Incorporation

road.

Bennett, John Brannon, Henry Brannon, William J. Bland, Mathew W. Horner, Richard P. Camden, William L. Dunnington, A. E. Sweeny, Levi Johnson, Henry C. McWhorter, George Jeffreys, Henry C. Dickinson, Philip Gallagher, James Gillolan, L. G. Huling, Benj. W. Byrne, Edward Cameron, Edward Blanchard, Henry Brockerhoff, James O. Watson, Hiram J. Lynch, James Lynch, Ulysses N. Smith, William D. Rollyson, Felix J. Baxter, Addison McLaughlin, William A. Quarrier, James Morrow, Jr., William B. Ice, Peregrine Hays, Samuel A. Miller, Benj. H. Smith, John F. W. Holt, James M. Laidley, J. B. Walker and John Dryden, and their associates, successors and assigns, and all who shall become stockholders when three thousand shares of the capital stock shall have been subscribed as hereinafter provided, are hereby made a body politic and corporate by the name and style and title of "The Northern and Southern West Virginia Railroad Company," provided said subscriptions shall be made in good faith within three years after the passage of this act.

Authority to 2. The said company is authorized to construct a railconstruct rail- road from some point on the Pennsylvania line, in the county of Monongalia, via Morgantown, Fairmont, ClarksRoute of road. burg, Weston and Charleston, to some point on the Kentucky state line, in the county of Wayne. The said company shall have power to construct as much of said railroad as their capital stock may allow, and shall have all the rights, benefits, privileges, and be subject to all the duties and responsibilities provided for and declared in chapters fifty-two and fifty-three of the code, so far as the subject to code same are applicable to railroad companies, and not inconsistent with the provisions of this act.

Company

Capital stock.

How stock voted.

books.

3. The capital stock of this company shall not exceed ten millions of dollars, to be divided into shares of one hundred dollars each, and shall be considered as personal property, and transferrable; and each share shall entitle the holder thereof, either in person or by proxy, to cast one vote in all meetings of the stockholders of said company. And, for the purpose of obtaining subscriptions to Subscription the said capital stock, books may be opened under the direction of the persons named in the first section of this act, or any three or more of them, at such time and place or places in or out of this state as the persons who act in that behalf shall deem expedient, and payment may be made for any part of such subscription, either in land or other property, and the said company may receive voluntary donations of land or other property, and hold the same as part of its capital stcck; provided, however, that said company shall not hold or possess more than five hundred thousand acres of land as a subscription to its capital

Donations.

Proviso.

stock; and, provided further, that all of such land so subscribed shall be located in this state.

tual cash

4. The land so subscribed as stock shall be received at Land to be its actual cash value at the time of subscription, and shall taken at acbe sold and conveyed to actual settlers only within ten value, and years after the completion of said road from Charleston to sold to actual the Pennsylvania state line, such conveyances to be execu- settlers. ted by the president under the authority of the 'board of directors. And, in case the said corporation shall organize Subscriptions and proceed to act as a corporate body, before the whole after organiamount of capital stock shall have been subscribed, the president and directors shall have power to receive further subscriptions. And it shall be lawful for bodies cor- Subscriptions porate and politic, with their principal officers in or out of by corporathis state, to subscribe for and be owners of the capital stock, or any part thereof of said company.

zation.

tions.

officers.

5. Whenever one thousand shares of the capital stock Election of shall have been subscribed for, and ten per cent. of each directors and subscription actually paid, the said company may be organized by the election of nine directors, who, from their own number, may elect a president and vice-president, and may appoint and provide for the necessary officers of said company. The president and directors shall have power and authority to conduct all the business of said company, directors. borrow money for its use, and to execute deeds of trust or mortgage on its property in order to secure the payment of all its debts, contracts, or liabilities, or any of them.

Power of

holders.

6. The first meeting of the stockholders of said com- First meeting pany shall be held at Clarksburg, in the county of Harri- of stockson, and all subsequent meetings at such place or places either in or out of this state, as the directors may from time to time appoint. And the said stockholders shall have authority, at their first meeting or any subsequent meeting, to fix and determine the place of meeting, in or Principal out of this state, of the directors, and the principal office office. of said company; provided, however, that the stock held Proviso. within West Virginia shall always be represented by directors resident in the state, in the proportion of the stock held within the state to the whole stock of the company. The president, officers and agents, and a proportionate number of directors may be residents of another state.

7. The said company may and shall have full power and Branches. authority to locate, construct and maintain any branch railroad or railroads not exceeding twenty miles in length, and shall have power to connect their said railroad or any branch thereof with any railroad or railroads that are or may be constructed on or near or across the route of its

Representation of bond

road or branches. No company whose road shall be so crossed or connected with, shall discriminate in its charges or otherwise against the trade or travel of the road hereby authorized to be constructed, which limitation and restriction shall apply with equal force in favor of roads so crossed or connected with.

8. The stockholders of the said company may admit the bondholders under any mortgage authorized by the comstockholders' pany to representation in the meetings of the stockholders and determine the ratio of votes to be cast by them.

holders in

meeting.

Exemption

9. The property of the said company shall be exempt from taxation. from taxation until its net earnings exceed ten per centum upon its capital stock.

not so as affect

Act may be 10. The legislature reserves the right to alter or amend amended but this act, but such alteration or amendment shall not affect the rights of or impair the right of the creditors of the corporation to creditors or have the property and assets thereof applied in the disstockholders. charge of their respective claims, or of the stockholders to have the surplus which may remain after providing for the debts and liabilities of the corporation distributed among themselves according to their respective interests.

time within

work of con

Limitation of 11. The work of constructing said road shall be commenced within two years from the passage of this act and which the completed within ten years from commencement, and unstruction is to less the same be so commenced and completed within said be commenc- time, all the rights and franchises herein conferred shall ed and com. be forfeited. pleted.

CHAPTER 171.-AN ACT to provide for the settlement of the accounts of certain officers and persons for school monies in their hands, or under their control.

Passed February 28, 1871.

Be it enacted by the Legislature of West Virginia: Committee to 1. The general superintendent of free schools, on the settle the ac- fifth day of March next, or as soon thereafter as practicable, tain officers. if he deem it proper, may appoint in any one or more coun

counts of cer

who

ties two suitable persons, who, together with the county superintendent of free schools, shall constitute a committee whose duty it shall be to examine into and settle the accounts, vouchers, records and papers of any board or boards of education, township treasurers, independent school district treasurers, sheriffs, or any other officer or person heretofore or hereafter has had or may have in his or their hands, or under their control, any school monies belonging to any township, or independent school district, at any time since the organization of this state; said committee shall give to the board, officer or person with whom a set

officers.

mittee of such

Examination

tlement is to be made, at least ten days' notice, in writing, Notice to such of the time and place at which a settlement is proposed to bé made, and it shall be the duty of such board, officer, or person to appear before the said committee at the time and Appearance place appointed, with a full and complete statement of all before comsuch monies which may have come to their hands, or with officers. which they are chargeable, and with all books, records, papers, and vouchers in their possession or under their control, in relation to such monies, and file the same with said committee. Said committee may examine under oath any under oath. person appearing before them in pursuance of such notice, and any other witness which they may deem necessary or Who may adproper, and for this purpose any member of the said board, minister or the clerk of the board of supervisors may administer an oath. oath to any such person, officer or witness. If any such Failure to apboard, officer or person shall fail to appear in pursuance of pear in pursuch notice, and said committee shall be able to make a notice. correct statement of the accounts and liabilities of such board, officer or person, without such appearance, it shall be their duty to do so. The said committee may summon Power of and compel the attendance of witnesses before them, and committee to for this purpose they shall have all the powers of a court dance of of record.

suance of

compel atten

witnesses.

be returned to

make settle

2. When any such settlement shall be completed by said Settlement to committee, it shall be returned to and filed with the clerk clerk of the of the circuit court, and upon the failure of any person found circuit court. to be in arrears for any such monies as aforesaid to pay the Failure of any same to the sheriff of the county, or to such other officer as person found the court may direct, the same may be recovered of him and in arrears to his sureties by motion, in the name of the township or inde-ceeded against pay; how propendent school district, in such court, upon ten days' notice that such motion will be made. But in case said commit- Inability of tee shall be unable, by reason of the failure of any such committee to board, officer or person to appear before them, in pursuance ment for want of such notice or to produce to them any book, record, of evidence. voucher, account, or other necessary paper or statement, to make such settlement, it shall be their duty to file their petition in the circuit court of their county, or with the To proceed clerk thereof in vacation, against any one or more of such petition in boards, officers, and persons, and their securities, where they have any, as they may deem necessary and proper to compel such settlement, and thereupon a summons shall issue against the defendants in said petition, to appear and answer the same at the next term of the circuit court of the said county; which summons may be served in the same manner as any other summons issued by the clerk of the circuit court may by law be served; and such proceedings in said petition may thereafter be had as in a suit in chancery regularly brought in such court for the settlement of any account.

circuit court.

Hearing of 3. Upon the hearing of such petition, the court may such petition. make any and every such order or decree as may be just, against any one or more of such boards, officers or persons, and against their securities if they have any, and may fix and settle the sum or sums to be paid by any such board, officer or person, and the securities of such officer or person, if he have any, either separately or jointly, according as they may be liable; and may enforce the payment of any such sum or sums by execution or by imprisonment of the parties for a failure to pay at such time as the court may order. The court may also make such order or decree as to the costs as may be right and proper; provided, that no decree for costs shall be made against the committee filing such petition.

Clerk of the

mittee.

4. The clerk of the board of supervisors shall be the board of su- clerk of the said committee, and he and each member of pervisors to be clerk of com- said committee shall receive for his services a sum not exceeding two dollars per day for each day actually and necessarily employed in the discharge of his duties, to be audited by the board of supervisors, and paid out of the .county treasury.

Corporators.

CHAPTER 172.—AN ACT to incorporate the Ohio River and Wayne County Mineral and Railway Company. Passed February 28, 1871.

Be it enacted by the Legislature of West Virginia:

1. Z. D. Ramsdell, Charles B. Webb, G. G. Burgess, Joseph Ferguson, Abel Segur, A. C. Handley, William Shannon, M. Garrett, Milton Shelden and G. W. Parsons, Jr., of West Virginia; Milton J. Ferguson and G. W. Gallup, of Kentucky; and C. B. Hoard and Charles Duval, of New York, and such other persons as may be associated with them, in the manner hereinafter provided, shall be, and they are hereby constituted a body politic and corporate by the name of "The Ohio River and Wayne County Incorporation Mineral and Railway Company," and by that name shall have succession, and may sue and be sued in any court whatever, and may have and use a common seal, and shall have the powers, rights and franchises necessary and proper for carrying on the mining of coal and iron, the building of manufactories, saw-mills and furnaces, the manufacturing of lumber, and the buying and disposing of the same; together with the right to buy and sell real estate or the mineral on land, the transportation of coal and other property to market, and shall have power and authority to make and pass such by-laws, rules and regulations for the management and government of the affairs of said corporation and its officers and agents as may be deemed necessary or proper, and to amend or repeal the same at any regular

Powers of corporation.