CHAPTER
OF THE
Louisville & Hash ville Railroad Co.
WITH
AMENDMENTS TO 1869,
CHARTER
OF THE
LOUISVILLE & NASHVILLE R.R. CO.
WITH AMENDMENTS TO 1800.
TOGETHER WITH THE
GENERAL RAILROAD LAWS OE STATES OF KENTUCKY
AND TENNESSEE.
AND THE
CHARTER OF THE MEMPHIS & OHIO R. R. CO.
LOUT S VILLE, K Y. :
PRINTED BY JOHN P. MOUTON à COMPANY, 15»; & 158 WEST MAIN ST It E ET
1869.
INDEX TO CHARTER L. & N. R. R. CO.
IlItANCH BOADS.
Power to build, same as given to main road section 2, page 18
Routes for, to be surveyed same as main road ». 3, p. I'd
Right, of way for, procured as for main road s. 3, p. I'd
Counties may subscribe to stock of the company for s. 0, p. 21; ss. 1, 2, p. 23
Construction of, paid for in bonds of the company g. 22, p. 30
May be mortgaged 3, p. 32
Proceeds of sale of mortgage bonds not to be used to build s. 1, pp. 33, 34
May be permitted to connect with main line s. 13, p. 39
Rights of, and of main stem 13, p. 39
May be extended 3, p. 41
Provision for completing Lebanon & Memphis 3, p. 44
freight on 6, p. 44
Cost of, and main stem may be equal to capital stock s. 1, p. 47
Provision for extending Lebanon branch s. 1, p. 47
Holders of stock in, and main line, to bo re-issued in L. & N. R. R. Co s. 2, p. 48
CAPITAL STOCK.
Original s. 2, p. 7
Equalization of 3, p. 7
May be increased $1,000,000 13, p. 12
May be increased to equal cost of road and branches s. 1, p. 32; s. 1, p. 47
The holder of, issued on tax receipts entitled Jo all rights of stockholders...8. 4, p. 42
Fractional shares of s. 1, p. 47
No difference between, in mainline and branches s. 1, p. 48
Holders of, in main line and branches to be re-issued in L. & N. R. R. Co...s. 2, p. 48
Liable to execution in Tennessee s. 14, p. 08
Purchaser of, to get certificate of, from company s. 10, p. 08
CITY OF LOUISVILLE.
May subscribe for stock s. 22, p. 17
Mayor or other appointee to cast vote of s. 2, p. 32
Profits on stock of, subject to control of board with consent of general
council 3, p. 35
May retire bonds by the issue of stock s. 4, p. 35
IV
INDEX.
May subscribe for slock upon conditions s. 6, p. 37
May make additional subscription and pay in bonds 7, pp. 44, 45
May sell stock to pay its bonds r. 2, p. 49
COMMISSION KKS.
Appointment of s. 1, p. 5
Powers of s. 6, p. 9
CONNECTING ItOAIJS.
State may authorize to cross or connect with L. & N. R. R s. 18, p. 16
Contracts to unite with, authorized s. 4, p. 32
COUNTY.
May subscribe for stock s. '22, p. 17
May subscribe stock for Foad and branches s. 0, p. 21
May subscribe absolute or conditional s. 2, p. 23; s. 19, p. 29; s. 6, p. 37
May issue bonds and levy taxes to pay interest and principal ss. 4, 5, 7, pp. 24, 26
Profits on stock of, subject to control of board with consent of county court..,s. 3, p. 35
May retire bonds by transfer of county stock s. 4, p. 35
May invest surplus levies in purchase of bonds s. 5, p. 44
May sell stock to redeem its bonds s. 2, p. 49
IJIRECTOKS.
Election of s. 6, 7, p. 9
May elect any stockholder president, fix his salary, and fill vacancy..ss. 6, 7, pp. 9, 10
Powers of s. 7, pp. 9, 10; ss. 12, 14, p. 12
May call meeting of stockholders s. 8, p. 10
To make annual reports s. 9, p. 11
Oath of s. 10, p. 11; s. 7, p. 37
Certificate of oath to be recorded on minutes s. 7, p. 37
Penalty for violation of oath s. 8, p. 38
Of Tennessee s. 14, p. 40
May elect vice-president s. 5, p. 63
DIVIDENDS.
To be declared s. 19, p. 16
Set apart to pay bonds and interest s. 12, p. 28
Not sufficient to redeem bonds, tax to bS levied s. 13, p. 28
FREIGHTS.
Power to charge for s. 18, p. 15
Discrimination in favor of through freight and travel s. 2. p. 41; s. 1, p. 46
May charge same as Lex. & F. and Lou. & F. R. R. Co s. 6, p. 44
May agree with other companies for through s. 2, p. 47
Not to exceed legal rates s. 3, p. 47
Passenger fare for three miles and under s. 2, p. 52
Produce and merchandise, under five miles s. 2, p. 52
On Lex. & F. and Lou. & F. R. R s. 2, p. 54
Incorporation s. 2, p. 7
INDEX. V
Injury to s. 20, p. 17
Internai, improvement law ok Tennessee pp. 09, 81
I.AND.
Company may hold 10,000 acres, etc s. 2, p. 7
For turnouts and depots s. 4, p. 20
For stone quarries s. 1, pp. 48, 49
LIMITATION.
Right to plead statute of, same as Lex. & F. and Lou. & F. R. R s. fi, p 44
Suit for killing stock or injuring property barred in six months... „....s. 7, p. 55
MORTGAGE.
May execute s. 1, p. 33; ss. 1, 2, p. 43; s. 3, p. 50; s. 3, p. 04
Foreclosure of s. 2, p. 34; s. 4, p. 51; s. 5, p. 66
OFFICERS.
Appointment of s. 12, p. 12
Embezzlement by .....s. 5, p. 42
POWERS OF COMPANY.
May extend road and build branches ss. 2, 3, pp. 18, 19
May pay for construction of road in bonds s. 8, p. 21 ; s. 22, p. 30
May make line to Mississippi river s. 1, p. 22
May redeem bonds with stock at par or under s. 2, p. 32
May issue bonds and make second mortgage s. 3, p. 32; ss. 2, 3, pp. 50, 51
May unite with other roads s. 4, p. 32
May decimate its stock and issue fractional certificates s. 5, p. 33
May issue bonds and execute mortgage...s. 1, p. 33; ss. 1, 2, p. 43; s. 3, p. 50; s. 2, p. 64
May guarantee payment of county bonds s. 4, p. 35
May build bridge over Cumberland river at Nashville s. 9, p. 38
May build road in common with E. & Ky. R. R. ten miles s. 12, p. 39
May agree with county courts to redeem county stock s. 15, p. 40
May make any contract with Tenn. company to run road from Memphis
to Louisville s. 2, p. 41
May extend any branch or buy other roads s. 3, p. 41
May agree with other companies for through freights s. 2, p. 47
May purchase and sell fractional shares s. 1, p. 47
May issue preferred stock to liquidate mortgage and other debts s. 1, p. 47
May increase rate of charges twenty-five per cent s. 1, p. 49
May consolidate with companies of other states s. 1, pp. 49, 50
May charge for storage, receiving and forwarding s. 4, p. 55; s. 29, p. 60
Required to extend road into Nashville s. 2, p. 61
May acquire lands in Nashville for depots, etc s. 9, p. 67
REPEAL
Of act of 1855 of Tennessee, and 1656 of Kentucky, for separation of
credit, rights, and profits of main stem and branches s. 1, p. 48
VI
INDEX.
RIGHT OF WAY.
Crossing highways and passing through lands ss. 15, 16, 17, pp. 13, 14, 15
For road and branches, turnouts and depots s- 4, pp- If, ^0
Secured in Tennessee s- '> P-
How to acquire, in Tennessee ss. 23, 24, 25, pp. 57, 58, 59
SINKING FUND.
For counties ss. 8, 11, pp 26, 27
For the redemption of mortgage bonds -...». 3, pp. 34, 35; s. 5, p. 51 ; s ', P- 65
SINKING FUND COMMISSIONERS.
Power and duty of .'...ss. 8, 11, pp. 26, 27
To cast vote of county s. 11, p. 27
To keep record and make report s- 1 6 P-
May authorize one member to cast vote of county 8. 2, p 32
STOCKHOLDERS.
Allowed one vote for each share of stock and may vote by pro.xy s. 6, p. 9
May call meeting of stockholders s. 8, p. 10
May require reports from president and directors s. 9, p 11
May appoint treasurer 8. 10, p. 11
Interest allowed on stock until first dividend a. 5, p. 21
In Tennessee to be represented by Tennessee directors s. 4, p. 57
Taxation s. 18, pp. 15, 16
TAX PAYERS.
Issuance of county stock to s. 7, p. 21
Eutitled to stock for taxes levied to redeem bonds ss. 14, 16, pp. 28, 29
Entitled to stock after first dividend s. 15, p. 28
Of Davidson county entitled to stock for tax receipts s. 5, p 36
Of Sumner county entitled to stock for tax receipts s. 16, p. 41
Stock to be issued to, in Louisville s. 4, p. 42
Stock to be issued to, in counties s. 4, p. 42
TAX RECEIPTS.
Holders of, entitled to stock ss 14, 15, 16, pp. 28, 29
Negotiable by endorsement ss. 14, 15, 16, pp. 28, 29
Holders of, in Davidson county, Tennessee s. 5, p. 36
Holders of, in Sumner county, Tennessee s. 16, p. 41
Holders of, in city of Louisville and counties, entitled to stock s. 4, p. 42
Holders of stock issued on, entitled to all rights of stockholders s. 4, p. 42
INDEX.
VII
INDEX TO GENERAL ACTS OF KENTUCKY.
Railroad companies may subscribe for stock in Lou. Bridge Co s. G, p. 82
Tax receipts may be duplicated s. 1, p. 82
Tax receipts may be converted into stock or sold by administrators s. 3, p. 82
Company may adjust claims of counties and tax payers s. 1, p. 83
Tax receipts to be presented to railroad company or sinking fund com¬
missioners in three years s. 2, p. 83
Tax payers in Marion county to present receipts s. 1, p. 84
Duty of common carriers on receipt of property for transportation,'
when may sell to pay charges, how to dispose of proceeds (Act of Feb¬
ruary 15, 1867,) pp. 84, 85, 86
Common carriers to keep tariff of local and way freights posted s. 1, p. 86
Railroad company to keep ticket office open s. 1, p. 88
Obstructing and tearing up railroads, and penalty s. 4, p. 88
Redress for death resulting from negligence of railroad company (Act
of March 10th, 1854) pp. 88, 89
Damages for killing or injuring stock '....s. 2, p. 89
Contracts may be made hy railroads with each other for certain pur¬
poses ss. 1, 2, pp 89, 90
How railroad companies are assessed and taxed (Act of 20th February,
1864) pp. 90, 91
Railroad companies to carry coal at certain rates s. 1, p. 91
Penalty on railroad companies for charging illegal rates s. 1, p. 91
Where railroad companies may be sued p. 92
INDEX TO GENERAL ACTS OF TENNESSEE.
Railroad companies of other states sued, by service of process on depot
agents s. 7, p. 93
How stock of counties in railroad companies may be sold s. 1165, p. 93
Precautions necessary to prevent accidents on railroads ss. 1166-1171, pp. 93, 94
Lease of railroads in Tennessee s. 1424, 1425, p. 95
Obstructing railroad track and penalty ss. 4638-4648, pp. 95, 96
Penalty on railroads for illegal charges for freight or passengers s. 1, pp. 96, 97
Certain railroad companies not to discriminate in freight or fare and
penalty s. 10, p. 98
Railroad company to keep ticket office open, water in cars, and con¬
ductor to announce stations, etc., (Act of January 23, 1866) p. 99
Railroad companies not to lease their roads wiihout consent of stockholders p. 100
CHARTER
OF THE
LOUISVILLE & NASHVILLE R. R. CO.
KENTUCKY.
AN ACT to Charter the Louisville and Nashville Railroad Company.
Section 1. Be it enacted by the General Assembly of the
Commonwealth of Kentucky, That Colonel Thomas An- erCtT'op°nn
derson, James S. Speed, James Guthrie, Levin L. Shreve, oive 8ubscrip-
and William F. Bullock, of the city of Louisville ;tlon8'
Robert N. Miller, Joshua F. Speed, David Meriwether,
Thomas S. Camp, and Edward D. Hobbs, of the county of
Jefferson ; J. G. Guthrie, C. D. Shean, Daniel K. Haycraft,.
S. B. Thomas, John Cofer, John L. Helm, and George L.
Miles, of the county of Hardin ; George T. Wood, David
Highbaugh, Thomas Lafferty, William Lewis, J, B. Cobb,
0. G. Waggener, W. II. Powell, Aden Combs, and George
Garland House, of the county of Hart ; Israel A. Cook,
Wm. Ford, Ambrose Kirtley, W. C. Lucas, and A. M.
Barret, of the county of Edmonson ; Sam'l Murrell, Henry
Grider, John B. Helm, Warner L. Underwood, Thomas
Quigley, and Benjamin C. Smith, of the county of War¬
ren ; John Hoy, Noah Hampton, Stanford Duncan, W. H.
McGoodwin, L. Finn, and William II. Wooten, of the
county of Simpson ; R. F. Samuels, R. H. Field, H. F.
Kalfus, H. C. Thomas, N. C. Summers, W. R. Thompson,
N. P. Sanders, and W. B. Hamilton, of the county of
Bullitt ; C. Nourse, Joseph Brown, D. S. Howell, C. P.
Mattingly, J. M. Doom, E. B. Smith, G. W. Ilite, James
G
CHARTER OF THE
M. Brown, S. Johnson, John H. Talhott, T. W. Riley,
and T. P. Linthicum, of the county of Nelson ; S. W. D.
Stone, J. II. Rodman, John Duncan, W. P. Read, AV L.
Morris, AV. Howell, and J. P. Hamilton, of the county of
Larue; A. AVatkins, J. G. Hardy, P. J. Kirtley, G. AV.
Trabue, F. Gorin, A. Trigg, R. Murrell, John T. Rogers,
James Page, AV. E. Munford, J. P. Bate's, and AV. J.
AVood, jr., of the county of Barren; John IT. Page, AV.
F. Evans, A. A. Harvey, Samuel Carpenter, W. Thomas,
R. J. Foster, James C. Mulligan, and James Stark, of the
county of Allen; Josiah Brummall, John Barret, AV. B.
Allen, AVoodson Williams, and Peter Anderson, of the
county of Green ; A. Hoskins, R. Calvin, Alfred Hazle-
wood, A. F. Gowdy, Ignatius Abell, and W. N. Marshall,
of the county of Taylor ; be and they are hereby appointed
commissioners, under the direction of whom, or any three
of them, in each of said counties and city aforesaid, subscrip¬
tions may he received to the capital stock of the Louisville
and Nashville Railroad Company, hereby incorporated ;
and they may cause hooks to be opened at such times and
places as they may direct, for the purpose of receiving
subscriptions to the capital stock of said company, after
having given such notice of the times and places of open¬
ing the same as they may deem proper ; and after the
first opening of said books they may continue them open
for such time, and may adjourn to such places, as they
may deem expedient ; and if such a subscription to the
capital stock of said company as is necessary to its incor¬
poration shall not have been obtained, said commissioners,
or a majority of them, may cause the said hooks to be
opened and kept open, from time to time, and at such
places as may seem expedient, for the space of two years
thereafter, or until the sum necessary for the incorporation
shall he subscribed : Provided, that any subscription,
tendered at any time or place other than that advertised
by said commissioners, if accepted by them, shall be as
valid against the party subscribing as if received at the
time or place advertised ; and if any of said commissioners
shall die, resign, or refuse to act, during the continuance
of the duties devolved 011 them by this act, another may
louisville and nashville railroad co.
7
be appointed in his stead by the remaining commissioners,
or a majority of them, of the county for which the said
commissioner, so not acting, was appointed a commissioner.
Sec. 2. That the capital stock of said Louisville and Capita, stock
Nashville Railroad Company shall be three millions of Î3,0UU'<"J"-
dollars, in shares of one hundred dollars each, which
may be subscribed for by anjT individual or corporation;
and as soon as three thousand shares of said capital
stock shall be subscribed, the subscribers of said stock,
their successors and assigns, shall be and they are hereby
declared to be incorporated into a company, by the name
of the Louisville and Nashville Railroad Company, and
by that name shall be capable of purchasing, holding,
selling, leasing, and conveying real estate not exceed¬
ing ten thousand acres, and personal and mixed estate, wi^n incor-
so far as the same shall be necessary for the purposes hold ten thoV-
r- • i pi li n i sand acres of
ot their incorporation, and no further; and shall have neces-
. , s a r y persoDal
perpetual succession, and by said corporate name shall **•
A x f %j 1 tate, and have
sue and be sued, and may have and use a common PerP.etual su<-
7 J cession.
seal, which they shall have power to alter or renew at
pleasure ; and shall have, enjoy, and exercise all the
powers, rights, and privileges which other corporate
bodies may lawfully do.
Sec. 3. That if more than thirty thousand shares shall
be subscribed to the capital stock of said company, the Stock eqinil-
• -\ .. «'iPii iiit izcd if too much
said commissioners, or a majority oi them, shall reduce subscribed,
by striking off in succession from the largest number of
shares subscribed by single individuals or corporations,
until the subscriptions shall be reduced to thirty thousand
shares, so as to equalize the stockholders as far as may be.
Sec. 4. That at every subscription of stock there shall
be paid, at the time of subscribing, to the said commis¬
sioners, or their agents appointed to receive such sub¬
scriptions, either in money or a note negotiable and payable
at some bank in the state, as said commissioners may
elect, at sixty days date or longer, at the option of the
commissioners or their agents, the sum of one dollar on
every share subscribed, and the residue thereof shall be
paid in such installments and at such times as may be
required by the board of directors of said company :
8
charter of the
Provided, that no payment shall be demanded until at
i5ub6crîption r
provided for. least thirty days' public notice of such demand shall have
been given by said board of directors, by a publication
in one or more of the newspapers published in Louis¬
ville, Bardstown, Glasgow, Elizabetbtown and Bowling
Green ; nor shall more than twenty-five per cent, of
each share of stock be called for in any one year; but if
the exigencies of the company should require the payments
of the stock to be made more rapidly than is provided for
herein, or should the board of directors, or a majority-of
the whole number elected, consider it expedient, it shall
he lawful for them to borrow, on the credit of said com¬
pany, a sum of money not exceeding five hundred thousand
dollars; and if any subscriber shall fail or neglect to pay
any installment or part of said subscription demanded
according to the provisions of this section, the same may
be recovered by action, in the name of said corporation,
against such defaulting subscriber, before any tribunal
having jurisdiction of such cases; and in all such actions
publication as directed in this section shall be the only
demand necessary to be proved ; or, in case such failure
or neglect to pay any installment or part of said subscrip¬
tion, demanded according to the provisions of this section,
shall continue for the space of sixty days next after the
time the same shall be due and payable, the board of
directors may, in their discretion, order that the same
shall he forfeited to the company, and they may also sell
it for the benefit of the company if they think proper ;
but the said board of directors, by a majority of the whole
hoard, may remit any such forfeiture on such terms as
they may think proper : and provided further, that it
shall be lawful to l'eceive subscriptions to the capital stock
of this company, payable in contracts, well secured, to
build such parts of the road, or to perform such work
in the construction thereof, as may he accepted by the
company.
Sec. 5. That if the subscription herein made necessary
stock not ob. the incorporation of said company shall not be ob-
scriptfons vo^idi tained within ten years after the first opening of the
hooks by the commissioners under this act, then this
louisville and nashville railroad co.
9
act, and all the subscriptions under it, shall be null and
void ; and said commissioners shall, after discharging
the expenses of opening the books, return the residue of
the money paid in upon the subscriptions to the several
subscribers, in proportion to the sums respectively paid
by each.
Sec. 6. That at the expiration of the period for which
the books are first opened, if two thousand shares of
the capital stock shall have been subscribed, or, if not,
as soon thereafter as the same shall be 'subscribed, if
within ten years after the first opening of said books,
said commissioners, or a majority of them, shall call a commissioners
general meeting of the subscribers, at such time and 1?,^ ™t?on''or
place as they may appoint, and shall give at least dir<"ctor8-
twenty days' public notice thereof in some one or more
of the newspapers published in Louisville, Bardstown,
Glasgow, Elizabethtown and Bowling Green ; and at such
meeting said commissioners shall lay the subscription
books before the subscribers then and there present, and
thereupon the said subscribers, or a majority of them,
then present, shall have the power to elect from among
the stockholders seven directors by ballot, to manage the
affairs of said company ; and these seven directors, or a
majority of them, shall have the power to elect a president
of said company, either from among the directors or any
other stockholder, and of allowing such compensation for
his services as they may think proper ; and in such elec¬
tion, and on all other occasions wherein a vote of the
stockholders of said company is to be taken, each stock¬
holder shall be allowed one vote for every share owned by
it, him, or her ; and every stockholder may, in writing,
depute any other person to vote and act as its, his, or her
proxy; and the commissioners aforesaid, or any three or
more of them, shall be the judges of said first election of
directors.
Sec. 7. That, to continue the succession of the presi¬
dent and directors of said company, seven directors shall proTi8[0n for
be chosen annually on the first Monday in June, every tden'tand dnecl
year, by the stockholders of said company, at such place powers!"1 tlieir
as the president and directors may designate : Provided,
10
charter of the
After first that after the first election the said president and direct-
president0 and ors may change the time and place of holding all sub-
chrangerthe?ime sequent elections, upon publishing such change not less
«Iquent"e\"c- than thirty days prior to the election in the papers
tions ; directors n -, e j
may elect a aforesaid ; and that the directors ot said company, or
fixais compen- a majority of them, shall have the power to appoint
au vacancy, 4c. judges of all elections, and to elect a president of said
company, either from among the directors or any other
stockholder, and to allow him such compensation for
his services as they may deem proper ; and if any
vacancy shall occur, by death, resignation, or refusal to
act of any president or director, before the year for which
he was elected has expired, a person to fill such vacancy
for the year shall be appointed by the president and
directors of said company, or a majority of them; and
that the president and directors of the company shall
hold and exercise their offices until a new election of
president and directors ; and that all elections which are
by this act or by the by-laws of said company to be made
at a particular time, if not made at such time, may be
made in thirty days thereafter, upon notice publicly given.
Sec. 8. That a general meeting of the stockholders of
iDgaofeds tockl said company may be called, at any time during the
idl'ntatuourec- interval between the annual meetings, by the president
by stockhold- and directors, or a majority of them, or by the stockhold¬
ers owning at least one fourth of the whole stock sub¬
scribed, upon giving thirty days' notice of the time and
place of holding the same, in one or more newspapers
published in Louisville, Bardstown, Glasgow, Elizabeth-
town, and Bowling Green; and when any such meetings
are called by the stockholders, such notice shall specify
the object of the call; and if, at any such called meetings,
a majority, in value, of the stockholders are not present,
in person or by proxy, the same shall be adjourned,
from day to day, without transacting any business, for any
time not exceeding live days; and if, within said five days,
stockholders having a majority, in value, of the stock sub¬
scribed, do not attend, such meeting shall be dissolved.
louisville and nashville railroad co.
11
Sec. 9. That at the regular annual meeting of the poVôfUapresn
stockholders of said company it shall be the duty of the oïs^Tda^clu'
president and directors in office, for the preceding year, ^aJ"ôernf 0af
to exhibit a clear and distinct account of the affairs of ma°yC require
the company; that at any called meeting of the stock- an"'1" geSêr'ai
holders, a majority, in value, of the holders of the stock "em'ôve "the
subscribed being present, may demand and require similar any "dirlcto0?
statements from the president and directors, whose duty vacancy,
it shall be to furnish them, when thus required; and that,,
all general meetings of the stockholders in said company,
a majority of them, in value, may remove from office the
president or any of the directors, and fill up the vacancies,
thus made, in the same manner that they could do at their
stated annual meetings.
Sec. 10. That the president and directors of said com- oathofprcs-
I r* l , i , liii (V ident and dircc-
pany, before he or they act as such, shall swear or affirm, 0r8, and power
as the case maybe, that they will well and truly discharge surer and re-
the duties of their respective offices, to the best of their qu'rt
skill and judgment, and the said president and directors,
or a majority of them, or a majority, in value, of the of0rtfthelaitorcky-
8tockholders in said company, at any of the stated or ^ldeo®*
called meetings of said stockholders, shall have power tr™fta/_
to elect or appoint a treasurer of said company, and to» ba0nndd. rt"
require, and take of him such bond, in such penalty, and
with such securities, as they may prescribe, payable to
said company, and conditioned to the faithful keeping
. and disbursing of all such moneys as may come to his
hands, and with such other conditions as may be pre¬
scribed; upon which said bond, recovery may be had, for
a breach of the conditions thereof, by suit, in the name
of said company, in any court having jurisdiction thereof.
Sec 11. That if any of the stock created by this act stock not
•i -ip l* taken to be dis-
shall remain unsubscribed, until alter the election o-t posed of.
the president and directors, as provided for in the sixth
section of this act, the said president and directors, or
a majority of them, shall have power to open books and
receive subscriptions to any of the capital stock which
may remain untaken or unsubscribed for, or to sell or
dispose of such untaken stock, for the benefit of the
company, not under its par value; and the subscribers or
12
charter of the
purchasers of said stock shall have all the rights of orig¬
inal subscribers, and subject to the same regulations.
Power of preB- Sec. 12. That the said president and directors, or a
recto'rfl""^ a p"- majority of them, may appoint all such officers, agents, or
et°c° an®CreguB; servants, as they may deem expedient for the business
8tÔck!raD8f" °f of the company, and they may remove any of them at
pleasure; that they or a majority of them may determine,
by contract, the pay of such officers, agents, and servants,
and regulate by by-laws the manner of adjusting all
accounts against the company; that they shall have power
to erect warehouses, work-shops, depots, and all other
buildings necessary for the transaction of the business
by a»""to pas0 ^'e company; that they shall have power to direct
and regulate in what manner, and by what evidence,
stock in said company maybe transferred; and to pass
all by-laws which they may deem necessary or proper
for exercising the powers hereby vested in said company,
and for carrying into effect this act: Provided, the same
shall not be contrary to the laws of the United States or
of tliis state.
stock maybe Sec. 1^. That if the capital stock of said company shall
exceeding si",- deemed insufficient for the purposes of this act, it
ooo.ooo. shall and may be lawful for the president and directors
of said company, or a, majority of them, to increase the
same, by the addition of as many shares as they may
deem necessary, not exceeding one million of dollars,
giving notice as herein before prescribed.
Power t o Sec. 14. That the president and directors of said com-
iaUnd] etc.d' e pany are hereby vested with all powers and rights neces¬
sary to the construction of a railroad from the city of
Louisville to the Tennessee line, in the direction of Nash¬
ville ; the route to be by them selected and determined,
not exceeding sixty-six feet wide, with as many sets
of tracks as they may deem necessary; and that they
may cause to be made contracts with others for mak¬
ing said railroad, or any parts of it; and that they, their
agents, engineers, etc., or those with whom they may
contract for surveying or making the same, or any part
thereof, may enter upon, use, and excavate any land which
may be wanted for the site of said road, or the erection of
louisville and nashville railroad co.
13
warehouses or other structures or works necessary to said
road and its use, or for any other purpose necessary or
useful in the construction or repair of said road, or its
works and appurtenances; and they may build bridges
and construct tunnels: Provided, the same do not obstruct
the navigation on navigable streams; may fix scales and
weights, lay rails, take and use any earth, timber, gravel,
stone, or other material, which may he useful or necessary
for the proper construction, completion, or repair of said
road.
Sec. 15. That the president and directors of said com- Eightofway
pany, or a majority of them, or their authorized agents,
may agree with the owner of any land, earth, timber,
or stone, or any other materials, or any improvements,
which may be wanted for the construction or repair of
any of said roads, or an-y of their works, for the purchase
or the use and occupation of the same, and if they can
not agree, and if the owner or owners, or any of them, be
a feme-covert, under age, non compos mentis, or out of the
county in which the property wanted may lie, where such
land and materials may be wanted, application may be
made to any justice of the peace of such county, who
shall, thereupon, issue his warrant, under his hand,
directed to the sheriff of such county, requiring him to
summon a jury of twenty inhabitants, not related, or in
anywise interested, to meet on the land, or near the prop¬
erty or materials to be valued, on a day named in said
warrant, not less than ten nor more than twenty days after
the issuing of the same; and if, at the time and place, any
of said jurors do not attend, said sheriff shall forthwith
summon as many jurors as may be necessary with the
jurors in attendance, and from them each party, or, if
not present by agent or otherwise, the sheriff then, for
the party absent, may strike off four jurors, and the
remaining twelve shall act as the jury of inquest of
damages; and, before they act as such, the said sheriff
shall administer to each of them an oath or affirmation,
that he will justly and impartially fix the damages which
the owner or owners shall sustain by the use and occu¬
pation of the said property, required by the company;
14
charter of the
and the said jury, in estimating such damages, shall take
into consideration the benefits resulting to the owner, from
conducting said road by, through, or near, the property
of said owners, but only in extinguishment of damages ;
and said jury shall reduce their verdict to writing, and
shall sign the same, and it shall be returned by the sheriff
to the clerk of his county, and by such clerk shall he filed
in his office, and shall be confirmed by the court of said
county, at its next session, if no sufficient cause to the
contrary be shown; and, when so confirmed, shall be
recorded by said clerk, at the expense of said company;
but, if set aside, the court may direct another inquisition
to be taken, in the same manner above prescribed; and
such inquisition shall describe the property taken, or
the bounds of the land condemned, and the duration
of interest in the same, valued for the company; and
such valuation, when tendered or paid to the owner or
owners of said property, or his, her, or their legal rep¬
resentatives, or to the clerk of the county in which said
inquest is held, for their use, when said owners, etc., do
not reside in said county, shall entitle said company to
the estate, and interest in the "same, thus valued, as fully
as if it had been conveyed to it by the owner or owners
of the same ; and the valuation of the same, if not received
when tendered, may at any time thereafter, be received
from the company, without costs, by the owner or owners,
his or their legal representatives or heirs.
. .. v Sec. 16. That whenever, in the construction of said road
cross ing. high-
way and pass- or rGads, it shall be necessary to intersect any other estab-
ing t hvr ougli 7 «/
lands. lished road or way, it shall be the duty of said president
and directors so to construct said road across such road
or way as not to impede the passage of persons or prop¬
erty along the same; or where it shall be necessary to
pass through the land of any person, it shall also be
their duty to provide for such person proper wagon ways
across said railroad, from one part of the land to the
other; and if said company shall fail to provide proper
wagon ways across said road, as provided in this sec¬
tion, it shall be lawful for any person to sue said com-
louisville and nashville railroad co.
15
pany, and be entitled to such damage as a jury may think
him or her entitled to, for such neglect.
Sec. 17. That whenever it shall he necessary for said Land and ma-
, i l « • l terial for con-
compauy to have, use, or occupy any land, materials, or struct ion of
qther property, in order to the construction or repair
of any part of said road or roads, or their works or
necessary buildings, the president and directors of said
company, or their agents, or those contracting with them
for working or repairing the same, may immediately take
and use the same, they having first caused the property
wanted to he viewed by a jury, (formed in the manner
herein before prescribed in those cases where the property
is to he changed or altered by admixture with other sub¬
stances, before such alteration is made), and that it shall
not be necessary, after such view, in order to the use and
occupation of the same, to wait the issue of the proceed¬
ings upon such view; and the inquest of the jury, after
the payment or tender of such valuation, shall be a bar
to all actions for taking and using such property, whether
begun before or after such confirmation, or the payment
of said valuation.
Sec. 18. That the president and directors shall have Machinery,
power to purchase, with the funds of said company, and et°"
place on any railroads constructed by them, under this
act, all machines, wagons, vehicles, or carriages of any
kind, which they may deem proper, for the purposes of
transportation on said road ; and that they shall have
power to charge for tolls, and the transportation of per- Tolla
sons, merchandise, and property of any kind whatever,
transported along said railway, any sum not exceeding
the following rates, to-wit: on all goods, merchandise,
or property, for every one hundred pounds transported
over twenty miles and under fifty miles, three and a half
mills for each mile; and for persons, and every species
of live stock, and every other description of freight
and property, they shall charge no greater rate than is
authorized to be charged on the railway from Lexington
to Frankfort; that it shall not be lawful for any other
company, or any other person or persons, to travel upon
or use any of the roads of said company, or to transport
16
CHARTER OF THE
persons or property thereon, without the license and
permission of the president and directors thereof; and
that the said road or roads, with all their works, improve¬
ments, or profits, and all the carriages, vehicles, and ma-
Rate of taxa-chinery for transportation used therein, and all other
tion on proper- J A
pan°yf the com* sPec^es °f property thereunto belonging, are hereby vested
in said company incorporated by this act and their suc¬
cessors forever; and shall never he taxed beyond the rate-
of tax imposed upon real estate, estimated upon the prime
cost of the proposed works; nor will the legislature of
this commonwealth, for the space of thirty years, author¬
ize any other railroad to he laid down on a parallel line
with the one located by this company, extending from
Louisville to the Tennessee line, approaching nearer than
ten miles : Provided, full power is hereby reserved to this
state to incorporate, hereafter, a company or companies
to build a railroad or railroads, and that any and all such
railroad or railroads, hereafter constructed, may connect
and join with the road hereby contemplated; and full
maythcroes0aor "ght and privilege is hereby reserved to the state, or
connect. individuals, or any company heretofore or hereafter incor¬
porated by law of this state, to cross this road, provided
any other railroad connecting with the road hereby pro¬
vided for shall lead from the main route and diverge
therefrom at an angle of twenty degrees or more: Pro¬
vided, that in forming such connection, or in crossing said
road, no injury be done to the works of the company
hereby incorporated; and that nothing in this act shall
be so construed as to deprive any subsequent legislature
of the power to authorize the " Kentucky and Mississippi
Railroad Company" to extend their said road from Hop-
kinsville to Louisville, or of the power at any time here¬
after of incorporating a company to construct a railroad
from Louisville to some point upon the Mississippi River
i-n this state.
Dividends to
Sec. 19. That the said president and directors shall,
declared. annually or semi-annually, declare and make such divi¬
dend as they may deem proper, of the net profits arising
from the resources of said company after deducting the
necessary current and probable contingent expenses; and
LOUISVILLE AND NASHVILLE RAILROAD CO.
17
that they shall divide the same among the stockholders
of said company, in proportion to their respective shares.
Sec. 20. That if anv person or persons shall willfully, Penalty for
.... injuring road.
by any means whatsoever, injure, impair, or destroy any
part of any railroads, or road, constructed for said com¬
pany, under this act, or any of their works, buildings,
carriages, vehicles, or machinery, such person or persons
shall, for every such offense, forfeit and pay to the said
company a sum not exceeding five hundred dollars,
recoverable in the name of said company, by an action
of debt in the circuit court of the county wherein such
offense shall be committed; and shall also be subject to
indictment by the grand jury of said county, in said
court, and upon conviction of such offense, be imprisoned
in the jail thereof, and in the penitentiary, not less than
six months nor more than four years, in the discretion
of a jury.
Sec. 21. That, so soon as the company shall have com- commence-
pleted five miles of their route, they may commence and aess.
prosecute their business upon the terms and upon the
stipulations herein provided, as though the whole work
was completed.
Sec. 22. That the corporation of the city of Louisville, Clty and
and the county courts of the counties of Jefferson, Bui- subscribe m?or
litt, Nelson, Larue, Barren, Allen, Green, Taylor, Hardin,8tock'
Hart, Edmonson, Warren, and Simpson, and of any
other counties through which this road may pass, a
majority of all the members of the board of councilmen
of said city, and of the county courts of said counties,
concurring therein, be and they are hereby authorized
to subscribe for and on behalf of said city and counties,
as many shares in the capital stock of said railroad as
to them may seem expedient, and to levy the sum so
subscribed on the taxable property of said city or coun¬
ties; and the better to ascertain the public sentiment of
said city and counties in reference to the propriety of said
subscriptions of stock herein authorized, said board of
councilmen and county courts are hereby authorized, if
by them deemed expedient, in such manner as they may
18
charter of the
direct and prescribe, to submit the same to a vote of the
qualified voters of said city and counties, respectively.
Approved March 5, 1850.
AN ACT to amend an act, entitled, An Act to Charter the Louisville and
Nashville Railroad Company, Approved March \5, 1850.
Sec. 1. Be it enacted by the General Assembly of the
Commonwealth of Kentucky, that the act recited in the
title shall be so amended as to authorize any three or more
of the persons named in the first section thereof to open
books of subscription to the stock of said company, at
such time and place as they may prescribe by an adver¬
tisement in one or more public newspapers printed in this
stock for ïioo,. state ; and whenever one hundred thousand dollars, or
more, shall have been subscribed, they may publish the
fact in like manner, and call a meeting of the stockholders,
at such time and place as said publication shall designate,
Election of di- for the election of directors for said company, as author-
rectors.
lzed by the charter.
Sec. 2. That said company shall have power and
authority to construct their road from the city7 of Louis¬
ville to any point or place in the direction of Nashville,
Tennessee, and to connect the same with any railroad
extending to Nashville, on such terms and conditions as
the two companies may, from time to time, agree on, for
the through transportation and travel of freight and
passengers ; and said company shall have the same power
Extend the and authority to construct a branch of said road to the
road and build
branches. Mississippi river, and any other branch said company may
desire, that the charter gives them to construct the main
line, and with the same rights and privileges, and with the
same duties and restrictions; and may, for the main line
and branches, acquire, as provided in the charter and by
this amendment, the right of way one hundred and fifty
feet wide, or more, if necessary ; and the quantity of acres
of land which they are authorized by the charter to acquire
and hold, shall be exclusive of the right of way of the
road and branches.
Sec. 3. That after said company shall be organized, by
the election of directors and choice of a president and
other officers, they may cause one or more routes for the
louisville and nashville railroad co.
19
main road, and any desired branch or branches, to be sur- survey of
veyed and estimated preparatory to location and the and branches.
letting the work. But before proceeding to let the work,
in whole or in part, the president and directors shall call Called meet.
a meeting of the stockholders, and lay before them the costin6'
of the road, as far as estimated, together with the amount
of subscription obtained, and the right of way obtained,
and the expenses incurred ; and a majority of the stock,
in value, shall have the right to order the expenses to be
paid, and the subscriptions canceled, and the company'to
be dissolved ; but they shall have no power to cancel the
subscriptions and dissolve the company if two-thirds of
the estimated costs, within this state, of the main line to
Nashville shall have been subscribed to the stock of the
company.
Sec. 4. That it shall be lawful for said company to
apply to any circuit or county court of any county through
which it may be proposed said road or any branch thereof
shall pass, and for said court to appoint a competent
engineer and two disinterested commissioners, any two of
whom may act, to examine the proposed route of said road
or branch and to take from the proprietors of the land
over which it is to pass a grant of the right of way, of ^ f
such width as may be desired, and which may include the tor load an d
^ i • • branches, and
right to take stone, earth, gravel, or timber for the con- ukm to take
° 7 . . stone, earth,
struction of said road; and they, jointly or severally, shall ^'fo^'con
have the power and authority to take and certify, under "ruction.
their hands and seals, the acknowledgment of such grants
in fee or right of way, and the separate acknowledgment.
of married women, that the clerks of the several county
courts have ; and on the presentation of the grant and
acknowledgment to the clerk of the county court where
the land lies, it shall be the duty of the clerk to record the
same as other deeds ; and they shall be effectual against
all persons according to their tenor : Provided, that when
the parties are infants, or absent, or refuse to make the infantsorab-
-L 7 ' sentees.
grant, they shall hear any proof that may be adduced, and,
upon their own view, proceed to value any land required
for the right of way, taking into consideration the advan¬
tages and disadvantages the proposed road will be to the
20
CHARTER OP THE
Lands re- adjoining lands of sucli proprietor or lands required for
quired for turn- . r ~
outs or depots, turnouts aud depot stations tor said road, and also ot
earth, stone, gravel, or timber, for the construction of said
road ; and report the value they shall have affixed, to¬
gether with the evidence adduced, to the court appointing
them, with a map or profile of the required ground ; and
said report may be filed with the clerk of such court, and
a summons issued to the proprietors to show cause against
the confirmation of said report ; but if the proprietor shall
he out of the commonwealth, the summons may be ex¬
ecuted upon a known agent, if there be one in the county ;
and if there he no known agent in the county, then the
court may order the appearance of the party at a named
day and appoint the clerk to give the proprietor notice by
letter ; and in case of there being infant proprietors, the
court shall appoint guardians ad litem for them, and cause
the guardian to appear and act for them ; and in case an
absent defendant does not appear, the court shall appoint
an attorney of the court to act for them. It shall he law¬
ful for the company, or any proprietor, or for both, to
traverse the report, and for the court to have the traverse
tried in open court by a competent jui-y, on which trial
the report and evidence, returned as aforesaid, shall be
heard, together with such other proof as either party may
produce. A new trial to the finding of the jury may be
granted, as in other cases. The report shall stand for
hearing, as to any proprietor, when the process has been
executed ten days, or after the appearance of a proprietor
011 the day fixed for his appearance ; and the court shall
have jurisdiction to confirm the report, if no traverse is
filed ; and in case a traverse is filed, to have the same tried
by jury, and to give judgment upon the report or finding
of the jury, and order the payment of the money, and the
execution of the grant in accordance with the report, and
to have the grant executed by a commissioner appointed by
the court, and order them to be recorded in the county
clerk's office of the county ; and either party may have an
appeal or writ of error to the proceedings, but no appeal
or writ of error by the proprietor shall stop the company
from proceeding with the construction of the road.
louisville and nashville railroad co.
21
Sec. 5. Said company shall allow to all subscribers and lo^"d"o8t8tock-"
holders of stock under the company, interest on the î°0'ck "ntn'decî
same from the time of paying for said stock up to the d"wlnd°f "the
time of making the first dividend, and issue to the holder pnatidrîntetÔ?k.be
stock therefor ; and when stock shall be subscribed for a
branch they may provide that said stock shall not be
entitled to draw dividends until said branch is completed,
but may allow interest on the payments up to the com¬
pletion thereof, and pay it in stock.
Sec. 6. That the 22d section of the charter shall be'so
amended as to authorize the county court of any county
through which the road or any branch thereof may pass,
to subscribe to the stock of said company, in the name of counties
.may subscribe
the county, and also to pay the sum so subscribed, as in for rood or
^ % # branches upon
said section provided; but no such subscription shall be i"".itio° °fa
r 7 ... majority of the
made until after such court shall have been petitioned, in ™j®r,8y of the
writing, to make the same, by a majority of the consti¬
tutionally qualified voters of such county, or until after
said court shall have submitted the question of such
subscription to all the constitutionally qualified voters
of such county, and the proposition shall have received,
in favor of it, a majority of all the votes cast.
Sec. 7. The 6th section of an act, entitled, " An act to
amend the charter of the Frankfort and Louisville Rail¬
road Company," approved the 29th day of February, 1848,
shall be in force as to all stock subscribed by any county
court in this company, and shall be and is hereby made
applicable to such court, and to the persons paying such|
tax, except that the interest shall only be drawn from the Provision in
' 1 ^ _ regardto
time of obtaining the certificate of stock, and which shall ^'jntflieB
be issued to the tax payer or his assigns in such manner ePayeîs°f t0
as such county court and said company may agree.
Sec. 8. Said company shall have the power in contract¬
ing for the construction of said road, or any part thereof,
to pay one-third of the contract price in the bonds of
the company, having not less than ten years to run, and
bearing not more than six per cent, per annum interest,
payable half-yearly, and interest and principal payable in May pay for
, .. , -, construction in
some of the eastern cities, and to secure the same by deed bonds and may
• t i make deed of
of trust on said road, in all respects, as the Louisville and
3
22
charter of the
Frankfort Railroad Company are authorized to issue the
bonds of the said company, and secure the same by a deed
of trust on said road, under the acts to amend the charter
of the Louisville and Frankfort Railroad Company, ap¬
proved the 23d day of February, 1849, and 4tli of March,
1850 ; said company shall have full power and authority
to issue the bonds of said company to an amount not
exceeding eight hundred thousand dollars, in sums not
exceeding one thousand dollars, and bearing an interest
not exceeding six per cent, per annum, payable half-yearly
in some of the eastern cities, and secure the same by a
deed of trust upon said road, as provided in the above
recited amendments to the Louisville and Frankfort Rail¬
road Company, and to sell said bonds as the Louisville and
Frankfort Railroad Company is authorized to sell the
bonds of said company, and apply the proceeds to the
completion of said road or any of its branches.
Approved March 20, 1851.
AN ACT to amend an act to Charter the Louisville and Nashville Railroad
Company, approved March 5, 1850.
Sec. 1. Be it enacted by the General Assembly of the Com¬
monwealth of Kentucky, That the act recited in the title of
this act shall be so amended that it shall be lawful for the
Louisville and Nashville Railroad Company to construct
the main line of their road to the Mississippi river or the
May m*ke line Ohio river below the Tennessee river, or to connect with
t o Mississippi # 7
ri*er. a railroad from Memphis to the State line of Kentucky,
in the direction of Louisville, or with the Mobile and
Ohio Railroad, through such of the counties of this State
as they may elect ; and said company shall not be bound,
under their charter, to construct their road to the State
line of Tennessee, in the direction of Nashville, unless the
state of Tennessee shall grant said company an acceptable
charter to construct the same to Nashville.
Sec. 2. That in case the Louisville and Nashville Rail¬
road Company shall elect to construct a railroad from
Louisville to a point on the Mississippi river, or to a con¬
nection with a railroad from Memphis, Tennessee, or the
Mobile and Ohio Railroad, within the state of Kentucky,
or the Ohio river below the Tennessee river, it shall be
louisville and nashville railroad co.
23
lawful for the general council of the city of Louisville to The city of
direct that the subscriptions made and authorized to be mâkeV1trausfcr
made to the capital stock of the Louisville and Nashville of "ckVgVÔ'f
Railroad Company, to the amount of one million of dollars, rou
shall be transferred and made to the capital stock of said
company under this amendment.
Sec. 3. That in the event of the acceptance of this
amendment by the Louisville and Nashville Railroad Name of com-
pany may be
Company, that the name and style of said company may °h*ncfadng"01"r
be changed to that of the Louisville and Southwestern rou,e-
Railroad Company.
Sec. 4. Before the stock subscribed by the city of Louis¬
ville shall be transferred, and made a part of the capital
stock of the Southwestern Railroad Company, as provided
for in this act, the general council of the city shall, by
ordinance, provide for submitting the question to the
qualified voters of the city, and if a majority of votes
polled should be cast for the transfer, it shall be made,
otherwise it shall not be done.
Approved December 15, 1851.
AN ACT to amend an act, entitled, An Act to Charter the Louisville
and Nashville Railroad Company, approved March 5, 1850, and the
act amending same, approved March 20, 1851.
Sec. 1. Be it enacted by the General Assembly of the Com¬
monwealth of Kentucky, That the act recited in the title
shall be so amended that it shall be lawful for any county
through which said Louisville and Nashville Railroad or
its branches may pass, or any county contiguous to the
line of said railroad and its branches, to subscribe for and County con_
take as many shares in the capital stock of said company
as may seem expedient to the voters of said counties, as ^tock^nVhe
provided for in section 22 of said Louisville and Nashville comPany-
Railroad Charter, approved March 5, 1850, and section 6
of the amendment thereto, approved March 20, 1851.
Sec. 2. That whenever the said Louisville and Nashville
Railroad Company shall request the county court of any county courts
r ** A . may subscribe
county through which they propose to construct said rail- stockabsoiuteiy
road, or any of its branches, to subscribe either absolutely fled conditions,
or upon specified conditions, or a specified amount to the
capital stock of the said company, the county court so
24
charter of the
requested shall, within sixty days thereafter, on a day
to be appointed by said court, cause a vote of the people
of the said county to he taken at the several election
precincts in the county, and shall appoint the judges and
R. turn of the 1 J ' 11 . "J ® ,
vote. other ofhcers necessary to conduct the election, and the
return thereof shall be made to the clerk of the county
court within ten days after the said election shall he
had.
Sec. 3. That at its next term after the return of the
vote as aforesaid to the clerk of the county, the court
After return shall order the vote for and against the subscription to be
orihT^tue"Bub- entered upon its record, and if a majority of the votes cast
shall appear to be in favor of the subscription, the court
shall order its clerk to make it forthwith in the name of
the county and in accordance with the vote.
Sec. 4. That when any such subscription shall be made
the county court shall have power to issue the bonds of
the county in payment thereof, with coupons attached
8ue°bond8t0and unc^er the seal of the county court, signed by the presiding
i"nfe'resWnd juc^ge thereof, and countersigned by the clerk for the full
bonds amount of such subscription. The bonds shall be nego¬
tiable and payable to the said Louisville and Nashville
Railroad Company in the city of New York, at not more
than sixty years from the date of the issue, and shall bear
interest from the date thereof at the rate of six per cent,
per annum, payable semi-annually in the city of New
York: Provided, that the county court of any county,
having voted and subscribed as aforesaid, shall have power
to levy a direct tax in each county sufficient to pay in
four years or longer, as to the county court may seem most
expedient, from the time of subscribing the whole of said
subscription; and provided further, that the county court
of any county as aforesaid shall have power, if by them
deemed most expedient, to levy a direct tax sufficient to
pay in four years from the time of subscription, the one
half of the amount subscribed by such county to the
capital stock of said railroad, and shall also have power
to issue to said Louisville and Nashville Railroad Com¬
pany the bonds of the county as aforesaid for the remain¬
ing one half of said subscription, which said bonds shall
louisville and nashville railroad co.
25
be issued to said railroad to an amount not exceeding one
half of the total amount in any one year; and it shall be
the duty of the county court to pay the subscription of
the county by some one of the modes recited in this
section, as to the county court may seem most expedient.
Sec. 5. That in any case where the voters of any county
through which it is proposed that the said Louisville and
Nashville Railroad or any of its branches shall pass, have court to pro-
~ m vide for p a y -
voted in favor of subscribing to the capital stock of the ment of sub-
. . scription.
said railroad company in conformity to any previous act
authorizing the same, it shall be lawful for the county
court of any such county to provide for the payment of
said subscription as provided for in section 4 of this act.
Sec. 6. That after any such subscription shall be made
the commissioners of tax for the county shall distinguish Ta!"'5'
in their tax lists between the property and slaves listed,
which are most usually kept in said county, and those
which are most usually kept in any other county.
Sec. 7. That in any case where any county subscribing
to the capital stock of said Louisville and Nashville Rail¬
road as above provided, shall issue bonds for the whole or
any part of said subscription as provided for in section 4
of this act, and until the dividends on the stock sub¬
scribed, for which the county bonds may be issued, shall
be sufficient to pay the interest on said bonds, the county
court shall levy a tax on the property, both real and per- t0
sonal as listed for state purposes, which shall lie or be are sufficient to
most usually kept in said county, sufficient after making pHy ,he sai"e'
a reasonable allowance for delinquencies to pay said in¬
terest, or such part thereof, as such dividends shall be at
any time insufficient to pay, and said levy shall include
the amount given in under the equalization law.
Sec. 8. That within twenty days after any tax shall
have been levied, in any county as provided above, to pay
either the whole of the subscription or any part thereof of
any county to the capital stock of the said Louisville and
Nashville Railroad Company, or to pay the interest upon
any bonds given by any county to said company for such
subscription, as provided for in section 4 of this act, the
presiding judge of the county court shall summons the
26
charter of the
justices of the peace of the county to meet tog-ether on a
day to be by him appointed, at not more than sixty days
from the time such levy shall be made, to elect three
.r8C°o7™ink?ng persons who shall be called the "commissioners of the
sinking-fund" of such county as may subscribe as afore¬
said to the capital stock of said Louisville and Nashville
Railroad Company. One of said commissioners shall hold
his office for one year, another for two years, and another
for three years, the term of each to be divided by lot, and
annually after the first election the justices of the peace
shall re-assemble and elect a commissioner to fill the place
of the one whose term shall then expire, and such com¬
missioner shall serve three years. Said commissioners
shall annually appoint one of their number treasurer, and
such treasurer, before he receives any moneys under the
provisions of this act, shall execute bond, with security to
be approved by the county court, in double the sum which
shall be expected to be collected during the year then to
ensue, under the provisions of this act, payable to said
county and conditioned to account for and pay over on
the order of said commissioners all funds which shall
come into his hands under the provisions of this act; and
said treasurer shall be allowed for his services not exceed¬
ing one per cent, for all moneys which he shall receive
and pay over. In case of any vacancy by death, resig¬
nation, or from any other cause in said board of commis¬
sioners, such vacancy shall be tilled for the unexpired
term by the county court.
Sec. 9. That the sheriff of any county subscribing as
above provided shall collect all taxes levied under the
<■ h tin of authority this act, and for that purpose he shall have
taxe». the same powers of distraining, advertising, and selling
personal estate and slaves, which he has in the collection
of the state revenue; and when he shall be unable to find
any personal estate or slaves liable to the tax of any indi¬
vidual, he may levy on the real estate of such individual
and sell the same under the rules and regulations pre-
Lanj sold to scribed for the sale of real estate under execution. But
SeJmu'bie!8 re" the owner of any real estate so sold who shall not have
consented to the said sale in writing, shall have five years
lotjisvtlle and nashville railroad co.
27
to redeem the same, upon payment of the purchase money
and ten per cent, interest per annum, with all taxes and
levies which shall have accrued subsequent to the sale.
Sec. 10. That the sheriff of any county, as above pro¬
vided for, subscribing to the capital stock of the Louisville ecutebônd? IX
and Nashville Railroad Company, shall execute bond, with
security to be approved by the county court, in double
the sum which shall be expected to be collected during
the year then to ensue under the provisions of this
act, payable to the county subscribing under this act, and
conditioned to account for and pay over from time to time
to the said commissioners of the sinking fund, upon their
order, all funds which shall come into his hands under
this act ; and said sheriff shall be allowed for his services
not to exceed ten per cent, of all moneys thus received
and paid over.
Sec. 11. That the commissioners of the sinking fund
of any county subscribing to the capital stock of the
said Louisville and Nashville Railroad as aforesaid, shall Power and
• n» i t duty of Com-
see that the sherm collects and pays over according missioned of
, Sinking Fund
to law the taxes herein provided to be levied, and shall
institute legal proceedings against him in case of failure.
They shall appropriate such taxes to the payment, at the
office of the said Louisville and Nashville Railroad Com¬
pany, of the amount to be paid by said county in cash as
specified in said terms of subscription, and shall also
appropriate such taxes as shall be levied to pay interest
on the bonds given by any county so subscribing for said
subscription to the payment, at the city of New York or
elsewhere, as the bonds may be made payable, of the
interest on the bonds herein permitted to be issued ; they
shall cast the votes to which their county shall be entitled,
on the annual or other elections of said railroad company,
by reason of said subscription of stock; they shall receive
the dividends upon all such stock as is held in the name
of the county, and apply them first to the payment of the
interest upon the county bonds, and when a surplus shall
accrue after the payment of such interest they shall apply
such surplus to the purchase of their county bonds, if
they can be purchased at par or under; and if that can
28
charter of the
not be done, they shall invest such surplus in some safe
and profitable manner, and in such manner that when it
shall at any time he wanted for purchase or payment of
the bonds it can he speedily and readily converted into
cash for that purpose.
Sec. 12. That all dividends which shall he received
upon the stock held and owned by any county under this
act, shall he and are hereby sacredly set apart as a sinking
apart to pay fund to be only used as above provided, for the payment
bonds and in- . . , . P -, 1*11111
terest. of the principal and interest of the bonds which shall be
issued by any county under this act.
Sec. 13. That in case the dividends upon the stock held
by the county, and for which the bonds of the county
shall have been given, shall not be sufficient to enable
sufficient to re- such county to redeem said bonds at maturity by means
deem bonds at • i • r-i * î î r* • i* x • ill
maturity,tax to of the sinking1 fund, as provided for in this act.it shall
be levied. 0 . .
be the duty of the commissioners of said fund to report
such deficiency to the county court, and upon such report
being received by the county court, it shall be the duty of
said court to levy a direct tax as provided for in this act,
sufficient to redeem the bonds when they arrive at maturity.
Sec. 14. That in case of a direct tax being levied to
redeem the bonds at maturity, as provided for in section
thirteen of this act, it shall be the duty of the commis-
red?em '"bonds" sioners of the sinking fund to cause to be transferred to
trail's furred" "to the order of the tax payers the stock held by said county
tax payer. UpQn the delivery to the said commissioners of the receipts
by the holders thereof; said tax receipts shall be negotia¬
ble by indorsement, and no stock shall be transferred for
a less amount than one share.
Sec. 15. That the said Louisville and Nashville Railroad
Company shall, upon the date of the first dividend and
thereafter, upon presentation and surrender at the office
8tockl8t9oUthe0ta°xf the company, of tax receipts for taxes paid to defray
dUidrnd^upon interest upon bonds given by any county under this act,
?"ce?pnts!10ftax i8sue to the holders thereof stock for the same; said tax
receipts shall be negotiable by indorsement, and no stock
shall be issued for a less amount than one share.
Sec. 16. That in case any county shall elect to pay the
whole or any part of their subscription in cash by means
louisville and nashville railroad co.
29
of a direct levy, it shall be the duty of the commissioners Tux levied to
of the sinking fund of said county to cause to be trans- pnyer°to9~h»vo
ferred to the tax payers stock for the tax thus paid, upon Jîîuuty?k °f the
the presentation and surrender to the said commissioners
of the tax receipts which are hereby made negotiable by
indorsement, but no stock shall be transferred by said
commissioners for a less amount than one share; and it
shall be the duty of the said Louisville and Nashville
Railroad Company to place in possession of said commis¬
sioners stock of the company to an amount equal to the
amount of moneys received or to be received by the com¬
pany in the year said tax is to he levied to pay the yearly
proportion of such subscription as is to he paid to said
company in cash.
Sec. 17. That said commissioners of the sinking fund
shall keep a record of all their proceedings and doings, er8^omk?.'pior°!
and their treasurer shall keep strict account of all moneys r°portttnd make
which shall be received or paid over by him, and shall
annually, before the expiration of his term, settle the
same in his county court; and it shall he the duty of
the said county court to cause to be published annually
in a newspaper published in their county, or in some
newspaper published in the city of Louisville, a certified
statement of the condition of the sinking fund ; also of
the moneys received and paid out by the commissioners
during the year, and also from its commencement.
Sec. 18. That in case the name and style of said Louis¬
ville and Nashville Railroad Company shall he changed
to that of the Louisville and Southwestern Railroad Com¬
pany, this act shall be of the same force and effect to that
company as to the said Louisville and Nashville Railroad
Company.
Sec. 19. That the county court of any county through
. # J ° Counties may
which it is probable that said railroad will pass, and before subscribe upon
L 1 7 conditions.
the same is located, may propose to subscribe stock in the
capital of said company in the name and for the benefit of
said county, upon conditions to be specified and prescribed
by the order of record in the county court. The order
prescribing the conditions and specifying the amount of
stock to be subscribed, shall be entered of record at any
30
charter of the
term of the court when presented, by and at the request
of twelve citizens and tax payers of such county.
to regulate gEC 20. After the order is entered it shall be the duty
votiug in coun- J
tjfsubsïXe8'"6 °f the county court to order a vote to be taken by the
officers of the election, and at the places of voting in the
county, to ascertain the opinion of the qualified voters of
the county upon the propriety of making the subscription
of stock in said road upon the conditions prescribed in
the county court order. Elections held under such order
shall be governed and conducted as required by the laws
regulating elections. The votes shall be taken for and
against the subscription of stock; and if, according to the
provisions of the third section of this act, it shall appear
that the proposed subscription of stock is approved, it
shall be the duty of the county court to make the sub¬
scription upon the condition prescribed, and if the
subscription he accepted by the directory of said company,
then the other provisions of this act shall apply to said
county, to enable her to meet the payment of the subscrip¬
tion, the principal and interest of the same, in any ot the
modes provided.
The vote not Sec. 21. The day fixed by the county court to take the
to interfere with J J -i ii
the regular eiec- vote under the nineteenth section shall not interfere with
tion.
any regular election appointed by law. The sheriff con¬
ducting the election shall, after the poll-books are certified
by the clerk and judges, on the second day after the elec¬
tion, return them to the clerk of the county court, whose
duty it shall be to report to the next term of the county
court the result of the vote, which shall be entered upon
the record of said court.
Construction Sec. 22. That the amendatory act, approved March 20,
branches m ay te 1851, and referred to in the title of this act, is hereby so
paid for in the , , . . J
bonds of com- amended as to authorize said company to pay any part of
the cost of constructing said road or any branch thereof,
and depots, engines, and passenger and freight cars, with
the bonds of said company, as provided in the eighth sec¬
tion of said amendatory act.
Sec. 23. That no tax shall be levied in the counties of
Nelson or Grayson, or subscription of stock made by the
county court of said counties under this act, unless at the
louisville and nashville railroad co.
31
August election a majority of all the voters of said counties
shall vote in favor of said tax, and the number of voters
shall be ascertained by the commissioners' books for the
same year that the election shall take place.
Approved January 9, 1852.
AN ACT to amend the Charter of the Louisville and Nashville Railroad
Company.
Sec. 1. Be it enacted by the General Assembly of the Com¬
monwealth of Kentucky, That all the lands in counties
which have taken stock in the Louisville and Nashville
Railroad Company held or owned by persons who are non- Lands of non-
residents of such counties, shall be subject to the same Ject' to railroad
taxation for the purpose of paying off such subscription of
stock, or for the purpose of paying interest on any county
bonds issued in discharge of such subscription, as the
lands of residents of such counties are now subject to for
a like purpose. That the assessors are directed to report
all such lands, their quality, location, and value, who are
the owners and where they reside, and may obtain infor¬
mation thereof from the auditor of public accounts, and
such other sources as he may be able. The sheriff shall
levy and collect the same taxes of such lands as from lands
held by the residents of said counties ; and in order to do
so, shall address each one a letter, to his residence or post-
office, of the amount to be paid by the first day of Octo¬
ber. He shall publish a list of the lands, their location,
quantity, value, owners' names and residences, and the
amount of taxation to be collected, in the newspaper of
the public printer, for ten weekly insertions previously to
the March term of the county court for such county, and
shall advertise in such publication that if the taxes are
not paid on or before the said term of such county court,
so much of the land as may be necessary to pay said taxes
will be sold on the said county court day, at the court¬
house door of the county in which the land lies, for cash in
hand. The owner shall have five years in which to redeem
the land sold, by paying the amount for which it was so
sold, and ten per centum interest per year to the purchaser ;
and if it is not so redeemed then the sheriff' shall make a
deed to the purchaser conveying all the interest of the
32
charter of the
owner in whose name the land was sold. If the owner is
a married woman, infant, lunatic, or idiot, he or she or
the heirs shall have three years to redeem after the disa¬
bility is removed or ceases.
Sec. 2. In all elections of said Louisville and Nashville
Vote of Lou- Railroad Company, the general council of the city of Lou-
eiectione o f isville may appoint some person, in the absence of the
company pro- J ^ „ , -, -, .
vided for. mayor, to cast the vote of the city, and the commissioners
of the sinking fund of each county may authorize one of
their number to cast the vote of the county of which they
are commissioners; and such votes shall be received in
such elections.
Approved February 24, 1854.
AN ACT for the benefit of the Louisville and Nashville Railroad Com¬
pany.
Sec 1. Be it enacted by the General Assembly of the Com¬
monwealth of Kentucky, That it shall be lawful for the
capital Btock Louisville and Nashville Railroad Company to increase
™dftytobeanCam'i their capital stock to any amount desired by the president
the road and and board of directors of said company : Provided, that
the full amount of capital stock to be issued by said com¬
pany shall not in any event exceed the entire cost of said
road and its branches.
Bonds may be ®EC- That it shall be lawful for said company to re-
Iuoeof1<9dtock \n deem their bonds already issued (the issue whereof is
Pthe hereby confirmed) by giving in lieu thereof the stock of
the company : Provided, that said company shall not
redeem their bonds except at par or under, and that they
shall not issue in lieu of their bonds as aforesaid, capital
stock, at less than par.
May issue Sec. 3. That it shall be lawful for said company to issue
second mon - bonds under a second mortgage of the road and branches
gage of road and - , c .
branches. to any amount deemed necessary by said president and
directors': Provided, that the full amount of said second
mortgage bonds shall not exceed one third the cost of said
road and branches.
May unite ®EC- That it shall be lawful for said Louisville and
7oadb other Nashville Railroad Company to unite their road with any
other road connecting therewith upon such terms and
conditions as may be agreed upon between the said Louis-
lieu at
value of
bonds.
LOUISVILLE AND NASHVILLE RAILROAD CO.
33
ville and Nashville Railroad Company and such other
company as they may desire to unite their said road with.
Sec. 5. That it shall be lawful for said company to
decimate their stock and to issue fractional certificates de®î^te^ay be
from one to nine-tenths of a share : Provided, that all
fractional shares thus issued shall be aggregated into full
shares within one year after the first dividend is declared
by said company ; and after that period no fractional
shares shall he entitled to dividend.
Approved March 7, 1854.
AN ACT to amend the Charter of the Louisville and Nashville Railroad
Company.
Sec. 1. Be it enacted by the General Assembly of the Com¬
monwealth of Kentucky, That an act passed by the legis¬
lature of Tennessee, at the session of 1855, entitled, An act
to charter the Louisville and Nashville Railroad Company, nessee act of Do-
and the several acts amendatory of said act passed by the
legislatures of Kentucky and Tennessee, be and the same
is re-enacted in the state of Kentucky, in the following
sections and words :
" Sec. 1. That the Louisville and Nashville Railroad „
Power to issue
Company are hereby vested with the right to issue and to cu^mortgag^"
sell and deliver by the president, or any regularly con- p°y8^celàrte their
stituted agent by the president, within the United States
or elsewhere, the bonds of the said company, signed by the
president and countersigned by the secretary of said com¬
pany, with the seal of the corporation affixed, to an amount
not exceeding three millions of dollars, bearing interest at
a rate per annum not exceeding seven per cent., payable
semi-annually, with coupons attached signed by the sec¬
retary of the company, to be made payable as said company
may direct, in any city in the United States or elsewhere,
within thirty years from their respective dates. To secure
the prompt payment of the interest and principal of the
bonds issued by authority of this act, said company may
execute a mortgage or deed of trust, appointing a trustee
or trustees, and from time to time fill vacancies that may
occur, for the use and to secure all the holders of such
bonds, with such covenants and stipulations as may be
necessary to efiect the purpose and object of its execution :
34
CHARTER OF THE
Provided, however, If said company shall receive the aid of
Lien of Ten- 8tate of Tennessee to purchase iron, etc., the lien
nessee. created by the act extending such aid shall be superior and
paramount to any lien created by the company on that
part of the road lying within the state of Tennessee. And
no part of the money, hereby authorized to be raised by
the issuance of its bonds shall be used by said company in
PrQCOçd s •
of bonds not to the construction of any branch road, nor for any other
branches. purpose than that of the construction and equipment of
the main stem of said road, connecting the city of Louis¬
ville with the city of Nashville: Provided, however, That
the bonds and mortgage hereby authorized shall not be
enforced in Tennessee at a greater rate of interest than six
per cent, per annum, unless a rate equal to seven per cent,
at the time of enforcement is allowed by the law of Ten¬
nessee ; but may be enforced to the full extent of the road,
property, franchises, equipments, and property and profits,
within the state of Kentucky, at seven per cent.
" Sec. 2. That if the mortgage or deed of trust shall be
foreclosed, according to its terms or by local proceeding,
Foreclosure of such foreclosure shall be for the benefit of all the holders
of bonds issued and secured by its provisions. Upon such
foreclosure, the president shall make a perfect list of all
bonds issued and secured by it, verified by his affidavit,
and placed on record and on file in the chancery court,
in the city of Louisville, where only such proceeding is
authorized to be had. Nor shall such foreclosure take
place sooner than ninety days after publication in one or
more newspapers printed and published in the cities of
Nashville, Louisville, and New York. The person or per¬
sons, firm or firms, corporation or corporations, that may
become the owners or lessees for the time by reason of
any sale or leasing to satisfy the demands of the bond¬
holders, shall and are hereby vested with all the rights,
privileges, franchises and immunities of the corporation.
" Sec. 3. That to create and secure a fund for the final
redemption of the bonds authorized by this act, the bonds
of the state of Tennessee, if delivered to the company,
and the bonds of the several counties which have or
may be received in payment of capital stock subscribed
LOUISVILLE AND NASHVILLE RAILROAD CO.
35
by the counties, a sinking fund shall be created by said
company. All dividends over six and inclusive of eight
per cent, shall be set apart and passed to the credit of
the sinking fund and held sacred for the purpose afore- sinking ruDd-
said, together with any other sum which may, by order of
the board, pass into the sinking fund, and any other funds
the company may have from time to time on hand. Said
company may establish offices, or create agencies to use
and employ the same, by loaning and re-loaning the same :
Provided, however, That the profit declared on the stock of
the city of Louisville and the respective counties shall only
be held subject to the order of the board by consent of the profltson city
general council of the city and the respective county siod eubjicVto
courts. Said railroad shall also have the right to retire with consent of
their mortgage bonds by issuing stock in said company to court.nd co,,nty
the holders of bonds at par at any time. The holders of
bonds at their election may demand, and on such demand bonds m«y re-
in • ' i t* r* i i -i n ceive stock in
shall receive evidences of stock in lieu of bonds, at dollar "m or bonds,
for dollar, at any time within seven years after there is a
through run of the cars from Louisville to a point within
Nashville. The mortgage bonds issued by authority of
this act, whether delivered in the United States or else¬
where, shall not be avoided in whole or in part by pleas of
usury, by reason of the rate of interest, place of delivery,
or a sale at less than their nominal value.
" Sec. 4. That the railroad company may guarantee
the payment of the interest and principal of all or pa"/-
any part of the bonds of the several counties which paYîJnd'iutèrest
have been or may be delivered in payment of stock, by ofconntïbond8-
an indorsement on each bond so guaranteed, the follow¬
ing words: 'The Louisville and Nashville Railroad
Company guarantee the payment of the interest and
principal of the within bond,' to be signed by the president
and countersigned by the secretary, and the seal of the
corporation affixed. Counties, towns, cities, and other
. i Counties, cit-
corporation8 that have or may subscribe for stock and pay etc., may
1 ^ # . retire bonds is-
the same in bonds, may, under the provisions of laws in 8Ued,for 8tock>
' J 7 x by transfer of
their respective states, retire the bonds issued by them cp°0"°'jy0D0TBtc°crk
and delivered in payment of stock, by the transfer of the ™tdLoru/r°'"'r
county or corporation stock made by the proper authority;
36
CHARTER OF THE
or may by indorsement in these words, 'convertible into
stock at the election of the holder in five years after a
through run of the cars from Louisville to a point within
the city of Nashville,' to he signed by the mayor of cities
On such trans- J ® _
far (he compa- and clerks of county courts. On such transfer being made,
ny shall cancel J °
county or city the railroad company shall cancel so much of the stock 01
stock and trans- 1 ^
fertobondhoid- county, or city, or corporation, and issue the same to
the holders of such transfers or convertible bonds. The
bonds when surrendered shall he canceled.
Tex payers " ^ec• That the tax payers in the county of Davidson,
°I,D,rid80n in the state of Tennessee, shall be entitled to stock
counry, f
in said company for sums paid by them to liquidate the
interest 011 the bonds of said county paid in discharge
of stock subscribed, up to the time the company shall
declare dividends, and not after (unless the county
court of said county, or the person having charge by law
of such dividend, shall consent and apply said divi¬
dends to the payment of the interest 011 said bonds).
The separate tax receipt of the collecting officer, exhibiting
the amount so paid, shall be transferable by indorsement ;
and the amount of one hundred dollars shall entitle the
holder to one share of stock ; but such stock shall not bear
interest. The county court shall from time to time
appoint a lit and competent person, and enter the same of
record, to whom all tax receipts and transfers shall be
exhibited and surrendered ; and upon their surrender the
taining stock person so appointed shall issue to the holder a printed
tor tax receipts . n r» i • i
in Davidson co. certificate ot the number ot shares ot stock to which the
holder is entitled, and a certificate of any amount over an
even share, which may also pass by indorsement, and be
added to tax receipts to entitle the holder to a certificate
of stock. The holders of certificates of stock shall, after
one month from their date, 011 presentation at the office of
the company in Louisville, receive a certificate of stock.
It shall be the duty of the person appointed by the county
court, to keep a list of all persons to whom they issued
certificates, and at the end of each month transmit a copy
to the secretary of the company at Louisville. He shall
also file all receipts so surrendered, and deliver them to
the agent of the company to be kept on file in the office of
LOUISVILLE AND NASHVILLE RAILROAD CO.
37
the company. The compensation of the person granting
certificates of stock shall be fixed by the county court and
paid by the county or person asking the certificate of
stock. He shall, before entering on the discharge of his
duties, take an oath faithfully to perform the duties de¬
volved on him by such appointment.
"Sec. 6. That said railroad company may at any time cities, com.-
r ties, or other
and place in the United States or elsewhere, without the corP°r?tio;,s
A ✓ 7 may subscribe
formality of opening books for public subscriptions, or payftuc hi'mo".-
appoiutiug commissioners for that purpose, receive sub- ^ j°nrg a° ' J
scriptions of stock to their company by individuals, towns, ^ah/n°d e*°c
cities, counties, or other corporations, whether payable in , haUte Va" utd""
money or other things ; with such terms and time of pay¬
ment, conditions annexed, and kind of payment, that may
be set forth in the subscription; and when the stock so
subscribed is earned or paid for, certificates thereof shall
be issued to those entitled to it. Said company may also
contract to pay in the capital stock of the company, for
anything necessary to carry on the work of construction,
or to pay any detyt of the company; and may sell, convey,
and deliver any property received for stock, or mortgage
or pledge the same. Said company may purchase and
hold or hire slaves for use in the construction or manage¬
ment of the road, but not for traffic. When no longer
wanted for the purposes aforesaid, they may be sold or
hired in the states of Tennessee or Kentucky.
"Sec. 7. That it shall be the duty of the president and President,
each director of the said company, and each engineer or gineers, and
. . agents to take
other agent engaged in the service ot the company, each oatu not to be-
. , . OO _ J » come interested
tor himself, to swear that he is not and will not, during his '■> contracts tor
. _ • t construction.
continuance in office, become mterested, directly or indi¬
rectly, in any contract for the construction of said road,
which has or may be made by the company with any
other person. The engineers shall also swear, that they
will well and truly, to the best of their skill and judg¬
ment, make a fair and impartial estimate of work done
and material furnished according to contract, and other- oa^rtt'„Cbt0e r°.f
wise faithfully perform the duties of engineer so long as min"
they continue in the service of the company. A certifi¬
cate of such oath, taken before an officer authorized by
4
38
CHARTER OF THE
law to administer oaths, shall be recorded on the minute
book of the company.
viout°nItyoatîir " $ec. 8. That if, on judicial proceeding and judgment
of any court of competent jurisdiction, it shall be adjudged
that any engineer or any of the officers or agents afore¬
said shall, at any time after taking such oath, have been
interested with any contractor in any contract for the
construction of said road or any part thereof, or for equip¬
ping said road, no recovery in law shall be had on such
contract; and said interested engineer or officer shall be
deemed guilty of the crime of perjury.
Cumberland u Sec. 9. That full and complete powers are herebv given
river bridge at # #
Na8hviiie may to the Louisville and Nashville Railroad Company, to the
be built by L. & r J ~
other raifroad's^ Edgfield and Kentucky Railroad Company, and to any and
eha9emrigi,t>Uofrailroad companies now chartered or which may be
way, etc. hereafter chartered by the state of Tennessee, to unite
in the purchase of the necessary grounds, right of way,
or other privileges necessary for, and to unite upon such
terms as may be agreed on in the construction of a com¬
mon bridge across the Cumberland river, and in the
erection of any buildings and fixtures useful for the con¬
venient transfer of passengers and freight from one road
to another.
" Sec. 10. That within the space of two years from and
after the passage of this act, the said Louisville and Nash¬
ville Railroad shall have completed, equipped, and in
operation, not less than thirty miles of its road next to
the city of Nashville, including the bridge across the
Cumberland river, unless prevented or obstructed by
Bridge to be unavoidable occurrence or hindrance : Provided, that none
built by U16&D8 1 I • j • 1
raised for that ot the tunds or resources belonging to said road, raised,
purpose only. ^ raige,^ for the building of the road proper, shall
be applied to the building of said bridge, but that said
bridge is to be built exclusively from the use of means
appropriated or to be appropriated to that object; and
that the thirty miles on this section mentioned is to include
said bridge only on the condition of adequate means being
furnished for that object.
u Sec. 11. That the Edgfield and Kentucky Railroad and
the Louisville and Nashville Railroad are entitled to the
louisville and nashville railroad co.
39
sum of one hundred thousand dollars each, to construct a 9200,000 i„
bridge across the Cumberland river at Nashville, and that at"dby theefatê
they are hereby consolidated for that purpose, and shall buiidbudge.'
be entitled, upon application, to the sum of two hundred
thousand dollars, for which the governor shall issue cou¬
pon bonds of the state at six per cent, at thirty years, to
be issued as twenty thousand dollars of the work shall be
done from time to time.
" Sec. 12. The power is hereby vested in the Louisville Joint road by
and Nashville Railroad Company, and the Edgfield and k'.'r. 'r., from
___ , . junction.
Kentucky Railroad Company, to enter into an agreement
to construct a road to be held and used in common, with
single or double track, from the city of Nashville to a
point to be agreed upon, not to exceed ten miles ; and
said companies shall each be entitled to state aid under
the provisions of the act passed 11th February, 1852, entitled
an act to establish a system of internal improvement in
this state, and an act passed 8th February, 1854, entitled^
an act to amend an act passed 11th February, 1852, enti¬
tled, an act to establish a system of internal improvement
in this state, in as full and complete a manner as if each
road had been separately constructed. But it shall be
the duty of said companies to construct a double track
for the distance they run together within five years from
the time the cars commence running on said roads, and
may agree on terms of separating their interests.
"Sec. 13. That this act shall take effect from and after Branch roads,
its passage: Provided, Nothing herein contained shall be
construed to prevent the Louisville and Nashville Rail¬
road Company from admitting branch roads to connect
with it at any point or points to be agreed upon between
said company and those who have or may subscribe stock
for the construction of any branch road. The stock
subscribed, and the means created to construct each sepa¬
rate branch, shall be faithfully applied to that purpose;
and said company is hereby vested with the power and B|gl ts of
right to issue its bonds, under the provisions of this act, bra'nncb9etsem and
to obtain means to construct and equip any branch road;
the bonds to express on their face the purpose for which
they were executed; and to secure their payment may
40
CHARTER OF THE
execute a deed of trust or mortgage, for the payment of
which the rights, credits, profits, property, and franchise,
procured for said branch by the use of its means, shall
alone be made liable. The credit, rights, or profits of
the main stem shall not he used to create means to
construct, or made liable for any debt or liability created
to construct branch roads; nor shall the rights, credit,
property and profits of any branch road be used to create
means to construct, or made liable for any debt or liability
created to build the main stem ; and with a view to such
liabilities and profits, said company 6liall keep separate
accounts, exhibiting the stock, property and debts of the
main road and each separate branch.
Tenn-wc ai- " Sec. 14. That upon the acceptance of said company
of the benefit of the act of Tennessee, extending to said
company aid in the purchase of iron, etc., two additional
directors shall be added to the number allowed by the
original charter, who shall be in office from the time of
their appointment by the governor, and remain in office
for one year, and until their successors are appointed
and qualified. The directors so appointed shall represent
the state of Tennessee to an amount in shares equal to a
subscription of five hundred and forty-five thousand dol¬
lars, at all meetings of the stockholders, and, in the sit¬
tings of the board of directors, either may vote for the
other, and both or either may in writing vote by proxy ;
and in like manner may any other director residing in
Tennessee vote in person or by proxy: Provided, how¬
ever., if any thing should occur to prevent the company
from receiving the state aid, said state directors shall only
represent the state to the extent the company may realize
state aid.
Agreement to "Sec. 15. That the Louisville and Nashville Railroad
stock. Company be, and they are hereby authorized and vested
with the power to make an agreement with any of the
county courts of counties which have subscribed stock in
said road, payable in bonds, whereby such counties may,
through the county courts, acting under authority of law
conferring the power to contract, agree to reduce the
amount of their stock and covenant to pay the same in
louisville and nashville railroad co.
41
money at a shorter period, and secure the same by the
execution of bonds maturing at an earlier date, and of
less denomination, and transfer the stock of said county
courts to the tax payers of the respective counties.
" Sec. 16. That upon presentation of tax receipts for tu* paye™ in
taxes paid in Sumner county, to an amount equal to one 8un"'er C0'm,J'
or more shares, countersigned by the clerk of the county
court of Sumner county, as now required by law, said
company shall issue certificates of stock in said company
to said tax payers or their assignees ; but such stock
shall not bear interest."
Sec. 2. That in addition to the foregoing sections, Ma*
c> o " agreement with
enacted by the state of Tennessee, and hereby enacted by t,?,messiey t"
the state of Kentucky, the following rights are vested and 18frotnô
powers created, to be held and exercised by-said company LouisviUc-
within the state of Kentucky: The said Louisville and
Nashville Railroad Company are hereby vested with the
power and authority to make agreements with any com¬
pany or corporations incorporated by the laws of the state
of Tennessee, to construct a railroad in part or in whole
of the distance between Louisville and Memphis, and
running in the direction of Louisville, whereby to secure
mutual and reciprocal rights to the contracting parties, to
run their respective roads through from point to point cr1mfn«tîondôSn
with or without change of cars or other machinery, and
and travel from
any other agreement which the parties may mutually mem. t°o lo!!.'
make to facilitate trade and travel between the said cities
of Louisville and Memphis. And the said Louisville and
Nashville Railroad Company may, in arranging a taritf of
tolls, make discrimination on such freight and travel as
may run through from Louisville to Memphis and from
Memphis to Louisville, and such as may run in part on
their road, and transhipped to another.
Sec. 3. That said company may, under the provisions
n . . -, <xtenil
of the 13th section of this act, from time to time extend branch or buy
other roadfl.
any branch road, and may purchase and hold any road
constructed by another company, or may agree on terms
to receive the cars of other roads on their said road, but
shall charge for the same the usual freight.
42
charter of the
stock to t»z Sec. 4. That said company shall issue to the tax payers
payers in Lou- . . ~ T , i • • -i i
isviiie. on property in the city ot Louisville stock in said road
when one hundred dollars in tax receipts shall be pre¬
sented by the original tax payers, their assignees or
representatives, for sums which have or may be paid to
liquidate the interest on the bonds of the city of Louis¬
ville, which have or may be delivered in discharge of
stock subscribed in said road by the city ; the certificates
of stock to set forth the number of shares and fractions
of shares to which the holder is entitled. It shall be the
duty of the several county courts, in counties which have
subscribed stock, to appoint the clerk of the county or
circuit court, or one of the commissioners of the sinking
certificates to fund, to issue in printed form to the tax payers, their
tax payers in . . A A ^
counties. assignees or representatives, on property in the several
counties listed for railroad taxation, when one hundred
dollars is presented, a certificate setting forth the number
of shares and fractions of shares to which the holder is
entitled. He shall at the end of each month, if any certifi¬
cates have been issued during the month, make a certified
list of the names of persons to whom lie issued a certificate,
setting forth the number and fraction of shares, and the
names of the persons whose tax receipts are included in the
certificates, and forward the same to the office of the railroad
company; after a receipt of which, on application of the
holders of such certificates, or their assignees or represen¬
tatives, said company shall cause the usual evidence of
stock in shares and fractions of shares to be delivered. It
shall be the duty of the stock commissioner to keep 011 file
all tax receipts surrendered to him, and 011 the written
request of the president, surrender them to the company.
Before entering into office he shall take an oath well and
truly to discharge the duties of his office. He may charge
and demand payment 011 the delivery of such certificates one
such stock en- dollar for each share of stock. The holders of such stock
rights of stock- shall, to all intents and purposes, be entitled to all the
rights and privileges of stockholders, but such stock shall
not bear interest.
Sec. 5. That any officer or agent in the service of the
Embezzle- , ,
ment, etc. company who may be intrusted with the care and custody
louisville and nashville railroad co.
43
of its funds or securities, or receive the same for sale or
disbursement, and shall embezzle the same, or the proceeds
thereof, and fail to apply them to the use of the company,
and convert the same to his own use, and fail or refuse to
restore the money or securities, or the proceeds of secu¬
rities, or who shall knowingly and wilfully over issue or
connive at a knowing and wilful over issue of the stock
of said company for a fraudulent purpose, shall be deemed
guilty of felony, and on conviction be confined in the peni¬
tentiary for one year.
Approved January 17, 1856.
AN ACT to amend the Charter of the Louisville and Nashville Railroad
Company.
Sec. 1. Be it enacted by the General Assembly of the Com- iDcome bonds.
monwealth of Kentucky, That the charter of the Louisville
and Nashville Railroad Company shall be so amended, as
to vest said company with authority to issue and sell the
bonds of said company, for the purpose of completing
said road, in sums not less than $100, nor more than
$1,000, and to an amount not exceeding $12,000 per mile,
on the main line, in the state of Kentucky, payable to
bearer, bearing interest at a rate not exceeding eight per
centum per annum, payable half yearly at some bank or
banks in the state of Kentucky, or in New York—the
bonds to be in the nature of income bonds, of which not
more than $200,000 shall be made to mature in any one year
—to he signed by the president and countersigned by the
secretary, and the corporate seal affixed—the coupons to be
signed by the secretary. To secure said bonds said com¬
pany may execute a mortgage on the main line of said
road, and the property, rights and privileges connected
with and used in connection with the operations of said
main line within the state of Kentucky ; and in the face
of the bonds may pledge the income of said road, after
paying costs of transportation, repairs, etc.
Sec. 2. That if, from any cause, the net income of the Additional in¬
road shall not be sufficient to pay any year's installment ofcoraeboncl9-
bonds issued and sold under the provisions of the first
section hereof, said company shall have authority to issue
and sell bonds at a longer rate, in order to retire the same,
44
charter of the
but the additional bonds to be issued and sold, under the
provisions of this section, shall at no time exceed $2,000
per mile on the main line in Kentucky, beyond the sum
provided for in the first section. The payment of such
additional bonds may be secured by mortgage or deed of
trust, as hereby authorized,
sec. i and 2 Sec. 3. The provisions of the 1st and 2d sections of this
Lebanon'0 and act shall apply to the Lebanon branch, and to the Mem-
ranc es. ^.g prancp? ^o COnnect with other roads in Tennessee, in
as ample and beneficial manner as if enacted in a separate
section to that effect.
Sec. 4. That when the holder of any bond or bonds
issued by the provisions of this act, or under the provis¬
ions of an act, entitled, an act to amend the charter of the
Louisville and Nashville Railroad Company, passed at
sessions of 1855 of Tennessee and Kentucky legislatures,
shall elect and make application at the office of said com-
Honda coo - Pany to convert such bonds into the stock of said company,
àtock.ed int° the power is hereby vested in said company to substitute
the stock of the company for such bond or bonds, at dollar
for dollar ; the power of substitution shall only exist by
the consent of the holder of bonds, when application is
made.
Sec. 5. That it shall be lawful for the several counties
that have or may subscribe stock in said railroad company
or branches and have or shall pay therefor in the bonds of
the city, of the respective counties by their constituted
, authorities, to invest any surplus levies or sums in their
Counties in- 7 j r
wst surplus sinking funds in the purchase of the bonds authorized to
levies in pur- ~ r
chaseofbonds. pg jgsued under the foregoing provisions.
Sec. 6. That the Louisville and Nashville Railroad Com¬
pany, for the main line and its branches, in making a tariff
for freight and passengers, shall have the same authority
that is vested in the Lexington and Frankfort and Louis-
Tariff for #
freight and pas-ville an(J Frankfort Railroad Companies have by their
se n g e r s and A ^
limitation o f charters and amendments thereto, and shall have the right
actions. ' o
to plead and rely on the same limitation for the same
causes of action provided for said railroad companies.
Sec. 7. To enable the Louisville and Nashville Railroad
Company to make profitable the outlay for grading,
louisville and nashville railroad co.
45
masonry, and bridging, to the south bank of Green river, city^r Louis-
the general council of the city of Louisville shall be and additional sut.-
5^ , , . scriptions and
are hereby authorized and empowered to subscribe three p»y in bonfi8-
thousand additional shares of the stock of the Louisville
and Nashville Railroad Company and pay for the same in
the bonds of the city of Louisville, in sums of not less than
§100 nor more than §1,000, the one-fourth thereof payable
in one year, one-fourth in two, one-fourth in three, and
one-fourth in four years, from their respective dates, bear¬
ing six per cent., payable half yearly at some bank in the
city of Louisville, and payable to the Louisville and Nash¬
ville Railroad Company, signed by the mayor of the city,
and with the seal of the corporation affixed, countersigned
by the auditor, and the coupons signed by the auditor.
Sec. 8. That to create the means to pay the interest Toievytaxt..
and discharge said bonds at their maturity, the general uterest" 8
council, with the approval of the mayor, are authorized
and directed to levy a tax on the property and subjects of
taxation within the corporate limits of said city, sufficient
to pay the annual interest upon the whole sum, and the
bonds as they fall due in each year, and may appoint a
collector or collectors, taking from them bonds with ap¬
proved security, conditioned to collect the taxes levied
within the time to be prescribed in said bond, and to pay
over the same into the treasury of the city for the use
aforesaid—the bond or bonds to be made payable to the
city of Louisville,' and may be enforced by motion or suit,
with fifteen per cent, for defalcation of payments. The rower to coi-
collector shall have power to levy and sell any property of proceedings
the party in whose name it was listed for taxation, upon
advertising the same a reasonable time, in one or more of
the papers published in the city, and on the payment of
the tax, said collectors shall give the person paying the
same a receipt, setting forth precisely the sum paid for the
purpose herein contemplated, which receipt shall entitle
the payer or his assignee or representatives to stock in said
railroad company to the extent of the sum paid, which
shall be preferred stock, and on its face the certificate preferred stock,
shall contain a stipulation or covenant that said company
shall pay six per cent, interest per annum from and after
46
CHARTER OF THE
one year from the time the rail track crosses Green river.
The tax receipts and stock hereby authorized to be issued
shall pass by assignment. The council shall fix the com¬
pensation to be paid to collectors.
Election. gEC- 9, That after the passage of such ordinance it shall
be advertised by publication in the newspapers published
in the city of Louisville twenty days ; and on a day fixed
in the ordinance a poll shall be opened at each of the
voting places for representatives, at which the voters
qualified to vote shall be entitled to a vote for or against
said ordinance, and if it shall appear that a majority of the
votes cast are in favor of said ordinance its provisions shall
be carried into effect, and not otherwise. The mayor
shall appoint judges and clerk of said election, and it
shall be the duty of the sheriff, with the requisite number
of deputies, to attend the election and be governed by the
laws in force regulating general elections. The poll-books
shall be certified in the usual form by judges, clerks, and
attending sheriff, and within the next three days after said
election, returned to the mayor's office, and by him and the
auditor and treasurer counted, and the result ascertained
shall be officially announced in the papers of the city, after
which it shall be the duty of the mayor, with reasonable
dispatch, to issue and deliver said bonds.
Approved February 6, 1858.
AN ACT to amend the Charter of the Louisville and Nashville Railroad
Company.
du™rPimfnTte Sfc. 1. Be it enacted by the General Assembly of the Com-
through °pae- monwealth of Kentucky, That the board of directors (a
freight /8 and majority concurring) of the Louisville and NashvilleRail-
road Company may, in their adjustment of a tariff for
freight and passengers, make a discrimination in favor of
through freights and through passage, and in favor of
freights and passage for long over short distances : Pro¬
vided, however, that the tariff of charges for freight and
passengers from Louisville to Nashville and from Nashville
to Louisville shall be the same, and in adjusting the rate
of charges for long over short distances the same rule or
rate of charges shall be observed on every part of the road,
and no such discrimination shall be made to favor freight
LOUISVILLE AND NASHVILLE RAILROAD CO.
47
and passage going to or in the direction of Louisville over
such as may go to the direction of Nashville, and none in
favor of such as go to or in the direction of Louisville ;
and adequate facilities shall be furnished for transportation.
Sec. 2. That said company may make arrangements „
r J J o May agree with
with other companies for through freights and passage °^9ef0rct°h'rn0P®h'
from distant points on such terms as they may agree from flights,
time to time.
Sec. 3. This act may he carried into effect, the pro- .
J f Not to exceed
visions of any other act to the contrary notwithstanding ; le«ftl rate8-
but it is not the meaning or intention of this act to
empower the board of directors for said railroad to charge
a higher rate of tariff on way freight and passengers than
is now established by law.
Approved February 28, 1860.
AN ACT to Amend the Charter of the Louisville and Nashville Railroad
Company.
Sec. 1. Be it enacted by the General Assembly of the Com- company may
monwealth of Kentucky, That the Louisville and Nashville u"™huharë?ëf
Railroad Company is authorized to withdraw by purchase m°ak£nwhoi'e
fractional shares of stock and of interest scrip, and to sell cïearsee'thedcàp'-
fractions to make full shares ; and is alsb authorized to amount equal to
'iiiiP-T j , cost of road and
increase the capital stock of said company to an amount branches, and
sufficient to represent the full cost of the road and branches SIm by'thë'iaane
r* i ni of preferred
in stock ; also to liquidate any of the mortgage and other stock,
debts of the company by the issue of preferred stock
entitling the holders to dividends at the rate of four per
cent, half yearly on such stock.
Sec. 2. This act to be in force when accepted by the
stockholders at any regular or called meeting.
Approved May 16, 1861.
AN ACT to Amend the Charter of the Louisville and Nashville Railroad
Company.
Sec. 1. Be it enacted by the General Assembly of the Com- f Provisions
monwealth of Kentucky, That on the Louisville & Nashville <he Lebanon
47 u 1 . . branch, and if
Railroad Company determining: to extend the Lebanon determined on
r *> ° the company
branch of said road to Danville, Mount Vernon, or Mon- ™ùhythê0city0of
ticello, or some place in the direction of either oftLh7ioInof86oor-
said places; or upon said railroad company determining ^a« one thou7
to extend a branch west of the main stem into the coal p" cenuJond!?
48
charter of the
regions, that it shall be lawful for said company to con¬
tract with the city of Louisville to lend to the company
not exceeding six hundred thousand dollars, in thirty
years one thousand dollar bonds, hearing six per cent,
interest per annum, payable semi-annually in Louisville,
and secure the interest and principal on the branch or
extension for which they may be loaned.
Such contracts Sec. 2. That all contracts between the Louisville and
!°i>bel,lcnomn[mD? Nashville Railroad Company and the city of Louisville,
' e '"> under the provisions of the preceding section, shall be
lawful and binding 011 said company and the city of Louis¬
ville.
Approved February 26, 1863.
AN ACT to Amend the Charter of the Louisville and Nashville Railroad
Company.
The 13th aDd Sec. 1. Be it enacted by the General Assembly of the Com-
the act of Dec. monwealth of Kentucky, That when the Louisville and
nessed, ' and ofNashville Railroad Company shall have taken up the
or ' Kentucky,' bonds loaned said company bv the state of Tennessee, for
repealed except . , . .
seven lines oi the construction of that part of said road that is within
13th section,and # A
no difference to the said state of Tennessee, the whole of the 13th and 14th
exist between 7
stock and debts sections of an act entitled, " An Act to amend the Charter
of main line and 7
aîâte books'noi °f the Louisville and Nashville Railroad Company," ap-
andbaenksetock«nto proved January 17th, 1856, except the first seven lines of
&eN.'K.0Kthco^' 9ai(l 13th section of said act, shall stand repealed ; and
thereafter there shall be no difference between the stock
and debts of the main line and branches, nor shall separate
books be required to be kept, and all stock issued shall be
that of the " Louisville and Nashville Railroad Company."
byTumbajoHty'of however, that this act shall first be accepted by
stockholders. £pe stockholders at some annual meeting.
Holders of Sec. 2- The holders of certificates of stock of the main
u'neand branch- hne and branches may surrender the same and have them
dormacyeruflcatê re-issued as above directed.
ren-usucd° ",<m Sec. 3. This act shall take effect from its passage.
Approved January 8, 1864.
AN ACT to Amend the Charter of the Louisville and Nashville Railroad
Company.
Sec. 1. Be it enacted by the General Asse?nbly of the Com¬
monwealth of Kentucky, That it shall be lawful for the
louisville and nashville railroad co.
49
Louisville and Nashville Railroad Company to acquire Company may
and hold lands for stone quarries, and coal and timber queues6'and
i -I i • -i -l r* 11 n ,-i -j i coal and timl>cr
lands, which may be necessary ior the use 01 the road and lands,
its business.
Sec. 2. The city of Louisville and the several counties CityofLoui8.
holding stock in said road, paid in bonds, may sell to said *"0d, "g
road or to others their stock for the redemption of their ab'j^s a'[|
bonds; however, no sale shall be made by the justices of o°'otUrTEpSu
, , n . .1 • , r the vote of the
the peace or county court of any county, or the city of city or counties.
Louisville, without the question of sale or no sale shall
first be submitted to the legal voters of the county or city
desiring to sell ; said election to be held after sixty days
notice in the manner elections are held for members of the
legislature ; a majority of the voters, voting for the sale,
shall authorize the sale to be made.
Sec. 3. This act shall take effect from its passage.
Approved February 10, 1864,
AN ACT for the benefit of the Louisville and Nashville Railroad Com¬
pany.
Sec. 1. Be it enacted by the General Assembly of the Com¬
monwealth of Kentucky, That the charter of the Louisville rate of charges
and Nashville Railroad Company be and the same is cent.on through
hereby amended so as to authorize said company to in- sengers,"butpûot
crease their rate of charges twenty-five per cent, upon the or passengers,
amount they are now allowed by law to charge upon
freight and passengers transported from Louisville to
Nashville, or vice versa: Provided, Nothing in this section
shall authorize the company to increase their rate of
charges upon way freight and passengers.
Sec. 2. This act shall take effect from its passage and To contlnm.
continue in force five years. five yettrB
Approved March 2, 1865.
AN ACT to Amend the Charter of the Louisville and Nashville Railroad
Company, Approved March 5, 1850.
Sec. 1. Be it enacted by the General Assembly of the Com¬
monwealth of Kentucky, That the charter of the Louisville
and Nashville Railroad Company, approved March 5th,
1850, be, and is hereby, so amended as to authorize said
company, by a vote of a majority of the board of directors
thereof, by legal means to acquire an interest in or to
50
charter of the
May coneoii. unite or consolidate with any railroad company or com-
with companies panies chartered by the laws of any other state or states,
other states, whose railroad may connect with the Louisville and Nash¬
ville Railroad, or with which the Louisville and Nashville
Railroad Company may now have a contract for a con¬
solidation of their companies, so as to make the same one
company, with a consolidated stock and property, with
one board of directors to manage and control the affairs of
said company, and with power in the Louisville and
Nashville Railroad Company to form such consolidation
May purchase by the purchase of the railroad or railroads, other property
such roads. • -i . /> i • i • *i i
rights, franchises, and privileges of such other company or
companies, or by any other legal mode they may select :
upon vote of Provided, A majority in interest of the stockholders shall
stockholders. ° accept this amendment and authorize the board of direct¬
ors to act therein.
May issueand Sec. 2. That in order to enable the Louisville and Nash-
sell bonds.
ville Railroad Company to.effect the purposes specified in
the preceding section of this act, the said company is
hereby authorized to issue and sell, either before or after
such consolidation, the bonds of the company, signed by
the president and countersigned by the secretary thereof,
with the seal of the company affixed, and coupons for
interest attached, and signed by said secretary, to an
amount not exceeding eight millions of dollars, bearing
interest at a rate not exceeding seven per cent, per annum,
payable semi-annually, and the bonds and coupons to be
payable at such place or places as the company may select,
and the bonds to be payable at a period not exceeding
thirty years from their respective dates.
may execute Sec. 3. That in order to secure the prompt payment of
mortgage. # , .
the interest and principal of the bonds issued by virtue of
this act, said company shall have power to execute a
mortgage or a deed of trust, to a trustee or trustees, and
to fill any vacancy that may occur by reason of the death,
resignation, or removal of such trustee, upon the main
line of railroad, the branches, and other property, rights,
privileges, and franchises of said company, including any
railroad and property, rights, franchises, and privileges
louisville and nashville railroad co.
51
that they may acquire by such consolidation as aforesaid,
whether such railroad and property, rights, franchises, and
privileges he within the state of Kentucky or in any other
state or states ; and said mortgage or deed of trust shall
contain such stipulations as may be deemed necessary,
and the most effectual in securing the payment of the
interest and principal of said bonds at the maturity of the
same.
Sec. 4. That said mortgage or deed of trust, and any Foreci09Ureof
foreclosure of the same, shall be for the benefit of all the mortea8>--
holders of said bonds; and the Louisville chancery court,
in the state of Kentucky, or any other court of similar
jurisdiction in the city of Louisville, shall have exclusive
jurisdiction over all proceedings instituted for such fore¬
closure, by proper decree in a proper case made in such
court ; and upon the institution of proceedings for a fore¬
closure, it shall he the duty of the president of the company
to file in the cause a perfect list of the bonds issued by
authority of this act, verified by his affidavit; and no
decree of foreclosure by a sale of the property, rights, fran¬
chises, and privileges, conveyed by the mortgage or deed
of trust, shall be executed until ninety days' notice of the
time and place of sale shall have been published in one or
more of the newspapers published in the cities of New
York, Louisville, Nashville and Memphis; and any pur¬
chaser at such sale shall, upon the payment of the purchase
money, be vested with the property, rights, franchises, and
privileges conveyed in the mortgage or deed of trust pur¬
chased by him under such decree.
Sec. 5. That it shall be the duty of said company to
create and secure an ample sinking fund for the payment
of the interest as it falls due, and for the redemption of
the bonds at maturity.
Sec. 6. That should the Louisville and Nashville Rail- „
Consolidation
road Company form such consolidation as specified in ™a^; rB£®
the first section of this act, with any railroad company chansed-
chartered by any other states as aforesaid, they shall have
power to adopt such corporate name as they may select ;
and in such name shall have all the powers and privileges
52
charter of the
heretofore conferred upon said company by the laws of
the states of Kentucky and Tennessee.
Sec. 7. This act shall take effect and he in force from
its passage.
Approved February 21, 1868.
LAWS REFERRED TO IN CHARTER AND AMENDMENTS.
AN ACT to amend the act incorporating the Lexington and Ohio Rail¬
road Company.
Sec. 1. Be it enacted by the General Assembly of the Com-
three miles and monwealth of Kentucky, That it shall be lawful for the
flve^miies^and Lexington and Ohio Railroad Company to commence the
business of transportation on their railroad whenever any
part is completed ; anything in their act of incorporation
to the contrary notwithstanding.
Sec. 2. That they shall be, and are hereby permitted
to charge for transportation of passengers, a distance of
three miles and under, twelve and a half cents for each
passenger ; and for the transportation of produce and
merchandise, and other articles paying by weight, when
the distance is under five miles, they may charge the same
compensation as though they transported five miles.
Approved December 22, 1831.
AN ACT to amend the Charter of the Frankfort and Louisville Railroad
Company.
Sec. 1. Be it enacted by the General Assembly of the Com¬
monwealth of Kentucky, That if the improvements that
are to be valued by the commissioners under the 52nd
section of the act to which this is an amendment, shall be
on lands to which the Lexington and Ohio Railroad Com¬
pany had not acquired the right of way, and the owner
or owners thereof shall refuse to surrender the right of
way to the president and directors of the Frankfort and
Louisville Railroad Company, said President and directors
louisville and nashville railroad co.
53
of the Frankfort and Louisville Railroad Company may
acquire the right of way as directed by the 39th section
of the act to which this is an amendment, and if the
damages agreed upon or assessed, shall exceed or he equal
to the value of the improvements, then said company
shall not be charged with the improvements, as said com¬
pany shall not have acquired the right of way. If the
damages agreed upon or assessed be less than the improve¬
ments, then the excess only shall be charged to the
company and included in their bond to the state.
Sec. 2. All the rights, privileges, and restrictions of the
Lexington and Ohio Railroad Company as they existed
under the charter of said company from St. Clair street
in Frankfort to the city of Louisville, except so far as
they conflict with the charter of the Frankfort and Louis¬
ville Railroad Company, shall be and they are hereby
revived and continued in full force, and transferred and
covered, together with all the fee and right of way acquired
and held by said company to the president and directors
of the Frankfort and Louisville Railroad Company—pro¬
vided that this section shall not prohibit or interfere in
any way with the right of the state of Kentucky, or her
lessees to extend the railroad now in use, or any other
she may by law construct from Lexington to Frankfort
through Broadway street in said town to the river, or in
any manner interfere with the rights and privileges granted
by the state of Kentucky to the present lessees of the Lex¬
ington and Ohio Railroad, unless the written consent of
the said lessees shall be first obtained.
Approved February 29, 1848.
AN ACT to Amend the Charter of the Frankfort and Louisville Railroad
Company.
Sec. 6. Whereas, the city of Louisville has, under the pro- preami,ie.
visions of the charter of said company, subscribed stock to
the amount of $500,000, the said company and the citizens
of Louisville have petitioned, and at a public meeting of
the citizens, passed resolutions in favor of raising said sub¬
scription of $500,000 by a tax on the real and personal
estate of the city, collectable in four years. Be it further
enacted, That it shall be lawful for the mayor and council
5
54 charter of the
Mayor and of the city of Louisville, and they are hereby vested with
council to cause /» n -i j.i *j_ j_ ,1 i i
rvai and per- iull power and authority to cause the real and personal
beDa8sessedLan° estate within the city to be assessed annually for four
years, 'and levy years, at a fair cash value, and to levy and collect a
and collect a v _ .
tax of one per tax of one per cent, on such valuations, tor each of the
cent., and tax A
how applied, four years, as taxes of the city are now collected, and
apply said tax as collected to the payment of said $500,000
Persons pay- of stock in said company, and each and every person who
ing tax entitled , . ' J .
to pro rnt« share pays any part of said tax shall be entitled to his pro rata
of stock, and 1 J « . .
may demand a share of said stock, and shall be entitled to demand and
certificate. ^ 7
receive a certificate so soon as he shall have paid for a
full, a half, or a quarter share, or shall produce transfers
from those who have paid portions, so as to entitle him to
a full, a half, or a quarter share.
Approved February 29, 1848.
THE 2d section of an Act to Amend the Charter of the Lexington and
Frankfort Railroad Company, and Louisville and Frankfort Railroad
Company.
Sec. 2. Be it enacted by the General Assembly of the Com¬
monwealth of Kentucky, That so much of the twentieth
section of the aforesaid recited act as limits the freight to
be charged by said company for the transportation of
goods, produce, merchandise, or property, on their rail¬
way, be, and the same is hereby repealed; and said
company shall have power to charge for tolls and the
transportation of goods, merchandise, produce, or prop¬
erty of any kind whatsoever, transported by them along
said railway, any sum not exceeding the following rates,
Freight. viz : for transporting single packages any distance, weigh¬
ing less than one hundred pounds, twenty-five cents, and
at that rate if such package weighs more than one hundred
pounds; for transporting goods, merchandise, produce, or
property of any description, weighing over sixty-five
pounds to the cubic foot, not more than four mills per
hundred pounds per mile; for transporting any goods,
merchandise, or property, weighing more than forty-five
pounds and less than sixty-five to the cubic foot, not
exceeding fifteen per cent, over the rates allowed to be
charged for heavy merchandise; for transporting any
goods weighing more than twenty and less than forty-five
louisville and nashville railroad co.
55
pounds to the cubic foot, not exceeding thirty per cent,
over the same rates; and that in the transportation of
goods, merchandise, or property weighing less than twenty
pounds to the cubic foot, said company shall have the
right to estimate each cubic foot as weighing twenty
pounds, and to charge for the transportation of the same
at the rates hereby fixed. Silver and gold bullion, money
of all descriptions, and mails are excepted from the rates
herein established, and the board of directors or their
agents, shall be and they are hereby authorized to contract
especially for their transportation upon such terms as the
parties interested therein may agree upon.
Approved December 21, 1850.
THE 4th, 6th, and 7th sections of an Act to Amend the Charter of the Lou¬
isville and Frankfort Railroad Company, approved 23d February, 1850.
Sec. 4. Be it enacted by the General Assembly of the Com- ,,
«7 ° J May cbargf
monwealth of Kentucky, That said company shall have the
same authority to charge for receiving, forwarding, and ®tg°^lDg re¬
storing packages consigned to them or their agents, or
deposited in their warehouse or depots, or with their
agents for safe keeping, to be forwarded, as the Lexing¬
ton and Frankfort Railroad Company has under the 20th
section of an act approved 28th February, 1848.
Sec. 6. That said company shall be liable for all dam- Liable for kin.
ages done to stock or other property injured or killed by 1Dg9t0Ck
their locomotives or trains of cars, running on the road,
when the same is done by their carelessness or the care¬
lessness of their agents or employees, but shall not be
liable to pay damages for any such killing or injury done
by unavoidable accident : Provided, That nothing in this
act contained shall be so construed as to interfere with
the liabilities of said company as common carriers.
Sec. 7. All suits brought against said company, for Lim t ation six
stock or other property injured or killed on aforesaid m0Dths'
road, must he brought within six months next after such
injury or killing is done.
Approved February 23, 1856.
56
CHARTER OF THE
TENNESSEE.
AN ACT to Incorporate the Louisville and Nashville Railroad Company.
Right of way Sec. 1. Be it enacted by the General Assembly of the State
of Tennessee, That the right of way for the construction
of a railroad from the line between the states of Kentucky
and Tennessee, so as to connect the cities of Louisville
and Nashville by railroad communication, be, and is
hereby granted to the Louisville and Nashville Railroad
Company, incorporated by the legislature of Kentucky
with all the rights, powers and privileges, and subject to
all the restrictions and liabilities set forth and prescribed
in a charter granted to said company by the legislature
of Kentucky, and approved March the 5th, 1850, and
the amendments thereto, passed by said legislature and
approved March the 20th, 1851, for the term of nine hun¬
dred and ninety-nine years, except as further provided in
this act.
where to be Sec. 2. That said company shall construct said railroad
built and how 1 • ,
ineans to be from the boundary line between said states, beginning at
said line, where it shall be intersected by that part of said
railroad which is to be within the state of Kentucky, to a
point within or convenient to the city of Nashville:
Provided,' That in the construction of said railroad, said
company shall commence at each end of the line at the
same time and continue the work from each end until
said railroad is completed : Provided, further, That said
company shall not be compelled to use the capital stock
subscribed and paid in by the citizens, companies, cor¬
porations, or counties in the state of Kentucky, in the
construction of that part of said railroad lying in the state
of Tennessee, until the part thereof lying in Kentucky is
completed.
when a right Sec. 3. That so soon as said company shall have com-
nes8besin bUB1" pleted five miles of said railroad from Nashville, they
shall commence and prosecute their business as provided
louisville and nashville railroad co.
57
in the 21st section of said charter; that the tariff of
charges for the transportation of passengers and for goods,
wares, merchandise, and other articles and commodities
shall be equal on all parts of said railroad in proportion
to distance, and that equal facilities for the transportation
of the same in either direction shall be furnished.
Sec. 4. That the stockholders in the state of Tennessee t stockholders
shall be entitled to be represented in said company bv edl)yTenneBeee
,. # r . . directors.
directors residing in Tennessee in proportion to their
stock, to be chosen by the stockholders of the company
in the manner and at the time the other directors are
chosen.
Sec. 5. That nothing in this act or in said charter or Parallel roads
amendments thereto shall be so construed as to prohibit Tennessee,
the legislature of Tennessee from passing any law author¬
izing the construction of said roads within this state,
parallel to, crossing, or to unite with said railroad from
Louisville to Nashville, and the state of Tennessee reserves
the right so to do.
Sec. 6. That the 20th section of said charter and the
4th section of the amendments thereto shall be void and
of no force or effect within this state.
Sec. 7. That the 23d, 24th, 25th, and 29th sections of
the act of the 11th December, 1845, incorporating the
Nashville and Chattanooga Railroad Company be and are
hereby made a part of the said charter of the Louisville
and Nashville Railroad Company, to be in force within
this state, and that this act shall take effect from and after
its passage.
SECTIONS 23, 24, 25 and 29th of the Nashville and Chattanooga Railroad
Company, forming part of the Act of Incorporation of the Eouisvllle and
Nashville Railroad in the state of Tennessee.
Sec. 23. That said company may purchase, have, and may hold
hold any bridge or turnpike road over which it may be p!kege or tnrn"
necessary to carry the said railroad ; and when such pur¬
chase is made, to hold the said bridge or turnpike road on
the same terms and with all rights which belong to the
individual, individuals, or corporation from which such
purchase may be made : Provided, That the said company
58
CHARTER OF THE
shall not obstruct any public road without constructing
another convenient as may be.
Kishtof way Sec. 24. Where any lands or rights of way may be
in Tenneseee. # J ° j *>
required by the said company for the purpose of construct¬
ing their road, and for want of agreement as to the value
thereof, or from any other cause, the same can not be pur¬
chased from the owner or owners, the same may be taken
at a valuation to be made by five commissioners or a
majority of three, to be appointed by the circuit court of
the county where some part of the land or right of way
is situated, and the said commissioners, before they act,
shall severally take an oath, before some justice of the
peace, faithfully and impartially to discharge the duties
assigned them. In making the said valuation, the com¬
missioners shall take into consideration the loss or damage
which may occur to the owner or owners in consequence
of the land being taken or the right of way surrendered,
and also the benefit and advantages he, she, or they may
receive from the erection or establishment of the railfoad
or works, and shall state particularly the nature and
amount of each, and the excess of loss and damage over
aud above the benefit and advantage shall form the
measure of valuation of the said land or right of way.
The proceedings of said commissioners, accompanied with
a full description of the said land or right of way, shall
be returned, under the hands and seal of a majority of
the commissioners to the court from which the commis¬
sion issued, there to remain of record. In case either
party to the proceedings shall appeal from the valuation
to the next session of the court granting the commission,
and give reasonable notice to the opposite party of such
appeal, the court shall order a new valuation to be made
by a jury, who shall be charged therewith in the same
term or as soon as practicable, and their verdict shall be
final and conclusive between the parties, unless a new trial
shall be granted ; and the lands or right of way so valued
by the commissioners or jury shall vest in said company
in fee simple so soon as the valuation may be paid, or
when refused, may be tendered. When there may be an
appeal, as aforesaid, from the valuation of commissioners
louisville and nashville railroad co.
59
by either of the parties, the same shall not prevent the
works intending to be constructed from proceeding; but
where the appeal is from the company requiring the
surrender, they shall be at liberty to proceed with their
work, only on condition of giving a bond, with good
security, to be approved of by the clerk of the court
where the valuation is returned, in a penalty equal to
double the said valuation, conditioned for the payment of
said valuation and interest, in case the same be sustained ;
and in case it be reversed, for the payment of a valuation
thereafter, to be made by the jury and confirmed by the
court : Provided, That where the land can not be had by
gift or purchase, the operations of the work are not to be
hindered or delayed during the pending of any proceeding
to assess its value, as aforesaid; nor shall any injunction
or supersedeas be awarded by any judge or court to delay
the progress of said work.
Sec. 25. In the absence of any contract with the said Rsgi't of way.
company in relation to lands through which the said road
may pass, signed by the owner thereof, or by his agent, or
any claimant, or person in possession thereof, which may be
confirmed by the owner, it shall be presumed that the
land upon which the said road may be constructed,
together with a space of one hundred feet on each side
of the center of said road, has been granted to the com¬
pany by the owner thereof, and the said company shall
have good right and title thereto, and shall have, hold,
and enjoy the same as long as the same be used only for
the purposes of the road, and no longer, unless the person
or persons owning the said land at the time that part
of the road which may be on said land was finished, or
those claiming under him, her, or them, shall apply for an
assessment for the value of the said lands, as hereinbefore
directed, within five years next after that part of said
road was finished. And in case the said owner or owners,
or those claiming under him, her, or them, shall not apply
for such assessment within five years next after the said
part was finished, he, she, or they shall be forever barred
from recovering the said land, or having an assessment
or compensation therefor: Provided, Nothing herein
60
charter of the
contained shall effect the right of femmes couverte, or
infants, until two years after the removal of their respec¬
tive disabilities.
charge for™tory- ®EC" comPany shall have the right to take,
age- at the store houses they may establish or annex to their
railroad, all goods, wares, merchandise, and produce
intended for transportation, prescribe the rules of priority,
and charge and receive such just and reasonable compen¬
sation for storage as they, by rules, may establish, (which
they shall cause to be published) or as may be affixed by
the owner, which may be distinct from the rates of trans¬
portation : Provided, That the said company shall not
charge or receive storage on goods, wares, merchandise,
or produce which may be delivered to them at their
regular depositories for immediate transportation, and
which the company may have the power of transporting
immediately.
AN ACT to Amend the Charter of the Louisville and Nashville Railroad
Company, passed the 4th of December, 1851.
May begin Sec. 1. Be it enacted by the General Assembly of the State
road at any , . -%
point. of Tennessee, That the first proviso to the second section
of an act, passed the 4th day of December, 1851, entitled,
"An act to incorporate the Louisville and Nashville Rail¬
road Company" be so amended, that said company shall
not be required to commence and prosecute the work upon
each end of the line of said road at the same time, but
may begin the work at any point upon said line which
they may think will best promote the interest of the
stockholders.
Sec. 2. That the proviso to the seventh section of said
act be and the same is hereby repealed.
Sec. 3. That the eighth section of said act be and the
same is hereby repealed.
Passed January 10, 1852.
AN ACT to extend the time for Receiving State Aid by the Louisville and
Nashville Railroad Company.
Time giveu to ®EC- h Be it enacted by the General Assembly of the State
t e rn a m m pro v e - °f Tennessee, That the additional time of eighteen months
ment act. from tpe passage 0f this act be and the same is hereby
louisville and nashville railroad co.
61
granted to the Louisville and Nashville Railroad Company
to comply with the provisions of an act entitled, "An act
to establish a system of internal improvements in this
state," passed February 11, 1852, and the amendments
thereto, under the conditions and restrictions in said act
specified : Provided, That the entire line of road, from
Nashville to Bowling Green, in Kentucky, shall, in like
manner, he completed and put in operation in three years
from the passage hereof.
Sec. 2. That said company is hereby required to extend To exteud tUe
said road to some point in the city of Nashville, and that ™ne 'by°bHdge"
for this purpose said company shall, within two years,
build and prepare for use, a good and substantial bridge
across the Cumberland river : Provided, The subscriptions,
state aid, or other means in the state of* Tennessee, shall
be sufficient for that purpose. That said company will,
within three months after an estimate shall have been
made of cost of said bridge, cause the same to be let to
contract, and proceed, if means appropriated or created
by amalgamation of the means of companies, or by sub¬
scriptions of stock by individuals or corporations, be
sufficient to the erection and construction of said bridge.
When the contract of construction has been made, a copy provision for
shall be filed in the office of the secretary of state, and it th"b'ridge''n8
shall then be the duty of the governor to execute to said
company the bonds of the state of Tennessee, under the
provisions of the act or acts authorizing the same, to an
amount, from time to time, not exceeding one hundred
thousand dollars, which may he necessary to meet the
estimates of work done on said bridge when the same shall
amount to a sum not less than twenty thousand dollars :
Provided, That the contract for construction shall not
extend the time for completion of said bridge beyond two
years. Two directors on the part of the state of Ten¬
nessee, on said company's accepting the provisions of this
act, shall forthwith be appointed, who shall, from the
time of their appointment in office, and at all meetings of
the board, represent stock to the amount of five hundred
thousand dollars and represent the interest of the state at
meetings of the stockholders ; and either may cast the
62
charter of the
vote of both, or in writing create a proxy to vote for the
state. To entitle said company to the provisions of this
act, said company shall, within sixty days after its ap¬
proval, consent hy a resolution of the board to accept the
same, and forward a copy of such acceptance to the
secretary of state, signed by the president and directors
composing the board, and countersigned by the secretary,
with the seal of the corporation affixed.
Sec. 3. That this act shall take effect and be in force
from and after its passage : Provided, That the lien of the
state of Tennessee shall not extend beyond the state line.
Passed November 27, 1855.
AN ACT of Tenneggec, passed December 15, 1857.
Whereas, The Louisville and Nashville Railroad Com¬
pany have expended ou forty-five and one-half miles in
the state of Tennessee, besides the bridge at Nashville
across the Cumberland river, the sum of $ , and the
work on the first thirty miles of said road has so far
progressed as to give satisfactory evidence that on the
10th day of January, 1858, there will not remain more
than fractional parts of three miles unfinished for track,
and those parts completed by the first day of March, 1858,
and said company have finished, ready for the iron rails, a
number of miles, though not consecutive, equal to thirty,
and have worked one tunnel through and another half
through ; therefore,
Sec. 2. Be it enacted by the General Assembly of the State
of Tennessee, That upon the report of the railroad com¬
missioner to the governor that the Louisville and
Nashville Railroad have graded and bridged, ready for
the track, thirty miles of road, though not consecutive,
and that said company have done work on that part of
the road beyond the thirty miles equal in value to five
times the amount of the work then to be done on the first
thirty miles, not counting work on any mile, above the
said first thirty, which has been calculated in the aforesaid
BoDdaofTen- thirty miles, then the governor shall issue, on demand of
1168806 tO b6 is* t t
sued. the president of said road, coupon bonds of the state of
Tennessee to the amount of ten thousand dollars per mile.
LOUISVILLE AND NASHVILLE RAILROAD CO.
63
Sec. 3. That the benefits and provisions of an act passed
February 11,1852, entitled, "An act to establish a system of
internal improvements in this state," and the acts amenda¬
tory thereto, be extended to the Louisville and Nashville
Railroad Company until the first day of June, 1858.
Sec. 4. That the said road is hereby allowed until the time given,
first day of June, 1859, to comply with the provisions of
said act of February 11, 1852, and the act amendatory
thereto, on that part of said road lying from the end of
the first thirty miles to the Kentucky line.
Sec. 5. That the board of directors of the Louisville Powcrtoelcct
and Nashville Railroad Company be, and they are hereby vlce-pr(,8ident-
vested with the power to elect one or more vice-presi¬
dents, one of whom shall reside in the state of Tennessee,
who, together with the directors residing in the state of
Tennessee, may be constituted a local board, and to whose
management may be submitted the construction of that
part of the road which lies in the state of Tennessee,
subject to the control of the president and directors of the
Louisville and Nashville Railroad Company, and exercise
such other and further power as the board may from time
to time confer. The board of directors of the Louisville
and Nashville Railroad Company shall prescribe the duties
and define the powers of the vice-president. The board
of directors of the Louisville and Nashville Railroad
Company shall have powrer to fix the salary of the vice-
president in Tennessee, and the vice-president in Tennessee
may be elected from or outside the local board.
Sec. 6. That the iron for said two roads shall be shipped
to the order of the railroad commissioner, who shall
deliver it to them as above provided for.
Sec. 7. That this act shall take effect from and after its
passage.
Passed December 15, 1867.
AN ACT to Amend the Charter and geveral acts amendatory thereto, passed
by the Legislatures of Tennessee and Kentucky, incorporating a com¬
pany to construct a railroad from the city of Louisville to the city of
Nashville.
Sec. 1. Be it enacted by the General Assembly of the State
of Tennessee, That the several acts of the general assem-
64
charter of the
bly of the states of Tennessee and Kentucky, be, and are
hereby amended by the additional sections.
in com i bonds Sec. 2. That the Louisville and Nashville Railroad Corn-
may e .ssne . pany jg perepy authorized to issue, from time to time,
income bonds, pledging the receipts of said road, in
amount not to exceed one million five hundred thousand
dollars in the aggregate. Said bonds to be made payable
at such time and place as the president and directors of
said company may direct, and hear a rate of interest not
exceeding eight per cent, per annum, with interest cou¬
pons attached ; they shall bear the signature of the
president, and be countersigned by the secretary, the
coupons to he signed by the secretary, the seal of
the corporation to be affixed: Provided, however, Said
bonds, nor any mortgage made to secure them, shall be
enforced in the state of Tennessee at a higher rate of
interest than six per cent, per annum, unless at the time
of enforcement the laws of Tennessee allow a higher rate;
then for such rate as allowed by law, but may be enforced
in Kentucky. The bonds hereby authorized to contain
on their face a pledge of the income of said company
from the main road, after the payment of charges for
running and the necessary repairs, they or the proceeds
of sales shall be used in the purchase of iron, chairs,
spikes, cross-ties, the laying of track and equipment for
business, and for the purpose of construction as herein¬
after prescribed on the main road, and no other. It shall
be deemed malfeasance in office in such members of the
board as shall authorize any other use, and any stock¬
holder or bondholder shall have the right to arrest by
petition or affidavit such improper application. The
bonds hereby authorized shall not be held to be cumu¬
lative, but as a part of the sum authorized under an act
which passed the legislatures of Tennessee and Kentucky
at their sessions of 1855.
May execute Sec. 3. That the bonds hereby authorized to be issued
shall be made payable to the bearer, and pass by delivery;
and to secure the prompt payment of the interest and
principal, said company, by their president, may make
and execute a mortgage to two trustees, to be named
louisville and nashville railroad co.
65
therein, for the benefit of the holders of said bonds, and
provide for a succession of trustees in case of death,
removal, or refusal to act. It shall to all intents and
purposes pass the property recited, and privileges and fran¬
chises to the trustees, for the use of the holders of bonds,
herein provided to be issued, and such others as it purports
to secure, together with the earnings of said road, after
the payment of the expenses of running and repairs.
This act shall not be construed to affect, nor shall any
mortgage executed by its provisions impair, or in any
way affect, change, or weaken the lien of Tennessee on
that part lying within that state, created by the statutes
of the state on the conferring and accepting state aid by
said company. But it shall be the duty of the president
and trustees to make a faithful application of the earnings
of said road to pay the interest, as the same falls due, on
the bonds of the state received by said company.
Sec. 4. That it shall be the duty of the president and sinking fund,
directors of said company to cause to be set apart and
held sacred as a sinking fund, such per cent, of the earn¬
ings of said road, after paying charges for running, repairs,
and incidental expenses in the operations of said road, a
per cent, equal to the payment of interest on the bonds,
and be sufficient to redeem each class of bonds as they
respectively fall due ; the setting apart of such fund shall,
however, in no event have preference over the rights of
the state, as given by former legislation in reference to the
income of said road. When any of said bonds shall fall
due, said company may make proclamation through one
or more of the newspapers published in the cities of Lou¬
isville, Nashville and Bowling Green, of its readiness to
pay on a day, and at the place of payment, and if the
bonds so advertised and designated are not presented for
payment, the interest shall cease from that time until pre¬
sented and payment refused.
Sec. 5. If said company shall fail to make payment-of
the interest as the same shall fall due, the holders of said
bonds may proceed by petition, filed on affidavit, in the
chancery court, in the city of Louisville, Nashville, or
Bowling Green, after notice to the president; and on
66
CHARTER OF THE
hearing, the court shall make such order or decree in the
premises as may be deemed necessary and sufficient to
enforce and secure the performance of the trust, which
order shall be for the benefit of the bondholders to whom
said company may be in default. That the holders of
bonds due and unpaid, with accumulated interest in the
aggregate amount of fifty thousand dollars, shall have the
right to file their bill or petition, and ask a foreclosure
of mortgage"™ auc^ 8a^e mortgaged property. Upon the filing of
such proceeding, it shall be the duty of the president to
cause a perfect list of all bonds secured by said mortgage,
and place them on file in said suit; when it shall be the
duty of the court to make publication of the fact of the
filing of said bill, in papers published in New York, Lou¬
isville, and Nashville, ninety days by successive weekly
insertions, before rendering a decree, and on hearing, such
decree shall be rendered, as will be equitable among all
the holders of the bonds on sale or purchase, or order of
lease, the person or persons, corporation or corporations,
that may become the owners or lessees under such decree
or order, shall and are hereby declared to be substituted
to, and vested with, all the rights, privileges, franchises
and immunities of said corporation, in the property sold
or leased, as well that part in Tennessee as in Kentucky,
but the right in Tennessee shall only attach and be con¬
tinuous on the payment, at the proper time and place, the
interest on the bonds of the state of Tennessee, received
by said company, the sinking fund, and the bonds them¬
selves as they fall due. That the holders of the bonds
issued under this or any other act authorizing the issuance
of bonds, shall at their option, have the right, at any time,
to convert said bonds into the stock of the company at
dollar for dollar. The company is vested with the power,
by the consent of the holders of the bonds, to agree on
terms by which the stock of the company may be issued
to bondholders in payment thereof. That the issue of the
bonds herein authorized, shall be conclusive evidence of
the acceptance of the company of this as an amendment
of their charter, and as evidence that all the requirements
of the act have been complied with.
louisville and nashville railroad co.
67
Sec. 6. That, whereas, the funds necessary for ironing
and equipping the line of the Louisville and Nashville
Railroad, in the state of Tennessee, are furnished by the
state aid heretofore granted and accepted by said com¬
pany ; and, whereas, it is but just and right that the line
of the road in Tennessee shall receive its fair proportion
of the proceeds of the income bonds raised by virtue of
this act; the authority hereby conferred is subject to this
provision, that so much at least of the proceeds of said
income bonds shall be applied to the construction of the
road-bed and cross-ties in the state of Tennessee, as will
give the line of the road in fair proportion as above, if the
same should be needed to prepare such for the iron.
Sec. 7. That to carry out the preceding section, that p^eds of
the amount so appropriated to the line of the road in this pu"d8'ho,v
state, shall be in proportion to the entire amount at any
one time raised by said income bonds, as the length of
the line of the road in Tennessee is to the length of the
entire road. That it shall be deemed malfeasance in office,
as provided in section second of this act, in such members
of the board of directors of the Louisville and Nashville
Railroad Company as shall authorize any use of the
proceeds of such bonds inconsistent with the foregoing
provisions.
Sec. 8. That the time for the construction of the bridge T|me t0 buiid
across the Cumberland river, as specified in the act of the road eïten,Jed-
general assembly, passed the 15th December, 1855, be
extended to the Louisville and Nashville Railroad Com¬
pany for twelve months, from and after the passage of
this act ; and that said company is hereby vested with the higin to coo-
right to contract with the general government for the g™0.' for trans'?
transportation of the mails, and is hereby declared capable maue.bt
in law to receive and hold any grant or appropriation
made by Congress as compensation for public service.
Sec. 9. That the power to acquire land for railway track depot grounds
... , ... . etc-> i" nneli-
and necessary side tracks, and the requisite quantity tor *"'<>•
depot, freight and passenger houses, within the corporate
limits of the city of Nashville, which by law are conferred
on the Nashville and Chattanooga Railroad Company, be
and is hereby vested in the Louisville and Nashville Rail-
68
charter of the
to execution.
road Company, and the Edgfield and Kentucky Railroad
Company, and may be enforced by said companies, jointly
or separately for their joint or several use.
No banking Sec. 10. That nothing in this act shall be so construed
as to give banking privileges to the company of any
character whatever, or so as to increase the liability of the
state to said company. That this act take effect from and
after its passage.
when Tennee- Sec. 12. That so soon as the Louisville and Nashville
issued. Railroad Company shall have graded their said road from
the termination of the first thirty miles from Nashville to
the Kentucky line, prepared to receive the iron rails, then
the governor of the state shall issue the bonds of the state
to said company, agreeably to the act of 1852, and acts
amendatory thereto,
stock iiabie Sec. 14. That it shall be lawful for any sheriff, coroner,
or constable to levy upon and sell, as other personal prop¬
erty, any share or shares in any railroad or turnpike
company in this state, belonging to any execution, debtor
or corporation, against whom they hold an execution.
how to pro- ®EC- 15. That the officer making the levy, shall, at the
ceed to sell. time of such levy, or as soon thereafter as practicable,
notify the secretary or other officer entrusted with the
books of the turnpike or railroad company of the fact of
such levy; the notice to be given personally or in writing,
left at the office of the secretary, or other officer aforesaid.
Purchaser to Sec. 16. That upon the sale of such turnpike or railroad
from The com' stocks in shares, by execution, the officer, on receiving
from the purchaser the amount of his bid, shall execute
and deliver to him a certificate of the shares sold, and his
return of the sale, on the back of the execution, shall be
notice to all the world of the fact of sale; and on pre¬
senting to the proper officer of the company said certifi¬
cate, said officer shall transfer said shares on the proper
books to the purchaser or his assigns.
Passed March 20, 1858.
louisville and nashville railroad co.
69
AN ACT to incorporate the Gay Street Railroad Company of the City of
Knoxville, and for other purposes.
Sec. 9. That the third section of an act, entitled an act Di9crimiDa.
to incorporate the Louisville and Nashville Railroad Com- tt°r"ffres1 g■ ti
pany, passed 4th December, 1851, shall be so amended as J Hd.118"8
to authorize the tariff of charges for freights and passen¬
gers, to be less on through business, and through business
coming from other railroads and transportation lines, than
on freight and passengers to intermediate points between
Louisville aud Nashville: Provided, That the tariff rates
to and from intermediate points between Louisville and
Nashville shall be equal and pro rata in proportion to
mileage whether going north or south.
AN ACT to establish a system of Internal Improvements in this State.
Sec. 1. Be it enacted by the General Assembly of the State condition.
J J ^ upon which
of Tennessee, That whenever the East Tennessee and Vir- stap bond, a™
J " to be issued to
ginia Railroad Company shall have procured bona fide c°mPany-
subscriptions for the capital stock in said company to an
amount sufficient to grade, bridge, and prepare for the
iron rails the whole extent of the main trunk line proposed
to be constructed by said company, and it shall be shown
by said company to the governor of the state that said
subscriptions are good and solvent, and whenever said
company shall have graded, bridged, and shall have ready
to put down the necessary timbers for the reception -of
rails, and fully prepared a section of thirty miles of said
road at either terminus, in a good and substantial manner,
with good materials, for putting on the iron rails and
equipments, and the governor shall be notified of these
facts, and that said section, or any part thereof, is not
subject to any lien whatever, other than those created in
favor of the state by the acts of 1851-2, by the written
affidavit of the chief engineers and president of said com¬
pany, together with the written affidavit of a competent
engineer, by him appointed, at the cost of the company, to
examine said section, then said governor shall issue to
said company coupon bonds of the state of Tennessee to
an amount not exceeding eight thousand dollars per mile
on said section, and on no other condition, which bonds
shall be payable at such place in the United States as the
70
charter of the
president of the company may designate, bearing an
interest of six per centum per annum, payable semi¬
annually, and not having more than forty nor less than
thirty years to mature.
art. f0°bc-u«d.d8 Sec. 2. That the bonds before specified shall not be used
by said company for any other purpose than for procuring
the iron rails, chairs, spikes, and equipments for said
section of said road and for putting down said iron rails,
and the governor shall not issue the same unless upon the
affidavit of said president and a resolution of a majority
of the board of directors for the time being, that said
bonds shall not be used for any other purpose than for
procuring the said iron rails, chairs, spikes, and equip¬
ments for said section, and for putting down said iron
rails, and the governor shall have power to appoint a
commissioner to act under oath in conjunction with said
president in negotiating said bonds for the purposes afore¬
said, and to act in any other matters pertaining to said
company where the interest of the state, in the opinion of
the governor, may require it.
bonds to be a Sec. 3. That so soon as the bonds of the state shall have
been issued for the first section of the road as aforesaid,
they shall constitute a lien upon said section so prepared
as aforesaid, including the road-bed, right of way, grading,
bridges, and masonry, upon all the stock subscribed for in
said company, and upon said iron rails, chairs, spikes and
equipments, when purchased and delivered, and the state
of Tennessee, upon the issuance of said bonds and by virtue
of the same, shall be invested with said lien or mortgage
without a deed from the company for the payment by said
company of said bonds, with the interest thereon as the
same becomes due.
boods for ad- Sec. 4. That when said company shall have prepared as
tion°8nii 8ec" aforesaid a second section, or any additional number of
sections of twenty miles each of said road, connecting
with a section already completed for the iron rails, chairs,
spikes, and equipments, as provided in the first section-of
this act, and the governor shall be notified of the facts as
before provided, he shall in like manner issue to said
company like bonds of the state of Tennessee to an equal
louisville and nashville railroad co.
71
amount with that before issued under the first section of
this act, for each and every section of twenty miles of said
road so prepared as aforesaid, but upon the terms and
conditions herein before provided, and upon the issuance
of the said bonds the state of Tennessee shall be invested
with a like mortgage or lien without a deed from said L)en of the
company upon said stock and upon said first and ad- enure9roadP»°nd
ditional section or sections of said road so prepared, upon Completion7 °n
the rails and equipments put or to be put upon the same
for the payment of said bonds and the accruing interest
thereon : Provided, That if the last section of said road
shall be less than twenty miles, or if the railroad proposed
to be constructed by any company hereinafter specified
shall be less than thirty miles in extent, bonds of the state
shall be issued for such sectiou or such railroad as may be
less than thirty miles in extent for an amount in pro¬
portion to the distance as provided in this act, but upon
the same terms and conditions, in all respects, as required
in regard to the bonds to be issued for other sections of
said road ; and when the whole of said road shall be com¬
pleted the state of Tennessee shall be invested with a lien,
without a deed from the company, upon the entire road,
including the stock, right of way, grading, bridges,
masonry, iron rails, spikes, chairs, and the whole super¬
structure and equipments, and all the property owned by
the company as incident to or necessary for its business,
and all depots and depot stations, for the payment of all
of said bonds issued to the company as provided in this
act, and for the interest accruing on said bonds ; and after
the governor shall have issued bonds for the first section
of the road it shall not be lawful for said company to give,
create or convey to any person or persons, or body
corporate whatever, any lien, incumbrance, or mortgage of
any kind which shall have priority over or come in conflict
with the lien of the state herein secured ; and any such
lien, incumbrance, or mortgage shall be null and void as
against said lien or mortgage of the state ; and the said
lien or mortgage of the state shall have priority over all
other claims existing or to exist against said company.
Sec. 5. That it shall be the duty of said company to
72
CHARTER OF THE
company to deposit in the Bank of Tennessee, at Nashville, at least
pay Interest on ^ 77
i,onis. fifteen days before the interest becomes due, from time to
time, upon said bonds issued as aforesaid, an amount
sufficient to pay such interest, including exchange and the
necessary commission, or satisfactory evidence that said
interest has been paid or provided for, and if said company
fail to deposit said interest as aforesaid, or furnish the
evidence aforesaid, it shall be the duty of the comptroller
to report that fact to the governor, and the governor shall
immediately appoint some suitable person or persons, at
upon failure the expense of the company, to take possession and control
receiver ap- r A ^ 7 A
pointed. 0f railroad, and all the assets thereof, and manage the
same and receive the rents, issues, profits and dividends
thereof, whose duty it shall be to give bond and security
to the state of Tennessee, in such penalty as the governor
may require, for the faithful discharge of his or their duty
as receiver or receivers, to receive said rents, issues, profits
and dividends, and pay over the same under the direction
of the governor toward the liquidation of such unpaid
interest. And if said company fail or refuse to deliv# up
said road to the person or persons so appointed by the
governor, the said person so appointed shall report that
fact to the governor, who shall forthwith issue his warrant,
directed to the sheriffs of the counties through which said
road shall run, commanding them to take possession of
said road, fixtures and equipments, and everything per¬
taining thereto, and place the said receiver in full and
complete possession of the same ; and said receiver so
appointed shall continue in possession of said road,
fixtures and equipments, and run the same and manage
the entire road until a sufficient sum shall be realized,
exclusive of the costs and expenses, incident to said pro¬
ceedings, to pay off and discharge the interest as aforesaid,
due on said bonds, which being done the receiver shall
surrender said road and fixtures and equipments to said
comptroller company. The comptroller shall from time to time settle
to settle ftcc'ts , • i i
with receiver, the accounts with the receiver and the balance shall be
deposited in the treasury of this state. The comptroller
is authorized, and it is made his duty, upon his warrant to
draw from the treasury any sum of money necessary to
louisville and nashville railroad co.
73
meet the interest on such bonds as may not be provided
for by the company, as provided for in this act, and the
comptroller shall report thereof to the general assembly
from time to time.
Sec. 6. That if said company shall fail or refuse to pay failure tu pay
r ^ — bonds at ma-
any of said bonds when they fall due, it shall be the duty bi111"ob,e
" •> ' J filed to sell road.
of the governor to notify the attorney general of the
district in which is situated the place of business of said
company of the fact, and thereupon said attorney general
shall forthwith file a bill against said company in the name
of the state of Tennessee, in the chancery or circuit court
of the county in which is situated said place of business,
setting forth the facts, and thereupon said court shall
make all such orders and decrees in said cause as may be
deemed necessary by the court to receive the payment of
said bonds, with the interest thereon, and to indemnify the
state of Tennessee against any loss on account of the
issuance of said bonds, by ordering the said railroad to be
placed in the hands of a receiver, ordering the sale of said
roa?t, and all the property and assets attached thereto or
belonging to said company, or in such other manner as
the court may deem best for the interest of the state.
Sec. 7. That at the end of five years after the completion
of said road said company shall set apart one per centum
per annum upon the amount of bonds issued to the com¬
pany, and shall use the same in the purchase of bonds of
the state of Tennessee, which bonds the company shall
pay into the treasury of the state after assigning them to
the governor, and for which the governor shall give said
company a receipt, and as between the state and said
company the bonds so paid in shall be a credit on the
bonds issued to the company. And bonds so paid in, and
the interest accruing thereon from time to time, shall be
held and used by the state as a sinking fund for the pay¬
ment of the bonds issued to the company, and should said slnking fuml
company repurchase any of the bonds issued to it under
the provisions of this act, they shall be a credit as aforesaid
and canceled. And should said company fail to comply
with the provisions of this section, it shall be proceeded
against as provided in the fifth section of this act.
74
charter of the
semi-annual Sec. 8. That the president of the company shall make
dentrtun°tiiProad semi-annual reports, under oath, to the governor, until
the completion of said road, setting forth fully the
condition of the road and the company, and after its
completion he shall report to the governor annually,
showing the financial condition of the company, giving
a statement of the trade and travel upon the road, the
receipts and expenditures, net earnings and dividends,
and what per cent, is paid on the stock to the stockholders.
And said reports shall be consolidated every two years
after the completion of the road, and the governor shall
lay said report before the legislature for its action at the
next meeting thereof after said report is made,
officers of com- Sec. 9. That it shall not be lawful for any officer of said
pany prohibited # -it •
from spéculât- company to engage in any speculation or dealing, either
ing in property r j oo J r o ?
on une of road, directly or indirectly, in any real estate on or along the line,
at any of the depots or depot stations, or at either terminus
of said road, until after the road is completed, and every
officer of the company, before entering upon the duties of
his office, shall take an oath in writing before any jffdge
or justice of the peace in this state that he will not
knowingly violate the provisions of this act, and that he
will faithfully perform the duties of his office, and if any
such officer of the company, or other person taking an
oath as herein provided, knowingly swear falsely, he shall
be deemed guilty of perjury and subject to all the pains
and penalties thereof, and every affidavit required under
this act may be sworn to before any judge or justice of
the peace in this state.
Provisions of Sec. 10. That the provisions of this act shall extend to
certain conipu- and embrace the Chattanooga, Harrison, Georgetown, and
Charlestown Railroad Company, the Nashville and North¬
western Railroad Company, the Louisville and Nashville
Railroad Company, the Southwestern Railroad Company,
the McMinnville and Manchester Railroad Company, the
Memphis and Charleston Railroad Company, the Nash¬
ville and Southern Railroad Company, the Mobile and
Ohio Railroad Company, the Nashville and Memphis
Railroad Company, the Nashville and Cincinnati Railroad
Company, the East Tennessee and Georgia Railroad Com-
LOUISVILLE AND NASHVILLE RAILROAD CO.
75
pany, the Memphis, Clarksville and Louisville Railroad
Company, and the Winchester and Alabama Railroad
Company, so far as the main trunk roads to be constructed
by said companies lie within the limits of this state, and
not otherwise; and said companies shall have all the
powers and privileges, and be subject to all the restrictions
and liabilities contained in this act : Provided, That this
act shall not extend to or embrace more of the road
proposed to be built by the Memphis, Clarksville and
Louisville Railroad Company than that part which lies
between the Kentucky line and the Nashville and North¬
western Railroad or the Nashville and Memphis Railroad.
And provided, f urther, That this act shall not extend to or
embrace the East Tennessee and Georgia Railroad Com¬
pany, unless said company shall extend their road so as to
form a junction with the East Tennessee and Virginia
Railroad at Knoxville : and in the event said company
fail or refuse so to extend their said railroad to make said
junction, then all the rights, powers and privileges, with
the restrictions and liabilities of this act, shall extend
to any company that may be hereafter chartered for the
purpose of building a railroad to make said connection ;
and in no event shall the provisions of this act extend to
or embrace more of the East Tennessee and Georgia Rail¬
road than that part which lies between Blair's Ferry and
the city of Knoxville. And provided, That any lien now
existing on the East Tennessee and Georgia Railroad shall
not prevent the issuance of bonds for its benefit as herein
provided, but the affidavits required in the first section of
this act shall be deemed sufficient as applicable to said
company, if it is stated in said affidavits that no lien has
been created on said road since the passage of this act.
Sec. 11. That the guage of all of said railroads (unless Guage of roads,
connecting with roads in other states of a different guage)
shall be the same as that of the Nashville and Chatta¬
nooga Railroad, and not otherwise—and the iron rails to
be put upon said road shall not be lees than eighty tons raWeisht of
to the mile, if the U rail is used, and not less than one
hundred tons to the mile, if the T rail is used.
76
charter of the
tect^Tnterest'of SEC- That the state of Tennessee expressly reserves
further^egisia^ fhe right to enact by the legislature thereof, hereafter, all
such laws as may be deemed necessary to protect the inter¬
est of the state, and to secure the state against any loss,
in consequence of the issuance of bonds, under the pro¬
visions of this act. But in such manner as not to impair
the vested rights of the stockholders of the companies.
Penalty for Sec. 13. That it shall be the duty of the governor, from
obtaining bonds # .
fraudulently, time to time, when there shall be reliable information
given to him, that any railroad company shall have fraud¬
ulently obtained the issuance of the bonds of the state, or
shall have obtained any of said bonds contrary to the pro¬
visions of this act, he shall notify the attorney general of
this state, whose duty it shall be forthwith to institute in
the name of the state, a suit in the circuit or chancery
court of the county of the place of business of the com¬
pany, setting forth the facts, and when the fact shall
satisfactorily appear to the court that any of said bonds
shall have been fraudulently obtained, or obtained con¬
trary to the true intent, meaning, and provisions of this
act, then and in such case the court shall order, adjudge,
and decree that said road lying in the state, with all the
property and assets of said company, or a sufficiency
thereof, shall be sold, and the proceeds shall be paid into
the treasury, and it shall be the duty of the comptroller
immediately to vest the same in stocks, creating a sinking
fund, as provided for in the 7th section of this act. And
said company shall forfeit all rights and privileges under
iiaueCkholders provisions of this act. And the stockholders thereof
shall be individually liable for the payment of the bonds
so fraudulently obtained by such company, and for all
other losses that may fall upon the state, in consequence
of the commission of any other fraud by such company,
excepting such stockholders as may show to the said court
that they were ignorant of or opposed the perpetration of
such frauds by the company,
roads°8tate mTy ^EC- That in the event any of the roads, fixtures, or
itl8yinteropsrtotect property belonging to any of said roads, shall be sold under
the provisions of this act, it shall be the duty of the gov¬
ernor to appoint an agent for the state, who shall attend
louisville and nashville railroad co.
77
said sale and protect the interest of the state, and shall, if
necessary to protect said interest, buy in said road or prop¬
erty, in the name of the state, and in case said agent shall
purchase said road for the state, the governor shall appoint
a receiver, who shall take possession of said road and
property, and use the same as provided for in the 5th sec¬
tion of this act, and said receiver shall settle with the
comptroller semi-annually, until the next meeting of the
general assembly.
Sec. 15. That this act shall be deemed and taken a public act.
to be a public act as to all purposes of notice : Pro¬
vided, That should any of the companies hereinbefore
enumerated, have bona fide, and before the passage of this
act, purchased or otherwise contracted for, upon their own
credit, the necessary iron, rails, spikes, equipments, etc.*
for their road or roads, or any section or sections thereof,
the bonds of the state shall be issued to said company or
companies, as hereinbefore prescribed : Provided, further,
That no company shall receive more than the amount per
mile, hereinbefore prescribed : And provided, That the
provisions of this act shall only extend to one of the lines
of railroad proposed to be constructed by the Nashville
and Northwestern Railroad Company, and the Nashville
and Memphis Railroad Company, between Nashville and
Teunessee river, and the company first obtaining bona fide
subscriptions, as provided in the first section of this act,
made known to the governor as therein prescribed, shall
be entitled to the provisions of this act for the whole dis¬
tance from Nashville to its terminus on the Mississippi
river, and may cross the Tennessee river at any point
between Ross' Ferry and a point one mile below White
Oak Island. And the other company shall have power to
connect their road with the one thus entitling itself to the
provisions of this act for its whole distance, at any point
they may select, and shall only be entitled to the pro¬
visions of this act from the point of connection to its
terminus on the Mississippi river : Provided, also, That if Louisviiie and
the Louisville and Nashville Railroad Company locate company,
their road through Sumner county, by way of Gallatin,
then the provisions of this act shall not extend to or
78
CHARTER OF THE
embrace the Nashville and Cincinnati Railroad Company,
and the charter granted to the last named company shall,
in that event, be void. But should said road not be so
located, and both companies desire to run their roads to
Nashville, then the provisions of this act shall extend to
the company first obtaining bona fide subscriptions, as
provided in the first section of this act, made known to
the governor as therein prescribed, and the other company
shall unite their road to the one so provided for, at some
suitable point, at least ten miles north of Nashville, and
the provisions of this act shall extend to said road only
from the point of connection to the Kentucky state line :
Provided, further, That the bonds of the state shall not
issue to the Louisville and Nashville Railroad Company,
or to the Nashville Railroad Company, or to the Nashville
and Cincinnati Railroad Company, as provided in this act,
unless one of said companies shall agree to locate and
extend its road across Cumberland river, at or convenient
to Nashville, or South Nashville, within ten years from
the date of the passage of this act.
to c«fssor unite Sec. 16. That the railroad companies specified in this
with each other ac^ an(j 0ther railroad companies hereafter incor¬
porated in this state, shall have power to construct their
roads so as to cross each other if necessary, by the main
trunks or branches, or to unite with each other, or with
the branches thereof, and it shall be the duty of said
companies, when required, to receive on their roads and
branches, the full loaded freight cars from each other and
the branches thereof, and transport the same to their des¬
tination, and return them without charging for transpor¬
tation of the goods, wares, merchandise, and produce
therein, any greater rate of freight than they charge for
similar goods, wares, merchandise, and produce in their
Dnty to re- own cars : Provided, That said companies shall not be
ceive freight .
?oadBfrom other comPe"e<i to receive such cars on their road, unless they
are constructed with- the same guage, and are of equal
strength with their own cars, of which the principal engi¬
neer on the road of which it is proposed to require said
cars to be transported shall be the judge: Provided, That
the bonds of the state proposed to be issued to the
louisville and nashville railkoad co.
79
Memphis and Charleston Railroad Company under the
provisions of this act, shall, in the event of their issuance
to said company, be divided between the main trunk line,
proposed to be constructed by said company, and the
branch thereof, from the town of Moscow to the town of
Summerville, in the county of Fayette, according to the
respective lengths of said main trunk line and said branch,
until said bonds and interest are paid, as heretofore pro¬
vided.
Sec. 17. That in all cases where bonds may he issued to or®tate dlrect-
any of said companies as provided in this act, the state of
Tennessee shall be entitled to two directors in each com¬
pany, to be appointed by the governor of the state, to
which bonds may be issued.
Sec. 18. That when the Nashville and Chattanooga Nashviiie and
. ° Chattanooga B.
Railroad Company shall have completed twenty-five miles »•
of their road, in addition to the eighty miles specified in
the second section of the act, passed 4th of February,
1848, chapter 169, then the governor of the state shall
indorse and guarantee, in the name and on behalf of the
state of Tennessee, the bonds of said company to the
amount of one hundred and seventy-five thousand dollars,
and in like manner, when another section of twenty-five
miles of said road shall have been completed, the gov¬
ernor of the state, in the name and on behalf of the state,
shall indorse and guarantee the bonds of said company
to the additional amount of one hundred and seventy-fiv
thousand dollars, and said bonds are to be endorsed and
guaranteed in the same manner, and the same indemnity
is to be furnished by said company for the protection of
the state, and the like lien to be given, and the same char¬
acter of bonds are to be indorsed and guaranteed, as
provided in said act of the 4th of February, 1848.
Sec. 19. That the aid contemplated by the first section
of this act, shall only be extended to one of the roads
chartered under the names of the Nashville and Southern
Railroad Company, and the Tennessee and Alabama Rail¬
road Company : Provided, That the first one of said roads
which shall secure the subscription of the capital stock,
for the construction of the same, shall be entitled to such
80
CHARTER OF THE
aid: Provided, further, That if the Nashville and Southern
Railroad Company first obtain the stock in their railroad,
as provided in the first section of this act, and shall con¬
struct their road to the Tennessee river, to the Mississippi
state line, or to a point between the Tennessee river and
the Mississippi state line, then the Tennessee and Alabama
Railroad Company may construct their road from the
Alabama state line to intersect with the Nashville and
Southern Railroad, at such point as said company may
select, and the provisions of this act shall extend to the
andViabamab! Tennessee and Alabama Railroad from the Alabama state
r. company. jj[ie £0 p0jnt 0f its intersection. But if the Ten¬
nessee and Alabama Railroad Company first obtain the
stock in their railroad, as provided in the first section of
this act, and construct their road to the Alabama line in
the direction of Florence, then the Nashville and Southern
Railroad Company may construct their railroad from the
Tennessee river, the Mississippi state line, or any point
between the Tennessee river and Mississippi state line, so
as to intersect the Tennessee and Alabama railroad, at
such point as the company may select, and the provisions
of this act shall extend to said railroad from said point of
intersection, to the Tennessee river, the Mississippi state
line, or to any point between the Tennessee river and the
Mississippi state line. And the Nashville and Southern
Railroad Company, and the Tennessee and Alabama Rail¬
road Company, shall have power to unite or consolidate
their stock if they deem it advisable, and upon such terms
as the companies may agree upon : Provided also, That if
the Memphis and Nashville Railroad Company shall not
comply with the requirements of this act, and complete
thirty miles of their road within four years; or if the
Nashville and Northwestern Railroad Company shall, in
like manner, fail to complete thirty miles of their road
within four years, then the Tennessee Central Railroad
Company shall have all the rights, powers, privileges,
and benefits, intended to be given by this act, to those
companies respectively, under the same restrictions and
limitations, but the said Tennessee Central Railroad Com¬
pany shall be allowed two years longer time, in which to
louisville and nashville railroad co.
prepare thirty miles of their road-bed for the reception of
the iron rails, and may then receive the aid of the state,
and in the issuance of bonds for their benefit, as prescribed
in this act: Provided, That this provision shall not pre¬
clude any subsequent legislature from extending the time
of four years, in which to complete any section of thirty
miles of said Nashville and Memphis, or Nashville and
Northwestern Railroad. That each of said companies is
hereby authorized and required to appoint an agent or
agents to whom the bonds shall be delivered, and whose
duty it shall be to control said bonds, and see that the}*
are exclusively applied to the payment of railroad iron
and equipments, as provided for in this act, and for no
other purposes whatever. And the said agent, before he
receives the bonds of the state, shall give bond and secu¬
rity, to be approved by the governor and payable to the
state of Tennessee, for the application of the bonds or the
proceeds thereof, to the purposes aforesaid : Provided, That
before any bonds, under the provisions of this act, shall
be issued to any agent of any railroad, contemplated by
this act, the president of any such company shall first
deposit in the office of the secretary of state, a full, true,
and accurate list of all the stockholders, with the sums
subscribed by each and every stockholder.
Sec. 20. That no road embraced in this act, shall be
entitled to state aid, unless it shall, within four years com¬
plete at least one section of thirty miles, or the whole
length of the road, if less than thirty miles long.
Passed February 11, 1852.
82
charter of the
GENERAL ACTS OF KENTUCKY.
Extract from Act to Incorporate Louisville Bridge Company.
n. r. co. may Sec. 6. Any rail road company incorporated by the com-
stockrlwhen monwealth of Kentucky may lawfully subscribe to the
"ockhoîders. 3 stock or make the guarantees and agreements authorized
by the preceding sections of this act, when authorized by
the stockholders at some general meeting.
Approved February 19, 1862.
AN ACT Concerning Railroad Tax Receipts.
Railroad tax Sec. 1. Be it enacted by the General Assembly of the
duplicate™83' Commonwealth of Kentucky, That the owners of railroad
tax receipts, and those holding such railroad receipts as
administrators, executors, or guardians, when such re¬
ceipts have been lost, mislaid, or in any way mutilated or
destroyed, may obtain duplicates of the same by first
executing bond in the county court to indemnify the said
county court or the railroad company for any damages
that may be sustained by said county court or railroad
company by reason of the wrongful or fraudulent issuance
of said tax receipts.
Clerk county Sec. 2. That the clerk of the county court is hereby
authorized to deliver to the owners, or to any adminis¬
trator, executor, or guardian of such owners, any railroad
tax receipts that are or may be filed in settlements in his
office, taking receipts for the same from those to whom
the receipts are delivered.
Administra- Sec. 3. That administrators, executors, or guardians
«."recopts"83 having in their possession, in their fiduciary capacity, any
railroad tax receipts, may convert said receipts into rail¬
road stock, or, when that is not practicable, may sell the
same at a price not less than eighty-five cents on each
dollar of said receipts.
Sec. 4. This act to take effect from its passage.
Approved January 27, 1865.
louisville and nashville railroad co.
83
AN ACT Prescribing the Mode of Settlement of the Stock Account of the
Counties of Logan, Simpson, Warren, Hart, and Hardin with the Louis¬
ville and Nashville Kallroad Company.
Sec. 1. That it shall and may he lawful for the Louis- rower given
-in to company and
ville and Nashville Railroad Company, and the county nties, or
r J ? J sinking fund
courts of Logan county, Simpson county, Warren county,
Hart county, and Hardin county, or the sinking fund
commissioners of said counties respectively, to settle and 9totk'
adjust all accounts and claims of said counties against said
railroad company, and all accounts and claims of any tax
payer of said counties, or either of them, against said
railroad company, for stock, upon the following terms,
and in effecting the same the parties shall have full power
and authority to contract with each other, to-wit : It shall
be lawful for said railroad company to issue to the county
courts of said counties respectively, or to the sinking
fund of said counties respectively, the balance of stock The mode of
in said company to which said county courts are entitled, adjU9tment
upon said county courts, each by the presiding judge, or
by the sinking fund commissioners of said counties, as a
majority of all the justices of said counties may direct by
order of court, to be entered of record, agreeing to pay to
any and all tax payers of said counties respectively, who
own property in said counties subject to railroad taxes,
the amount due them in stock, according to the provisions
of the charter of said company, and by the county court of
each county agreeing to indemnify said company against
any loss or damage which may result to them in con¬
sequence of the claims of the tax payers of their particular
county.
Sec. 2. All claims and receipts held by any tax payer of Tax recelpt9
said counties, or other persons, for taxes paid upon prop- ^tirp0aTncom,°
erty situated in said counties, for railroad purposes, which ruYd%ommi"g
are not presented to the railroad company at their office threo years to
in Louisville, or to the office of the commissioners of the
sinking fund in the county from which said receipts issued,
within three years from the passage of this act, shall be
thereafter forever barred, and no action shall be sustained
on any such tax receipt thereafter, either against said
railroad company or either of said county courts or their
commissioners of the sinking fund : Provided, The county
84
charter of the
court shall give general public notice in each county
months public twejVe months prior to the time when said receipts shall
notice. *
be barred.
contracts en- Sec. 3. All contracts entered into between said railroad
wnian'g.1010 ** company and said county courts, or their commissioners
of the sinking fund, or other commissioners appointed for
that purpose, or the presiding judge of said courts, in
pursuance of the provisions of this act, shall be obligatory
to all intents and purposes.
settlement Sec. 4. The county court of either of the counties men-
™n7 Mmfo't tioned in this act, by the county judge or commissioners
n°fyni»g thedco.' of the sinking fund, or other commissioners appointed for
that purpose, may settle their accounts with said railroad
company at any time when said county court will give the
indemnity to the said company, as required by this act,
whether the other counties mentioned in this act are ready
for settlement or not.
Approved February 7, I860.
AN ACT for the benefit of the Commissioners of the Sinking Fun<l of
the Louisville and Nashville Railroad Company in Marion County.
Tax payers in Sec. 1. That the sheriff of Marion county shall, within
ent"n7 one month after the passage of this act, advertise by
sioner°prior^m printed notices, stuck up at the several voting places in
the county, that all holders of tax receipts redeemable in
stock in said road shall, on or before the 1st day of Jan¬
uary, 1867, produce said tax receipts to the commissioners
of Marion county appointed to receive the same.
Sec. 2. That the sheriff of said county shall notify each
tax payer of said county, at the time such tax payer pays
his taxes for 1866, of the provisions of this act.
Approved February 17, 1866.
AN ACT to Authorize Common Carriers to Sell Property to Pay Charge»
in Certain Cases.
Notice to bo Sec. 1. Be it enacted by the General Assembly of the Com-
given to c o d-
signee or owner monwealth of Kentucky, That common carriers within this
—how and in , , .
wind time. commonwealth shall, on receipt of property in their ware¬
houses, depots or stations at the place of consignment, or
within thirty days thereafter, notify the owner or con¬
signee, by written notice to the consignee, if in the same
city or town, and by letter if not in the same city or town
louisville and nashville railroad co.
85
and the consignee's place of business is not known, and
by public advertisement in some newspaper published in
the city or town if his place of business is unknown (pro¬
vided such property is plainly marked with the name of
the owner or consignee, and his place of residence), that
such property is held by them subject to charges.
Sec. 2. That if such owner or consignee shall neglect to when com-
11 11 ill • m0D carrl©r
call, pay the charges, and take the property away within may sen, and
six months from the time such notice shall have been
given, as required by section one of this act, then such
common carrier may sell said property to the highest
bidder at auction, by advertising in one of the papers
published in the county by at least three weekly in¬
sertions : Provided, If there be no paper published in
such county, then the advertisement shall be in that
paper published nearest the place to which the property
was consigned.
Sec. 3. That all money so received from the sale of such Proceeds of
property, after deducting charges and other expenses, pos^or.* 18'
shall be held by such common carrier for one year from
the day of the sale of such property, for the benefit and
use of the owner ; and if not called for in that time it
shall be paid into the treasury of this commonwealth
within thirty days thereafter.
Sec. 4. That before any property shall be sold under the inventory to
.. /» -i • *ini iii n i k0 made before
provisions oi this act, it shall be the duty ot the common «aie.
carrier having it in possession to cause an accurate in¬
ventory of each article or package to be made, which,
together with the name and address of the owner or con¬
signee, his place of residence, if marked on the package,
and the date of its receipt, shall be entered in a book to
be kept for that purpose.
Sec. 5. That whenever any such property is sold it shall tIoDn°'e* of auc-
be the duty of the common carrier having the sale made
to cause a copy of the inventory required by the fourth
section of this act to be delivered to the auctioneer or
other person making the sale, and it shall be the duty of
the person making the sale to enter on such inventory
the price for which each article or package shall sell, and
6
86
CHARTER OP THE
to make oath before some officer authorized by law that it
is correct, and then to return it to the person or corpora¬
tion from which it was received,
when money Sec. 6. That whenever any money shall he paid into the
i8 pftld into /• i -1 -,i •• r-
treasury in- treasury on account ot sales made under the provisions ot
ventory te be .in-.ii r» i .•
hied with audi- this act, it shall be the duty ox the person or corporation
tor, and record-
of sale"' report paying it in to deliver to the auditor ot public accounts,
-to be by him entered in a hook to be kept for that pur¬
pose, a copy of the inventory and sale returned by the
auctioneer or other person making the sale,
when claim- Sec. 7. If at any time within one year after the payment
ant of money . . ~
must assert his of said money into the treasury, any claimant ot any por¬
tion of said money shall prove his or her title to the same
to the satisfaction of said auditor, by testimony reduced to
writing and filed in his office, it shall be the duty of said
unda?med10pnro.' auditor to draw his warrant upon the treasurer for the
ceeds amount so proven ; and all money remaining unclaimed
shall, at the expiration of said period of one year, be
transferred to the credit of the common school fund of
this commonwealth.
Approved February 16, 1867.
AN ACT In Relation to Common Carriers, their Agents and Servants.
common car- Sec. 1. Be it enacted by the General Assembly of the Com-
riers muet keep ^ J J
rfwayU^! monwealth of Kentucky, 1 hat all persons and corporations
posted. doing business as common carriers in this commonwealth,
whose rates of freight and passage are limited by law,
shall be required to print and post, and keep posted, in
some conspicuous place in each office occupied by them
for freight and passenger purposes, a tariff of the local
and way freights charged upon all such articles as are
usually transported by them, and of any changes which
may, from time to time, be made in such rates ; and also
a list of the rates to which they are limited by law, and a
plain reference to the dates of the passage of all laws by
which such limitations are imposed ; which tariff and lists
shall be signed by the superintendent or other principal
managing agent of the person or corporation in whose
name they are published.
louisville and nashville railroad co.
87
Sec. 2. That any common carrier mentioned in the hrst Penalty,
section who shall fail to cause to be printed, posted, and
kept posted, as required by the first section, the tariff and
lists therein mentioned, shall be subject to a fine of fifty
dollars for each mouth during which such failure shall
continue ; and any superintendent or managing agent who
shall knowingly and wilfully cause to be printed and
posted, as aforesaid, a false tariff of the rates charged, or
of the rates to which such carriers are limited by law, shall
be subject to a fine of five hundred dollars for each offense.
The fines imposed by this section shall be recoverable by
indictment, in the name of the commonwealth, in any
court having jurisdiction of similar offenses.
Sec. 3. Any common carrier mentioned in the first sec- Penalty,
tion who shall charge and demand from the consignee of
any article transported by him a greater rate of freight
than that to which such carrier is limited by law, shall
forfeit all right to demand or receive from such consignee
any price whatever for the transportation of such article ;
and the consignee in such case shall be entitled to demand
and receive from the agent of such carrier, in whose pos¬
session or control it may be, the immediate delivery of the
article upon which such over-charge is made—the con¬
signee paying to the carrier only such charges, if any, as
may have been advanced by him on such article.
Approved March 9, 1867.
AN ACT Concerning Railroads, Turnpikes, Public Roads and Passways.
Sec 1. Be it enacted by the General Assembly of the Com- how to
damages for
monwealth of Kentucky, That in condemning land for a
railroad, turnpike, or other road or passway, it shall be purposes bo-
7X7 x * 7 tween parties,
the duty of the persons assessing damages, in all cases °entettth6a,^f ['hf*
where the person in possession of the land has only an
estate for life or years therein, and the reversion 0rtheland-
remaider in fee belongs to another, to apportion the dam¬
ages between the person having the estate for life or years
and the person or persons who have the reversion or
remainder in fee therein, according to the interest of each ;
and either party may appeal from the assessment or appor-
88
charter of the
tionment so made, in the manner now provided or that
may be provided by law.
Approved January 25, 1868.
AN ACT to Regulate the Sale of Railroad Tickets.
Railroad com- Sec. 1. Be it enacted. by the General Assembly of the Com-
ticket nmce monwealth of Kentucky, That it shall be the duty of all
oppii 30 minutes J .... -,
before train railroad companies within this commonwealth, at their
time. ^
respective depots, at or near all towns or cities having a
population of two thousand or over, to open their offices
for the sale of tickets to travel on such roads thirty
minutes before the departure of each passenger train on
said roads, and keep the same open for the sale of tickets
until the departure thereof.
Penalty. Sec. 2. For failure to comply with the above section of
this act, such company shall be liable to an indictment by
the grand jury, and, upon conviction thereof, shall pay the
sum of one hundred dollars for each offiense.
Approved March 9, 1868.
EXTRACT from the Revised Statutes of Kentucky—(Vol. 1, p. 394.)
obstructing Sec. 4. If any person shall wilfully and maliciously
or tearing up . .
raiimad and place an obstruction by stones, logs, sticks, or any other
penalty there- r J 7 ~ 7 7 J
for- thing, on the track of a railroad, or shall tear up or
remove any part or portion of a railroad, or the works
thereof, with intent to obstruct the passage of ears
thereon, or to throw them off the track, he shall be con¬
fined in the penitentiary not less than one nor more than
ten years.
AN ACT for the redress of Injuries arising from the neglect or misconduct
of Railroad Companies, and others—(From 2d vol. Revised Statutes of
Kentucky, p. 510.)
Where life is Sec. 1. Be it enacted by the General Assembly of the Com-
gcuce, personal monwealth of Kentucky, That if the life of any person not
representative . .
may bring suit m the employment of a railroad company shall be lost by
for damages. .
reason of the negligence or carelessness of the proprietor
or proprietors of any railroad, or by the unfitness, or negli¬
gence, or carelessness of their servants or agents, in this
state, the personal representative of the person whose life
louisville and nashville railroad co.
89
is so lost may institute suit and recover damages in the
same manner that the person himself might have done
for any injury where death did not ensue.
Sec. 2. That where cattle or other stock shall be killed if <=«ttie or
other stock are
or injured by the locomotives or cars of a railroad com- kl||ed. damages
° ^ ... ma>r be recov-
pany, on the track of said road, adjoining the landsered-
belonging to or in the occupation of the owner of such
cattle or stock, and where the owner of said land has not
received compensation for fencing said land along said
road, the loss shall be divided between the railroad com¬
pany and the owner of such cattle or stock, unless the
killing or injury arose from the wilful act, or careless¬
ness, or negligence of the agents or servants of such
companj', in which case the whole loss shall be paid by
such company.
Sec. 3. That if the life of any person is lost or destroyed „ provisions of
^ x ^ first section ap-
by the wilful neglect of another person or persons, com- pj'ned ^mpanleè
pany or companies, corporation or corporations, their a£'j18corpora~
agents or servants, then the personal representative of
the deceased shall have the right to sue such person or
persons, company or companies, corporation or corpora¬
tions, and recover punitive damages for the loss or destruc¬
tion of the life aforesaid.
Sec. 4. The actions under this act shall be commenced limitations,
within one year from the time of such death.
Approved March 10, 1854.
AN ACT to Authorize Railroad Companies to make certain Contracts-with
each other.—(From 2d vol. Revised Statutes of Kentucky, p. 548.)
Sec. 1. Be it enacted by the General Assembly of the Com- contracts may
monwealth of Kentucky, That all railroad companies in this roads with each
i it i -ii - otlier for C*T-
commonwealth shall have power and authority to make, tai» purposes.
with each other, contracts of the following character: 1.
For the consolidation of either the management, profits,
or stock of any two or more companies, the roads of which
are or shall be so connected as to form a continuous road,
either temporarily or permanently. 2. For the leasing of
the road of one company to another, provided the roads
so leased shall be so connected as to form a continuous
line. 3. For the completion, in whole or in part, of the
unfinished road of any company. 4. For giving a com-
90
charter of the
mon name and style to any continuous road belonging to
two or more companies : Provided, however, That all such
contracts shall he approved by a majority, in interest, of
all the stockholders of each of the contracting companies,
at some stated or called meeting of the same.
1»^ of°8ftocki ®EC- That the called meetings of stockholders, pro-
ad'vmued0 be vi(lod for in the first section, shall he called by the pres¬
ident and directors of the company, and notice of the
time and place thereof, and of the purpose of such
meeting, shall be advertised in one or more newspapers
of general circulation in the county where the principal
office of such company is then kept, for at least two weeks
before such meeting.
Approved January 22, 1858.
SECTIONS 1st, 4th, 8th, 9th, and 11th, to tax Railroads, Turnpike Roads,
and other Corporations, in aid of the Sinking Fund—(From Supple¬
ment to Revised Statutes of Kentucky, pp. 480, 481, 482.)
se^sedlnd^ax'd ®EC- T That the several railroads in this common-
$2n ooo per mii°! wealth, their depot grounds and improvements, with the
right of way, engines, rolling stock, and other investments
for the uses and purposes of the roads, are hereby assessed
len jr t u o f f°r taxation at the rate of twenty thousand dollars per
ches to^ te™"- mile. The president and directors of each road shall,
uati^toauditor annually, on or before the 10th day of July, return, under
treasurer. ° oath, to the auditor of public accounts, a statement of the
length of the road, and branches belonging to them, and
pay to the treasurer the same rate of tax on the assess¬
ment as is levied by law on real estate,
stock in such Sec. 4. The stock in the corporations paying taxes on
corporation ex- A .
"■"p'- the corporate property shall be exempt in the hands of
the holders.
Taxes imposed Sec. 8. That all laws or parts of laws in conflict or
by this act in . . # .
taxes0f 0 ther lucoraPa^1ble with the provisions of this act, are hereby
repealed, and no other taxes than those herein imposed,
whether provided for in the charters or otherwise, shall
be collectable from the several corporations herein enu¬
merated, by this commonwealth.
Taxes hereto- Sec. 9. That nothing in this act shall be construed as
said property to exempt any of the property, the tax upon which is
specifically provided'for by the provisions of this act, from
louisville and nashville railroad co. 91
the payment of any taxes which may not have been paid
heretofore—this act being intended to more particularly
specify how the taxes shall be paid.
Sec. 11. When said money is collected it shall become edT^™"^J;
a part of the sinking fund of this commonwealth. ofs,nkln«funi>-
Approved February 20, 1864.
AN ACT to encourage the development of the Mineral Lands in the State
of Kentucky—(From Supplement of Revised Statutes of Kentucky, pp.
743.)
Whereas, Owing to the rapid destruction of timber Preamblp-
within the past few years, and to the largely increased
demand for fuel for domestic and manufacturing purposes,
and in order more fully and effectually to develop the
uatural mineral resources of the state ; therefore,
Sec. 1. Be it enacted by the General Assembly of the Com- railroads
monwealth of Kentucky, That from and after the passage of mined"in thîs
state at certain
this act, all railroad companies heretofore, or that may be rates Axed i.y
hereafter, chartered by the state of Kentucky, shall carry
and transport all coal mined within the state at not
exceeding the rate of two and a half cents per ton of two
thousand pounds per mile, in cars of the company, and in
cars of the shippers at the rate of one and three fourths „r 4, ,
r# Vested rights
cents per ton of two thousand pounds per mile ; Provided, °oft tocob™p^f
always, That nothing herein contained shall be construed ed-
to affect any vested rights of any company heretofore
incorporated.
Approved February 14, 1866.
AN ACT to prevent the Railroad* of this Commonwealth from charging
more than the rates allowed by law—(From Supplement Revised Stat¬
utes of Kentucky, pp. 743.)
Sec. 1. That if any railroad company in this common- penalty for
wealth shall charge more than the rates allowed by their frhogh'tng'"e8al
charters for the conveying of freight, the said company
shall forfeit and pay to the person so charged double the
amount of the freight bill, and the party shall have his
action therefor in any court of competent jurisdiction
against the company.
Approved February 17, 1866.
92
charter of the
Sections 101 and 102 from '* Preliminary Provisions " Kentucky Code of
Practice, p. 33.
Action against Sec. 101. An action, other than those mentioned in sec-
corporati on, _
where brought, tioiis ninety-three and ninety-four, against a corporation
created by the laws of this state, may be brought in the
county in which it is situated or has its principal office or
place of business, or in which its chief officer resides ; but
if such corporation is a bank or insurance company, the
action may be brought in the county in which there is a
branch of the bank or agency of the company, where it
arises out of a transaction of such branch or agency.
Against ran- Sec. 102. An action against a railroad company, or an
owners" 8tast owner of a line of mail stages or other coaches for trans¬
porting a slave as a passenger, or for an injury to person
or property, upon the road or line of stages or coaches of
the defendant, or upon a liability as a carrier, may be
brought in any county through or into which the road or
line of stages or coaches of the defendant, upon which the
cause of action arose, passes.
louisville and nashville railroad co.
93
GENERAL ACTS OE TENNESSEE.
EXTRACT from Act to Charter the Chattanooga, Blue Spring and Cleve¬
land Railroad Company, and for other purposes.
Sec. 7. That when any railroad extends into this state, r. r. compa.
** # ny of other
lrom an adjoining state, and the president or head officer of states extend-
° % ° 7 A # ing its road
said road resides beyond the limits of Tennessee, a right into this s ta te
J 7 O may be sued by
of action, for the redress of any injury caused by, or for
any claim or demand against the corporation, company, podtln^ge1i;it
proprietor, or railroad, shall exist in this state, in any court ^pr^denT"
or judicial tribunal having jurisdiction thereof, against such
road, proprietor or company, and process may be served
upon any depot agent of such road residing in this state, in
the absence of the president or head officer of said road.
And the judgment which may he rendered in favor of any
claimant, shall be rendered against the company or road,
in the name by which it transacts its business, and the
property, real and personal, belonging to such company
or road, within the limits of this state, shall be liable to
the satisfaction of said judgment.
Passed February 26, 1852.
EXTRACT from Codeof Tennessee—(Article Railroads, pr- 274, 275, 276.)
1165. The county court of any county having stock in sale of coun-
any railroad may sell the same, by the consent of the ty 8tock'
people of the county, signified in the manner prescribed
for authorizing county subscriptions.
1166. In order to prevent accidents upon railroads, the Accidents on
, , , railroads, pre-
following precautions shall be observed: cautions to pre-
1. Railroad companies shall employ white men only as
engineers on their roads.
2. The overseers of every public road, crossed by a rail¬
road, shall place at each crossing a sign, marked : " Look
out for the cars when you hear the whistle or bell and
the county court shall appropriate money to defray the
expenses of said signs ; and no engine-driver shall he
94
CHARTER OF THE
compelled to blow the whistle or ring the bell at any
crossing unless it is so designated.
3. On approaching every crossing, so distinguished, the
whistle or bell of the locomotive shall be sounded at the
distance of one fourth of a mile from the crossing, and at
short intervals till the train has passed the crossing.
4. On approaching a city or town the bell or whistle
shall be sounded when the train is at the distance of one
mile, and at short intervals till it has reached its depot or
station ; and on leaving a town or city the bell or whistle
shall be sounded when the train starts and at intervals till
it has left the corporate limits.
5. Every railroad company shall keep the engineer, lire-
man, or some other person upon the locomotive, always
upon the lookout ahead; and when any person, animal, or
other obstruction appears upon the road, the alarm-whistle
shall be sounded, the brakes put down, and every possible
means employed to stop the train and prevent an accident.
servô'p^eca0^ 1167. Every railroad company that fails to observe
these precautions, or cause them to be observed by its
agents and servants, shall be responsible for all damages
to persons or property, occasioned by or resulting from
any accident or collision that may occur.
co°mpâ"yn"oft 1168. No railroad company that observes or causes to
be observed these precautions shall be responsible for any
damages done to persons or property on its road. The
proof that it has observed said precautions shall be upon
the company.
of 1169. Where a railroad company is sued for killing or
injuring stock, the burden of proof that the accident was
unavoidable shall be upon the company; and the engineer,
agent, or employee of the company shall in no case be a
witness for it.
f°rf 1170. All trains on any railroad shall stop at least fifteen
minutes at the point of intersection with any other rail¬
road, so that baggage and freight may be transferred from
one train to another.
for 1171. A failure to comply with the foregoing provision
subjects the railroad company to a penalty of one hundred
Burden
proof.
Witness.
Stopping
transfer
freight.
Penalty
failing.
LOUISVILLE AND NASHVILLE RAILROAD CO.
95
dollars, to be recovered by the party aggrieved before any
tribunal having jurisdiction.
Extract from Code of Tennessee—(Private Corporations, p. 312.)
1424. The several railroad companies may lease any Leases of otu-
er roads.
other railroad connected therewith, and upon such terms
and conditions as may be agreed upon between the presi¬
dent and directors of the contracting companies.
1425. All railroad companies availing themselves of the
provisions of the preceding section, shall be liable to all
liens in favor of the state, and to all liabilities imposed
by their charters or the general law of the land, in the
same manner as the company making the lease would
have been bad no lease been made.
Extract from Code of Tennessee—(Crimes, pp. 834, 835.)
4638. Whoever wilfully and maliciously puts upon the obstructing
track of any railroad in this state any kind of obstruction ; rallroad track-
or loosens or removes any of the rails or timbers ; or
loosens, destroys, or injures any of the machinery, gear, or
apparatus of the locomotive or cars ; or removes or
changes any signal, so as to endanger the safe running of
the locomotive and cars, or either or any of them, is guilty
of a felony, and, upon conviction of either offence, shall be
imprisoned in the penitentiary not less than two nor more
than fifteen years.
4639. If any person is killed by any accident occasioned if death ensue,
by either of the offences enumerated in the foregoing sec¬
tion, the offender is guilty of murder in the second degree,
and shall be punished accordingly.
4640. If any person is injured by such accident, the if only per-
offender is guilty of a felony, and shall be punished, on 80Dal ,njurj-
conviction, by imprisonment in the penitentiary not less
than three nor more than fifteen years.
4641. Whenever any person is killed upon any railroad neg,'Jtuoy g0^v
in this state, by an accident occasioned by the wrongful £aj;dupon ral1'
act, negligence, or omission of the engineer, conductor, or
other manager, such engineer, conductor, or manager is
guilty of a felony, and shall, on conviction, be confined in
the penitentiary not less than two nor more than ten years.
96
CHARTER OF THE
wounding in 4642. If any person is wounded or crippled by such
such case. # . • r»
accident, without being killed, the offender is guilty of a
misdemeanor, and shall, on conviction, be confined in the
common jail not less than six months nor more than three
years.
omitting to 4643. No engine-driver, or other person connected with
observe precau- .7
t-ons prescrib- the running of a locomotive or train upon any railroad,
ed.so that dea. h ~ . .
ensue. shall omit to observe the precautions prescribed for the
prevention of accidents, whereby an accident shall occur,
and any person shall be killed.
Punishment. 4644. The punishment of this offence shall be confine¬
ment in the penitentiary not less than three nor more
than twenty-one years,
if any person 4645. No engine-driver, or other person intrusted with
is wounded. # ° 7 r
the running of a locomotive or train on any railroad, shall
omit to observe said precautions, whereby an accident
shall occur, and any person be wounded or crippled. The
punishment of this offence shall be confinement in the
penitentiary not less than one nor more than ten years,
a?crossing8ign 4646. No person shall wantonly knock down or destroy
any sign-board placed at the crossing of any public road
by a railroad, requiring the sounding of the bell or whistle
by passing locomotives. The punishment of this offence
shall be fine or imprisonment at the discretion of the
court.
other maii- 4647. All other wilful and malicious acts, whereby the
cloua acte. ^ 7 ^
cars or locomotives upon any railroad in this state, or any
part thereof, or the apparatus or fixtures upon such road,
shall be injured or damaged, are declared misdemeanors.
Throwing 4648. If any person throw against or into any railway
against cars. . 7 m J
engine or car any wood, stone, or other thing, with intent
to injure any person being in or upon the same, he is guilty
of a misdemeanor.
AN ACT to compel Railroad Companies to keep within the rates of freights
as set forth In their Charters.
Railroad'(Jom- ®EC- Be it enacted by the General Assembly of the State
hîgherC?aategfo? °f Tennessee, That from aud after the passage of this act,
senger^thauln should any Railroad Company in this state by their offi-
îowed by char- cers cparge a piger raqe of freight than allowed by their
LOUISVILLE AND NASHVILLE RAILROAD CO.
97
charter, or more for conveying passengers than allowed,
the same be and is hereby declared a misdemeanor, and
on prosecution and conviction, they shall be fined for the
first offence not less than one hundred nor more than five
hundred dollars, for the second offence not less than five
hundred nor more than one thousand dollars.
Sec. 2. That the president or agents of any road vio¬
lating their charters may be prosecuted and dealt with as
contained in section 1st.
Passed February 26, 1860.
AN ACT "To Regulate the Stock of the County of Snmner In the Nash¬
ville and Louisville Railroad, and for other purposes."
Sec. 1. Be it enacted by the General Assembly of the State connty judge.
of Tennessee, That the county judge of Sumner county
shall have the power, and it is hereby made his duty to
advertise in some one of the papers published in the city
of Nashville and Louisville, requesting the holders of the
bonds of Sumner county to file in his office their amount,
date and number, and to open a negotiation with said
holders for the payment of said bonds in the stock of said
county in the Louisville and Nashville Railroad, at par;
and in all cases where the holders of any of said bonds to exchange
shall agree to take said stock, or a regular transfer thereof, °tock forbonds-
dollar for dollar, then the said county judge shall make
said exchange, and by power of attorney acknowledge
before the clerk of the county court, or in person transfer
said stock upon the books of the company to such holder,
or his, her, or their order; and receive in lieu of said
stock such bond or bonds so paid ; and he shall report to
the next term of the county court all of the bonds so
taken up. As he shall so receive a bond, he shall write
in legible letters across its face, cancelled, with the date
and his official signature; and it shall be his duty in the
presence of the clerk thereof, and such justices of the
peace as may be present, to cancel said bonds, and record
shall be made upon the minutes of said court of said can¬
cellation.
Sec. 2. That to meet any interest due on said bonds, the
county judge of Sumner county is authorized and required
to ascertain from said company what is the amount of
98
charter of the
Dividends, dividends due the county on said stock, and after giving
three months notice to holders of coupons, in the papers
aforesaid, he will pro rata the same among said holders,
who shall present the same as notified, and give such par¬
ties delivering up their coupons authority to draw their
portion of said dividends, and as coupons shall be thus
taken up, they shall be cancelled in like manner provided
for the cancellation of the bonds: Provided, however, That in
case any holder of a bond with interest due thereon from
the 1st of January, 1861, shall be willing to exchange his
bond and interest for the like amount of stock and such
dividends as may he due, then said county judge shall
make said exchange and deliver the necessary transfers;
all of which shall be reported as aforesaid.
Passed June 7, 1865.
AN ACT to amend an Act entitled ** An Act to establish a System of Inter¬
nal Improvement in the State," passed the 11th of February, 1852.
Not to aïs- Sec. 10. That any railroad company receiving aid
criminate. .... .. .
under this act or the act this is intended to amend, or
any amendment thereto, who shall discriminate in their
freight or passenger tariff against the business of any city
or town or place in this state, or carry freight lower in
one direction than another, or refuse to give the citizens
of this state equal facilities for transporting their freight
to or from any point they may desire to ship to or from,
with the citizens of any other state, whether the act be
committed within the limits of this state- or not, shall,
upon conviction, be lined in the sum of not less than one
Punishment. thousand dollars nor over live thousand dollars for each
and every offense, the same to be collected as other fines
and forfeitures are collected, one half of the same to go
to the state, and the other half to the party aggrieved.
Notice. Sec. 11. That when the principal officers of the com¬
pany do not reside in and have a permanent office in this
state, it shall be competent and lawful to serve notice on
any agent of said company who does reside in the state,
in any suit brought under the provisions of this act.
Passed November 23, 1865.
louisville and nashville railroad co.
99
AN ACT to compel Ticket Agents of Railroad Companies to do their duty »
and for other purposes.
Sec. 1. Be it enacted by the General Assembly of the State ticket office
of Tennessee, That from and after the passage of this act, Ônè'houf'
it shall he the dut}' of every person who shall sell or he
authorized to sell tickets to passengers to travel on any
railroad in this state, at any station or depot within this
state, shall open his office for the sale of said tickets, at
least one hour before the time for the departure of each
passenger train from said station or depot, and keep the
same open during said space of one hour, and until the
departure of each passenger train, and be always ready
during said time to sell tickets to passengers as they may,
during said hour, apply for them. Any failure to comply
strictly with the provisions of this act, shall subject the
delinquent to indictment or presentment, and upon con¬
viction, to be fined not less than twenty nor more than
fifty dollars.
Sec. 2. That it shall he the duty of each conductor or conductor'
other employee on any railroad in this state, to announce rtuty'
in loud, distinct words, for each passenger car, the stop¬
ping place, station, or depot, or town at which each car
or passenger train stops, or shall be detained for any pur¬
pose, and also the time such car or passenger train will
stop or be detained.
Sec. 3. That every railroad company shall cause such PenaIty.
passenger car to be well supplied with pure and whole¬
some water, and in cool weather, have each passenger car
provided with comfortable fires, and at night, furnished
with sufficient light for the use, comfort and convenience
of the passengers.
Sec. 4. That upon the failure of any railroad company, w
during any trip of the passenger cars, to comply strictly
with any of the provisions of the two preceeding sections
of this act, then such railroad company shall forfeit and
pay the sum of one hundred dollars, recoverable before
any court having jurisdiction thereof, one half to be paid
to the person suing, and the other half to go to common
school fund of the state.
Passed January 23, 1866.
100
CHARTER OF THE
AN ACT Concerning the Teasing and Consolidating of Railroads in the
State of Tennessee.
ehaV"notat* Sec. I- e ^ enacted by the General Assembly of the State
Loaidftte°dr «Tu,." °f Tennessee, That it shall not be lawful for the receiver,
ter.'stockhoîdl president, or president and directors, or superintendent,
"Ânnuaî'meet. or other officer, or agent, of any of the railroads in this
state, to lease to, or consolidate, the railroads controlled
by them, or either of them, with any railroad, without
the consent of the stockholders of the road, proposed to
be thus leased or consolidated ; which consent shall be
manifested by a vote of three-fourths of the stock present,
or represented at such annual meeting, in favor of such
leasing or consolidation.
Sec. 2. That at the annual meeting of the stockholders,
when a vote is taken on a proposition to lease or consoli¬
date any railroad in this state, each share held by a stock¬
holder, shall entitle him to one vote.
Passed March 13, 1868.
MEMPHIS AND OHIO RAILROAD CO.
101
CHARTER OF MEMPHIS & OHIO R. R. COMPANY.
AN ACT to Incorporate the Nashville and Memphis Railroad Company.
Sec. 1. Be it enacted by the General Assembly of the State Perpetual pow
of Tennessee, That for the purpose of completing a com- e"'
munication by railroad, from one end of the state to the
other, the formation of a company for the construction of
a railroad from Nashville to Memphis, pursuing the near¬
est and most eligible route from the one city to the other,
crossing the Tennessee river between Ross' Ferry and one
mile below White Oak Island, said route to be ascertained
and defined by survey, is hereby authorized, which, when
formed, in pursuance of the provisions hereinafter pre¬
scribed, shall be a body corporate by the name and style
of the Nashville and Memphis Railroad Company. They
shall have perpetual succession, and by said corporate
name shall sue and be sued, and have all the powers,
rights, and privileges, and be subject to all the restraints
so far as such provisions may be applicable, which are
contained in the acts incorporating the Nashville and
Chattanooga and the Memphis and Charleston Railroad
Companies, together with the acts amendatory of the same
as fully as if herein set forth at length, and the same are
hereby declared to form and constitute a part of the charter
hereby granted to the Nashville and Memphis Railroad
Company : Provided, That the prohibition herein con¬
tained against granting a charter for the construction of
any lateral or parallel road or roads, shall not be appli¬
cable to this charter nor to the charter of any other road
or roads to be constructed from Nashville to the Mississippi
river, or to or through any other part of the state of Ten¬
nessee lying west of the Tennessee river : And provided
further, That nothing in this act shall be so constructed as
7
charter of the
to authorize the governor to indorse the bonds of said
company.
Sec. 2. That the capital stock of said company shall
amount to the sum of three millions of dollars, with power
to open books and increase the same to an amount suf¬
ficient to insure the completion of said road. Books for
the subscription of the capital stock of said company, in
simres?25each, shares of twenty-five dollars each, shall be opened, &c.
Sec. 6. That said railroad company shall have powrer to
re-open books for subscription of stock sufficient to insure
the completion of said road, in the manner and on the
terms hereinbefore required, and they may designate com¬
missioners for that purpose, either within the state or
without it, they shall have power to purchase and select
their depots along the line of the road, and at Memphis,
east side of the Bayou Gayoso, and they may cross the
Cara may enter 47 47 ' ,
limits°of*Mrm- we8t 8^e °f the bayou, and may locate a line of railway
p,'k within the limits of the corporation : Provided, The mayor
and aldermen of Memphis assent thereto, and the cars are
drawn within the corporate limits of said city with horses,
and instead of extending their western terminus to Mem¬
phis, they may connect themselves with the line of the
Memphis and Charleston Railroad Company, at such
points towards the western terminus of the road, and on
such terms and conditions as may be agreed upon by said
railroad companies, and the Tennessee Central Railroad
Company under the same terms and conditions may con
struct their road from Fulton, and may connect with the
Nashville and Memphis Railroad at such point as they
may elect.
Passed February 4, 1852.
CHARTER of Nashville & Chattanooga R.R. Co., and Memphis &, Charles¬
ton R. R. Co. made part of the Charter of Nashville & Memphis B. R.Co.
incorporation. Sec. 1. Be it enacted by the General Assembly of the State
of Tennessee, That for the purpose of establishing a com¬
munication by railroad between Memphis, Tennessee, and
Charleston, South Carolina, the formation of a company
is hereby authorized, which when formed shall be a body
corporate by the name and style of the " Memphis and
Charleston Railroad Company;" and by said corporate
102
Capital.
memphis and ohio kailkoad co.
103
name shall be capable in law to buy, receive by gift, bold,
sell and convey real and personal estate, as hereinafter
provided ; make contracts, sue and be sued, to make by¬
laws, and to do all lawful acts properly incident to a
corporation and necessary and proper to the transaction
of the business for which it is incorporated ; and to have
and use a common seal, and the same to alter and destroy
at its pleasure ; and shall have perpetual succession.
Sec. 8. The affairs of said company shall be managed by Board of di-
a board of directors, to consist of nine, five of whom shall rector8-
constitute a quorum, and who shall be chosen by the stock¬
holders from their own body, and a president of the
company shall be elected by the directors from among
their own number, in such manner as the regulations of
the corporation shall prescribe.
Sec. 9. As soon as the said sum shall have been sub- M
31 e e 11 n g of
scribed, it shall be the duty of the commissioners appointed stockholder,
to declare the same, to appoint a time for the stockholders
to meet in Memphis, and give notice thereof by publica¬
tion in some newspaper in Memphis and Somerville, at
which time the said stockholders, in person or by proxy,
shall proceed to elect the directors of the compauy and to
enact all such regulations, rules, and by-laws as may be
necessary for the government of the corporation and the
transaction of its business. The persons elected directors
at this meeting shall serve for such period, not exceeding
one year, as the stockholders may direct; and at this meet¬
ing the stockholders shall fix on the day and place or
places when the subsequent elections of directors shall be
held, and such elections shall thenceforth be annually
made ; but if the day of annual elections should pass with¬
out any election of directors, the corporation shall not be
thereby dissolved ; but it shall be lawful on any other day
to hold and make such elections in such manner as may
be prescribed by a by-law of the corporation.
Sec. 10. The board of directors may fill all vacancies vacant
which may occur in it during the period for which their
board shall have been elected, and in the absence of the
president may fill his place by electing a president pro
tempore.
104
charter of the
coDtracts. Sec. 11. All contracts and agreements authenticated by
the president of the board shall be binding on the com¬
pany without seal, or such other mode of authentication
may he used as the company by their by-laws may adopt.
board of di- Sec. 12. The board of directors shall not exceed in their
rectors not to . .
exceed in their contracts the amount of the capital of the corporation and
contracts nm't A A
an'done'1*!' °*' the funds which the company may have borrowed and
personally' r^ placed at the disposal of the board ; and in case they should
sponsible. (Jq g0 president and directors who may be present at
the meeting at which such contractor contracts so exceed¬
ing the amount aforesaid shall be made, shall be jointly
and severally liable for the excess, both to the contractor
Restrictions, or contractors and the corporation : Provided, That any
one may discharge himself from such liability by voting
against such contract or contracts, and causing such vote
to be recorded on the minutes of the board, and giving
notice thereof to the next general meeting of the stock¬
holders.
No road to Sec. 13. After the route of said railroad shall have
wi'th tbis!"R"y been accurately surveyed and adopted, and a plat thereof
deposited in the office of the secretary of state, it shall
not be lawful for any other railroad to be built, cut or
constructed in any way or manner, or by any authority
whatsoever, running latterly within twenty miles of the
route so adopted, unless by said company or with the con¬
sent of the board of directors for the time being.
exclusive Sec. 14. The said company shall have the exclusive right
right of trans- />,,.• r. ,
portation. ot transportation or conveyance ot persons, goods, mer¬
chandise, and produce over the said railroad by them to be
constructed : Provided, That the charge of transportation
and conveyance shall not exceed thirty five cents per hun¬
dred pounds on heavy articles, and ten cents per cubic foot
on articles of measurement, for every hundred miles, and
five cents a mile for every passenger : And provided also,
That the said company may, when they see fit, farm out
their rights of transportation on said road, subject to the
rates above mentioned.
transfer of Sec. 16. The stock of said company may be transferred
in such manner and form as may be directed by the by¬
laws of said corporation.
MEMPHIS AND OHIO RAILROAD CO.
105
Sec. 17. The said company may at any time increase its CttII)int°1rf,ft8<' of
capital to a sum sufficient to complete the said road and
stock it with everything necessary to give it full operation
and effect, either by opening books for new stock, or by
selling such new stock, or by borrowing money on the
credit of the company and on the mortgage of its charter
and works; and the manner in wliich the same shall be
done in either case shall be prescribed by the stockholders
at a general meeting; and any state or any citizen, corpo¬
ration or company of this or any other state or country,
may subscribe for and hold stock in said company, with
all the rights and subject to all the liabilities of any other
étockholder.
Sec. 18. The board of directors shall once in every year R,.p0rt of di-
at least make a full report on the state of the company rector"
and its affairs to a general meeting of the stockholders,
and oftener if directed by law, and shall have power to
call a general meeting of the stockholders when the board
may deem it expedient.
Sec. 19. No person but a citizen of the United States, Eligibility,
and being a bona fide stockholder iu his own right, which
he shall have held at least three months previous to his
election (except the first), who shall not have held in his
own right the share or shares on which he offers to vote
at least three months previous to such election.
Sec. 20. Stockholders may vote in person or by proxy, Proxy.
and in the election of directors and in voting on all ques¬
tions which come before a meeting of the stockholders, or
which may be submitted to the decision of the stockhold¬
ers in any other manner, the owner of one or more shares
shall be entitled to one vote for each and every share he,
she, or they may own, as aforesaid.
Sec. 21. The said company may purchase, have and Property of
hold in fee, or for a term of years, any lands, tenements pany'
or hereditaments, which may be necessary for said road
or appurtenances thereof ; or for the erection of deposi¬
tories, store-houses, houses for the officers, servants or
agents of the company; or for workshops or founderies
to be used for said company; or for procuring timber,
stones or other materials necessary for the construction of
106
CHARTER OF THE
the road, or its appurtenances; or for effecting transpor¬
tation thereon.
obstructions Sec. 22. The said company shall have the right, when
necessary, to construct the said road, or any branch thereof,
across or along any public road or water course : Provided,
That the said road and the navigation of such water
course, shall not thereby be obstructed: And provided fur¬
ther, That such railroad shall not be located so near any
turnpike road as to injure or prejudice the interests of the
stockholders in such turnpike road, except upon such
terms as may be agreed upon by the president and
directors of the same, on behalf of the stockholders.
purchase of Sec. 23. The said company may purchase, have and
bridge or turn- # ...
pike. hold any bridge or turnpike road over which it may be
necessary to carry the said railroad, and when such pur¬
chase is made, to hold the said bridge or turnpike road
on the same terms, and with all the rights which belong
to the individual, individuals or corporation from which
such purchase may be made : Provided, That the said
company shall not obstruct any public road without con¬
structing another as convenient as may be.
Absence of Sec. 25. In the absence of any contract with the com-
rjgbt of way. pany in relation to the lands through which the said road
may pass, signed by the owner thereof, or by his agent or
any claimant or person in possession thereof, which may
be confirmed by the owner, it shall be presumed that the
land upon which the said road may be constructed,
together with a space of one hundred feet on each side
of the center of said road, has been granted to the com¬
pany shall have good right and title thereto, and shall
have, hold and enjoy the same as long as the same be
used only for the purposes of the road and no longer,
unless the person or persons owning the said land at the
time that part of the road which may be on said land was
finished, or those claiming under him, her or them, shall
apply for an assessment for the value of the said lands as
hereinbefore directed, within five years next after that
part of said road was finished ; and in case the said owner
or owners, or those claiming under him, her or them,
shall not apply for such assessment within five years next
memphis and ohio railroad co.
107
after the said part was finished, he, she, or they shall be
forever barred from recovering the said land or having
any assessment or compensation therefor : Provided, Noth¬
ing herein contained shall effect the right of femmes couverte
or infants until two years after the removal of their
respective disabilities.
Sec. 26. If any person shall intrude upon the said rail- forfeiture n.r
road or any part thereof, by any manner of use thereof road,
of the rights and privileges connected therewith, without
the permission, or contrary to the will of said company,
he, she, or they shall forthwith forfeit to the said company
all the vehicles that may be so intruded 011 said road, and
the same may be recovered by suit at law ; and the person
or persons so intruding may also be indicted for misde¬
meanor, and, upon conviction, fined and imprisoned by
any court of competent jurisdiction.
Sec. 27. If any person shall wilfully and maliciously punishment
destroy, or in any manner hurt, damage or obstruct the £oad. dttinag",g
said railroad, or any bridge or vehicle used for, or in the
transportation therein, such person or persons so offending
shall be liable to be indicted therefor, and on conviction
shall be imprisoned not more than six nor less than one
month, and pay a fine of not less than twenty dollars, and
shall be further liable to pay all the expenses of repairing
the same; and it shall not be competent for any person so
offending against the provisions of this clause, to defend
himself by pleading or giving in evidence that he was the
owner or agent, or servant of the owner of the land where
such destruction, hurt, damage, injury or obstruction was
done or caused, at the time the same was caused or done.
Sec. 28. Every obstruction to the safe and free passage NuUanc(,
of vehicles on the said road shall be deemed a public
nuisance, and may be abated as such by an officer, agent
or servant of the company; and the person causing such
obstruction may be indicted and punished for erecting a
public nuisance.
Sec. 29. The said company shall have the right to take itat-aof 8t,.r-
at the store-houses they may establish or annex to theirRSU"
road, all goods, wares, merchandise and produce intended
for transportation; prescribe the rules of priority, and
108
charter of the
charge and receive such just and reasonable compensation
for storage as they, by rules, may establish, (which they
shall cause to be published) or as may be fixed by agree¬
ment with the owner, which may be distinct from the
rates of transportation : Provided, That the said company
shall not charge or receive storage on goods, wares, mer¬
chandise or produce, which may be delivered to them at
their regular depositories for immediate transportation,
and which the company may have the power of transport¬
ing immediately.
nivid-uds. Sec. 30. The profits of the company, or so much thereof
as the board of directors may deem advisable shall, when
the affairs of the company will permit, be semi-annually
divided among the stockholders, in proportion to the stock
each may hold.
Banking and Sec. 31. The said company is hereby expressly prohib¬
ited from carrying on any banking operations ; but may
effect insurances on lives and property transported on the
road.
Powers. Sec. 33. The said company shall possess such additional
powers as may be convenient for the due and successful
execution of the powers granted in this charter, and for
the successful construction and management of the work.
Amendment Sec. 34. This charter shall be amendable from time
of charter. . _ 1
to time by the legislature, whenever the president and
directors shall unanimously petition for amendments,
specifying in the petition the nature of such amendments
and when such amendments shall be adopted by the legis¬
lature and submitted to the directory, and be accepted
and adopted unanimously by the president and directors,
they shall he obligatory on the stockholders, and not
otherwise.
o(Exemptionof Sec. 35. The president, directors, clerks, agents, officers
and servants of said company shall be exempt from mili¬
tary duty, except in cases of invasion and insurrection ;
and shall also be exempt from serving on juries and work¬
ing on public roads.
Exemption Sec. 38. The capital stock of said company shall be
from taxatiou. A r %/
forever exempt from taxation, and the road with all its
fixtures and appurtenances, including workshops, ware-
MEMPHIS AND OHIO RAILROAD CO.
109
houses and vehicles of transportation, shall be exempt
from taxation for the period of twenty years from the
completion of the road, and no longer.
Sec. 40. Any individual or individuals, company or Branch roads,
body corporate, with the permission of the legislature of
this state, may hereafter construct branches to unite with
the said Memphis and Charleston Railroad; and it shall
be the duty of said company, when required, to receive
on their road the full loaded freight cars from such
branches, and transport the same to their destination, and
to return them, without changing the loads thereof or
charging for transportation of the goods, wares, merchan¬
dise and produce therein any greater rate of freight than
they charge for similar goods, wares, merchandise and
produce in their own cars: Provided, That the company
shall not be compelled to receive such cars on their road,
unless they are constructed in the same manner and are
of equal strength with their own cars, of which the engi¬
neer of the main road shall be the judge: And provided,
That the company shall not be required to receive any
car from such branches without receiving payment for at
least twenty miles transportation : And provided also, That
the said company shall be entitled in all respects to similar
and equal privileges on any branches constructed to unite
with their road, subject to the same restraints.
Passed 2d February, 1846.
AN ACT to Amend an Act entitled An Act to egtabllsh a System of Inter¬
nal Improvements for the State, and for other purposes.
Sec. 3. The charter of the Nashville and Memphis Fifteeil direc.
Railroad company shall he so amended that in all future tore'
elections by the stockholders they shall elect fifteen
directors, a majority of whom shall reside in Shelby
county, and the present hoard may increase their number
to that extent, who shall act until the next general elec¬
tion, on the first Monday in October, 1854, and annually
thereafter, provided they shall deem it necessary ; and
hereafter the president shall be elected by the directory
from one of their board.
Sec. 7. Said railroad company shall have power to issue rowers,
and sell the bonds of said company to raise money upon
110
charter of the
the means of the company, by proper and suitable con¬
veyance; to build one or more branches; to establish such
guage as will enable them to connect with railroads in
other states ; to change the name of the company to that
of Memphis and Louisville Railroad Company, or any
other name they may desire ; but the change of name
shall not deprive said company of any rights, powers and
privileges vested in them by their original amended char¬
ter, or by the general law of the state establishing internal
improvements, passed February 11, 1852, or any amend¬
ment of the same, but the same shall exist in full force
and virtue, and in all respects as obligatory as though the
name of the company had not been changed.
Passed December 16, 1863.
AN ACT to amend an Act, entitled an Act to Incorporate the Nashville
and Memphis Railroad Company, and for other purposes.
Power?. Sec. 1. Be it enacted by the General Assembly of the State
of Tennessee, That the Nashville and Memphis Railroad
Company are hereby authorized to increase the capital
stock of said company, to an amount sufficient to cover the
cost of construction and equipment of said road, and they
shall have all the rights, powers and privileges, so far as
the same are applicable, conferred upon the Memphis,
Clarksville and Louisville Railroad Company, either by
their original charter, or by any amendment of the same,
which have been or may hereafter be passed, as fully as if
herein inserted and fully set forth at length,
change or Sec. 10. In the event the Nashville and Memphis Rail-
operate^a a"re^ roa(l Company shall change the name of said company,
IfoTd e°r B8ttfo*r or shall consolidate wTith any other company, said change
scribed. ub" of name or consolidation, provided it is agreed to by the
president and directors of said company, shall not operate
to release said counties from any liabilities for stock sub¬
scribed to the Nashville and Memphis Railroad Company,
but all subscriptions made to said company shall he as
obligatory and binding as though said company had not
changed its name, or consolidated with any other company.
Passed February 28, 1854.
MEMPHIS AND OHIO RAILROAD CO.
Ill
AN ACT to Charter the Memphis, Clarksville & Louisville Railroad Com¬
pany made part of the Charter of the Nashville & Memphis Railroad
Company.
Sec. 1. Be it enacted by the General Assembly of the State powers.
of Tennessee, That Robert M. House, Edmund Howard,
Newton Hollingsworth, John S. Hart, J. Anderson, Robt.
H. McClure, N. H. Allen, Robt. G. Johnson, William
Dudley, Geo. W. Hampton, Jas. E. Bailey, and their asso¬
ciates, who shall be stockholders in a railroad company,
and their successors, under the name and style of the
Memphis, Clarksville and Louisville Railroad Company,
are hereby declared to be a body corporate and politic,
under the laws of Tennessee, with succession for ninety-
nine years, and a common seal, with capacity to sue and
be sued, receive and enjoy to them and their successors,
property and estate of whatever nature and quantity, and
the same to alien, transfer and dispose of, so far as may
be necessary to carry into effect the main object of this
charter, which is hereby declared to be the construction,
use and maintenance of a railroad from Memphis in
Tennessee, through Clarksville to Louisville, or to some
suitable point where said railroad shall intersect the Nash¬
ville and Louisville Railroad in the state of Kentucky.
Sec. 2. That said company shall have power to unite May C0nB0li.
with any company that may be chartered by the legisla- ?08M"niphhi8road
ture of the state of Kentucky, for the construction of a
railroad from Louisville, or some suitable point on the
line of the Nashville and Louisville Railroad, to the
boundary line of the state of Tennessee, to unite with the
railroad from Memphis as aforesaid, and to consolidate said
two railroads, and the stock of the two companies, so as
to make one railroad and one company, in such manner
and upon such terms as said company may deem best.
Sec. 5. That said company shall have the right, when
necessary to construct said road across or along any public
road or water course : Provided, That said company shall
not obstruct such public road or water course, and should
said company run said road upon the line of any turnpike
road, it shall and may be lawful for said company to make
such contract or arrangement with said turnpike com¬
pany, as may be deemed best by the parties, by permitting
112
charter of the
said turnpike company to subscribe for such amount of
stock in said railroad company as may be agreed upon by
the parties in lieu of the value of or damages to said turn¬
pike company : Provided, That the 22d section of the
charter of the Nashville and Chattanooga Railroad Com¬
pany shall not be binding upon, extend to, or be any part
of the charter of the Memphis, Clarksville and Louisville
Railroad Company,
nlc"with0Ken'- Sec. 6. That said company shall have power to extend
tucky road. ga^ rajiroa(j across the Tennessee and Kentucky line so
as to connect with any railroad that may be built by the
state of Kentucky or her citizens, from any point on the
Nashville and Louisville Railroad, so as to form one con¬
nected and continued road from Memphis by Clarksville,
to the point of intersection with the Nashville and Louis¬
ville Railroad, in the direction towards Russellville and
Bowling Green, Kentucky, or beyond these towns if
necessary, to the point of junction with the Nashville and
Louisville Railroad.
Sec. 8. That whenever said company shall have com¬
pleted that part of said road from the town of Clarksville
to the state line or junction with the Louisville and Nash¬
ville railroad, or to the city of Louisville, they shall have
all the rights and privileges conferred by this charter for
the period of ninety-nine years.
Sec. 10. That said company shall be, and they are
hereby vested with all the rights, powers and privileges,
and subject to all the restrictions and liabilities of the
Nashville and Chattanooga Railroad Company, except
otherwise provided in this charter.
Sec. 11. That said company shall have the right, should
they deem it necessary to exercise it, to intersect and
unite with the Northwestern Railroad, or the Nashville
and Memphis Railroad, or both of them, at any point or
points between Clarksville and the city of Memphis.
Passed January 28, 1852.
memphis and ohio railroad co.
113
RESOLUTION of Directory Changing Name to Memphis and Ohio Rail¬
road Company.
Memphis, January 20, 1854.
The board met pursuant to adjournment. The presi¬
dent submitted to the directory the amendments obtained
by him to the charter of the company, at the present
session of the legislature, when Mr. Miller ottered the fol¬
lowing resolution :
Whereas, On the 3d day of October, A. D., 1853, the
president and directors of the Nashville and Memphis
Railroad Company made a written application to the
general assembly of the state of Tennessee, for certain
amendments to their charter passed February 4th, 1852 ;
and for certain amendments to the general internal im¬
provement bill, passed February 11th, 1853: And whereas,
On the 16th day of December, 1853, the general assembly
of the state of Tennesse passed an act granting such
amendments to the charter of the said Nashville and
Memphis Railroad Company, as were asked for in said
application, and said amendments having been duly con¬
sidered by the undersigned, constituting the-entire board
of president and directors of said company, we hereby
ratify, confirm, adopt, and accept said amendments, and
hereby instruct the secretary of the company to spread
the said amendments on record with a copy of this origi¬
nal act of the directory, and this original act, signed by
the entire board of directors, be filed among the archives
of the company.
The board then proceeded to the selection of another
name for the company, when the president suggested that
it be called the " Memphis and Ohio Railroad Company,"
which name was unanimously adopted by the board.
Extract from an Act to Incorporate the Columbia, Centreville and Pine
Kiver ltaiiroad, and for other purpoaea.
Sec. 22. That the president and directors of the Mem- MemPi.i. and
phis and Ohio Railroad Company shall have the power to ?0h '.jmu""have
issue income bonds of the company for an amount not income bonds,
exceeding six hundred thousand dollars, having not more
than ten years to run to maturity, from 1st of April, 1860,
with coupons for interest attached, payable semi-annually,
114
CHARTER OF THE
which shall not exceed ten percent, per annum; the prin¬
cipal and interest of said bonds may be made payable at
Memphis, Charleston, South Carolina, or in the city of
New York, as said president and directors may deem best.
Mortgage to Sec. 23. To secure the payment of said principal and
interest, the president and directors of said company shall
have the power to execute deed of trust or mortgage on
the receipts of the road, upon the rolling stock, real estate,
franchises, right of way, and other property of the com¬
pany, real, personal, or mixed; but nothing herein con¬
tained shall be so construed as to interfere in any shape
or form with the prior or statutory lien in favor of the
state of Tennessee, which shall remain at all times para¬
mount to all other claims or liens whatever : Provided,
also, That before the president and directors shall issue
said income bonds the stockholders shall be called together
and a majority of them shall consent thereto.
Former laws Sec. 25. Any law or provision in either the original
company nouo charter, or any amendment of the same, or any law what-
engagfin bank- eyer comjng jn conflict with the foregoing provisions, are
hereby repealed : but nothing herein contained shall be
so construed as to authorize said company to engage in
banking or dealing in bills of exchange, either directly or
indirectly.
May condemn Sec. 28. It shall be lawful for the president and direct-
fight of way ors of the Memphis and Ohio Railroad Company to con-
front Main et. r . . . . , ,
to Navy Yard demii grounds tor right 01 way irom their original depot,
on Main street, to present depot, in the navy yard, in the
same manner and under the same rules and regulations as
are prescribed in their charter for condemning right of
way on the main stem of their road.
Passed February 29, 1860.
AN ACT to amend the Charter of the Memphis and Ohio Railroad Com¬
pany, and to Authorize a Consolidation of the Mississippi and Tennessee
Railroad Company with the Memphis and Ohio Railroad Company.
Memphis »n.i Sec. 12. That the Memphis and Ohio Railroad Com-
coh may extfod pany be, and they are hereby authorized to extend their
mus! an"Tenm lien of road from the terminus fixed by the act passed
February 4th, 1852, incorporating said company, to the
terminus of the Mississippi and Tennessee Railroad Com-
memphis and ohio railroad co.
115
pany, upon the same terms and conditions as provided by
their charter.
Sec. 13. That the Memphis and Ohio and the Mississippi Memphi» and
and Tennessee Railroad Companies be, and they are hereby eipPia#ud Ten-
, _ • -i «i nessee Railroad
fully authorized to make a consolidation of the said rail- companies may
" ^ , consolidate.
road companies, upon the same terms and conditions as
are prescribed in the act of the 5th of February, 1858,
entitled, An act to consolidate the Memphis and Ohio and
the Memphis, Clarksville, and Louisville Railroad Com¬
panies, as amended by this act : Provided, That no state
aid to said connection and the extension shall be granted.
Passed March 21, 1860.
This book is a preservation facsimile
produced for the Northwestern University Library.
It is made in compliance with copvright law
and produced on acid-free archival
60# book weight paper
which meets the requirements of
ANSI/NISO Z39.48-1992 (permanence of paper)
Preservation facsimile printing and binding
by
Acme Bookbinding
Charlestown, Massachusetts
2012