Company the sum of fifty dollars in cash, labor, or materials, as the President and Directors may require, for each and every share of stock set opposite our names respectively, and agreeably to an act of the General As Corporats name & style. Capital stock. Books to be opened. Com'rs. Obligation of subscribers. 1850. Com'rs stockholders. duties. to sembly incorporating said company." Notice shall be giv en of the opening of the books for the subscription of stock in said company. SEC. 3. Whenever the commissioners, or any three of call meeting of them, may be of opinion that a sufficient amount of stock has been subscribed to justify commencing the making of said road, they may call a meeting of the stockholders for the purpose of electing a President and five Directors, who shall hold their office for one year, and until their successors shall be elected and qualified. A Treasurer shall be Treasurer, his appointed annually by the President and Directors, who shall give a bond, with good security, in an adequate penalty, payable to said company, conditioned that he will faithfully discharge the duties of Treasurer; that he will perform the duties required of him by the by-laws of said company, and that he will pay the amount of moneys in his hands to the President and Directors, or to their order: Provided, that the said President, Directors, and Treasurer, President, D. before entering upon their offices, respectively, shall take an oath before some Judge or Justice of the Peace that he will faithfully perform the duties of his office, without favor or affection, and to the best of his judgment. rectors, Treasurer, take oath. and to SEC. 4. That upon the election and qualification of the President and Directors, they shall be a body politic and corporate, in deed and in law, by the name and style of the Mountsterling and Howard's Mill Turnpike Road Company; and by said name to have perpetual succession, and all the privileges and franchises incident to a corporation; and shall be capable of taking and holding their capital stock, and the increase and profits thereof; and of purchasing, taking, and holding, to them and their successors and assigns, and of selling, transfering, and conveying, all such lands, tenements, and real and personal estate, as much as shall be necessary to them in the prosecution of their work; to sue and be sued, to plead and be impleaded, answer and be answered, defend and be defended, in courts of record or any other place whatever; also, to have a common seal, and to do all and every thing which a body politic or corporate may lawfully do. SEC. 5. Each stockholder shall be entitled to as many votes in the election of a President and Directors, and in all other elections, as he may hold shares of stock in said company. The stockholders may vote in person or by proxy. The election shall take place annually, on the first Monday in June, unless the time shall be changed by the by-laws of the company, and at each annual meeting of the stockholders, the President shall lay before them an expose of the situation of said company, and the records of their proceedings. The company shall have power to pass by-laws for their government, and to fix days and places for their annual meetings and elections; and certificates of |