that purpose, with a debit and credit column, in which an account shall be opened with each creditor or individual owning or holding certificates of stock in such toll road company upon the presentation and assignment to the county of any just claim or evidence of indebtedness due and owing by said toll road company. The County Auditor shall draw a warrant on the county treasury for the amount in full, to be paid in full out of the money belonging to said toll road company derived from the sale of the bonds under the provisions of section five of this act. After all outstanding indebtedness of such gravel or macadamized toll road company has been provided, and the cost and expenses of making such repairs paid for, the owners of shares or certificates of stock in such toll road company or their legal representatives shall be entitled to all moneys pro rata remaining in the county treasury from the sale of bonds, and upon the surrender and assignment of their shares or certificates of stock to the county, the County Auditor shall draw a warrant pro rata upon the county treasury for such pro rata amount, which shall be in full payment of said certificates of stock: Provided, That in no case shall there be a greater sum pro-rated among said stockholders than the appraised price of said toll road after the indebtedness of said company has been taken therefrom as herein provided.

36951. Claims against road. 7. Immediately after the sale of bonds provided for in section five of this act, the County Auditor shall notify, in writing, all persons holding unpaid claims or evidences of indebtedness against said gravel or macadamized toll road company, where the same are due or as fast as such claims become due, to present the same at the Auditor's office of such county for final settlement. And upon the assignment or surrender of any just claim due and owing by such toll road company to the county, the Auditor shall draw a warrant upon the county treasury for the amount of such claim, principal and interest, to be paid out of the moneys derived from the sale of bonds under the provisions of this act. Upon the refusal or failure of any creditor of such toll road company or the legal representative of any claim or evidence of indebtedness to present the same when due and owing, for final settlement and payment within five (5) days of receiving such notice from the County Auditor, as herein provided, then such claim or evidence of indebtedness shall cease to draw interest from the expiration of such date: Provided, That such claim is due and owing by said toll road company at the time of notice.

3695j. Párty in interest not advantage of error in proceeding. 8. No person interested in the appraisement, apportionment, assessment, or conversion of any gravel or macadamized toll road, under the provisions of this act, shall be permitted to take advantage of any errors committed in any of the proceedings of the appraisers, viewers, or any other person or persons, or of any defect or informality that may appear of record, or otherwise, in such proceedings, unless the party complaining is affected thereby, but the Circuit Court in which any action may be brought to enjoin, reverse, or declare void any proceedings, under the provisions of this act, if there be manifest error in such proceedings affecting the rights of the complainants, may set the same aside as to him, or may order the correction of such errors, or may order the taxes levied and assessed against the complainant to remain upon the tax duplicate, or may perpetually enjoin the collection of the same, as may seem most equitable and just: Provided, That the finding of the court shall be final.

3695k. County to be protected from loss. 9. All lands liable to be assessed under the provisions of this act, for the appraisement, assessment, and conversion of any gravel or macadamized toll road into a free gravel road shall be held responsible and liable to the county to protect the same against all loss or liabilities arising from any judicial proceedings affecting the apportionment, assessment or re-assessment, or to defray the costs of litigations or other liabilities of said toll road company, and the Board of County Commissioners shall have power to apportion all such costs and liabilities pro rata, according to the assessments, against the lands benefited in the purchase and conversion of such toll road, which pro rata expense and liabilities shall be placed upon the tax duplicate, and be collected in the same manner and form as other taxes are collected.

36951. Rights of creditors saved. 10. No appraisement, assessment, or conversion of any gravel or macadamized toll road, as herein provided for, shall prejudice or in any way affect the rights or claims of any creditor of such company..

3695m. Repair of converted road. II. Gravel or macadamized toll roads, which have been appraised and converted into free gravel roads under the provisions of this act, shall be kept in repair the same as other free turnpike roads are kept in repair under the act entitled "An act to provide for the repair of free turnpike roads," approved March 24, 1879.

3695n. Employes-Compensation. 12. The compensation of persons employed under the provisions of this act shall be fixed by the Board of County Commissioners, and shall not exceed two dollars per day: Provided, That the Surveyor or Engineer and the County Auditor shall receive such compensation for their services as is now or may be fixed by law for the compensation of the County Auditor and County Surveyor, respectively, for like services in other cases.

3695 0. Saving clause. 13. Nothing herein contained in the provisions. of this act shall be construed as affecting or repealing any law now in force relating to gravel or macadamized toll roads, turnpikes or free gravel roads.

3676. Abandonment of part of road. Where a duly organized turnpike com pany, acting under the advice of counsel, effects a consolidation, under one management, of its property and franchises with the property and franchises of an intersecting company, and the common management acts for more than twelve years, without question by the state, when, by legal proceedings, the consolida tion is declared void and each company, thereupon, assumes control of its own property and exercises its own franchises and so continues to act for more than one year, without objection, there is no forfeiture of its rights by such company. -State v. Crawfordsv, etc. Co., 102-288.

2. Such companies may each assume control, in such a case, of its original road and franchises and, also, of an extension of such original road, for the construction of which articles of association and subscriptions to capital stock were made by the individual company, although the right of way, for such extension, was petitioned for by and granted to the consolidated company.- Crawfordsv. etc. Co. v. State, 102-442.

3688. Judgment and proceedings. This section confers authority on courts to enter judgment of forfeiture of corporate franchises, against a gravel road company, for allowing its road to be and remain out of repair for the space of six months, or more. - Crawfordsv. etc. Co. v. Fletcher, 104–100.

3693. Assessments before March 13, 1875, collectible. Statute of March 11, 1867, authorizing plank and other road companies to procure assessments on land, in aid of the construction of roads, is constitutional.-R. R. T. Co. v. Scott, 32-37; S. C., 32-325; Law v. M. S. & G. T. Co., 30-77.

3696. How formed.

3697. Increase of stock.

3698. Election of directors- -Seal-Evider.ce.

SEC.

3699, Powers.

3700. Officers- Bonds- Calls.

3701. Act limited - Assessment of damages.

[1865 S., p. 132. In force April 13, 1866.]

3696. How formed. 1. Any number of persons, not less than ten, being subscribers of the stock of any contemplated hydraulic company, may be formed into a corporation for the purpose of constructing, maintaining, and owning such hydraulic power, by complying with the requirements following: They shall unite in articles of association, setting forth the name of the proposed corporation, the route, course, or canal proposed to be used or taken for said purpose, and place of location thereof (town and county) where to be constructed. Capital-stock, number of shares into which divided, and amount taken by each, shall be subscribed to said articles of association. When the stock subscribed shall amount to a sufficient sum to complete the work according to the estimate of an engineer, copies of the articles of association shall be filed in the Recorder's office of the county where said company is formed.

3697. Increase of stock. 2. It shall be lawful for any company so formed to increase its capital-stock, from time to time, as may be necessary for the purpose of completing, maintaining, and improving said hydraulic power, or for any other purpose properly connected with the object of the organization, by filing an additional certificate of number of shares, amount, and names of stockholders.

3698. Election of directors-Seal-Evidence. 3. Not less than five directors shall be elected by the stockholders of the corporation, who shall hold their offices for two years and until their successors are elected and qualified. Notice of the first election shall be given by publication in a newspaper; and the board of directors may organize by choosing a president and secretary of their own body, and from thenceforth shall be considered a body corporate and politic in perpetuity, by the name stated in the articles of association, and shall be capable of suing and being sued, and may have a common seal, and shall be capable, in law, of purchasing, holding, and conveying any real estate or personal property for said hydraulic purposes. All notes, bonds, or contracts entered into by the company, signed by the president, shall be binding on the company. A certified copy of said articles of association, given by the Recorder of the county where filed, shall, in all Courts and places, be presumptive evidence of the incorporation of such company and of the facts therein stated

3699. Powers. 4. The said corporation shall have power, with the

consent of the owners of the real estate along said water-course or proposed hydraulic canal, to use any water-course in the county and erect any dams across the streams named in the articles of association; to cut races or canals; make pools or basins to conduct the water to its mills or machinery; and have the right-of-way and water by paying the assessed damages thereof to the owners; or [to use] any canal that has been abandoned by an organized company by and with the consent of the directors or stockholders of said canal company; have power to purchase and hold the said canal or part purchased from said company; or if said canal has ceased to be used for the purpose made and been abandoned by the canal company, then it shall be lawful for said corporation to take possession of, maintain, and hold the same for purposes contemplated in its articles of association. 1. By the Act of December 21, 1865, hydraulic powers for manufacturing purposes are also conferred on manufacturing and mining companies. See $$ 3873 to 3878. 3700. Officers-Bonds-Calls. 5. The board of directors shall have power to appoint subordinate officers, agents, engineers, artists, and workmen that may be necessary to carry out the objects of said company; and take bonds from any officers appointed and made payable to said company; and to demand, at such time and in such proportions as they shall see fit, the sums of money from stockholders on their respective subscriptions, provided that not more than twenty-five per cent. upon each share annually shall be paid, and upon the payment of the stock, the company shall issue bonds therefor or certificates of stock.

3701. Act limited-Assessment of damages. 6. Nothing in this Act shall be construed to authorize any corporation to take possession of any part of the Wabash and Erie canal. And be it Provided, That nothing in this Act shall prevent or deny the right of the writ of assessment of damages

[1867, p. 145. In force March 9, 1867.] 1 3702. Entry-Survey - Appropriation. 1. Any hydraulic company incorporated under any general law of this State, whose purpose it is to create a water-power by the erection of a dam across any river of this State, of sixty-five feet in width and upwards, may enter upon any lands (being responsible for any damages that may accrue by such entry), for the purpose of examining and surveying the ground upon which such company may desire to abut such dam on both sides of such river, not exceeding two acres at either end of such dam, and also to examine and survey all lands that may be overflowed by the erection of such dam, not exceeding one hundred acres, and also to examine and survey all lands that may be necessary for such company to use for a lock around such dam and for a race or races and aqueducts to convey the water from such dam to a convenient place for its use as a power to propel machinery, and sufficient grounds, not exceeding ten acres, upon which to use said water-power for the purposes aforesaid; and such company is hereby authorized to appropriate so much of said lands as it may deem necessary for the purposes aforesaid.

3703. Proceedings to appropriate. 2. Such company shall forth

with deposit with the Clerk of the Circuit or other Court of record of the county where the land lies, a description of the rights and interests intended to be appropriated; and such lands, rights, and interests shall belong to such company, to use for the purposes specified, by making or tendering payment as hereinafter provided. The company may, by its directors, purchase any such lands or interest of the owner; or, in case the same is owned by a person insane or an infant, at a price to be agreed upon by the regularly constituted guardian or parent of said insane person or infant, if the same shall be approved by the Court in which the description shall be filed; and on such agreement and approval, the owner, guardian, or parent, as the case may be, shall convey the said premises so purchased, in feesimple or otherwise, as the parties may agree, to such hydraulic company; and the deed, when made, shall be deemed valid in law. If the company shall not agree with the owner of the land, or with his guardian, if the owner be incapable of contracting, touching the damages sustained by such appropriation, such company shall deliver to such owner or guardian, if within the county, a copy of such instrument of appropriation. If the owner (or his guardian, in case such owner be incapable of contracting) be unknown, or do not reside within the county, such company shall publish, in some newspaper of general circulation in the county, for the term of three weeks, an advertisement reciting the substance of such instrument of appropriation. Upon fixing [filing] such act of appropriation, and delivery of such copy or making such publication, the Circuit or other Court of record in the county where the land lies, or any Judge thereof in vacation, upon the application of either party, shall appoint, by warrant, three disinterested freeholders of such county to appraise the damages which the owner of the land may sustain by reason of such appropriation. Such appraisers shall be sworn; they shall consider the injury which such owner may sustain by reason of such appropriation; and shall forthwith return their assessment of damages to the Clerk of such Court, setting forth the value of the property which they assess to the owner or owners separately, to be by him filed and recorded; and thereupon such company shall pay to said Clerk the amount thus assessed, or tender the same to the party in whose favor the damages are assessed; and on making payment or tender thereof, in the manner herein required, it shall be lawful for such company to hold the interest in such lands so appropriated. The costs of such award shall be paid by such company; and on notice by any party interested in said proceedings, the Court may order payment thereof, and enforce such payment by execution. The award of said appraisers may be reviewed by the Court in which they are had, on written exceptions filed by either party in the Clerk's office within ten days after the filing of such award; and the Court shall take such order therein as right and justice may require, by ordering a new appraisement, on good cause shown: Pro vided, That notwithstanding such exceptions and review or of an appeal from the judgment of said Court, such company may take possession of the property therein described as aforesaid, and the subsequent proceedings on review or appeal shall only affect the amount of compensation to be allowed. If put into the exceptions to the award, such company shall tender to such owner, or, if he be incapable to contract, to his guardian, the amount of such assessment.

3704. Companies may appropriate. 3. Any other hydraulic com.