Powers of company.

10. The company hereby incorporated shall have the rights powers and privileges, and be subject to the regulations, restrictions and liabilities specified in chapters fiftytwo and fifty-three of the code of West Virginia, so far as applicable and not inconsistent with the provisions of this act.

Organization 11. Said company may be organized when fifty shares
of company. shall be subscribed to its capital stock; and unless it shall

be organized and commence its proper corporate business
within three years after the passage of this act, this act
shall cease to have effect.

the be sh

an

a

Company to 12. It is expressly provided that when any railroad com-
surrender its
rights and

pany now, or which may hereafter be chartered and organ-
privileges, ized, shall construct a railroad from the Pennsylvania line,
and to trans- or the Baltimore and Ohio or Northwestern Virginia rail-
fer its proper- road, through Lewis county, to Charleston, or any point on
ty at a fair
valuation to the Great Kanawha, or Ohio river, and shall desire to pur-
any compe- chase the track and property of the company hereby in-
ting through corporated, the said "Weston and Clarksburg Railroad

which
runs through Company,” shall sell its track and property to such com-
Lewis county. pany at a fair reasonable value to be agreed upon between

the two companies, if they can agree, and if they cannot
agree, it shall be the duty of the circuit court of Kanawha
county, on the motion of the company desiring to purchase,
to appoint three commissioners, not residents of Lewis
county, to fix upon a fair and reasonable valuation of the
track and property of said “Weston and Clarksburg Rail-
road Company,” and upon the payment or tender of the
sum so fixed by said commissioners to said Westan and
Clarksburg Railroad Company, all the rights, privileges
and franchises of said Weston and Clarksburg Railroad
Company shall cease and be as null as if this act had not

been passed.
When act to 13. This act shall not take effect until the first day of

November next.

take effect.

CHAPTER 188.-AN ACT to incorporate the Steer Creek
Valley and Elk River Railroad Company.

Passed February 28, 1871.
Be it enacted by the Legislature of West Virginia:
Corporators, 1. L. Stump, C. A. Patterson, C. B. Conrad, W. H.

Browning, M. H. Stump and their associates, successors
and assigns, and all who shall become stockholders, when
one thousand shares of the capital stock shall have been
subscribed, as hereinafter provided, are hereby made a

body politie and corporate by the name and style and title Incorporation of “Î'he Steer Creek Valley and Elk River Railroad

.

Company;" provided said subscription shall be made in Proviso. good faith within two years after the passage of this act.

2. The said company is hereby authorized to construct Route of road. a railroad from or near the mouth of Steer Creek, in the county of Calhoun, to some point on Elk River, between the mouth of Little Otter and Duck Creek, tributaries of said Elk River, and to provide every thing necessary for the equipment and use of said railroad.

3. The capital stock of said company shall not exceed Capital stock. the sum of one million five hundred thousand dollars, to be divided into shares of one hundred dollars each, and shall be considered as personal property and transferable ; Shares to be and each share shall entitle the holder thereof, either in personal person or by proxy, to cast one vote in all meetings of the property. stockholders of said company. And, for the purpose of ob- Subscription taining subscriptions to the said capital stock, books may books. 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 times and place or places as the persons who act in that behalf shall deem expedient. And payment may be made for any part of such subscription, either in lands or other property; and said company may receive voluntary dona

Voluntary

donations. tions of land or other property, and hold the same as part of its capital stock.

4. In case the said company shall organize and proceed Authority to to act as a corporate body before the whole amount of receive sub

scriptions capital stock shall have been subscribed, the president after organiand directors shall have power to receive further sub-zation. scriptions. And it may be lawful for bodies corporate and Authority for politic to subscribe for and be owners of the capital stock, rate and polior any part thereof of said company.

5. Whenever one thousand shares of the said capital Organization stock shall be subscribed for, the said company may be of company. organized by the election of seven directors, who from Election of their own number may elect a president and vice-presi- officers. dent, and may appoint and provide for the necessary officers of said company. The said president and directors shall have power and authority to conduct all the Powers of

president and business of said company; to borrow money for its use; directors. to execute deeds of trust or mortgages on its property in order to secure the payment of all its debts, contracts or liabilities, or any of them.

6. The first meeting of the stockholders of said com- First meeting pańy shall be held at Stumptown, in the county of Gil- of the stockmer, and all subsequent meetings at such stations upon the line of said road as the directors from time to time may appoint. And the said stockholders shall have

bodies corpo

tic to take stock.

tors.

Place of meet- authority at their first meeting, or at any subsequent ing of direc- meeting, to fix and determine the place of meeting of the

directors, and the principal office of said company. Quorum. 7. A majority of the directors shall constitute a

quorum.

8. The said company may and shall have full power and Branch roads.

authority to locate, construct and maintain any branch
railroad, or railroads, not exceeding twenty-five miles in
length, to any coal, timber, oil, or other lands owned by

the company. . Bondholders,

9. The stockholders of said company may admit the how admitted bondholders under any mortgage authorized by the comto representa- pany to representation in the meetings of the stockholders.

10. The property of said company shall be exempt from. Property ex

taxation until its net revenue may pay eight per cent. taxation,

upon its capital stock. Charter sub

11. This charter shall be subject to chapters fifty-two ject to chap-, and fifty-three of the code of West Virginia, so far as the

provisions of the same are applicable thereto and conof the code.

sistent with this act. Act amenda

12. The legislature reserves the right to alter or
ble, but not so amend this act, but such alterations or amendments shall
as to impair
vested rights. not affect the right of the creditors of the corporation to

have the property and the assets thereof applied in dis-
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 company distributed among
themselves according to their respective interests.

lege boce ata bel pin 110) Bu

empt from

ters 52 and 53

CHAPTER 189.-AN ACT to incorporate the Twelve Pole

Land, Lumber and Boom Company.

Passed February 28, 1871.
Be it enacted by the Legislature of West Virginia:
Corporators.

1. Z. D. Ramsdell, S.J. Ferguson, H. Spurlock, George
W. Parsons, Jr., J. M. Ferguson, Hawkins Cole, C. B.
Webb, H. C. Duncan, Milton Sheldon, C. B. Hoard, C. W.
Ferguson and L. C. Queen, and their representatives, as-
signs and such other persons as may be associated with

them, shall be and they are hereby constituted a body Incorporation politic and corporate by the name of the Twelve Pole Land,

Lumber and Boom Company, and by that name shall have
succession, shall sue and be sued, plead and be impleaded,

make and use a common seal, and pass by-laws for the privileges of government of their said company, so that the same are not corporation. repugnant to the constitution and laws of this state, and the

constitution of the United States.

Powers and

booms on

2. The capital stock of said company shall not be less Capital stock. than twenty thousand dollars, to be divided into shares of one hundred dollars each, and may at any time hereafter Shares. be increased by the vote of the stockholders. to an amount not exceeding five hundred thousand dollars, and for the purpose of obtaining subscriptions to the capital stock or so much thereof as may be necessary for the lawful purposes of said corporation; books shall be opened under the

Subscription direction of the persons named in the first section of this books. act at such times and places as the persons who act in that capacity may deem expedient.

3. The said corporation shall have the exclusive privi- Exclusive lege of constructing and maintaining a substantial boom or privilege of booms with or without piers, across the Twelve Pole river constructing. at any point or points above the mouth of said river, and Twelve Pole below the mouth of Buffalo creek, for the purpose of stop-river. ping and securing boats, rafts, and every kind and description of valuable timber, manufactured or unmanufactured. But such boom or booms shall be so constructed as to permit boats and rafts to pass them without material delay, and without paying toll, boomage or other charges, and may erect shear booms on said river, and may dredge and clear the channel of said river and the main branches thereof, and remove obstructions therefrom, and may build saw mills and other mills for manufacturing lumber, and manufacture and sell lumber, and construct tram railways, subject to the provisions of the code.

4. The said corporation are authorized and empowered Authority to to purchase and hold lands, to sell and convey real estate, deal in lumber and to engage in mining and manufacturing, and to erect and construct

tram railways and maintain wharves on said Twelve Pole river, subject to the provisions of the code concerning places of deposit, sale and shipment.

5. The said corporation may, by reason of its compli- Rates of toll ance with this act, charge and collect toll or boomage at and boomage. the rate of fifty cents per thousand feet board measure for all square timber, saw logs, boards, planks and other timber that may be floated, rafted or drifted into said boom and stopped and retained by said boom or by any other logs or other timber in said boom. The said corporation shall have a lien on all saw logs and other timber and lum- Lien for toll

or boomage. ber thus boomed for the payment of all toll on boomage and other expenses until the same shall be paid, and may hold the same subject thereto as provided in section six of this act.

6. That if any timber shall have been boomed securely timberlin as aforesaid, and no person shall appear to claim the same booms may and pay the tolls thereon within twenty days, it shall be be sold for lawful for the corporation, after advertising the same for after notice.

a

Unclaimed

two weeks in a newspaper published in the county of
Wayne, or by posting the same for two weeks at three
public places in Ceredo, with the marks thereon, to sell
said lumber or timber to the best advantage, if no owner
appear to claim the same, and at any time within one year
from said sale the owner shall be entitled to receive the
proceeds thereof, after deducting the taxes, expenses and

necessary charges, but if not claimed within one year the How proceeds proceeds shall inure to and be vested in said corporation disposed of.

for their own use. Penalty for

7. That if any person or persons shall wilfully or maliinjuring com- ciously injure or destroy any of said booms, or piers

, or or defacing

other works connected therewith, or shall remove, alter or marks on logs. deface any mark or marks on any logs or other timber intended for said boom, he shall pay treble damages

, to be recovered by an action of trespass, brought in the name of said corporation before a justice of the peace, or any of the courts of the county in which he or they shall reside,

and said person or persons so offending may also be subPunishment ject to an indictment in the circuit court for the county for injury to wherein the offense was committed, and, upon conviction company's

thereof, may be punished by fine and imprisonment, at the works.

discretion of the court.

pany's works

bar or

Measurement 8. That all timber in said boom shall be counted and
of timber,

measured, and the quantity ascertained by some compe-
tent person or persons, to be appointed by the company

and confirmed by the circuit court of Wayne county. Penalty for

9. That should any boards, logs or other timber belongconverting., ing to said corporation, or in their custody, be carried by timber carried

the winds, by the force of the current, or otherwise, into
away by
winds or any bays, creeks, caves, or upon the shore, or any
current.

flat lands, it shall be a penal offense for any person, or
persons, except the owners thereof, to take possession of

,
sell, or convey to his or their own use, said logs or timber,
punishable as provided in the seventh section of this act.
The corporation shall not be liable for any loss or damage that
may be caused by fire or flood, or by the unlawful acts of
any person or persons not in their employ.

10. That nothing in this act shall be so construed as to mill property mot' prevented deprive the owners of mill property on the said river

, or from recover- branches thereof, from receiving damages for injury to ing damages. their property by the said corporation, their agents or

employees.

Owners of

and 'timber."

Meaning of 11. Wherever the words logs or timber occur in this
words " logs”, act they shall be taken to mean logs and timber of every

kind and description, manufactured or unmanufactured.
Nothing herein contained shall give the right to the cor-