SEC. 4. This act shall take effect on the first Monday of February, eighteen hundred and fifty-one, and shall continue in force till the first Monday of May next, and no longer.

FREDERICK W. HORN,

Speaker of the Assembly.

SAMUEL W. BEALL,

Lt. Governor and President of the Senate.

Approved, February 8th, 1851.

NELSON DEWEY.

An Act to regulate the distribution of the income of the school fund.

The People of the State of Wisconsin represented in Senate and Assembly, do enact as follows:

Chap. 53.

SECTION 1. The words "income of the State fund for the support of common schools," used in section one, chapter twenty of the Revised Statutes, shall be so construed as to mean such portion of the income as shall have been actually paid in to the State treasury up to the first day of February in each Explanation. year, and such portion shall be the "income" to be distributed under the provisions of said chapter twenty.

SEC. 2. Such portion of the income of the school fund as shall be due on or before the last day of January in any year, but which, owing to admissable causes, shall not have been paid into the State treasury until after said date, shall be added to the income for the succeeding year and apportioned with it in the next apportionment of the school moneys by the State Superintendent.

FREDERICK W. HORN,

Speaker of the Assembly.

SAMUEL W. BEALL,

Lt. Governor and Prendent of the Senate.

Approved February 8th, 1851.

NELSON DEWEY.

¡An Act to incorporate the Potosi and Dodgeville Rail Road Company.

The People of the State of Wisconsin, represented in Senate and Assembly, do enact as follows:

SECTION 1. That Robert Templeton, Donald A. Mackenzie, Simon E. Lewis, Celestin Kætenbach, Julius Augustine, Henry L. Massey, Samuel Vance and William T. Ennor, of the county of Grant, and Elisha Smith Charles G. Rodolf, Georgo Messersmith, Thomas Stephens. John II. Todd, M. M. Cothren, Cyrus Woodman and Jolin B. Terry, of the county of Iowa, be,

Chap. 54.

to receive sub

and they are hereby appointed Commissioners, under the direction of a majority of whom, subscriptions may be received to Commissioners the capital stock of the Potosi and Dodgeville Railroad Compascriptions. ny, hereby incorporated; and they may cause books to be opened at such times and places as they may direct, for the purpose of receiving subscriptions to the capital stock of said Company, first giving thirty days notice of the times and places of taking such subscriptions, by publishing the same weekly in a public newspaper printed in the county of Iowa.

era.

SEC. 2. The capital stock of said Company shall be four hundred thousand dollars in shares of one hundred dollars each, and as soon as one thousand shares of stock shall be subscribed, and five dollars on each share actually paid the subscribers of such stock with such other persons as shall associate with them for that purpose, their successors or assigns, shall be and they are hereby declared and created a body corporate and politic, by the name and style of the "Potosi and Dodgeville Rail Road Corporate Pow- Company," with perpetual succession, and by their name shall have all the privileges, franchises and immunities, incident to a corporation; they shall be capable in law of purchasing, holding, selling, leasing and conveying estate, either real, personal or mixed, as far as the same may be necessasy for the purposes hereinafter mentioned and no further; and in their corporate name may sue and be sued, may have a common seal, which they may alter and renew at pleasure, and generally may do all and singular the matters and things which to them it shall lawfully appertain to do, for the well being of the said corporation. Suc. 3. The said Commissioners, or a majority of them, after the said one thousand shares of stock shall have been subscribed, as aforesaid, shall give thirty days notice in the newspapers hereinbefore mentioned, of the time and place by them appointed for the subscribers or stockholders to meet for the to give notice of purpose of electing nine directors, and annually thereafter the said stockholders shall meet on the second Wednesday in January for the purpose of electing directors as aforesaid, upon a like previous notice to be given as aforesaid: Provided, That previous to the first election, the Commissioners hereinbefore named shall elect one of their number President, and they shall perform all the duties and be invested with all the powers of directors: And provided, That if from any cause an election shall not be held at the regular time specified therefor, the same may be held at any other time, on notice as aforesaid; that until such election the directors of the proceeding year shall continue to act, and that this charter shall not be avoided by reason of the irregularity or want of such election.

Commissioners

Election.

Proviso.

SEC. 4. The affairs of the said corporation shall bo managed

1

appointed.

by a board of nine directors, who shall be chosen annually by
ballot, on the days hereinbefore prescribed, by the stockholders
of the said Company, the votes to be delivered in person or by
proxy duly authorised, which directors shall appoint one of their President to be
own number to be President, and shall respectively serve for
one year, or until other directors le elected, they shall have
power to make and establish such by-laws, rules, orders and
regulations, not inconsistent with the constitution and laws of
the United States or of the State of Wisconsin, as may be nec-
essary for the well ordering of the officers [affairs] of said Com-
pany.

SEC. 5. None but stockholders shall be elected directors,
and at every election, and in all other cases upon which stock-
holders shall be called upon to vote each share of stock shall be
entitled to one vote, and in all cases of elections for directors,
the nine stockholders having the greatest number of votes shall
be declared duly elected.

Powers of Di

SEC. 6. The said directors shall meet at such times and
places, and be convened in such manner as they may hereafter
decide upon. Five directors shall be a quorum for the trans-
action of business, who in the absence of the President shall
appoint a President, pro tem; the said directors shall appoint
Secretary, Treasurer and such Engineers and other officers as rectors.
they may find necessary; they shall have full powers to fix the
compensation of all officers, and may demand adequate securi-
ty for the performance of their respective trusts; they shall de-
cide the time and manner and proportions in which the said
stockholders shall pay the money due on their respective shares,
and to forfeit to the use of the company the share or shares of
every person or persons failing to pay any instalment so requir
ed, at a reasonable period, not less than thirty days from the
time appointed for the payment thereof; they shall have
to make such covenants, contracts and agreements, with any
person, co-partnership, or body politic, whatsoever, as the exe-
cution and management of the works and the convenience and
interest of the Company may require, and in general to super-
intend and direct all the operations, receipts, disbursements and
other proceedings of the Company: Provided, That no instal-Proviso.
ment called in at any one time shall exceed twenty dollars
share, and that no instalment shall be called by the directors
without at least sixty days notice thereof in the newspapers
hereinbefore mentioned.

fower

per

SEC. 7. The directors chosen as aforesaid, shall issue a certificate to each stockholder for the number of shares he or she may subscribe for or hold in said corporation, signed by the Certificates of President, countersigned by the Secretary, and sealed with the

Stock.

common scal, subject however to all payments due or to grow due thereon which stock shall be transferred in person or by At· torney, Executors, Administrators, Guardian or Trustees, under such regulation as may be provided for in the by-laws of the Company.

SEC. 8. At each annual meeting of the stockholders for the purpose of electing directors, the directors of the preceding year shall exhibit to them a complete statement of the affairs and proceedings of the Company for such year; and special meetings of the stockholders may be called to order of the directors, or by stockholders holding one-fourth in amount of the capital stock, on like notice as that required for annual meet ings, specifying moreover the object of the meeting; but no business shall be transacted at such special meeting unless a ma jority in value of the stockholders shall attend in person or by

proxy.

SEC. 9. The said Company shall have power to locate and construct a single or double tract railroad from such eligible point in the town of Potosi, in Grant county, to such eligible point in the town of Dodgeville, in Iowa county, as shall be determined on by a vote of the stockholders holding a majority of the stock of said Company, at a special meeting called for the purpose of fixing the location or termination of said road, and shall have power to transport, take and carry property and persons upon the same, by the power and force of steam, of aniSpecified Pow-mals, or of any mechanical or other power, or of any combination of them; and they shall also have power to make, construct and erect all such side tracks, turn outs, and connecting tracks, and also all such warehouses, machine shops, carriages, cars and other works and appendages, as may be necessary for the convenience of the said Company to the use of the said railroad. and to connect the same with other railroads and branch rail roads in the State of Wisconsin, at any points within the limits of the counties of Grant and Iowa.

ex

SEC. 10. If said corporation shall not within three year from the passage of this act commence the construction of sai railroad, then the rights, privileges and power of said corpors tion under this act shall be null and void.

SEC. 11. It shall and may be lawful for said Company, thei officers, engineers and agents, to enter upon any land for th purpose of exploring, surveying and locating the said railroa doing thereto no unnecessary damage, and when the said rou shall be determined by the said Company, it shall be lawful f them, their agents, officers, engineers, contractors and servan bow lo- at any time, to enter upon, take possession of, and use su lands, not exceeding five rods in width, along the line of sa

route, subject, however, to the payment of such compensation as the Company may have agreed to pay therefor, or shall be ascertained in the manner hereinafter directed and provided in such cases respectively.

SEC. 12. When the said corporation cannot agree with the owner or owners of such required land for the purchase thereof, or as to the compensation to be paid to the owner or owners of any land taken for the purpose aforesaid, or when by reason of the legal incapacity, or absence of any such owner or owners, no such agreement or purchase can be made, then, and in any such case, it shall be lawful for the judge of the circuit court of the county in which such lands are situated, on application of When Judge to such corporation, to appoint three disinterested persons resid-es ing in such county, whose duty it shall be to view and examine, or survey said lands, with the buildings and improvements, if any thereon, and to estimate the value of the lands so taken or required by the said Company, and all damages which the owner or owners thereof shall sustain or may have sustained, by reason of the taking of the same for the construction and use of said railroad, or works appertaining thereto, taking into consid eration the advantages as well as the disadvantages of the same, to the said owner or owners, and the persons so appointed, before entering upon the discharge of such duties, shall take an oath before some justice of the peace, or other person compotent to administer oaths, faithfully, and according to the best of his abilities, to examine the land so taken or required by said Company, and impartially to estimate and appraise the value of the same and the damage or injury which the owner or owners thereof shall have sustained or may sustain by reason of the taking and using thereof by said Company, over and above all benefits and advantages which such owner or owners shall derive from the construction of such railroad, whereupon such Commissioners shall proceed to examine the premises and estimate the value of such land and the amount of damages, if any, over and above the benefits and advantages which may accrue Appraisers to to such owners, as aforesaid, and shall make a report of such valuation in writing, under their hands and seals, to said judge, and shall return the same within thirty days after their appointment, to the Clerk of the Circuit Court of the county in which they reside; and it shall be the duty of the said Clerk to file the same, and in case no appeal shall be made within thirty days after the filing of said reports, as hereinafter provided, then the said Clerk shall record the same at the expense of the Company, and judgment of the said Court shall be entered thereon, on motion of either party, at any term of said Court: Provided, Provi. That either party may appeal to said Court within thirty days

report.