« AnteriorContinuar »
rectors shall have the power to fill all vacancies that may occur in their body during the period of said election; Provided, That if from any cause whatever there should at any time be no election of directors, the company shall not for that cause be dissolved, but the directors and other officers then in office shall continue in office, with all the powers herein mentioned, until the election of new directors can and does take place.
turned over to
SEC. 5. Be it further enacted, That upon the organization of the company by the election of directors and a President, the Moneys to be corporators shall pay over all moneys in their hands belonging company. to the company.
SEC. 6. Be it further enacted, That if any stockholder shall fail to pay the installments required by the provisions of this Stockholders. act for the space of sixty days after the day appointed for such payment of such installment, the share or shares of such stockholder upon which said installment shall fail to be paid shall be forfeited to the President and directors of said company, to be disposed of for the use and benefit of said company, and any purchaser of each stock shall become subject to the same rules and regulations as the original stockholder.
may be paid in
SEC. 7. Be it further enacted, That the payment of subscriptions to the stock in said railroad and steamboat company may Subscriptions be made in material, labor, provisions, and all and everything labor, &c. necessary for the construction of said road or the maintenance of said steamboat line, which a majority of said Board of Directors at their discretion may deem expedient to accept.
SEC. 8. That as soon as practicable after the organization of said company a competent engineer, under the direction of the President and directors, shall proceed to locate the route of route. said road from St. Lucie, in Brevard county, to either Wahneta or Lakeland, in the county of Polk, and shall make the proper estimates and the necessary charts and diagrams, which shall be filed in the office of said company.
SEC. 9. Be it further enacted, That if after the commencemeut of the road or any time it should appear that a sufficient amount to insure the completion of said road has not been subscribed, the President and directors shall cause the books of subscription to be opened at such time and places as to them may seem expedient, and for such a length of time as may be deemed necessary; and they moreover shall have the power to employ an agent or agents to procure subscriptions of stock in said company for the purpose of ensuring the completion of said work.
Books for sub.
stock to be opened when
SEC. 10. Be it further enacted, That the said company, by its President and directors, shall have the power to purchase Powers of with the funds of the company and to place on said railroad President and all machines and every other thing or things, and on said In
Property of company.
Stockholders may sell their interests as.
Right to de
mand and re
dian river all steamboats or other crafts whatsoever which they may deem proper and necessary for the purposes of transportation. All such machines, steamboats or crafts, and things, and all works constructed under the authority of this act, and all the profits that shall accrue from the same, shall vest in the stockholders of said company forever, in proportion to their shares, and they are hereby authorized, at those points on the line of their railroad and steamboat line where it may appear to them necessary for the accomplishment and business of the road to establish depots and warehouses or any other necessary and convenient houses to be used by them for all purposes of said road, or to be deposited by them when found necessary, and charge and receive for the storage of produce, merchandise and other articles at such warehouse or other buildings as they may find it necessary to construct, rates not exceeding ordinary warehouse duties.
SEC. 11. Be it further enacted, That all property as assessed and paid for by the President and directors of said company or its agents, agreeable to the provisions of this act, and all donations made to and for the same, shall forever afterwards belong to and become the property of said company, its successors and assigns, in fee simple.
SEC. 12. Be it further enacted, That any stockholder of said company may and shall have the right to sell, dispose of and transfer his, her or their interest in the same, or any part thereof, to any person or persons or corporations, which said transfer shall not be binding unless the same be entered on the books of said company; but the stock of said company and all the property belonging thereto, or which from time to time may be required of said company, shall be held jointly, and not separately.
SEC. 13. Be it further enacted, That the President and directors of said company shall have the right to demand and ceive fares, &c. receive such prices and sums for the transportation, by their own means on said railroad or steamboats or other crafts, for passengers, produce, goods and other articles whatsoever as may from time to time be authorized by the by-laws of said company, and not in conflict with the Constitution and laws of Florida; and that the said company shall continue to receive such prices and sums for the transportation of passengers, produce, goods and other articles whatsoever as may be prescribed by the by-laws of said company, so long as the railroad and steamboat line shall be kept in operation and in good repair and condition; and the said company shall be bound and Responsibility held responsible for any damage said passengers, goods, produce and other articles may sustain in transporting the same on said railroad and steamboat line, if it shall appear that the
same was caused by reason of any negligence or carelessness
SEC. 14. Be it further enacted, That the President and directors be required to make a full report to the stockholders of Directors to said company at their annual meeting for the election of directors, and the directors shall have power to call a meeting of the stockholders whenever the affairs of the company, in their opinion, may render it expedient or necessary to call such meeting.
SEC. 15. Be it further enacted, That the said railroad and steamboat line shall be commenced from St. Lucie within two commenceyears from the passage of this act, and be completed to its ment and termination within three years; and no benefit shall accrue to said company from the building of any portion of said railroad after the expiration of said three years.
SEC. 16. All laws and parts of laws in conflict with the pro- Repeal. visions of this act are hereby repealed.
Approved June 4, 1887.
CHAPTER 3803-[No. 123.]
AN ACT to Incorporate the St. Johns River, Lake Weir and Gulf Rail road Company.
Be it enacted by the Legislature of the State of Florida:
SECTION 1. That W. E. McKay, J. H. Curry, O. J. Bogue, A. C. Dittmar, F. S. Whiting, J. C. Stapp, R. W. Roper, J. A. Corporators. Couper and J. W. Hogan, and such other persons as they may associate with them, be and they are hereby made and constituted a body politic and corporate under the name of the St. Johns River, Lake Weir and Gulf Railroad Company, and by and under that name may purchase, receive, dispose of and Powers. convey, may sue and be sued, plead and be impleaded, contract
and be contracted with, make a common seal and alter and amend the same at pleasure, and may make and put in execution such by-laws, rules and regulations as may be deemed necessary and expedient for the government of said corporation.
SEC. 2. That the capital stock of said company shall be one hundred thousand dollars, divided into shares of one hundred dollars each, but the said capital stock may be increased from time to time up to five hundred thousand dollars, under such rules and regulations as may be prescribed by the President and Directors of said company; Provided, The increased stock at any time shall be approved by a majority of the votes of the whole number of shares in said company at a stockholders' meeting.
SEC. 3. That the said company shall have the right and privPowers of cor- ilege to construct and complete a railroad for the transporta tion of passengers, produce, goods, and all other articles of freight, from a point on the St. Johns river on or near Little Lake George, in Putnam county, Florida, and to run southward in nearly a straight line as practicable through the counties of Putnam, Marion, Sumter, Hernando and Hillsborough, Florida, to a point on the deep waters of the Anclote river, in Hillsborough county, Florida, the length of said road to be one hundred and twenty miles, more or less, with a branch of said road, beginning at a point on said line of railroad at or near Orange Spring is the county of Marion, and State of Florida, and running northerly to the city of Palatka, in Putnam county; thence in a northerly direction, as near as practicable, to the city of Jacksonville, Florida, the distance of said branch road being about one hundred miles. And the right of way is hereby granted for the distance of sixty feet on either side of the centre of the road bed of said railroad, together with the said branch road.
Right of way.
Lands to be withdrawn from sale.
SEC. 4. To aid in the construction of the said St. Johns river, Lake Weir and Gulf Railroad Company, together with the said branch road, alternate sections of land known as the swamp and overflowed lands, which were donated to the State by act of Congress on the 28th of September, 1850, for six miles on each side of the road, is hereby granted, and when the said company shall complete five miles of the said road then the titles to the above described lands lying adjacent to the portion of the road so completed shall vest in the said company, and so on until said road and its said branch road are completed.
SEC. 5. That upon the filing with the Board of Trustees of the Internal Improvement Fund by said company a plat of the actual survey of the route, which may be selected by the said company, the said Trustees shall withdraw, at the election of
said company, the odd or even sections within such limit along
SEO. 6. That no rights shall vest under this act, unless the
proval of this act.
SEC. 7. This act shall take effect from and after its approval To take effect by the Governor.
SEC. 8. All laws and parts of laws in conflict with the pro- Repeal.
CHAPTER 3804-[No. 124.]
AN ACT to Incorporate the Pensacola and Birmingham Railroad Com
Be it enacted by the Legislature of the State of Florida:
SECTION 1. That Henry Horsler, John Cosgrove, E. E. Saun-
SEC. 2. The said incorporators and their successors may by
SEC. 3. The capital stock of said railroad company shall be Capital stock.