all such products, materials, and estate at pleasure; and to the purposes aforesaid the business of said company shall be confined: Provided, however, That whatever may be necessary and expedient as incidental to said business, is not excluded from the power of said company. § 5. Said company may borrow money on such terms, and secure the same in such way, as may be prescribed by the by-laws, or determined on by the stockholders; but no banking privilege is hereby granted to said company. § 6. This act shall take effect from and after its passage. Approved February 6, 1860. 1860. CHAPTER 144. AN ACT to incorporate the Mt. Freedom and Buena Vista Turnpike Road Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That persons who subscribe stock to construct a turnpike road from near Mt. Freedom church, in Jessamine county, crossing the Kentucky river near the mouth of Jessamine, to some convenient point near the residence of Hardin Perkins, in Garrard county, be a body politic and corporate, under the style of the Mt. Freedom and Buena Vista Turnpike Road Company, and by that name may sue and be sued, and shall have perpetual succession; the capital stock of which shall not exceed twenty-five thousand dollars. Corporate powers. Comm'rs to § 2. The following persons shall be commissioners to obtain stock in said company: Matthew Campbell, Jerome open books. Sparks, Warren Hawkins, James McMurtry, William Overstreet, E. J. Terrill, and H. Z. Perkins, any two of whom may act; they may, at any time they think proper, cause the books for the subscription of stock to be opened, after having given ten days' notice of the time and place of meeting, at five or more public places in the vicinity of the proposed road. The stockholders shall be authorized to organize and elect a board of officers, whenever five thousand dollars is subscribed, and ten days' notice of such election has been posted up in five or more public places in the vicinity of the stockholders. road. §3. The road shall be under the control and manage- Who to manage ment of a president and four directors, who shall, after the first election, hold their offices one year, and until their successors are elected and qualified; the first board of officers shall be elected at such time and place as commissioners who act may direct, who shall hold their offices until the first Monday in May succeeding, and until their successors are elected and qualified. 1860. One hand § 4. That persons who subscribe stock in said company shall have one hand exempt from working on county roads, exempt from for every one hundred dollars they may subscribe and pay for each share in said company. After the said road is completed, the exemption shall only apply so long as such stockholder resides, or has hands living, in the vicinity of said road. work'g on roads subscribed. plicable. § 5. The provisions of an act of the General Assembly Provisions of of the Commonwealth of Kentucky, approved the 1st of another act ap- March, 1844, entitled "An act to incorporate the Danville and Houstonville turnpike road company," so far as the same are not changed by this act and are applicable, shall be the law governing the company hereby incorporated: Provided, That notices for calls on stock or meetings shall not be given in any newspaper; all such notices shall be given by posting up advertisements. § 6. The directors of said company shall be allowed to regulate the elevation of the grade of said road as they may think proper, so it does not exceed five degrees. § 7. This act shall take effect from its passage. Approved February 6, 1860. bring action in CHAPTER 145. AN ACT for the benefit of the creditors of the New Orleans and Ohio Telegraph Company. WHEREAS, It is represented that said company did, on the 20th of July, 1854, lease, alien, and convey to William D. Reid and others, for the full term of fifteen years from the first day of July, 1854, among other things, all their line of telegraph in Kentucky, together with all and singular the rights, franchises, and privileges belonging to said company; and whereas, it is represented that said company is insolvent; that executions against it have been returned no property found, and that it has no property which is subject to execution as the law now stands; therefore, Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That any creditor of said company may bring an Creditors may action in the Louisville chancery court against said comLouisville ch'y pany, for the benefit of himself and all the other creditors of said company, for the settlement of the debts and claims against said company. court. Court may or der reversiona ry interest of company to be sold. § 2. In said action, if it shall appear that said company has not sufficient property to pay all its debts, the court may order the reversionary interest of said company in its telegraph line, and all its rights, privileges, and franchises, to be sold for the payment of such debts and claims. 1860. Creditors to ap § 3. In said action the court shall make an order for the creditors of said company to appear before the commissioner of the court, and prove their claim, by a certain pear before day, to be named in the order; notice of which shall be commissioner & given by advertisement in a newspaper. prove claim. Creditor pre senting claim to com'r becomes party to the ac tion. § 4. A creditor appearing before the commissioner, and presenting his claim, becomes thereby a party to the action, and is concluded by the final judgment of the court, allowing or rejecting his claim; from which, however, an appeal may be prosecuted, as in other cases. § 5. The proceeds of said sale shall be distributed among Proceeds of sale the creditors pro rata. to be divided pro rata. Purchaser of interest possesses rights of company. § 6. The purchaser or purchasers of said reversionary interest, rights, and franchises, shall have and possess all reversionary the property, rights, and franchises of said company. Surplus to be § 7. Any surplus, after paying all of the debts of said company, shall be equally divided among the stockholders. divided among § 8. This act to take effect from its passage. stockholders. Approved February 6, 1860. CHAPTER 147. AN ACT to amend an act incorporating the Kentucky Farmers' Mutual Insurance Company. Be it enacted by the General Assembly of the Commonwealth. of Kentucky: § 1. That section seven, of the Kentucky Farmers' Insurance Company, be so amended that every person who shall become a member of said corporation, by effecting any insurance therein, shall, before he receives a policy, deposit his promissory note for such sum as may be determined by the directors, and pay the rates that shall be determined by them, a part not exceeding twenty per cent. § 2. That said company shall, hereafter, have power to take risks out of this State in the same manner, and under the same regulations, that they are authorized to take them in this State. § 3. That this act shall take effect from and after its passage. Approved February 6, 1860. 1860. CHAPTER 148. AN ACT to appoint A. S. Brown a reviewer on the State Road leading from Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That A. S. Brown, of Marshall county, be, and he is hereby, appointed a commissioner to fill the vacancy occasioned by the death of R. O. Morgan, to review and locate a State road, leading from Paducah to Hopkinsville, and he shall act in conjunction with the commissioners appointed by, and in accordance with, an act for that purpose, approved 17th February, 1858. §2. This act shall take effect from and after its passage. Approved February 6, 1860. style, and cor CHAPTER 152. AN ACT to incorporate the Russellville and Franklin Turnpike Road Company. Be it enacted by the General Assembly of the Commonwealth of Kentucky: § 1. That a company shall be, and is hereby, incorporated Name and to construct a road from Russellville to Middleton, in Logan porate powers. County, by the name and style of the "Russellville and Franklin Turnpike Road Company," and by that name may sue and be sued, may plead and be impleaded, contract and be contracted with, and have and use a common seal, and change, alter, or amend the same at pleasure. §2. That the capital stock of said company shall be Capital stock. twenty-five thousand dollars, to be divided into shares of fifty dollars each; and if it shall be ascertained that the amount of capital stock is not sufficient to accomplish the object of this act, then the president and directors may increase it to such amount as they may deem necessary, and open subscriptions therefor, in such way as they may deem best. to open books. § 3. That George W. Munday, Joseph Offutt, Dr. R. N. Commissioners Beauchamp, Will Morton, W. L. Harding, Henry L. Gillum, John Finch, Chas. P. Gillum, Jessee Harper, and F. G. Harvey, are hereby appointed commissioners, whose duty it shall be to open books for the subscription of stock. In case the said persons shall refuse to act, from any cause whatever, the county court of Logan may, from time to time, fill any vacancy, or appoint some other person to act in place of such one or more of said commissioners, who may refuse to act. The said commissioners shall give notice of the time and place when and where books are to be opened for subscription of stock in said company. § 4. That so soon as one hundred shares shall have been subscribed by individuals and companies of said capital 1860. When meeting Officers of road to take oath. and receive the stock, the commissioners shall give ten days' notice thereof, in some newspaper printed in the town of Russellville, of the fact, and appoint a time and place for a meeting of the to be called, & stockholders in Russellville, who shall, by vote or written officers elected. proxy, elect a president and five managers, to conduct the business of said corporation, by the style aforesaid; the president and managers, and all other officers of said company, shall severally take an oath before some justice of the peace, faithfully to discharge the duties of their respective offices; they shall, so soon as may be, locate said road, or any part thereof, and are hereby authorized to receive the written consent of any landholder through whose, or near whose lands the said road may pass, and the grant of the right of way, timber, stone or soil, to make said road, or keep the same in repair, which consent, when so given, shall be valid to every intent and purpose. And if most practicable, in the discretion of said company, said road, or any part thereof, may be constructed over the way now leading from Russellville to Middleton, as a public road. To locate road right of way. § 5. That said road shall be open at least thirty feet Width of road. wide, or wider if necessary, not to exceed fifty feet, and degrees, at least fifteen road, where the ground shall be graded not to exceed feet wide at the bottom of said will admit such width and grade. When gate § 6. That when said road shall be opened and graded, for any distance thereof, equal to five miles, it shall be law- may be erect'd. ful for said company to erect a gate, or gates, upon the same, and collect for the travel on said road one half of the rates of tolls usually collected on finished turnpike roads, and at the same rates for any greater distance of said road, as soon as the same shall be opened and graded, as aforesaid; and whenever the said road shall be paved with stone, or macadamized with stone or hard gravel, at least fifteen feet wide, then the said company shall have full power to charge and collect full toll for so much of said road as may be completed. $7. That the president and directors and company may take and use any timber, earth, gravel, stone, or other materials necessary for the construction or repair of said road, or any of its works; and may, for the purposes aforesaid, either by themselves or agents, or those with whom they may contract, enter upon, use, and excavate any such materials as may be wanted for the building or repair of said road, or for the erection of buildings necessary to its construction or repair: Provided, Such damages shall be first paid to the owners thereof as may be assessed by a jury under a writ of ad quod damnum, issued by the Logan county court, as in other cases provided. 44 May take and use timber, &c. |