An Act Authorizing any Persons to Construct Lines of Electric Telegraph in the State of

Michigan.

[Approved January 28, 1847. Laws of 1847, p. 4.]

struct Line.

(1305.) SECTION 1. Be it enacted by the Senate and House of Who may conRepresentatives of the State of Michigan, That any person or persons may be, and they are hereby authorized to construct and maintain lines of Electric Telegraph, together with all necessary fixtures appurtenant thereto, from point to point, upon and along any of the public roads or highways, or railroads, and across any of the waters or bridges within the limits of this State, or upon the land of any individual, the owners of the land through which said Telegraphic Lines may pass having first given their consent: Provided, That the same shall not in any instance be so constructed as to incommode the public in the use of said roads, or highways and bridges, or endanger, or injuriously interrupt the navigation of said waters. (a)

shall have prece

(1306.) SEC. 2. At every Telegraphic office, established for what intelligence the purpose of communicating intelligence on any of the lines dence. constructed by virtue of the provisions contained in the foregoing section, communications received for the transmission

(a) As Amended by Act No. 10 of 1849, p. 7.

Annual Tax.

Lien of the State for Taxes.

Penalty for willful injury to Line.

Act may be altered or repealed.

of intelligence, upon any of said lines, shall have precedence in the order in which they are received, and be communicated accordingly; and any violation of the provisions of this section by any officer, person or persons having charge of, or employed in conducting or transacting the business of said office, shall be punished by fine, not exceeding one thousand dollars, or by imprisonment, not exceeding one year, or by both, at the discretion of the Court having cognizance of the same.

(1307.) SEC. 3. The owner or owners of any Telegraphic Line, constructed under the provisions of this act, shall pay to the State an annual tax of twenty-five cents upon every mile in length so constructed, in lieu of all other taxes, which shall be paid in the last week in January in each year, to the State Treasury.

(1308.) SEC. 4. The State shall have a lien upon any line constructed as aforesaid, and its appurtenances, for all taxes which may accrue thereon to the State, by virtue of the provisions of the foregoing section; and in case the tax, or any part thereof, shall remain unpaid at the time hereinbefore provided for its payment, then the State Treasurer shall have power, and it is hereby made his duty to advertise such line for sale for the amount of such tax remaining unpaid, in some newspaper published in the City of Detroit, by giving three weeks' previous notice, and to sell the same accordingly for the amount of tax, and interest and charges of sale: Provided, The same shall not be paid before the time of sale; and the surplus money, if any, shall be paid to the owner or owners of such line.

(1309.) SEC. 5. Any person or persons who shall knowingly or wilfully injure, molest or destroy, any of said lines or appurtenances belonging thereto, and any person who shall counsel or advise the injury, molestation or destruction of any of said lines or appurtenances thereto belonging, shall be deemed guilty of a misdemeanor, and be punished by fine not exceeding one thousand dollars, or imprisonment not exceeding one year, or both, at the discretion of the Court having cognizance thereof.

(1310.) SEC. 6. The Legislature may at any time alter, modify or repeal this act, and the same shall take effect and be in force from and after its passage.

An Act authorising any Five or more Persons to form Associations or Companies for the purpose of
Constructing any Line or Lines of Electric Telegraph in the State of Michigan.

[Approved March 5, 1847. Laws of 1847, p. 41.

the Construction of Lines of Telegraph.

265.

(1311.) SECTION 1. Be it enacted by the Senate and House of Associations for Representatives of the State of Michigan, That any five or more persons, who shall form an Association or Company, for the purpose of constructing and using any line or lines of Telegraph in this State, or commencing in this State and terminating elsewhere, shall be entitled to all the benefits, privileges and immunities, and subject to all the pains, penalties and liabilities, contained in an act entitled, "An Act to regulate Laws of 1846, p. Private Associations and Partnerships;" approved eighteenth See Chapter 33. day of May, one thousand eight hundred and forty-six, so far as the provisions of that act are consistent with the purposes of such Associations or Companies, and not inconsistent with the provisions of an act entitled, "An Act authorizing any persons to construct Lines of Electric Telegraph in the State of Michigan," approved the twenty-eighth day of January, one thousand eight hundred and forty-seven.

SEC. 2. This act shall take effect and be in force from and after its passage.

CHAPTER XXXV.

OF

MONEY

OF

ACCOUNT, AND OF THE INTEREST

OF MONEY, AND ON JUDGMENTS, VERDICTS, ETC.

Money of A c

count.

Notes, etc., ex

pressed in other

to be reduced to dollars, etc.

Chapter Thirty-Four of Revised Statutes of 1846.

(1312.) SECTION 1. The money of account of this State, shall be the dollar, cent, and mill; and all accounts in the public offices, and all other public accounts, and all proceedings in Courts, shall be kept and had in conformity with this regulation.

(1313.) SEC. 2. Nothing contained in the preceding section money of account shall vitiate or affect any account, charge or entry, originally made, or any note, bond, or other instrument expressed in any other money or account; but the same shall be reduced to dollars and parts of a dollar, as hereinbefore directed, in any suit thereupon.

INTEREST OF MONEY.

Rate of Interest.

(1314.) SEC. 2. The interest of money shall be at the rate of seven dollars upon one hundred dollars for a year, and at the same What rate parties rate for a greater or less sum, and for a longer or shorter time, except that in all cases it shall be lawful for the parties to stipulate in writing for the payment of any rate of interest, not exceeding ten per cent. per annum.

may stipulate for.

Penalty therefor.

(1315.) SEC. 4. No bond, bill, note, contract or assurance, Usury, and the made or given for, or upon a consideration or contract, whereby or whereon a greater rate of interest has been, directly or indirectly, reserved, taken or received, than is allowed by law, shall be thereby rendered void; but in any action brought by any person on such usurious contract or assurance, except as is provided in the following section, if it shall appear that a greater rate of interest has been, directly or indirectly reserved, taken or received, than is allowed by law, the plain- 1843, p. 54. tiff shall have judgment for the principal and legal interest only, exclusive of the usury.

Wal. Ch. R. 529.

to affect negotia

(1316.) SEC. 5. In any action brought on any bill of exchange, When Usury not or promissory note payable in money, and to order or bearer, ble notes, etc. originally given or made for, or upon any usurious consideration or contract, if it shall appear that the plaintiff became, in good faith, the indorsee or holder of such bill of exchange or promissory note, for a valuable consideration, before the same became due, then and in such case, unless it shall further appear that the plaintiff, at the time of becoming such indorsee or holder, had actual notice that such bill or note was given for, or upon a usurious consideration or contract, he shall be entitled to recover thereon, in the same manner, and to the same extent, as if such usury had not been alleged and proved. (a)

INTEREST ON JUDGMENTS, VERDICTS, ETC.

ments and De

(1317.) SEC. 6. Interest may be allowed and received upon Interest on Judg all judgments at law, for the recovery of any sums of money, crees. and upon all decrees in Chancery for the payment of any sums of money, whatever may be the form or cause of action or suit in which such judgment or decree shall be rendered or made; and such interest may be collected on execution, at the rate of seven per centum per annum: Provided, That on a judgment rendered on any written instrument, having a different rate, the interest shall be computed at the rate specified in such instrument, not exceeding ten per centum. (b)

(a) For former Statutes relative to the rate of Interest and Usury, see Code of 1820, p. 292; Revision of 1827, p. 257; Laws of 1829, p. 52; Revision of 1833, p. 343; Revised Statutes of 1838, p. 160; Laws of 1843, p. 54.

(b) As Amended by an Act to Amend Section Six, Chapter Thirty Four, Title Six, of the Revised Statutes of 1846. (Approved February 10, 1855. Took effect May 16, 1855. Laws of 1855, p. 131.)