pany, by giving notice to the other corporators, personally or in writing of the time and place of said meeting seven days at least before the holding thereof.

Chapter 170.

AN ACT to incorporate the Mattanawcook Rail Road Corporation.

Approved March 28, 1836.

SECT. 1. Be it enacted by the Senate and House of RepreNames of Corpo- sentatives, in Legislature assembled, That Josiah Towle, Sol

rators.

Corporate name.

Powers, &c.

omon Parsons, Elisha Ayer, George W. Towle, Theodore Taylor and Joseph Porter, their associates, successors and assigns be and they hereby are made a body politic and corporate by the name of the Mattanawcook 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; to make and establish such by laws, not repugnant to the laws of this State, as they shall deem necessary and proper, 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, as hereinafter set forth, subject however to the provisions of an Act entitled an Act defining certain rights and duties of Rail Road Corporations passed March first in the year of our Lord one thousand eight hundred and thirty six. And the said Corporation are hereby authorized and empowered to locate, construct and finally complete, alter and keep in repair a Rail Road with one or more set of rails or tracts, with all suitable bridges, viaducts, turnouts, culverts, drains and all other necessary appendages, from some point of place near the Southerly terminus of the Military Road, in the town of Lincoln in the County of Penobscot, to the vil

lage of Milford in said County, with the privilege of connecting with the Penobscot River Rail Road Corporation, and also to extend their line of communication across the Penobscot River to the village of Oldtown in Orono, for the purpose of connecting with any Rail Road which may be constructed to Oldtown under any charter auuthorized by any law of this State. And for this purpose said Corporation shall have the right to take and hold so much of the land of private persons as may be necessary for the location, construction and convenient operation of their Rail Road; and they shall also have the right to take, remove and use for the construction and repair of said Rail Road and appurtenances, any earth, gravel, stone, timber or other materials on or from the land so taken. And in case such Rail Road shall pass through any wood lands or forests, the said Company shall have the right to fell or remove any trees standing within four rods of such Rail Road which by their liability to be blown down or from their natural failing might obstruct or impair said Rail Road, by paying a just compensation therefor, to be recovered in the same manner provided for the recovery of other damages-named in this Act. Provided however, that said land so taken shall not exceed four rods in width, except where greater width is necessary for the purposes of excavation and embankment. And provided also, that in all cases said Corporation shall pay for such lands, estate or materials so taken and used, as they and the owner or respective owners thereof may mutually agree on; and in Damages, when case said parties shall not otherwise agree, then said Corpo- gree, how obtainration shall pay such damages as shall be ascertained and determined by the County Commissioners for the County where such land or other property may be situated in the same manner and under the same conditions and limitations as are by law provided in the case of damages by laying out of highways. Saving to the public the right to locate Public reservaand construct any highway across said Rail Road subject to the existing provisions of law for the location, construction and repair of highways. And the land so taken by said Corporation shall be held as lands taken and held for

parties cannot a

ed.

tions.

Limitation for es

ages.

Number of shares

Government.

public highways. And no application to said Commissioners to estimate said damages shall be sustained unless made within three years from the time of taking such land or other property.

SECT. 2. Be it further enacted, That the Capital Stock of said Corporation shall consist of not less than three and capital stock. thousand nor more than six thousand shares of one hundred dollars each, and the immediate government and direction of the affairs of said Corporation shall be vested in five or nine Directors, who shall be chosen by the members of said Corporation in the manner hereinafter provided, and shall hold their offices until others shall have been duly chosen and qualified in their stead, 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 the President of the Corporation, and shall have authority to choose a and Treasurer. Clerk, who shall be sworn to the faithful discharge of his duty, and a Treasurer, who shall give bonds to the Corporation with sureties to the satisfaction of the Directors in a sum not less than ten thousand dollars for the faithful discharge of his trust. And any two of the persons named in the first section of this Act are hereby author ized to call the first meeting of said Corporation by giving notice in one or more newspapers published in the County of Penobscot of the time and place and purpose of such meeting fifteen days at least before time mentioned in such

Directors may choose a Clerk

First meeting.

of Directors.

notice.

SECT. 3. Be it further enacted, That the President and Power and duty Directors for the time being are hereby authorized and empowered by themselves or their Agents to exercise all the powers herein granted to the Corporation for the purpose of locating, constructing and completing said Rail Road, and for the transportation of persons, goods property of all descriptions and all such power and au thority for the management of the affairs of the Corpora tion as may be necessary and proper to carry into effect the objects of this grant, to purchase and hold land, ma

and

terials, engines and cars and other necessary things in the name of the Corporation for the use of said road, 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 said Corporation as they may deem expedient and necessary in the execution and progress of the work, and direct the same to be paid to the Treasurer of the Corporation, and the Treasurer shall give notice of all such assessments; 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 such notice is given as shall be prescribed by the by laws of said Corporation, the Directors may order the Treasurer 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 shall sell for less than the assessments due thereon with the interest and cost 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 Proviso. be laid upon any shares in said Corporation of a greater

amount in the whole than one hundred dollars.

SECT. 4. Be it further enacted, That the said Corporation May make byshall have power to make, ordain and establish all neces- laws, &c. sary by laws and regulations consistent with the Constitution and the laws of this 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 Toll. is granted and established for the sole benefit of said 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,

of the Legislature

tent.

Corporation to make return to Governor and Council annually.

the construction of wheels, the form of cars and carriages, the weights 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. Provided, Subject to control that after ten years from the completion of said Rail Road to a certain ex- Whenever the profits arising from tolls or otherwise shall exceed the amount of twelve per centum per annum on the actual cost of said Rail Road, engines cars and other appurtenances necessarily connected therewith, and 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 months after such Rail Road shall have been put in operation, or any section thereof, to make returns to the Governor and Council of the actual cost of said Rail Road or section thereof, 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 Legislature may the year. And if the Legislature shall not be satisfied ination into their with such return, the Legislature may require an examination into the affairs of the Corporation in such manner as they shall 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 amount of twelve per centum per annum, or that any wilful evasion of this section has been practised by said Corporation, then the Legislature shall have a right to make such reductions of the charges for disbursements aforesaid, allowed and charged by said Directors, as shall be reasonable, and upon such basis so made as aforesaid, they may reduce the tolls and profits, if they shall judge it expedient so to do, but not below twelve per centum per annum. And further provided, that

require an exam

affairs.

Proviso.