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Proceedings and Acts of the General Assembly, 1870
Volume 188, Page 2705   View pdf image (33K)
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offered, may at any time thereafter be received
from the Company without cost by the said owner
or owners, or his, her or their legal representa-
tive or representatives, and every juror shall be
entitled to one dollar per day while in attendance,
and the Sheriff to regular fees as for similar ser-
vice; provided always, that no timber shall be
cut on any land other than the bed of the Railroad
Company, by order of the said Railroad Company,
or taken by them for the use of the said road with-
out consent of the owner.

Increase stock

Sec. 3. And be it enacted, That the President
and Directors of said Company, or a majority of
them, be and they are hereby authorized from
time to time to increase the capital stock, as the
exigencies of the Company may in their judgment
require, by an amount not exceeding in the aggre-
gate the sum of three hundred thousand dollars,
and to dispose of the remaining capital stock not
already issued, and all capital stock as so increased,
in such manner as they or a majority of them shall
deem expedient; and the said President and Direc-
tors, or a majority of them, shall have power to
issue the bonds of said Company to an amount not
exceeding the sum of three hundred thousand dol-
lars, in denominations of one hundred, five hun-
dred and one thousand dollars, payable in the year
nineteen hundred, with interest meanwhile, semi-
annually, and convertible, at the option of the
holder, into the stock of said Company, and to
secure the payment of such bonds and interest by


a mortgage or mortgages upon the road bed,
tracks, rolling stock and machinery of said Com-
pany, and its surplus tolls and revenues; and the
holders of said bonds shall be entitled to partici-
pate in the election of President and Directors,
and shall be entitled to four votes for each one
hundred dollars of bonds held by them, and shall
be eligible for office to the same extent as the
holders of the capital stock.


Sec. 4. And be it enacted, That one additional
Director be chosen by the present Board of Direc-
tors, and that in all future annual elections by the
stock and bondholders five Directors shall be
chosen, who shall elect a President from their own
number, who shall, when present, preside at all



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Proceedings and Acts of the General Assembly, 1870
Volume 188, Page 2705   View pdf image (33K)
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