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Session Laws, 1828, 1829
Volume 540, Page 152   View pdf image (33K)
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DANIEL MARTIN, ESQUIRE, GOVERNOR.

1828

therefor; and the president and directors shall forthwith so
reduce the charge or rate of transportation as to bring the
said clear profits down to the said rate of ten per centum
per annum; the said president and directors of the said
company shall at the end of two years next after the said
rail road shall have been completed, and in operation, and
at the end of every second year thereafter, lay before the
general assembly of this state, an abstract of their accounts,
verified by the oaths of said president and the secretary,
shewing the whole amount of their capital and of the
profits and income arising from said road, to the said com-
pany, for and during the respective periods, together
with an exact account of the costs and charges, to the
end that the clear annual income and profits thereof may be
ascertained and known, and the right of the general assem-
bly to appropriate, to the use of the state, any excess of pro-
fits in lieu of the reduction of tolls over and above the clear
annual profits of ten per centum allowed by this act to the
said company, is hereby reserved ; provided, that such ap-
propriation, upon the part of the state, at no time exceed
ten per centum upon the amount of the costs of the con-
struction of said road.

CHAP. 139.

Sec. 16. And be it enacted, That if any person or per-
sons shall wilfully, by any means whatsoever, injure, im-
pair or destroy, any part of any rail road constructed by
said company under this act. or any of their necessary
works, buildings, carriages, machines or vehicles, such
person or persons, so offending, shall, each of them, for
every such offence, forfeit and pay to thesaid company any
sum not exceeding five hundred dollars, which may be re-
covered in the name of said company, by an action of debt
in the county court wherein the offence shall be committed,
and also be subject to indictment in said court, and upon
conviction of such offence, shall be punished by fine and
imprisonment, in the discretion of the court.

Penalty for injur-

ing any part of

road &c

Sec. 17. And be it enacted, That if at the end of two
years after the said road shall be completed from the be
ginning to the end thereof, it shall appear, from the average
profits of the said two years that the said income and profits-
thereof will not bear a dividend of six per centum per an-
num on the whole capital stock of the said company ex-
pended in the construction thereof, then it shall and maybe
lawful to and for the said president and directors to increase
the tolls hereinbefore allowed, so much upon each and eve-
ry allowance thereof as will raise the dividends to six per

Tolls may be in-

creased

centum per annum; Provided however, that said tolls shall
in no event be increased more than fifty per centum on their
amount as fixed by this act; And provided nevertheless,
that it shall be the duty of said president and directors,

Proviso



 
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Session Laws, 1828, 1829
Volume 540, Page 152   View pdf image (33K)
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