« AnteriorContinuar »
Rights and privileges.
SEC. 2. The capital stock of said corporation shall be one million dollars, divided into shares of one hundred dollars each, but the said capital may be increased from time to time under such rules and regulations as may be prescribed by the President and Directors of said company; Provided, Any increase of the capital stock shall be approved by the stockholders at a regular or called meeting.
SEC. 3. The said company shall have the right and privilege to construct and complete a railroad of standard gauge, the rails of which shall not be less than 56 pounds to the lineal yard, for the transportation of passengers, produce, goods and all other articles of freight, together with a telegraph and telephone line from a point to be selected on the northern boun. dary line of the State of Florida, and running in a southerly and southeasterly direction to New Smyrna, or a point to be selected on the Atlantic coast; thence along the eastern and southern coast of the State of Florida to Key West, or to the nearest and most practicable point to the same, and the right of way is hereby granted for sixty feet on either side of the centre line of said railway.
SEC. 4. The said company shall have the right to construct their road over the lands of any one and to bridge navigable streams and rivers with suitable drawbridges, by complying with the general incorporation acts of the State of Florida and the amendments thereto; and all powers, privileges and benefits granted to railway corporations by said acts and amendments are hereby conferred on the Georgia, Florida and Key West Railway Company, not inconsistent with the provisions of this act.
SEC. 5. Until a Board of Directors have been duly elected and installed the above named corporators, or a majority act as directors. thereof, shall have all the power and authority of said Board
Commencement and completion.
SEC. 6. Said company shall commence the construction of said railway within one and a half years after the approval of this act, and shall complete the same within five years from the date of approval; Provided, That nothing in this act shall be so construed as to authorize or permit the purchase, sale or transfer of any land grants made to any other corporation under the laws of this State, which have not been earned in accordance with the laws and provisions of their charters.
Approved June 2, 1887.
CHAPTER 3801-[No. 121.]
AN ACT to Incorporate the Eufaula and St. Andrews Bay Air-line
Be it enacted by the Legislature of the State of Florida :
SECTION 1. That J. R. Shomaker, W. R. Gainer, A. R. Goodwin, W. J. Daniels, J. B. Dickson, of Florida; S. H. Dent, Corporators. John W. Tulis, W. N. Reeves, of Alabama; George M. West, of Michigan; S. H. Leathe, of St. Louis, Missouri, and such other persons as may be associated with them by becoming stockholders in said company, their successors and assigns, are hereby constituted a body corporate under the name of the Eufaula and St. Andrews Bay Air-line Railroad, for the purpose Powers. of constructing and operating a line of railroad from some point on St. Andrews Bay, in Washington county, Florida, to the Alabama State line, in the direction of Eufaula, Alabama. And by and under that name shall have, hold and enjoy the franchises, rights and privileges hereinafter provided, and shall be capable in law to purchase, hold and enjoy such real and personal property as may be necessary and proper for the use and purposes of said company, and to grant, sell, mortgage and dispose of the same; to sue and be sued; to have a corporate seal; to make such by-laws as may be necessary for the government of said corporation.
SEC. 2. That said railroad shall commence at some convenient point on St. Andrews Bay, which may be determined by Route. the incorporators of said company, and extend northward to
the Alabama line, in the direction of Eufaula, Alabama.
SEC. 3. That the capital stock of said company shall be five hundred thousand dollars, and divided into shares of one hun- Capital Stock. dred dollars each.
SEC. 4. That when the sum of five thousand dollars shall have been subscribed to the capital stock of said company, the Organization. corporators, or a majority of them, shall, by publication in some newspaper published in Marianna or in Chipley, Florida, give thirty days' notice of a meeting of the subscribers to the capital stock of the company, at such place as may be designated in said notice, for the purpose of electing from their own number a board of five directors to manage and control the business of said company for one year and until their successors are elected and installed, and said Board of Directors, as well as other boards that may be thereafter elected, shall select from their own number a President, and shall have power to make and adopt by-laws for the government and control of the board
and the company, and to appoint and employ such officers, agents and servants as they may deem proper.
SEC. 5. That in the election herein before provided, each subscriber to the capital stock of said company shall be entitled to one vote for each share of stock held by him or her, and may vote by proxy.
SEC. 6. That when said corporators have complied with the requirements set forth, and an election for a Board of Directors When organiza- shall have been held as provided for in this act, the books of tion complete. subscription to the capital stock of the company, together with all books and papers appertaining to the business of the said company, shall be turned over to said Board of Directors, and the powers of corporators, except as stockholders and subscribers, shall cease; and that when the subscribers to the capital stock of said company shall have convened and elected a Board of Directors under the provisions of this act, they and their associates and successors shall be deemed, held and considered, as a body corporate and politic, under the name and style of "The Eufaula and St. Andrews Bay Air-line Railroad Company," with perpetual succession, and the rights, powers, privileges and liabilities usual and necessary to such a corpora
Proceedings ad quod dam
SEC. 7. That said company shall have power to survey, locate, construct, inake, build, maintain, equip, use and operate a railroad and telegraph line from St. Andrews Bay, Florida, to Eufaula, Alabama, with branches to St. Josephs or Apalachicola, or both, to accept, purchase, have and hold, lease and convey any property, not personal and mixed, and to erect such buildings, depots and shops, operate such machinery and do such other things as it may deem proper for its advantage and benefit. The said company shall have power to receive land or other property as part payment of the subscription to the capital stock at such valuation as may be agreed upon under the rules, regulations and by-laws of said company.
SEC. 8. That in all cases where a question of right of way or terminal facilities arises, and the company cannot agree with the owner, other corporation or representative of the land on which it is proposed to enter, the damages shall be assessed in accordance with the general law for the condemnation of lands owned by private individuals or corporations for the use of railroads and canals now in force in this State.
SEC. 9. That to aid in the construction of said railroad the State of Florida grants, subject to the provisions of chapter 3475, Laws of Florida, entitled an act for the relief of Jacksonville and the counties of Baker, Bradford, Columbia, Suwannee, Madison, Jefferson, Duval and Leon, to the Eufaula and St. Andrews Bay Air-line Railroad Company, all the swamp and
overflowed lands that lie in the counties of Jackson, Washington and Calhoun, which may hereafter be patented to the State of Florida under the provisions of the act of Congress approved September 28th, 1850; and the State of Florida, to further aid in the construction of said railroad, grants to said company all the land now owned by the State and known as "Internal Improvement Land proper," which was granted to the State of Florida by act of Congress of March 3d, 1845, which lies in said counties of Jackson, Calhoun and Washington.
SEC. 10. That none of the lands granted by the 9th section
of this act shall be reserved from sale until the railroad has When title to been graded and cross-tied and ready for the iron, and deeds land to vest. for said lands shall not be made to said company for any lands granted by said act until the railroad is completed from the
Alabama line to St. Andrews Bay and in operation.
SEC. 11. That in the construction of said railroad the com
pany shall be governed by the rules and regulations prescribed Construction of by the Board of Trustees of the Internal Improvement Fund railroad. for the building of railroads in this State, with such modifica
tions as may be agreed upon by the company and the Trustees
of the Internal Improvement Fund.
SEC. 12. That no rights shall vest under this act unless the construction of said railroad shall be commenced within six Commencemonths and be continued and carried on with reasonable pro- ment and comgress, and no benefit shall be derived on account of any part of the road constructed after three years from the passage of this act. The map of the route of said railroad shall be filed with the Secretary of the Board of Trustees of the Internal Improve ment Fund within three months after the approval of this act. SEC. 13. All rights, reliefs and interests granted and estab lished by chapter 3474, Laws of Florida, entitled "An act for Rights rethe relief of Jacksonville and the counties of Baker, Bradford, served. Columbia, Suwannee, Madison, Jefferson, Duval and Leon" are specially reserved, and the grants in this act are to be accepted subject to the provisions of said chapter 3474.
Approved June 3, 1887.
CHAPTER 3802-[No. 122.]
AN ACT to Incorporate a Company to Construct a Railroad from St. Lucie to Wahneta or Lakeland, and to Operate a Line of Steamers on the Indian River.
Be it enacted by the Legislature of the State of Florida:
SECTION 1. That Isaac C. Lewis, James D. Dewell, J. C. Corporators. Phillips, Julius Tyler, Isaac E. Brown, Dwight W. Tuttle,
Frank M. Tyler, Herrick P. Frost, Frank S. Andrew, Thos. J. DeSteuben, Henry J. Lewis, S. Harrison Wagner and Horace H. Strong be, and hereby are, incorporated a company by the name and style of the Atlantic and Gulf Railroad and Steamboat Company, and by that name all who shall become subscribers for stock and members of said company, their successors and assigns, shall be capable in law to purchase, receive, retain and enjoy to them, their successors and assigns, lands, tenements, goods and chattels of every description, and the same to grant, bargain, sell, mortgage and dispose of, and to sue and be sued, to plead and be impleaded, to make a common seal, and at pleasure to alter the same; to ordain and establish and put in execution such by-laws and regulations as may be necessary and expedient for the government of said company, not being contrary to the Coustitution and laws of the State of Florida and of the United States.
SEC. 2. Be it further enacted, That the said railroad shall commence at St. Lucie, in Brevard county, and shall run to Wahneta or Lakeland, in Polk county, in this State, by the most eligible route, to be determined by some competent engineer, with the approval of a majority of the directors.
SEC. 3. That the capital stock of said company shall be two million dollars, divided into shares of one hundred dollars each, but which may be increased from time to time, when found necessary by a proper estimate made by a competent engineer and approved by a majority of the directors of said company. Books of subscription for the said capital stock shall be opened and agents be employed to solicit subscriptions by said corporators to the capital stock of said company.
SEC. 4. Be it further enacted, That after said agents have returned the books of subscription aforesaid, and all the moneys received by them for stock to the aforesaid corporators, who shall forthwith give notice in a newspaper of the time and place where a meeting of stockholders is to be held, at which meeting nine directors shall be elected, who shall be chosen from the stockholders of said company and elected by the vote of said company, every stockholder being entitled to one vote for each share of stock that he or she may have subscribed for, and the said stockholders may vote by proxy; a majority of votes shall constitute a choice, and the directors so elected shall continue in office one year, and until new directors shall be elected. The directors so elected shall from their own body choose a President, and each and every year, at such time and place as the directors may from time to time determine, there shall be an election by the stockholders of nine directors, as herein before provided, and an election of President for the direction and government of said company, and the said di