1852.

to the owner or owners of such lands or materials, or lands When proprty and materials, by means of the proposed construction; and to vest in Co. the said lands, or the property so condemned and estimated as aforesaid, shall become the property of said Company, upon payment of the damages assessed by said jury.

SEC. 11. Be it further enacted, That in case any person Injuries to ro'd shall wilfully injure or obstruct in any degree the said forfeiture for. Road or Roads, he shall forfeit and pay unto the said Company three times the amount of all damages it may sustain in consequence thereof, to be sued for and recovered in any Court having jurisdiction thereof; and on complaint to any magistrate within whose jurisdiction such offence shall be committed, it shall be the duty of such magistrate to bind the person or persons so offending, with sufficient security, for his or their good behavior for a period of not less than one year; and such offender shall also be subjected to indictment, and shall be sentenced, at the discretion of the Court, to be imprisoned not less than three nor more than six months.

Penalty for.

Tolls.

SEC. 12. Be it further enacted, That after the completion of said Road, or any part thereof, the said President and Directors may lay and collect tolls from all persons, property, merchandise, and other commodities transported Limitation of thereon: Provided, The nett profit of said Road shall not exceed 25 per cent. per annum; and shall provide convenient passages to travel across said Road, whenever it shall cross a public highway.

Road when to

SEC. 13. Be it further enacted, That said Company be commenced hereby incorporated shall commence the building of said and completed. Road within one year, and complete the same within fifteen years from the passage of this Act.

Banking prohibited.

Certificates of

sued.

SEC. 14. Be it further enacted, That nothing in this act shall be so construed as to confer upon said Company any right to exercise the powers of a Banking Company, or to issue any description of paper intended for current circulation.

SEC. 15. Be it further enacted, That certificates of stock to be is- Stock shall be issued to the Stockholders, on the payment of each instalment, which shall be transferable on the Books of the Company only, and by personal entry of the Stockholder, or his legal attorney or representative, duly authorized for that purpose.

[Passed the House of Representatives December 11, 1852. Passed the Senate December 20, 1832. Approved by the Governor January 7, 1853.

1852.

CHAPTER 487.-[No. 8.]

AN ACT to incorporate the Escambia Rail Road Company.

SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Florida in General Assembly convened, That Walker Anderson, O. M. Avery, S. A. Leonard, B. D. Wright, and Joseph Sierra, of the city of Pensacola, Florida, be, and they are hereby appointed Commissioners commissioners to open books and receive subscriptions to open books. for stock in a Rail Road to be constructed from the city of Pensacola, in Florida, to connect with the Girard and Mobile Bay Rail Road in the State of Alabama at the most eligible point; any three of whom are authorized to open books for the purpose of receiving subscriptions to the capital Stock of said Company, at such times and places as they may think proper, upon giving public notice thereof not less than twenty days, and shall keep the same open until the whole capital Stock is subscribed.

SEC. 2. Be it further enacted, That the capital stock of said Company may be three hundred thousand dollars, with the privilege of increasing it to seven hundred thousand dollars, should such an increase be found necessary for its construction and future management, and shall be divided into shares of one hundred dollars each.

Capital stock.

SEC. 3. Be it further enacted, That said Railroad may May connect at any point connect or intersect with any other Railroad with other r'ds. or Roads.

Name of com

SEC. 4. Be it further enacted, That as soon as one hundred thousand dollars shall have been subscribed to the cap- pany and corital stock of said Company, the subscribers of said stock, porate powers. their successors and assigns shall be, and they are hereby, declared to be incorporated into a Company by the name of the "Escambia Railroad Company," and by that name shall be capable in law of purchasing, holding, leasing, selling, and conveying real, personal, and mixed property, so far as shall be necessary for the purpose of this incorporation, and by said incorporated name may sue and be sued, plead and be impleaded, answer and be answered unto, in any Court of law or equity in this State or elsewhere, and to have and use a common seal, and the same to alter or amend at pleasure, to pass such by-laws, rules and ordinances for the good government of said corporation as to them may seein proper, and generally do all things ne

1852.

Directors, how elected.

cessary to carry into effect fully and completely the object of this act.

SEC. 5. Be it further enacted, That as soon as one hundren thousand dollars shall have been subscribed, the Commissioners hereby appointed, shall call a meeting of the subscribers at such time and place as they may appoint, and at such meeting the said subscribers, or a majority Shall choose a of them in value, shall elect nine Directors by ballot, to

President.

manage the affairs of said Company, and the Commissioners aforesaid, or any three of them, shall be judges of said first election of Directors, and the Directors thus chosen shall elect among themselves a President of said Company, and allow him such compensation as they may think proper, and on all occasions, whenever a vote of stockholders shall be taken, each stockholder shall be allowed one vote for each share owned by him or her, and any stockRatio of voting holder may depute in writing any other person to vote and act for him or her, as his or her proxy.

SEC. 6. Be it further enacted, That the said President

and Directors of said Company shall be chosen annually President, &c. by the stockholders of said Company, and if any vacancy chosen yearly. shall occur by death, resignation, or otherwise of any Pres

filled.

dent or Directors, before the year for which they were Vacancies how elected shall have expired, such vacancy shall be filled by the President and Directors, or a majority of them, and that the President and Directors shall hold their office until their successors are chosen and qualified; shall have power to call meetings of stockholders at any time, and a maPower of re- jority of stockholders shall have power to remove the President or any Directors, and to fill all vacancies occasioned by removals, at pleasure.

moval.

May appoint officers.

SEC. 7. Be it further enacted, That the said President and Directors, or a majority of them, may appoint all such officers, engineers, agents, or servants whatsoever, as they may deem necessary to carry on the business of said Company; dismiss them at pleasure, and a majority of them shall determine the compensation of all officers, engineers, and servants of said Company; shall have power to pass all by-laws which they may deem necessary and proper for exercising all the powers vested in this Company, for carrying into effect the object of this Act: Provided, only, That such by-laws shall not be contrary to the laws of this State or of the United States; and said President and DiMay borrow rectors, or a majority of them, are empowered to borrow money to carry into effect the objects of this Act, to issue

money.

certificates, or other evidences of such loan, and to pledge the property of said Company for the payment of the same, with interest.

1852.

May call for

shares.

SEC. 8. Be it further enacted, That the said President and Directors shall have power to require the stockholders instalments on of said Company to pay such instalments on their respective shares of stock in said Company, and at such times, either in money, materials, labor, provisions, or otherwise, How payments as they may think best for the interest of said Company, may be made. and upon the failure or refusal of any stockholder to pay the instalment required on his, her, or their stock, in pursuance of any call made by said President and Directors as aforesaid, said President and Directors may, upon giving thirty days notice, proceed to to sell at public sale the share or shares of said stock owned by said stockholder, or such part as they may think proper, to the highest bidder, and

if, upon a sale of the shares of stock owned by said default- Forfeiture for ing stockholder, said stock should be sold for more than non-payment. the amount due upon instalments as above mentioned, the excess, after deducting accruing interest, and the necessary expenses of sale, shall be paid over to said defaulting stockholder.

May purchase

land, &c.

SEC. 9. Be it further enacted, That the President and Directors of said Company are hereby authorized to contract for and receive conveyances of lands, stone, lumber, and wood, which may be necessary or required for the construction of said Rail Road, and when the owner and Company cannot agree upon the price, or when the owner is an infant, non-resident, or non compos mentis, or in anywise incapable or unable to manage or attend to his, her, or their own affairs, then it shall be lawful for the President and Directors of said Company to apply to the Sheriff of the County in which said land or other property Damages, how may be situated, who shall summon a jury of seven disin- assessed, wher terested freeholders, a majority of whom shall be author- greed on. ized to assess the damages and return their award of judgment to the next term of the Circuit Court for the County in which said land or other property may be situated, which shall be entered by the Clerk as the judgment of the Court, and execution may issue thereupon for the amount of said judgment and costs: Provided, always, That if either party shall, upon the return thereof, be dissatisfied, they may, upon filing bond, with good and suf- Appeal, how ficient security, in such sum as the Court may order, be taken. allowed an appeal to the next term of the Circuit Court,

price not

1852.

when said case shall stand for trial de novo: Provided, also, Thirty days' notice shall have been given to the opposite party, issued by the Clerk of the Court and served by the Sheriff of the County; and in no case shall such appeal so operate as to delay the progress of the work on said Rail Road.

SEC. 10. Be it further enacted, That the persons summoned as aforesaid, shall, (before proceeding to the disOath of jury. charge of the duties herein required) take an oath or affirmation, which the Sheriff is hereby authorized to administer, to the effect that they will well and truly inquire into and to the best of their judgment assess the damages accruing to the owner or owners of such lands or materials, or lands and materials, by means of the proposed construction; and the said lands or the property so condemned and When prop'rty estimated as aforesaid, shall become the property of said so condemned Company, upon payment of the damages assessed by said to vest in Co. jury: Provided, That said work shall in no wise be delayed on account of the proceedings had as aforesaid.

feiture for.

SEC. 11. Be it further enacted, That in case any person Injuries, for shall wilfully injure or obstruct in any degree the said Road or Roads, he shall forfeit and pay unto the said Company three times the amount of all damages it may sustain in consequence [thereof,] to be sued for and recovered in the same manner as provided by law for individuals in like cases; and on complaint to any magistrate within whose jurisdiction such offence shall be committed, it shall be the duty of such magistrate to bind the person or persons so offending, with sufficient security, for his or their good behaviour for a period of not less than one year; and such offender shall also be subjected to indictment, and shall be sentenced, at the discretion of the Court, to be imprisoned not less than three nor more than six months.

Penalty for.

Tolls.

Limitation.

Road when to

SEC. 12. Be it further enacted, That after the completion of said Road, or any part thereof, the said President and Directors may lay and collect tolls from all persons, property, merchandise, and all other commodities transported thereon: Provided, The nett profit of said Road shall not exceed 25 per cent. per annum; and shall provide convenient passages to travel over said Road, whenever it shall cross a public highway.

SEC. 13. Be it further enacted, That said Company be commenced hereby incorporated shall commence the building of said and completed Road within five years, and complete the same within fifteen years from the passage of this act.