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Sec. 2. That the capital stock of said company shall not exceed the sum of two hundred thousand dollars, and shall be divided into shares of one hundred dollars each.
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 time and place as they or a majority of them may appoint, and shall give such notice of times and places of opening said books as they may deem reasonable, and shall receive said subscriptions under such regulations as they may adopt for the purpose ; and in case the subscription shall exceed two 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 persons named in the first section hereof, or a majority of them, are hereby authorized, after the books of subscription to the capital stock of said company 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:
Sec. 5. 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, such company shall not for that cause be deemed to be dissolved; but such election may be held on any day which shall be appointed by the directors of said company.
Sec. 6. That when the lands or other property or estate of any femecovert, infant or person non compos mentis, shall be necessary for the construction of said railroad, the husband of such feme-covert, and the guardian of such infant or non compos mentis, may release all damages for any lands or estate taken and appropriated as aforesaid, as they might do if the same were holden in their own right respectively.
SEC. 7. That said railroad company may in the construction of their said road, if necessary, cross, intersect or connect with any other railroad, and may construct their said road across or upon the same; provided, however, that in so constructing their said road across or upon any other railroad, or in connecting therewith, they shall not change or in anywise alter either the grade or the line of the same; nor in any way enter upon, use or cross such railroad, withont first paying to said railroad company such portion of the expense of constructing so much of said road as shall be required by said Windsor and Tariffville Company, and also such damage as said railroad company may sustain by reason of such construction or connection as aforesaid ; to be ascertained in all respects in the same manner as is proposed in the 10th section of said act, passed at the May session, 1849, entitled "An act relating to Railroad Companies.” Provided, that the appraisers appointed agreeably to the 10th section of the “Act relating to Railway Companies," above referred to, shall not consider, in their appraisal, the expense to the adjoining proprietors, of making and maintaining fences upon the line of such road, and shall not in their estimate of damages include the same, but such fences shall be built and maintained by said railroad company at its own expense, and in no
case shall said company be allowed to contract with the land owners, for the erection or support of said fence.
EXTENDING TIME FOR COMMENCEMENT AND COMPLETION OF AND EXPENDI
TURE ON THE WORCESTER AND HARTFORD RAILROAD.
Resolved by the Senate and House of Representatives, in General Assembly convened, That the “Worcester and Hartford Railroad Company” shall be allowed the further time of four years from and after the rising of this assembly, within which to commence their said road, and expend thereon the sum of one hundred thousand dollars, and the further time of six years within which to complete their said road, and put the same in operation according to their charter.
INCORPORATING UNION BRANCH RAILROAD COMPANY.
Resolved by this Assembly, That Samuel Colt, William J. Hamersley, Henry C. Deming, Milton Joslin, Elisha T. Smith and E. K. Root, with such other persons as shall associate with them for the purposes hereof, be and they hereby are constituted a body politic and corporate, by the name of the Union Branch Railroad Company, and by that name they shall have and enjoy all the powers usually granted to railroad corporations in this state. And said company is hereby authorized and empowered to locate, construct and finally complete a single or double railway, commencing from some convenient point on Commerce street, near the freight depot of the Hartford and New Haven railroad, in the city of Hartford, and running in a southerly direction through Commerce street and across Mill river, to some convenient point on the land of Col. Samuel Colt, on the south side of said Mill river—with liberty to extend said road, if said company should at any time deem it advisable, in a northerly direction over and along the roadway of the freight branch of the Hartford and New Haven railroad, to an intersection with the Hartford, Providence and Fishkill railroad, in such manner and on such terms as said Hartford and New Haven Railroad Company, and the corporation hereby incorporated, shall mutually agreee. "And said corporation is hereby authorized and empowered to transport, take and carry persons and property upon and over said road by such mechanical or other power
as said company may see fit to apply. And the said company is hereby vested with all the powers and privileges, and is made subject to all the duties, conditions and requirements of the act relating to " Railroad Companies,” passed May session, 1849, and all other acts in addition or in alteration thereof.
Sec. 2. The capital stock of said company shall be forty thousand dollars, with liberty to increase the same as may be found necessary to any amount not exceeding one hundred and fifty thousand dollars, and shall be divided into shares of one hundred dollars.
Sec. 3. 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 time and place as they or a majority of them may appoint, and shall give such notice thereof as they may deem reasonable, and shall receive said subscription under such regulations as they may adopt for that purpose. And in case the subscriptions shall exceed the amount of four hundred shares, the same shall be reduced and apportioned in such manner as shall be deemed just and equitable.
Sec. 4. The persons named in the first section, or a majority of them, shall call the first meeting of the stockholders of said company, in such manner and at such time and place as they shall appoint, for the choice of directors of said company, and in all meetings of the stockholders, each share of stock shall entitle its holder to one vote, which vote may be cast by the stockholder in person or by lawful proxy.
Sec. 5. In case it shall so happen that an election of directors shall not be made on the day appointed by the by-laws of said company, such company shall not for that reason be dissolved, but such election may be held at any subsequent meeting of the stockholders specially called and warned for that purpose by the directors last elected.
SEC. 6. When the lands of any feme-covert, infant or non compos mentis, shall be necessary for the construction of said road, said lands may be taken on giving notice to the husband of such feme-covert, the guardian of such infant and the conservator of such non compos mentis, and they respectively may release all damages for any lands taken as aforesaid, as freely as they might do if the same were holder in their own right. Sec. 7. Said coinpany may
other company relating to the business of said company, and may lease their road, or any part thereof, to, or operate their road, or any part thereof, with, or merge and make common stock with any
other railroad company having railway connections therewith.
SEC. 8. That if said company shall not expend the sum of ten thousand dollars upon said railroad or way within two years from the rising of this assembly, or if they shall not construct and complete and put in operation a single or double railroad or way, as herein before authorized, within three years after the passage of this act, then the rights, privileges and powers of said corporation shall be null and void.
Sec. 9. This act may be altered, amended or repealed at the pleasure of the general assembly.
GENERAL RAILROAD COMMISSIONERS TO APPROVE OF CHANGES IN THE
LOCATION OF RAILROADS.
Resolved by this General Assembly, That the general railroad commissioners of this state be and are hereby authorized and empowered to approve of such changes in the location of railroads in this state as may be made by the directors of the same, for the purpose of straightening such railroads, extending the lines of sight upon the same, and improving the lines thereof, as in the judgment of such commissioners shall be proper and expedient; and that after such changes are so approved of by such commissioners, such railroads may proceed to procure all lands necessary for such purposes, and for all necessary materials for executing the same, in the same manner as is prescribed for obtaining the right of way in the respective charters of such railroads, and the amendments thereto.
SAVINGS BANKS AND SOCIETIES.
AN ACT TO INCORPORATE THE BRIDGEPORT SAVINGS BANK.
Be it enacted by the Senate and House of Representatives, in General Assembly convened, Sec. 1. That Benjamin Wheeler, Birdsey G. Noble, W. B. Dyer, Mark Moore, Samuel Simons, W. H. Noble, Josiah Hubbell, Stephen Hawley, Sherwood Sterling, Willys Stillman, Smith Tweedy, David Perry, Samuel Stratton, Gideon Thompson, Henry Shelton, Wilson Hawley, Thomas Ransom, Lemuel Coleman, Joshua Lord, Schuyler Seeley, Starr Beach, Elihu Beach, be and they hereby are incorporated by the name and title of the Bridgeport Savings Bank; and they and such others as shall be duly elected members of said corporation, shall be and remain a body politic and corporate, by the same name, style and title forever.
SEC. 2. Said corporation shall be capable of receiving from any person or persons disposed to obtain or enjoy the advantages of said incorporation,
any deposit or deposits of money not exceeding four hundred dollars from any one individual in any one year, and to use and improve the same according to the provisions of this act.
SEC. 3. All deposits of money received by said corporation, shall be used and improved to the best advantage, by loaning the same by order or consent of a majority of the directors, on mortgage of real estate or other undoubted security, and in a manner not inconsistent with the laws of this state; and the funds of said corportion may be vested by purchase of bank stock in any bank in this state; and the said corporation may dispose of the same from time to time, to such an amount as will meet the demand for deposits, and the income or the profit thereof shall be divided and applied among the persons making the deposits, their executors or administrators, in just proportions, with such reasonable deduction as may be chargeable thereon; and the principal of such deposit or deposits may be withdrawn by the owners thereof, or by any other person or persons duly authorized for said purpose, on giving notice of such intention in writing, and lodging the same with the secretary of such corporation, at least four months previous to withdrawing the said deposit or deposits.
Sec. 4. Said corporation, at their annual meeting, shall have power to elect by ballot any other persons to be members of said corporation.
Sec. 5. Said corporation shall have a common seal, which they may change or renew at pleasure; and that all deeds, conveyances, grants, covenants and agreements, made by their treasurer, or any other person by their authority and direction, shall be good and valid ; and said corporation shall at all times have power to sue and may be sued, may defend, and shall be held to answer by the name and style aforesaid.
Sec. 6. After the first meeting, to be holden as hereafter directed, there shall be held an annual meeting of the members of said corporation, in the month of June, annually, in the city of Bridgeport, and at such other times as they shall judge expedient; and any fifteen members of said corporation, the president or vice president, treasurer or secretary being one, shall be a quorum; and the said corporation, at their annual meeting, shall have power to choose a president, vice president, managers and such other officers as to them shall appear necessary; which officers, so chosen, shall continue one year and until others are chosen in their room ; and all officers so chosen shall be under oath, faithfully to discharge the duties of their respective offices.
SEC. 7. No member of said corporation shall be the hirer, borrower, or surety of the funds of said corporation, or any part thereof; and no president, vice president or managers of said corporation, shall be entitled to receive any compensation for their services.
Sec. 8. Said corporation hereby are and forever shall be vested with the power of making by-laws for the more orderly managing of the business of the corporation. Provided the same are not repugnant to the constitution and laws of this state.
Sec. 9. William B. Dyer, Smith Tweedy, Sherwood Sterling and Wilson Hawley, Esqrs., or any two of them, be and they are hereby authorized to call the first meeting of said corporation, and notice of the time and place of such meeting shall be given in the papers printed in Bridgeport; which meeting shall be held within sixty days after the rising of this assembly; at which meeting said corporation shall be organized by