tracts aforesaid, which said Middletown railroad company are hereby authorized to make as aforesaid.

SEC. 4. The provisions of this act, so far as they relate in any way to any other railroad company or companies aforesaid, shall take effect and become operative in manner aforesaid, whenever hereafter the same shall have been assented to by the stockholders of such company or companies, at a meeting thereof called and warned for that purpose, and not othewise.

SEC. 5. This act may be altered, amended or repealed, at the pleasure of the General Assembly.

AUTHORIZING NEW LONDON, WILLIMANTIC AND PALMER RAILROAD COMPANY TO ISSUE BONDS, AND Extending TIME FOR COMPLETION OF THEIR ROAD.

Upon the petition of the New London, Willimantic and Palmer railroad corporation, praying for alterations in their charter as per petition on file :—

SEC. 1. Resolved by this Assembly, That the New London, Willimantic and Palmer railroad corporation be, and they hereby are allowed the further period of one year from and after the time originally prescribed and limited, within which to expend the sum of one hundred thousand dollars between the towns of New London and Norwich, and one hundred thousand dollars between Norwich and Willimantic, as required by their charter.

SEC. 2. That it shall be lawful for the directors of said New London, Willimantic and Palmer railroad corporation, from time to time, to borrow such sum or sums of money, not exceeding in the whole the sum of five hundred thousand dollars, as to said directors shall seem necessary and proper, for the completion of their road and the purchase of materials, locomotives, cars, lands, and the erection of

warehouses, workshops and other necessary buildings, at a rate of interest not exceeding seven per cent. per annum ; and for securing the repayment of monies so borrowed, full power and authority is hereby granted to the said directors to pledge, or hypothecate by way of bond, with or without seal, mortgage, trust, or otherwise, the railroad by them owned or constructed or to be constructed under their charter, or any portion or portions of the same, with any or all. its privileges, appendages, appurtenances, implements, cars, engines and personal estate, and other property, franchises and chartered rights of said company; and said company shall be allowed to retain possession of all such property so pledged, hypothecated or mortgaged as aforesaid; provided the deed or deeds of the same shall be deposited for record in the office of the Secretary of this State, whose duty it shall be to record the same. The said bonds may be issued and negotiated from time to time, as occasion shall require, and such pledge, hypothecation, bond, mortgage and trust, shall be valid for securing the due payment of any sum or sums of money so borrowed, with the interest thereon accruing, and which the same shall be given to secure; and in case of default made in the payment of monies so borrowed or secured, the person or persons, body politic or corporate, their legal representatives, successors and assigns, claiming under said pledge, hypothecation, bond, mortgage or trust, may by due process of law, acquire, have, hold, use, occupy and enjoy the said road with its appurtenances, implements, and property of said company, and take and receive the tolls, rents, issues, profits and advantages thereof, during the continuance of said charter, in as full and ample a manner as the stockholders of said company could or might have had, used and enjoyed the same, subject nevertheless, to all the restrictions, limitations and conditions contained in the act incorporating said company, and the amendments thereto.

DANBURY AND NEW YORK RAIL ROAD COMPANY.

SEC. 1. Resolved by this Assembly, That Samuel Tweedy, Aaron Seeley, Frederick S. Wildman, Russel Hoyt, Eli T. Hoyt, Edgar S. Tweedy, Nathaniel H. Wildman, Aaron Turner, William Montgomery, Barnabas Allen, with such other persons as shall associate with them for that purpose are constituted a body politic and corporate, by the name of Danbury and New York Railroad Company, and by that name to sue and be sued, plead and be impleaded in any court in this state, to make and have a common seal and the same to break, alter or renew at pleasure. And the company is hereby vested with all 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 said company is hereby authorized and empowered to locate, construct and finally complete a single, double or treble railroad or way, in the town of Danbury, thence in a westerly or southwesterly direction to the line of the state of New York, within said town of Danbury or the town of Ridgefield, in such route as shall be deemed most expedient, and to transport, take and carry property and persons. upon said railroad or way, by the power and force of steam, of animals or of any mechanical or other power, or of any combination of them which said company may choose to apply. And for the purpose of constructing said railroad or way, the said company is hereby authorized to lay out their road not exceeding six rods wide, through the whole length, and for the purposes of cuttings and embankments, and for the purpose of necessary turn outs, and for obtaining stone and gravel, may take as much more land as may be necessary for the proper construction and security of said road,-with permission also, to make any lawful contract with any other railroad corporation in relation to the busi

ness of said company, and also to make joint stocks with any other railroad corporation : provided, that all damages that may be occasioned to any person or corporation, by the taking of any such land or materials aforesaid, for the purpose aforesaid, shall be paid for by said company, in manner hereinafter provided.

SEC. 2. That the capital stock of said company shall be two hundred and fifty thousand dollars, with the privilege of increasing the same to five hundred thousand, dollars, and to be divided into shares of one hundred dollars each, which shares shall be deemed personal property, and be transferred in such manner and at such places as the bylaws of said company shall direct.

SEC. 3. That the persons named in the first section hereof, or a majority of them, shall open books to receive subscriptions to the capital stock of said company, at such times and places as they or a majority of them may appoint, and shall give such notice of the times and places of opening such books as they may deem reasonable, and shall receive said subscriptions, under such regulations as they may adopt for the purpose; and if more than two thousand five hundred shares of stock shall be subscribed, they shall have the power to make the shares so subscribed the capital stock of the company, provided, they shall not exceed five thousand shares; and if they shall exceed five thousand shares, the same shall be reduced and apportioned in such manner as may be deemed most beneficial to the corporation.

SEC. 4. That the immediate government and direction of the affairs of the company shall be vested in a board of nine directors, who shall be chosen by the stockholders of said company in the manner hereinafter provided, and shall hold their offices until others are duly elected and qualified to take their places as directors; and the said directors (four of whom, the president being one, or a majority of whom, shall be a quorum for the transaction of business,)

shall elect one of their number to be president of the board, who shall be also president of said company. They shall also choose a clerk, who shall be sworn to a faithful discharge of his duty, and a treasurer, who shall give bonds with surety to the said company, in such sum as the said directors may require, for the faithful discharge of his trust.

SEC. 5. That the persons authorized by the third section of this act to open the books for subscriptions to the capital stock of said company, are hereby authorized, after the books of subscription to said capital stock are closed, to call the first meeting of the stockholders of said company, in such way and at such time and place as they may appoint, for the choice of directors of said company; and in all meetings of the stockholders of said company, each share shall entitle the holder thereof to one vote, which vote may be given by said stockholder in person, or by lawful proxy. And the annual meeting of the stockholders of said company for the choice of directors shall be holden at such time and place, and upon such notice, as the said company in their by-laws may prescribe.

SEC. 6. That in case it shall so happen that an election of directors shall not be made on any day appointed by the by-laws of said company, said company shall not for that cause be deemed to be dissolved, but such election may be holden on any day which shall be appointed by the directors of said company, and said directors shall have power to fill any vacancy which may occur by death, resignation or otherwise.

SEC. 7. That the directors shall have full power to make and prescribe such by-laws, rules and regulations as they shall deem needful and proper, touching the disposition and management of the stock, property, estate and effects of said company, not contrary to this charter, or the laws of this state, or of the United States; the transfer of shares; the duties and conduct of their officers and their servants; touching the election of, and meeting of the directors; and