Chapter 148.

AN ACT to establish the Frankfort, Bangor and Belfast Rail Road Corpo

ration.

Approved March 22, 1836.

rators.

SECT. 1. Be it enacted by the Senate and House of Representatives, in Legislature assembled, That Benjamin Shaw, Name of CorpoAlbert L. Kelly, Webster Kelly, Eben. S. Coffin, Nehemiah Rich, Waldo Pierce, Tisdale Dean, William Andrews, Lewis C. Kelly, Archibald Jones, Benjamin Johnson, Elisha Chick Jr., Jeremiah Holmes, Francis W. Rhoades, James Arey, Ephraim Lincoln, Wiggins Hill, Joseph Carr, William B. Reed, Theodore B. McIntire, Willis Patten, Waldo T. Pierce, James B. Fisk, Abner Taylor, Thomas A. Hill, Lot V. and Joseph Bartlett, their associates, successors and assigns be and they hereby are made a body politic and corporate, by the name of the Frankfort, Bangor and Corporate name. Belfast Rail Road Corporation, and by that name shall be and hereby are made capable in law, to sue and be sued to final judgment and execution, plead and be impleaded, defend and be defended, in any Courts of Record, or in any other place whatever; to have a common seal which they may alter at pleasure, and shall be and hereby are vested with all the powers, privileges and immunities which are or may be necessary to carry into effect the purposes and objects of this Act, agreeably in all respects to an Act, entitled "An Act defining certain rights and duties of Rail Road Corporations" passed March first eighteen hundred and thirty six, and as hereinafter set forth-and the said Corporation are hereby authorized and empowered to Powers and privlocate, construct and finally complete, alter and keep in repair a Rail Road, with one or more set of rails or tracks, with all suitable bridges, viaducts, turnouts, culverts, drains and all other necessary appendages, from some point or place at or near the tide waters in the City of Bangor in the County of Penobscot, with the right to connect with one or both of the Rail Roads leading from said Bangor to Orono, to the navigable Winter Waters, at the north

ileges.

Number of shares.

end of Frankfort village in the County of Waldo, at or near Low's Brook, and from thence extending down the Penobscot River so as to include a sufficient space for a convenient and commodious Depot; with the right to extend said Rail Road to the Town of Belfast, and there to be connected with any Rail Road that may hereafter be made from said Belfast to the Kennebec River, and with the right also to extend a Rail Road from said Village of Frankfort to the Town of Brooks in said County of Waldo and there to be connected, with the contemplated Quebec and Belfast Rail Road.-Saving to the public the right to locate and construct any highway across said Rail Road subject to the existing provisions of law for the location, construction and repair of highways.

SECT. 2. Be it further enacted, That the capital stock of said Corporation shall consist of not less than two thousand, nor more than seven thousand shares, and the immeGovernment, &c. diate government and direction of the affairs of said Corporation shall be vested in seven Directors, who shall be chosen by the members of said Corporation, in the manner hereinafter provided, and shall hold their offices until others shall be duly elected and qualified to take their place, a majority of whom shall form a quorum for the transaction of business; and they shall elect one of their number to be President of the Board, who shall also be President of the Corporation; and shall have authority to choose a Clerk, who shall be sworn to the faithful discharge of his duties, and a Treasurer who shall give bonds to the Corporation, with sureties to the satisfaction of the Directors, in the sum of not less than ten thousand dollars, for the faithful discharge of his trust. And for the purpose opened for sub- of receiving subscriptions to the said stock, books shall be opened, under the direction of the persons named in the first section of this Act, at such time and in such places in the shire towns in the several Counties in this State, and elsewhere, as they shall appoint, to remain open for ten successive days, of which time and places of subscription, public notice shall be given in some newspaper printed in

Directors may choose a Clerk and Treasurer.

Stock,books to be scriptions.

the cities of Portland and Bangor, and in the Towns of Augusta and Belfast, twenty days at least previous to the opening of such subscription; and in case the amount subscribed shall exceed two thousand shares for said Rail Road from the City of Bangor to Frankfort; three thousand shares for said Rail Road from Frankfort to Belfast, and two thousand shares for said Rail Road from Frankfort to Brooks, the same shall be distributed among all the subscribers, according to such regulations, as the persons having charge of the opening of the subscription books shall prescribe before the opening of said books. And any seven of the persons named in the first section of Mode of calling

this Act, are hereby authorized to call the first meeting of the first meeting. the said Corporation, by giving notice in one or more newspapers published in each of the said Cities and Towns above named, of the time, place and the purpose of such meeting, at least twenty days before the time mentioned in such notice.

Powers of Presi-,

ors.

SECT. 3. Be it further enacted, That the President and Directors, for the time being, are hereby authorized and empowered by themselves or their Agents, to exercise all dent and Directthe powers herein and by the aforesaid Act of March first eighteen hundred and thirty six, granted for the purpose of locating, constructing and completing said Rail Roads, and for the transportation of persons, goods and property of all descriptions, and all such power and authority for the management of the affairs of the Corporation as may be necessary and proper to carry into effect the object of this grant; to purchase and hold lands, materials, engines, cars and all other necessary things in the name of the Corporation for the use of said Rail Roads and for the transportation of persons, goods and property of all descriptions; to make such equal assessments from time to time, on all the shares in the said Corporation, as they may deem expedient and necessary, in the execution and the progress of the work, and direct the same so be paid to the Treasurer of the Corporation. And the Treasurer shall give notice of all such assessments in such manner as

lecting to pay assessments, shares may be sold,

shall be prescribed by the by laws of said Corporation; Stockholders neg- and in case any subscriber or stockholder shall neglect to pay any assessment on his share or shares for the space of thirty days after having been so notified by the Treasurer of said Corporation, the Directors may order the Treas urer to sell such share or shares at public auction after giving such notice as may be prescribed as aforesaid, to the highest bidder, and the same shall be transferred to the purchaser, and such delinquent subscriber or Stockholder shall be held accountable to the Corporation for the balance, if his share or shares sell for less than the assessments due thereon, with the interest and costs of sale; and shall be entitled to the overplus, if his share or shares shall sell for more than the assessments due, with interest and costs of sale; Provided, however, That no assessments shall be laid on any shares in said Corporation of greater amount, in the whole than one hundred dollars.

Proviso.

May make bylaws, &c.

Toll to be estab

tors.

SECT. 4. Be it further enacted, That the said Corporation shall have power to make, ordain and establish all necessary by laws and regulations, consistent with the Constitution and the laws of the State, for their own government and for the due and orderly conducting of their affairs, and the management of their property.

SECT. 5. Be it further enacted, That a toll be, and hereby is granted and established for the sole benefit of said lished by Direc- Corporation, upon all passengers and property of all descriptions which may be conveyed or transported upon said Road at such rates per mile as may be agreed upon and established from time to time by the Directors of said Corporation. The transportation of persons and property, the construction of the wheels, the form of cars and carriages, the weight of loads, and all other matters and things in relation to the use of said Road, shall be in conformity. with such rules, regulations and provisions, as the Directors shall from time to time prescribe and direct. And said bound to keep the Corporation, after they shall commence the receiving of tolls shall be bound at all times to have said Rail Road in good repair, and a sufficient number of suitable carriages

Corporation

road in good re

pair.

have the right to

10 years.

Corporation to

Governor and

and vehicles for the transportation of persons and articles and be obliged to receive at all proper times and places and convey the same when the appropriate tolls therefor shall be paid or tendered, and a lien is hereby created on all articles transported for said tolls-Provided, that after ten years from the completion of said Rail Road, whenever Legislature to the profits arising from tolls or otherwise, shall exceed the reduce tolls after amount of twelve per centum per annum on the actual cost of said Rail Road after deducting all necessary disbursements in conducting its operations then the Legislature shall from time to time have the right so to reduce such tolls as may have been established not below the rate of twelve per centum per annum as aforesaid, as may be judged expedient. And to carry this provision into effect it shall be the duty of said Corporation within twelve make return to months after such Rail Road shall have been put in opera- Council. tion, or any section thereof to make return to the Governor and Council of the actual cost of said Rail Road or section and annually thereafter of all the disbursements allowed by the Directors and the rates of toll by them established the amount of tolls and other profits received and the rate of profit or per centum on the cost aforesaid actually realized within the year and if the Legislature shall not be satisfied with such return the Legislature may require an ination into their examination into the affairs of the Corporation in such manner as they may direct. And if it shall appear that the affairs of said Corporation have not been economically conducted and that the profits arising from tolls or otherwise might have exceeded the maximum of twelve per centum per annum or that any wilful evasion of the provisions of this section has been practised by said Corporation then the Legislature shall have the right to make such reasonable reduction of the charges for disbursements aforesaid allowed and charged by said Directors, as shall be judged economical and from such basis so to reduce the tolls and profits not however below twelve per centum per annum as aforesaid as shall be judged expedient any thing in this Act to the contrary notwithstanding.

Legislature may require an exam

affairs.