An act to incorporate the Chicago and Danville Rail Road Company:
Sec[Section]. 1. Be it enacted by the people of the State of Illinois, represented in the General Assembly, That Ephraim K. Hubbard, George W. Dole, Walter Newbery, Gurdon S. Hubbard, George W. Cassiday, Hezekiah Cunningham, Charles L. Galusha and Samuel McRoberts, and their associates, successors, and assigns, are hereby created a body corporate
and politic, under the name and style of the Chicago and Danville Rail Road Company for the term of sixty years; and by that name may be and they are hereby made capable
in law and equity to sue and be sued, plead and be impleaded, defend and be defended,
in any Court or Courts of record; to make, have, and use a common seal, and the same
to renew and alter at pleasure; and shall be and are hereby vested with all the powers,
privileges, and immunities which are or may be necessary to carry into effect the
purposes and objects of this act as hereinafter set forth; and the said company are hereby authorised and empowered to locate, construct, and finally complete a
Railroad from the
South
Branch
of
the Chicago River,
at
the
point
where
the
Illinois
and
Michigan
Canal
leaves
it, to Danville, at the Depot, of the Northern Cross Rail Road, upon the most eligible and convenient
rout; and said corporation is hereby authorised to join and connect with the northern Cross Railroad, and for
this purpose the said company are authorised to lay out their said road wide enough for a double or single track
through the whole length; and for the purpose of cutting embankments, stone, and gravel,
may take as much more land as may be necessary for the proper construction and security
of said railroad: Provided, All damages that may be occasioned to any person or corporation, by taking such
lands or materials for the purpose aforesaid, shall be pai[d]
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for by the company in the manner hereinafter provided.
Sec. 2. The Capital stock of said company shall consist of one million ^five hundred thousand^ dollars, to be divided into shares of One hundred dollars each ^which stock shall be transferable under the regulation of said Company^. The immediate government1 and direction of said company shall be vested in five directors, who shall be chosen by the stockholders of said
company in the manner hereinafter provided, who shall hold their offices for one year after
their election, and until others shall be duly elected and qualified to take their
places as directors: and the same directors, a majority of whom shall form a quorum
for the transaction of business, shall elect one of their numbers president of the
board, who shall also be the the president of the company.
Sec. 3. The said corporation is hereby authorised by their agents, surveyors, and engineers, to cause such examinations
and surveys of the ground and country to be made between said points as shall be necessary
to determine the most advantageous rout for the proper time or course whereon to construct
their said railroad; and it shall be lawful for the said corporation to enter upon, and take possession of, and use all such lands and real estate as
may be necessary to the construction and maintainance of their said railroad, and
the accommodations requisite and appertaining to the same; and may, also, hold all
such lands as they may purchase or receive in any manner for the necessary purposes
of said road: Provided, That all lands or real estate entered upon, and taken possession
of, and used by said corporation for the purposes and accommodations of the said railroad, or upon which the site
for the said railroad shall have been located or determined by the said corporation, shall be paid for by the said corporation in damages, if any be sustained by the owner or owners thereof, by the use of the
same for the purpose of said railroad; which damages shall be ascertained in the same
manner that damages are
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ascertained in the case of Public roads running through the lands of individuals,
some one of the directors acting in the stead of the supervisor of the general road
law.
Sec. 4. If any person shall wilfully, maliciously, or wantonly, and contrary to law,
obstruct the passage of any car on said railroad, or any part thereof, or any thing
belonging thereto; or shall damage, brake, or destroy any part of said railroad, or
implements or buildings, he, she, or they, or any persons assisting, shall forfeit
and pay to said company for every such offence treble the amount of damages that shall be proved before any
court competent to try the same, to be sued for in the manner and behalf of said company; and such offender or offenders shall be deemed guilty of a misdemeanor, and shall
be liable to an indictment in the same manner as other indictments are found in any
County of Counties where such offence shall have been committed; and upon conviction,
such offender or offenders shall be liable to a fine not exceeding one thousand dollars,
for the use of the County where such indictment may be found.
Sec. 5. The time ^and place^ of holding the annual meetings of the said company, for the election of directors, shall be fixed and be determined by the by-laws of
said company, and at all meetings each stockholder shall be entitled to vote, in person or by
lawful2 proxy, one vote for each share he, she, or they may hold in said stock.
Sec. 6. Ephraim K. Hubbard, George W. Dole and George W. Cassiday, are hereby appointed Commissioners to open subscription books for the stock of said
Company; and said Commissioners or a majority of them, are hereby authorised to open subscription
books for such stock, at such places as they may deem [pro]per and shall give at least thirty days’ notice [of the] times and places when and where such books [are to be]
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opened, ^in^ any papers printed in the cities where [?] books are opened, and shall keep said books o[pen] at least ten days, unless the whole amount of capital stock shall be subscribed before
the expiration of the said ten days; and they shall require each subscriber to pay
five dollars on each share subscribed, at the time of subscribing; and at the expiration
of the said ten days, if the whole of the said capital stock shall be subscribed,
the said commissioners shall call3 a meeting of the stockholders by giving ten days’ notice in a newspaper printed in
Springfield; and at such meeting it shall be lawful to elect the directors of the said company, and when the directors of said company are chosen the said Commissioners shall deliver said subscription books, together
with all sums of money received by them as such Commissioners, to said directors;
Provided, That no person shall be a director unless he shall own at least five shares of the
capital stock. Said company is hereby authorised to borrow any sum of money not exceeding their capital stock,
and to make all such contracts as said corporation may deem necessary to carry into effect the powers and privaleges hereby granted.
Sec. 7. That the rights of way and the real estate purchased for the right of way by
said company, whether by mutual agreement betwen the said corporation and the owner or owners of said land or real estate, or which shall become the property
of the said company by operation of law as is in this act provided, shall, upon the payment of the amount
belonging to the owner or owners of such lands, as a compensation for the same, become
the property of said corporation, absolutely and in fee simple.
Sec. 8. The Legislature reserves to itself the right
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to purchase the stock of said company at any time, by paying the amount actually expended thereon, with the interest at
the rate of six per cent. per annum; and for the purpose of ascertaining the value thereof, the Legislature
may appoint two or more Commissioners, who, being duly sworn, shall proceed to ascertain
by inspection and the oath of witnesses, the actual value of the road, fixtures, apparatus,
and cars as aforesaid. The Corporation may take and transport on the said railroad any person or persons, merchandize, or other property, by the force and power of steam, or animals, or any combination
of them; and may fix and establish, take and receive such rates of toll for all passengers
and property transported upon the same, as the directors shall from time to time establish;
and the directors are hereby authorised and empowered to make all necessary rules
and regulations, by-laws and ordinances, that they may deem necessary and expidient to accomplish the designs and purposes, and to carry into effect, the provisions
of this act, and for the transfer and assignment of its stock, which is hereby declared
personal property, and transferable in such manner as shall be provided for by the
by-Laws and ordinances of said Corporation.
Sec. 9. Said Company shall transport the United States mail upon the whole line of said road, whenever
required by the Postmaster General; Provided, That if the Postmaster General and the company shall be enable to agree upon the compensation to which said company shall be entitled, The Postmaster General may choose one person and said company shall choose a third another, who, should they be unable to agree upon the compensation to which said
company shall be entitled, shall choose a third person, and the compensation fixed by them
or a majority of them, shall be
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binding upon said company.
Sec. 10. If the said company shall not commince the work within three years from the passage of this act and complete within eight
years, then this act shall thenceforth cease and be void.
Sec.
11
In
time
of
war
said
Corporation
shall
carry
all
Munitions
of
war,
free
of
charge, which
they
may
be
required
to
carry, by
this
State
or
the
United
States.
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[ docketing
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[ docketing
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A Bill for An act to incorporate the Chicago and Danville Railroad Company.
Handwritten Document, 8 page(s), Folder 231, HB 285, GA Session: 11-1,
Illinois State Archives (Springfield, IL),