682 CORPORATIONS. [ART. 23

1888, art. 23, sec. 235 1868, ch. 471, sec. 108.

345. When any turnpike, or plank road or passenger rail-
way, shall have been finished one mile in length, the president
and directors shall report to the county commissioners of the
county in which it may lie, under the oath of the president
and a majority of the directors, and the treasurer of the cor-
poration, the actual cost of said road, so far as finished; and
thereupon the c6unty commissioners shall appoint three citizens
of the county to examine said road, and determine whether
the same is constructed in such manner as will subserve the
public interests for the uses to which said road is applicable,
who shall report to said county commissioners in writing, and
said report shall be reviewed by said county commissioners ;
and if they shall determine that the road is properly con-
structed, then as to such turnpike or plank road the company
shall be authorized to erect a toll-gate thereon, and to charge
such rates of toll as will yield eight per centum per annum
net profit on said actual cost, for distribution to the stock-
holders; and the same proceedings shall be had as each suc-
ceeding mile shall be completed, until the said turnpike, or
plank road, or passenger railway, shall be finished; but when
more than one mile of any turnpike or plank road shall be
completed, it shall not be necessary for the corporation to
erect more gates than it may deem convenient; and it shall be
empowered to collect at the gate or gates which may be
erected, tolls to yield at the rate aforesaid, for the number of
miles of said road or turnpike which may be finished.

Ibid. sec. 236. 1868, ch. 471, sec. 109.

346. The corporation of any such turnpike or plank road,
shall revise it rates of toll every six months for three years,
from the completion of the road, and shall report the amounts
of its revenue and expenditures at any time when demanded
by the county commissioners; and if the receipts shall be
found at any time to amount to more than is necessary to
yield eight per centum per annum, net, to the stockholders, the
tolls shall be reduced to that standard. In all cases, the rates
of tolls chargeable shall be specified and approved in writing
by the county commissioners, and shall be, as nearly as may-
be, such rates as will yield the said dividend and no more;
and such writing shall be recorded in the office of the county
commissioners, and also in the journal or book of proceedings
of the corporation, and copies thereof shall be printed and