interest kept all such judgments shall be entered up for the principal sum due with Principal and the interest, but no part of such judgment shall bear interest, except separate in the principal which may be due on the original debt, any law, usage, custom, or practice to the contrary notwithstanding. An Act to alter and amend an act, entitled An Act for reducing the the entry of judgments. be the effect the lawful in 4. All contracts, bonds, notes, and assurances whatsoever, made What shall after the passage of this act, for the payment of any principal or money, of taking goods, wares, or merchandise, or other commodities whatsoever, to be more than lent, covenanted, to be performed upon, or for any usury, whereupon or terest. whereby there shall be reserved or taken above the rate of eight per centum per annum, shall not be void, but the principal due thereon shall be recoverable at law and no more. created. 5. Sec. II. No forfeiture shall be incurred by any person who No forfeiture hereafter may reserve or take more than eight per cent. per annum upon any contract, as contemplated in the first section of this act; any law, usage, or custom to the contrary notwithstanding. The following are the rates of legal interest in the several States. Maine (2) six per cent. New Hampshire (1) six per cent. North Carolina (5) six per cent. (1) Contract good for principal and lawful interest, but the lender liable to a penalty. (2) Contract good for principal and lawful interest, but the lender liable to a penalty equal to the excess. Contract good for principal, but void as to all interest. Contract good for principal and lawful interest, but void for the excess. Contracts good for principal, but forfeiture of three times the whole interest. (7) Usurious contracts void. (8) Usurious contracts void. Eight per cent. allowed on tobacco contracts. (9) Contracts good as far as ten per cent. Beyond that void. (10) May contract for twelve per cent. Beyond that void. (1) Contracts good for principal only. Usury indictable. (12) This is usual. No certain rate is established by law. Any rate contracted for can be enforced. (13) In Louisiana there are three sorts of interest. Legal interest, where there is no stipulation, is five per cent. per annum. Bank interest is six per cent. and Conventional interest is ten per cent. That is to say, the parties may agree for any rate as far as ten per cent. but any contract beyond that rate is void. (14) This in ordinary contracts: ten per cent. permitted on loans of money. (16) But contracts for other rates may be enforced. 296 Preamble. Members of the steamboat company rated. powers. INTERNAL TRANSPORTATION, (INCLUDING RAIL-ROADS, STEAM-BOATS, CANALS AND TURNPIKES.) An Act for the incorporation of the Steam Boat Company of Georgia. Approved Dec. 19, 1817. Vol. III. 510. Whereas, by an act of the general assembly of this State, passed on the 18th day of November, 1814, certain privileges were granted to Samuel Howard of Savannah, and his associates: And whereas sundry persons have become the associates thus contemplated: to give complete effect to said act, and for other purposes, 1. Be it enacted, That the following persons, viz. Albert Brux, William Cumming, John McKinne, Samuel Hale, Andrew Erwin, nominated Henry Shultz, Benjamin Sims, Sheldon C. Dunning, William Scarand incorpo- borough, Jonathan Meigs, John Gurnin, Samuel Howard, Robert Isaac, Abraham Twiggs, Augustin Slaughter, Oliver Sturgess, William Hart, William Taylor, Charles Labuzan, Benjamin Burroughs, William Sims, Samuel P. P. Fay, Jared Groce, Elias Reid, Samuel Lark, Charles Howard, Basil Lamar, Barna McKinne, Joseph Grant, James Erwin, James G. O. Wilkinson, Thomas Tallmage, Walter Crenshaw, Augustus Brux and David McKinney, and their successors and assigns, be, and they are hereby created and made a corporation and Their style body politic, by the name and style of "The President, Directors and and corporate Company of the Steam Boat Company of Georgia ;" and by that name and style shall be, and are hereby made able and capable in law to have, purchase, receive, possess, enjoy and retain to them and their successors, lands, rents, tenements, hereditaments, goods, chattels and effects of what kind, nature or quality soever, to an amount not exceeding the capital of said corporation at the time of holding such property, and the same to sell, grant, demise, alien or dispose of; to sue and be sued, plead and be impleaded, answer and be answered unto, defend and be defended in courts of record, or any place whatsoever; and also to make, have and use a common seal, and the same to break, alter and renew at their pleasure; and also to ordain, establish and put in execution such by-laws, ordinances and regulations as shall seem necessary and convenient for the government of said corporation: Provided nevertheless, that such by-laws, rules and regulations be not contrary to the constitution and laws of the State, or of the United States; and generally to do and execute all and singular such acts, matters and things, as to them may or shall appertain to do; subject, nevertheless, to the rules and limitations hereinafter prescribed. Capital stock. elected an nually. Votes apportioned. 2. Sec. II. The capital stock of the above-mentioned corporation shall be $200,000, but may be increased to any sum not exceeding $800,000, whenever it is deemed expedient by a majority of the stockholders, holding two-thirds of the existing stock. Thirteen Di- 3. Sec. III. To manage the affairs of said corporation, the stockrectors to be holders shall annually, by a majority of votes, elect thirteen directors, who shall choose a president from their own body. All voting by the stockholders shall be according to the following scale, viz; one share shall give one vote; any number of shares, from two to five inclusive, shall give two votes; and every five shares above five, shall give one vote; but no share or shares shall confer the right of a vote or votes, unless transferred to the holder on the books of the corporation, at least three months previously to the time of voting. with the ex igating the steam boats 20 years. privilege, lia 4. Sec. IV. The above-mentioned corporation shall possess, for Invested twenty years next following the date of this act, the exclusive privilege clusive privof navigating the rivers and other waters of this State, with boats or lege of navvessels propelled by steam, whether employed alone, or for the pur- waters of this pose of warping, towing, or in any manner impelling other boats and State with vessels, rafts, floats or arks. And if any person or persons, other than or vessels for said corporation, shall, during said term of twenty years, navigate or Persons viocause to be navigated, any river or water of this State with a boat or lating said boats, vessel or vessels propelled by steam, either employed alone, or ble to certain for the purpose of towing, warping, or in any manner impelling other penalties. boat or boats, vessel or vessels, raft or rafts, float or floats, ark or arks, such person or persons so offending, shall forfeit every boat or vessel thus employed, steam-boat or other, together with the machinery thereof, and shall also forfeit and pay for every such offence the sum of $1,000; and said double forfeiture shall be recovered by the process of law in such cases, in any court having competent jurisdiction; and when recovered, shall go in equal portions to the State and to the prosecutor. forfeiture of any river 5. Sec. V. Said corporation shall forfeit its right to the exclusive What shall navigation above-mentioned, of each and every river in which it shall occasion a not have at least one steam-boat in operation within seven years from said right on the date of this act; and provided also, that even after the expiration of said seven years, said corporation shall forfeit its exclusive right above-mentioned, to the navigation of each and every river, on which, for twelve months together, it shall employ no steam-boat. for losses. 6. Sec. VI. The said corporation shall be liable for all losses caused When liable by fire and steam, if occasioned by their own negligence or that of their agents or servants, but not otherwise: Provided, that the law governing carriers, now in force, shall be in no wise innovated by this section. shipped in May have ex wharves. this act. the rights,&c. 7. Sec. VII. The said corporation shall be authorized to insure all May insure property shipped in their boats against risks for which they are not property, legally liable; and shall also be authorized to enjoy the exclusive use their boats. of its own wharf or wharves; but it shall not hold any other than may clusive be necessary for the convenient transaction of its own business. 8. Sec. VIII. This act shall continue in force for twenty years Duration of from its date; but nothing herein contained shall divest said corporation of any benefit which might be enjoyed by the said Samuel How-To enjoy all ard, under the act, entitled, "An Act to encourage an improved mode which were of transporting merchandize upon the waters of the State of Georgia," granted to S. passed on the 18th day of November, 1814;-on the contrary, the the former said corporation shall enjoy all rights, privileges and exemptions, granted to said Samuel Howard, by said act, in as full and complete a manner as if the same were granted directly to said corporation, with power and capacity of suing and being sued under the said act in any court of law or equity: Provided nevertheless, that nothing herein Proviso. contained shall be so construed as to authorize the aforesaid company to issue any bills, commonly called bank bills or bills of credit. An Act to authorize the President, Directors and Company of the Steam-boat Company of Georgia to run a Canal or Rail-road from the City of Augusta to some point on the Savannah river, so as to avoid the shoals and other obstructions to the navigation of said river.-Approved Dec. 20, 1833. Pam. 252. Howard, by act. Whereas, the shoals and other obstructions in the Savannah river Preamble. frequently impede the navigation thereof, and hinder the transportation May con struct a rail around the shoals, &c. below Au gusta. of merchandize and produce: And whereas, a line of rail-road or canal communication between Augusta and a point below these shoals and obstructions would greatly facilitate the export of the products of this State, and the import of the necessary supplies of merchandize: Be it enacted, &c. That the president, directors and company of road or canal the steam-boat company of Georgia, be and are hereby authorized and empowered to run a rail-road or canal of suitable width, depth and dimensions, in such course as shall be determined on, from the city of Augusta to such point on the Savannah river as may be selected by them, to avoid the shoals and other obstructions lying below Augusta, paying to the owners of land through which the same may pass a just indemnity, to be ascertained as hereinafter provided for, and for three hundred feet on each side of the same, and of its artificial feeders; for the procurement of timber, earth, stones, and other materials, and for the construction thereon of basins, toll-houses, slips, locks, docks, and Bridges, &c. other necessary and proper works and purposes. And whenever a person shall own land on both sides of the canal or rail-road, at any point, the company shall be bound to construct, for his or her convenience, such bridge or road as may be necessary to prevent inconvenience to said owner or owners, on or along the said rail-road or canal but no person shall be at liberty to ford such canal or to cross such rail-road, except by such bridge, without the express permission of the directors of the steam-boat company, or its proper officer. Allowed to appropriate he funds. Right of way. Sec. II. The said company, for the accomplishment of the said work, be and it is hereby authorized and empowered to appropriate to this purpose such part of the capital stock of said company, and such other means of said company, as shall be necessary, or be deemed fit by the board of directors. Sec. III. When any person shall feel himself aggrieved or injured by the said canal or rail-road, or by reason of any of the feeders, wasteways, or outlets of such canal being cut or carried through his land, or by any other works of the said company, or when the said company cannot agree with any person through or over whose land the said rail-road or canal, or appendages, shall be conducted, as to Assessment the damages sustained, the amount of such damage or injury shall be of damages. ascertained and determined by the written award of three sworn ap Bridges for public roads. Wilful ob praisers, to be chosen one by the company, one by such owner if he shall think proper, and one by the inferior court of the county where such land lies; but if such owner shall decline to appoint an appraiser, then two appraisers to be appointed by the inferior court aforesaid, and one by the company, the award of whom shall operate as a judgment for the amount against said company, and shall be enforced by an execution from the inferior court, with the right of appeal to either party, to be tried by a special jury at the next term thereafter of the superior court of said county; and the decision shall vest in the company the fee simple of the land in question, and in the other party a judgment for its value, thus ascertained, which may be enforced by the ordinary process of said court. Sec. IV. Whenever the said canal or rail-road shall intersect any public road, the company shall be bound to build a safe and substantial bridge, to be afterwards maintained by the public; and any public or private bridges may, at any time, be built across the said canal or rail-road, provided such bridges shall not obstruct or incommode the use or navigation of said rail-road or canal. Sec. V. Any person injuring the property of said company, or who structions or shall throw earth, stones, trees, rubbish, logs, or any other matter or thing whatsoever into or upon said canal or rail-road, or its appurte other injuries. nances, shall be punished by indictment as for a misdemeanor, and on conviction may be fined and imprisoned, at the discretion of the court; and shall also be liable for such damages as may be occasioned thereby, to be recovered by action at the suit of said company, or of any person aggrieved, in any court having jurisdiction. Sec. VI. The said company shall be, and it is hereby authorized, Tolls. to fix, settle and determine on the rates of toll to be assessed on all boats, arks, rafts, and every other water craft or thing which may pass the canal; or any thing or any vehicle of whatever character or denomination, and on all merchandize and produce, and all other things which by the regulation of said company shall or may be allowed to pass on the said rail-road, and the same to alter at its discretion: and that for the collection of said tolls, the said company, or its proper officer, may stop and detain all boats, vessels, craft, or rafts, or vehicles, or produce or merchandize using the same, until the toll due thereon be paid; and if any person, in charge of any boat, craft or vehicle subject to toll, shall pass by any place appointed for receiving tolls, without making payment thereof, the person so offending shall forfeit and pay for each offence the sum of $25, to be sued for and recovered by action of debt in any court having jurisdiction thereof. Sec. VII. After the route of such canal or rail-road shall have Exclusive been accurately surveyed and adopted, and a plat thereof deposited in privilege. the department of state, it shall not be lawful for any other canal or rail-road to be built, cùt, or constructed, in any way or manner, or by any authority whatsoever, within ten miles of the route so adopted, unless by the said company, or with the consent of the board of direc tors for the time being. State may stock at par, Sec. VIII. At the expiration of twenty-five years from the comple- After 25 tion of said rail-road or canal, the State shall be authorized to buy at years, the par value the said rail-road or canal, and then continue the use thereof purchase the as the legislature shall determine. But from the completion of said rail-road or canal to the expiration of the twenty-five years thereafter, the president, directors and company of the steam-boat company of Georgia, their agents or assigns, shall have and enjoy all the right, title, and interest in said rail-road or canal, and the profits arising therefrom; and at the expiration of the aforesaid mentioned period, or the charshould the State not deem it advisable to purchase the said rail-road or ter to be percanal, together with all the appurtenances thereunto belonging, then the privileges of this charter shall be extended to the said company, its agents or assigns, forever. petual. rivers, Sec. IX. The said company shall have full power and authority to Crossing carry such rail-road or canal over and along any rivers, creeks, waters, creeks, &c. or water courses, that may be in the route thereof, or any branch thereof, by any suitable bridges, or other proper modes.* An Act to extend an act heretofore passed entitled "An Act for the incorporation of the Steam-boat Company of Georgia."-Approved Dec. 20, 1834. Pam. 134. Dec. 1817 ex 9. The act of the general assembly of this State, passed on the Charter of 19th day of December, 1817, entitled "An Act for the incorporation tended to of the Steam-boat Company of Georgia," be, and the same is hereby 1857. extended to, for, and during the full end and term of twenty years from and after the 19th day of December, 1837; to have vested in the Time for commencing limited to two, and for finishing, to ten years from Jan. 1, 1837. See Sec. 280. |