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To incorporate the Port Ulloa and Grafton Road
Be it enacted by the Council and House of Representatives of the Territory of Wisconsin :
Section 1. That James T. Gifford, Daniel Wells, Jr., Phineas M. Johnson, Jacob T. Adrianca, William Schroder, Commission.
ers appoinied. and George Lamberton, be, and they are hereby appointed commissioners under the direction of a majority of whom subscriptions may be received to the capital stock of the Port Uls loa and Grafton Company, and they may cause books to be opened at such times and places as they shall direct, for the purs pose of receiving subscriptions to the capital of said company, first giving thirty days' notice of the times and places of taking such subscriptions, by publishing the same in news. papers printed in Milwaukee and Washington counties.
Sec. 2. All persons who shall become stockholders pursu- Stockholders ant to the provisions of this act, are hereby created a body corpo- dy corporate. rate in law, with continual succession, for fifty years, by the name and style of “The Port Ulloa and Grafton Road Com. Name and
style of cor. pany,” for the purpose of constructing a charcoal, gravel, or poration, stone road from Port Ulloa, in the county of Washington via. Grafton, in said county, and also on to Rock river, as the company may
proper. Shall have power to sue and be sued in all courts, to receive by gift or purchase, and hold all such real and personal estate as may be necessary for the construction and management of said road, to contract or be contract. ed with, in all matters pertaining to the object of said road; to have and use a common seal, and pass all bye-laws necessary for the government of said company.
Sec. 3. The capital stock of said company shall be fifty Amount of thousand dollars, to be divided into shares of ten dollars each; capital stock.
said road, any land upon which the same may be located, assessed and paid for, and the owner or owners of said land shall refuse to permit
such entry, or occupation, and the parties cannot agree upon the compensation to be made for any injury that may be done to such land by such entry and occupation, it shall and may be lawful for the parties to appoint three disinterested persons to estimate such damage, who shall take an oath or affirmation, fairly and impartially to estimate the same, and who shall reside within the county where the land lies. The expenses incurred by said appraisers, shall be defrayed by the said company, but if the parties cannot agree upon such persons, or if the persons so chosen shall not decide upon the matter, or if the owner of such land shall refuse or neglect to join in such appointment within twenty days after the requisition for that purpose upon him made, or if such owner shall be under legal disability or out of the territory, then it shall be lawful for the judge of the district court of the district in which (such) land lies, on application of either party, and at the cost and charges of said company, to appoint three disin. terested persons of the said county, to view and examine said lands, and estimate the injury or damage, if any in their judgment will be sustained as aforesaid, by reason oi the location of said road, and report the same under oaih or affirmation, to the district court of said county, which report being confirmed by said court, judgment shall be entered thereon. The said viewers shall be entitled to two dollars per day each, for their services, to be paid by the said company in all cases where the damage shall be assessed to a greater amount than the sum that may have been rendered by said company for the use of said land, or be paid by the owner or owners in all cases where the assessed damages shall not be greater than the sum thus tendered : Provided, that in case the owner of such land shall be under any legal disability, the costs of such assessment shall be paid by said company, and it shall be the duty of the appraisers in estimating such damages, to take into consideration the advantages that may accrue to the owner of said lands from the construction of said road: Provided further, that either party may appeal to
the said court within thirty days after such report may have
What officers secretary, treasurer, and such other officers as they may find
may be apnecessary, and shall have full power to decide the time and pointedmanner and proportions in which the said stockholders shall pay the money due on their respective shares, and to forfeit How stock
forfeited. to the use of the company any share or shares held by any such person or persons failing to pay an instalment so required to be paid, after advertisement of the same for a period not less than sixty days, in one or more newspapers, as hereinafter provided : Prorided, that no instalment called in at any one time shall exceed two dollars per share, andthat no instalment shall be called by the directors without giving at least thirty days' notice in the newspapers as aforesaid.
Sec. 12. The directors elected as aforesaid shall issue a certificate to each stockholder for the number of shares he Certificate is. shall subscribe for or hold in the said company, signed sued to stock
holders. by the president, countersigned by the secretary, and sealed with the common seal; subject, however, to all the payments due and to become due thereon; which stock may be transferable in person, or by attorney, executors, administrators, guardians or trustees, under such regulations as may be provided in the bye-laws of the company. Sec. 13. · At each annual meeting of the stockholders for Annual state.
ment when the purpose of electing di
of electing directors, the directors of the preced -made.
business shall be transacted at such special meeling unless a majority in value of all the stock shall be then and there represented.
Sec. 14. On the completion of said road, or any portion of the track not less than three consecutive miles, the compa
ny may erect one or more loll-gates upon their road, but not Toll gates
at a less distance than three miles apart, and may demand may be erected.
and receive such tolls as from time to time they think reasonable, not exceeding two cents per mile for any vehicle drawn by two animals; and for any vehicle drawn
by more than two animals, one half-cent per mile for Rates of toll.
every additional animal; for every vehicle drawn by one animal, one cent per mile; for every horse and rider, or led horse, three quarters of a cent per mile; and for every twen. ly sheep or swine, and for every twenty neat cattle, one cent per mile: Provided, that it shall be the duty of said company, during the month of January in each year after the
completion of such portion of ihe road as will authorize them Company to to erect one or more toll-gates, to make a report to the legreport to legislature.
islature, setting forth particularly the amount of capital invested, the length of road in operation, the expenses paid and tolls collected during the preceding year, and generally such information in regard to the affairs of the company as the legislature may require ; which report shall be verified by the oath or affirmation of the president or secretary, and one of the directors of said company.
Sec. 15. If any person shall wilfully and knowingly obstruet, break, injure or destroy the road so to be constructed by said
company, or any part thereof, or any work, building or fixture Penalty for, attached to or in use upon the same, belonging to said cominjury io road
pany, such person or persons so offending shall each of them, for every such offence, be liable to a civil suit for the recovesy of damages by said company, in any court having competent jurisdiction in the county wherein the offence shall have been committed, and shall also be subject to indictment, and upon conviction of such offence shall be punished by fine and imprisonment, or either, at the discretion of the court.
Sec. 16. The property of every individual which may be Stock liable
to be taken invested in said corporation shall be liable to be taken for de bt. in execution for the payment of his or her debts in such manner as is or may be provided by law.
Sec. 17. The debts and liabilities of said corporation shall not exceed in amount at any one time, fifty per cent. of its Liabilities
limited. capital actually paid in, and if debts and liabilities shall at any time be incurred to a greater amount than by this section is provided for, the directors of said company shall be jointly and severally and individually liable for such excess, in addition to their other liabilities at law and as provided for in this act.
Sec. 18. The directors of said company may at any an- How stock nual or special meeting of the stockholders, with the consent may be in
creased. of a majority in amount of such stockholders, provide for such increase of the capital stock of said company as may be found necessary to complete said road in such sections as may have been actually commenced, but remain in an unfinished state for want of means and for the further purpose of extending the road from time to time towards its terminus on Rock river. Provided, that the whole stock of said company shall not be so increased as to exceed at any time four thousand dollars per mile for each mile of road. Sec. 19. If said company shall misuse or abuse any of the Charter may
be resumed. privileges hereby granted, the legislature may resume all and singular the rights and privileges rested in said company by this act, and may establish rules and regulations for the government of said company in relation to said road and the use of the same.
Sec. 20. This act may be altered or amended by any Act may be future legislature of the territory or future state of Wiscon- altored or
HORATIO N. WELLS,
President of the Counci. APPROVED March 11, 1848.