1844.

THOMAS G. PRATT, ESQUIRE, GOVERNOR.

CHAP. 233.

Valuation of
property.

ty taken or the bounds of the land condemned, and the
quantity or duration of the interest in the same, valued for
the company, and such valuation when paid or tendered to
the owner or owners of said property, or his, her, or their
legal representatives, shall entitle the said company to the
estate and interest, in the same thus valued, as fully as if it
had been conveyed by the owner or owners of the same, and
the said valuation if not received when tendered, may at any
time hereafter be received from said company without
costs by the owner or owners, or his, her, or their legal
representatives.

Rate of
charges.

SEC. 14. And be it enacted. That the said board of
directors or a majority of them, may charge upon goods,
coal, produce, merchandize or property of any kind trans-
ported by them along said works, tin: following rates, viz:
on all coal, ore. and produce, three cents a ton per mile, on
lumber, bark and staves, six cents a ton per mile, and it
shall not be lawful for any person or persons to travel upon
or use said works and improvement, without the license of
said board of directors or a majority of them, and that the
said works, improvements, machinery and profits are hereby
vested in said company thus incorporated, and their succes-
sors forever, and the shares of the capital stock of said
company shall be deemed personal estate.

Board of di-
rectors to de-
clare dividend.

SEC. 15. And be it enacted, That the said board of di-
rectors, shall once in each year or semi-annually, declare
and make such dividend as they may deem proper of the
nett profits arising from the resources of the said com-
pany, first deducting the current and probable contingent
expenses, and shall apportion the same amongst the stock-
holders in proportion to their respective shares.

Organize after
forty shares
have been sub-
scribed.

SEC. 16. And be it enacted, That it shall and may be
lawful for the said company to organize, by electing a
president and directors, and to proceed in accomplishing
the objects of this incorporation at any time after forty
shares have been subscribed.

Issues forbid.

SEC. 17. And be it enacted, That nothing in this act
contained, shall be construed as to authorise said compa-
ny to issue any note, token, scrip, certificate or other
evidence of debt, to be used as a currency.

In force thirty
years.

SEC. 18. And be it enacted, That this act shall remain in
force for thirty years, unless sooner repealed by the Gen-
eral Assembly.