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for any purpose whatsoever, be, and the same are hereby, reserved to the United States from the operation of this act, except so far as it may be found necessary to locate the routes of the said railroad and branches through such reserved lands.
§ 3. And be it further enacted, That the sections and parts of sections of land which by such grant shall remain to the United States within six miles on each side of said road, shall not be sold for less than double the minimum price of the public lands when sold.
§ 4. And be it further enacted, That the said lands hereby granted to the said States shall be subject to the disposal of the Legislatures thereof, for the purposes aforesaid and no other; and the said railroad and branches shall be and remain a public highway for the use of the Government of the United States, free from toll or other charge upon the transportation of any property or troops of the United States.
§ 5. And be it further enacted, That the lands hereby granted to said States shall be disposed of by said States only in the manner following that is to say, that a quantity of land not exceeding one hundred and twenty sections, and included within a continuous length of twenty miles of said road, may be sold; and when the Governors of said State or States shall certify to the Secretary of the Interior that twenty continuous miles of said road is completed, then another like quantity of land hereby granted may be sold; and so from time to time until said road is completed; and if said road is not completed within ten years, no further sales shall be made, and the land unsold shall revert to the United States.
§ 6. And be it further enacted, That the United States mail shall, at all times, be transported on the said road and branches, under the direction of the Post-Office Department, at such price as Congress may, by law,
Approved February 9, 1853.
HANNIBAL AND ST. JOSEPH RAILROAD COMPANY.
THE ACT INCORPORATING, AND ALL ACTS AMENDATORY THEREOF.
AN ACT to incorporate the Hannibal and St. Joseph Railroad Company.
1. Company incorporated; style; its |§ powers and duties.
2. Amount of stock; shares; when business to commence.
3. Books to be opened, when and where. 4. Powers of the corporation.
5. Banking privileges not granted.
Be it enacted by the General Assembly of the State of Missouri, as follows:
§ 1. That Joseph Roubidoux, John Corby, and Robert J. Boyd, of St. Joseph, in Buchanan county; Samuel J. Harrison, Zachariah G. Draper, and Erasmus M. Moffett, of the city of Hannibal; Alexander McMurtry, of Shelby county; George A. Shortridge and Thomas Sharp, of Macon county; Wesley Halliburton, of Linn county; John Graves, of Livingston county; Robert Wilson, of Daviess county; and Geo. W. Smith, of Caldwell county; and all such persons as may hereafter become stockholders in the said company, shall be, and they are hereby, created a body corporate and politic in fact and in name, by the name and style of the Hannibal and St. Joseph's Railroad Company, and the same title; the stockholders shall be in perpetual succession, and be able to sue and be sued, implead and be impleaded, in all courts of record and elsewhere; and to purchase, receive, have, hold, and enjoy to them and their successors lands, tenements, and hereditaments, goods, chattels, and all estates, real, personal, and mixed, of what kind or quality soever, and the same from time to time to sell, mortgage, grant, alien and convey, and to make dividends of such portion of the profits as they may deem proper; and also to make and have a common seal, and the same to alter or renew at pleasure; and also to ordain, establish and put in execution such by-laws, ordinances and regulations as shall appear necessary and convenient for the government of said corporation, not being contrary or repugnant to the constitution and laws of the United States or of the State of Missouri; and generally to do all and singular the matters and things which to them it shall lawfully appertain to do for the well being of the said corporation and the due management and
ordering of the affairs of the same; Provided always, that it shall not be lawful for the said corporation to deal or use or employ any part of the stock, funds, or money in buying or selling any wares or merchandise in the way of traffic or in banking or brokering operations.
§ 2. That the capital stock of said corporation shall be two million of dollars, divided into twenty thousand shares of one hundred dollars each; and it shall be lawful for said corporation, when and so soon as in the opinion of the individuals named in the foregoing section a sufficient amount of stock shall have been taken for that purpose, to commence and carry on their said proper business and railroad operations, under the privileges and conditions herein granted.
§ 3. That the said company are hereby authorized and empowered to cause books for the subscription of stock, to be opened at such times and places. as they may deem most conducive to the attainment of the stock required.
§ 4. The said company [shall] have power to view, lay out, and construct a railroad from St. Joseph's, in Buchanan county, to Palmyra, in Marion county, and thence to Hannibal, in said county of Marion, and shall in all things be subjected to the same restrictions and entitled to all the privileges, rights and immunities which were granted to the Louisiana and Columbia Railroad Company by an act entitled "An act to incorporate the Louisiana and Columbia Railroad Company," passed at the session of the General Assembly in 1836 and '37, and approved January the 27th, 1837, so far as the same are applicable to the company hereby created, as fully and cɔmpletely as if the same were herein re-enacted.
§ 5. Nothing in this act nor in that to which it refers shall be construed so as to allow said company to hold or purchase any more real estate than may be necessary and proper for the use of the road and the business transacted thereon.
This act to take effect and be in force from and after its passage.
AN ACT to incorporate the Louisiana and Columbia Railroad.
Be it enacted by the General Assembly of the State of Missouri, as follows:
§ 1. There shall be incorporated a company to be called the Louisiana and Columbia Railroad Company, the capital stock whereof shall be one million of dollars, or so much as may be necessary to execute the objects of said company, as hereinafter provided, to be divided into shares of one hundred dollars, the holders whereof, their successors or assigns, shall constitute and be a body corporate and politic, by the name and style aforesaid, and by that name shall have perpetual succession; may sue and be sued, plead and be impleaded, defend and be defended in any and all courts of justice whatever; may make and use a common seal, and the same alter or renew at pleasure; shall be able in law and equity to make and enforce all kinds of contracts; may take, hold, use, possess and enjoy the fee simple or any other title or estate, in any real estate, lands, tenements, or hereditaments, and the same to sell and dispose of at pleasure; may make such by-laws, rules and regulations as may be necessary or proper for the carrying into effect the provisions and true intent and meaning of this act, not repugnant to the constitutions or laws of the United States or this State.
§ 2. Adam B. Chambers, Michael Reynols, Isaac Herrick, Phineas Block and John S. McCune of Pike county; and William Cornelius, Sinclair Kirtley, Richard Gentry and David M. Hickman of Boone county, or a majority of them, shall constitute the first Board of Directors under this act, and shall hold their office until their successors are duly elected and qualified; and if any of the persons herein name decline, refuse or fail to act, the residue may appoint some suitable person or persons to fill the vacancy. The Directors herein named, shall meet at such time and place as may be designated by a majority of them, and organize themselves into a Board of Directors. The Directors when organized, shall cause books to be kept opened for the subscription of the capital stock at such times and places as they may designate, and under either the supervision of one or more of the Directors, or such other persons as they may appoint; said books may be reopened for further subscriptions to the stock, as often and at such places, and under the supervisions of such persons as any Board of Directors may deem proper, until the whole amount is taken up.
§ 3. As soon as one thousand shares shall have been subscribed, the Directors shall cause an election to be held for the election of nine Directors, at such time and place as they may designate, having first given public notice thereof in one or more public newspapers printed in the State.
§ 4. An election shall be held on the first Monday of November in every year after the first election, for nine Directors for said Company; in the event of a failure to hold such election, this charter shall not, for that reason, be forfeited or vacated, but an election shall be held at such other time as the Directors may designate; said elections shall be by ballot, and under the supervision of one or more of the stockholders, who shall be sworn, and the persons having the highest number of votes shall be elected. Every stockholder shall be entitled to one vote for each share by him held, and any stockholder not present, may vote by proxy, in writing duly executed to the person wishing to vote; but no Director shall be at liberty to act as proxy for any stockholder. No person shall be eligible to the office of Director unless he be at the time of his election, a stockholder in said company; and if any Director shall, at any time after his election, cease to be a stockholder, his office shall be thereby vacated. The Directors shall hold their office for one
year after their election, and until their successors are elected and qualified. They shall meet within a reasonable time after their election, and choose from their number one who shall act as President, who shall hold that office for the term for which he was elected Director.
§ 5. The Directors elected shall receive from the Directors appointed by this act, all the papers and books belonging to the company. The Directors shall have power from time to time, to appoint Agents, Clerks, Treasurer, Engineers, Superintendents, Artist, and all such other officers and persons necessary or proper to carry into effect the objects of this act. They shall keep a journal of their proceedings, in which shall be entered all by-laws, rules and regulations made by the Board, and all orders for the payment of money; and any one member of the Board may require the ayes and noes to be entered thereon, upon any vote given by the Board, which journal shall be signed by the President. The Directors may designate by the by-laws, what number of their body shall constitute a Board to do business; they_may_appoint committees from their own body. In the absence of the President, they may appoint a President pro tem. who shall, for the time of his appointment, have the powers of the President. They may fill all vacancies which may occur in their body, and the person thus appointed, shall hold his office until the next general election. They may fix the salaries of the President and all other persons employed by them, but no Director shall receive any compensation for his services as Director. They may prescribe the manner of transferring the stock on the books of the company; may take from persons employed, security for the faithful discharge of their duties; may prescribe the manner in which all notes, bonds, bills or contracts shall be signed or attested; shall have power to issue the bill and other evidence of debt of the company; but they shall not issue any bill or note, or other thing for the purpose of circulation in the community, nor shall they, in any way, exercise any banking rights or privileges.
§ 6. The Directors shall have power to call for such portions of the stock subscribed, not exceeding thirty per cent. on each share, every six months, as they may think proper, by first giving sixty days' notice of the amount, time, and place of payment, in the public newspapers printed in the counties. through which the road is to pass, or by written notice to the stockholders; and if any stockholder shall refuse or neglect to pay such requisition within five days after the time appointed for the payment, the company may bring suit against such delinquent, and recover the amount thereof, with two per. cent. interest per month thereon; and if the amount cannot be collected on execution, or if such delinquent shall not reside in the State, the Directors may within six months thereafter, by an order of their books, declare the stock of said delinquent to be forfeited to the company, together with all payments made thereon; and the stock thus forfeited may be sold by the Directors. No delinquent shall be allowed a vote at any election, or otherwise participate in the benefits of the company, until he has fully paid all sums and interest due as aforesaid.
§ 7. The Company, by their agents or Directors, shall have full power and authority from time to time, to examine, survey, mark and locate the route for a railroad for a single and double track, the same not to be more than one hundred feet wide, commencing in the town of Louisiana, in the county of Pike, and from thence through Bowling Green, in the same county, to the town of Columbia, in the county of Boone, with full power in all cases to diverge from a direct line, whenever in their opinion the interest of the com