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ditures, &c., to
ance of military duty, with their necessary horses and
carriages, shall pass free from toll. For fifty years. SECTION 7. The said toll shall commence on the day of
the opening of said bridge, and continue for the term of fifty years thereafter; and, at the place of receiving said tolls, there shall be constantly exposed to view, a sign-board, with
said rates of toll fairly and legibly painted thereon. Return of expen- SECTION 8. The said corporation, at the time of opening secretary of the said bridge, or as soon as may be thereafter, shall cause a
true account of the expenses of building the said bridge, and also, at the end of every three years thereafter, a true account of all receipts and disbursements on account thereof, to be returned into the office of the secretary of the Com
monwealth. Rates of toll, how SECTION 9. The said corporation is authorized to com
mute said rates of toll with any person or persons, by taking of him or them a certain less sum, payable at any stated periods, instead of the toll aforesaid, or by taking, of all
persons, less rates of toll than as before specified. Reserved powers SECTION 10. The legislature may, at any time hereafter,
regulate the tolls on said bridge, or alter, amend, or repeal
this charter. Bridge to be built SECTION 11. If the said corporation shall neglect, for the
space of four years from the passing of this act, to build said bridge, then this act shall be of no effect. April 25, 1850.
in four years.
[1844, 134 ; 1845, 97 ; 1846, 164, 262; 1848, 122, 268 ; 1849, 152.] Chap. 233 An Act concerning the Vermont and Massachusetts Railroad Company.
Be it enacted, &c., as follows: Proceedings in re- The proceedings of the Vermont and Massachusetts Railgage of their pro- road Company, whereby they conveyed, agreeably to a vote
of the stockholders, passed on the twenty-ninth day of June, eighteen hundred and forty-nine, their said railroad and property, in mortgage, to John Davis, Robert G. Shaw, and Jabez C. Howe, trustees for the bond-holders in said mortgage mentioned, to secure the holders of said bonds the payment of the same, are hereby ratified and confirmed.
April 25, 1850. [1851, 34, 63, 277, 310, 314, 326 ; 1852, 202; 1853, 1, 134, 185, 336, 367;
1856, 58, 229.]
Chap. 234 An Act to incorporate the People’s Mutual Health Assurance Company.
Be it enacted, &c., as follows :
SECTION 1. John Mills, William B. Calhoun, George W. Rice, their associates and successors, are hereby made a
corporation, by the name of the People's Mutual Health In Springfield. Assurance Company, in the town of Springfield, for the
purpose of making insurance on health, with all the powers
and privileges, and subject to all the duties, liabilities, and Powers and restrictions, set forth in the forty-fourth chapter of the a Revised Statutes. SECTION 2. There shall be an original guaranty capital Guaranty fund of
$5,000. stock subscribed to said corporation, which shall be five ** thousand dollars, to be divided into shares by said corpora- . tion, half of which shall be paid in, in money, before the said corporation shall go into operation for the purpose of making insurance; the other half of said stock may be called for by the directors, from time to time, when they deem it necessary or expedient, and shall be paid in by the holders of the stock, which shall always stand pledged to the corporation for all such assessments so called for.
SECTION 3. At the first meeting of the corporation a Directors, how number of directors, not less than twelve, shall be chosen ch by the subscribers to the guaranty stock, who shall hold their offices for one year, and until others are chosen in their stead. At all subsequent elections of directors, the number shall be such as may be provided for by a previous vote of the directors or by-law of the corporation ; and, in case of no provision on this subject, the number shall be the same as at the first election, one-half of whom shall be elected by the stockholders and the other half by the assured, voting in separate bodies; the directors shall all be either stock- Who holders or assured, and on ceasing to be such shall cease to rectors. hold said office.
SECTION 4. Whenever the net surplus receipts of the cor- When stockholdporation, over losses and expenses, and after providing for risks, shall be sufficient for the purpose, the stockholders shall be entitled to an annual dividend of six per centum ; and in case of such dividend not being paid in any one year, it shall be made good at a subsequent period, when the net resources of the company shall be sufficient for paying the same.
SECTION 5. After providing for risks, losses, incidental Guaranty stock, expenses, and the dividend aforesaid, the directors shall deemed annually set apart not less than one-third of the estimated surplus funds and receipts, as a reserved fund, to be applied to the redemption of the guaranty stock; and whenever, after the expiration of five years from the time of organizing the company, the amount of such reserved fund shall be sufficient for the purpose, and the assured shall vote to redeem the guaranty stock, the same shall be redeemed.
SECTION 6. Upon the redemption and extinguishment of When directors the guaranty stock, under the provision in the fifth section, to the directors shall be chosen by the assured. SECTION 7. Said company may assure to the holders of Insurance for
personal injuries, its policies an allowance in money, for the time during which &c.
Who may be di
ers entitled to six per cent.
to be re
to be all chosen by the assured.
m accident der of any policunt that may be of his
Benefits not liable to attachment or execution.
237, 238. they shall be unable to transact business, or labor in their accustomed vocation, in consequence of personal injury resulting from accident or otherwise.
SECTION 8. The holder of any policy issued by this company shall be entitled to receive the amount that may become payable on such policy, for his own benefit and that of his family; and the same shall not be liable to attachment or execution for any debt due from him. April 25, 1850.
[1850, 29.] Chap. 237 An Act in addition to an Act to incorporate the Worcester Gas Light
Company Be it enacted, &c., as follows : Repeal of parts of SECTION 1. So much of the act to which this is in addioriginal act.
tion, as is contained in the first section thereof, after the words " thirty-eighth and forty-fourth chapters of the Revised Statutes," and also so much as is contained in the fifth
section thereof, be and the same is hereby repealed. Extension of SECTION 2. The said corporation shall make such extenpipes by direction or city council. sion of their pipes, and furnish the gas in such quantities, Proviso.
as the city council may from time to time direct: provided, the city council shall guarantee to said company a profit of six per cent. per annum on such extension. The rates of charges to the city and the inhabitants, shall not exceed the rates that may be charged for gas of similar kind and quality, in either of the cities of Boston, New York, or Baltimore.
SECTION 3. This act shall take effect on and after its passage.
April 26, 1850.
of Nesset fole year. Act, and any
[1845, 8; 1846, 265; 1847, 184 ; 1848, 137; 1849, 247; 1850, 170.) Chap. 238 An Act authorizing the Connecticut River Railroad Company to take a
Lease of the Ashuelot Railroad. Be it enacted, 8c., as follows : Contract con- SECTION 1. The Connecticut River Railroad Company
are hereby authorized and empowered to contract with the Ashuelot Railroad Company, a body corporate in the State of New Hampshire, under the provisions and for the purposes set forth in the first and second sections of an act passed in the year one thousand eight hundred and thirtyeight, entitled “ An Act authorizing railroad corporations to make certain contracts ;” and any contract already made and subsisting between the said parties is hereby sanctioned, so far as the same is agreeable to the provisions of the act Railroad Company in the town of Northfield, diverging from their present line at such a point, and crossing the said Vermont and Massachusetts Railroad in such a manner, as may be most convenient to form a junction with the railroad of the said Ashuelot Railroad Company; the company thus constructing their road, as aforesaid, to incur all the expense of said construction across the said Vermont and Massachusetts Railroad, and of keeping the same in repair: provided, that a map of the location of the new road autho- Proviso. rized by this act shall be filed with the county commissioners for the county of Franklin, and the said road shall be When to be conconstructed within one year from the passage of this act. structed.
aforesaid. Line of road may SECTION 2. The said Connecticut River Railroad Comto join the Ashu- pany may locate, construct and use their railroad, crossing
at grade the railroad of the Vermont and Massachusetts
Line of road may
SECTION 3. This act shall take effect from and after its passage.
April 26, 1850. [1852, 315; 1856, 180 ; 1857, 239 ; 1859, 242.]
An Act to incorporate the Wilmington Branch Railroad Company. Chan 240 Be it enacted, &c., as follows :
SECTION 1. Samuel Jaques, Edward Crane, Asa G. Shel- Corporators. don, and James Jaques, their associates and successors, are hereby made a corporation, by the name of the Wilmington Branch Railroad Company, with all the powers and privi- Powers and leges, and subject to all the duties, restrictions and liabili- duties. ties, set forth in the forty-fourth chapter of the Revised Statutes, and in that part of the thirty-ninth chapter of the said Revised Statutes relating to railroad corporations.
SECTION 2. Said corporation may construct and maintain Route of road. à railroad upon the following route: beginning at some convenient point on the Boston and Maine Railroad, in the town of Reading, and between the thirteenth and fifteenth mile-posts of said Boston and Maine Railroad, and continuing thence, in said town of Reading and the town of Wilmington, to a convenient point of intersection with the Boston and Lowell Railroad, at or near the way-station of said Boston and Lowell Railroad, in the village of Wilmington : provided, the point of union of the road hereby Proviso. chartered, with the Boston and Maine Railroad, may be in the town of Wilmington, and the whole of the said road, hereby chartered, be located in Wilmington, if, on further examination, it shall be deemed advisable, and the Boston and Lowell Railroad Corporation shall consent thereto.
SECTION 3. The capital stock of said railroad company Capital stock. shall consist of not more than three hundred shares, the ' number whereof shall be determined by the directors; and no assessment shall be laid thereon, of a greater amount, in the whole, than one hundred dollars on each share; and Real estate. the said company may purchase and hold such real estate, materials, engines, cars, and other things, as may be neces
ngton, to a said town of RMaine Railroad and fifteenth
shall becated in the whola allroad. We
be reduced after four years.
Through tickets forbidden.
sary for depots, for the use of said road, and for the trans
portation of passengers and merchandise. Tolls, &c., may SECTION 4. The legislature may, after the expiration of
four years from the time when said railroad shall be opened for use, from time to time, alter or reduce the rate of tolls, or other profits, upon said road; but the said income shall not, without the consent of said corporation, be so reduced as to yield less than ten per cent. per annum to the stock
holders. May enter upon Section 5. Said company may enter, with their railroad,
by proper turnouts and switches, upon the Boston and Lowell Railroad, at Wilmington, and upon the Boston and Maine Railroad, at Reading, and may use the same, or any part thereof, paying therefor such rate of toll as may be agreed upon, or as the legislature shall establish, and complying with such reasonable regulations as may be established by the Boston and Lowell or Boston and Maine Railroad Company: provided, that the corporation hereby created shall not enter upon said railroads, with any motive power, unless the said railroad companies shall refuse to draw over their roads or any part thereof, the cars of the corporation hereby established.
SECTION 6. No through tickets shall be sold between any point on the Boston and Lowell Railroad, and any point on the South Reading Branch Railroad, east of the village of South Reading, by the railroad corporation hereby created, or by any corporation or individuals who may use the rail
road hereby created, or by any person with the consent of Cars and engines, the corporation hereby created. And no cars or engines at what points shall be permitted to pass to or from any point on the South
Reading Branch Railroad, lying easterly of the village of South Reading, over the railroad hereby chartered, or over any part of the Boston and Maine Railroad, north of the said village of South Reading; and the supreme judicial court of this Commonwealth shall have power to restrain,
by injunction, any attempt, directly or indirectly, to evade Injunctions by the restrictions contained in this section. All such injunc
tions may be granted by any justice of the supreme judicial court, according to the ordinary course of proceeding in courts of equity.
SECTION 7. If the said company shall not, within one
year, file a location of their route in the manner prescribed Completion of by law, or if said railroad shall not be completed within two
years from the passage of this act, then this act shall be void. Value of shares. SECTION 8. No shares in the capital stock of said corpo
ration shall be issued for a less sum or amount, to be actually paid in on each, than the par value of the shares which shall be first issued.
April 26, 1850.
S. J. C.