and the holders thereof shall be entitled to the same dividends of all profits declared after said road shall be completed. SEC. 6. Be it further enacted, That the capital stock of the Christiansburg Turnpike Road Company be divided into shares of fifty dollars each, instead of one hundred dollars, as in the charter stipulated; and that the Commissioners appointed to open books be allowed to open the same for the subscription of stock on the second Monday in March, 1850, at the places and under the regulations prescribed in the original charter. Approved March 5, 1850 CHAPTER 375. AN ACT for the benefit of the heirs of John Rider. Whereas, it is represented that John Rider, late of Lincoln county, who was an Englishman, departed this life intestate in 1849, his heirs all being aliens, and he having title to certain lands in Boyle county, which, previous to his death, he had sold, but not conveyed, to one David Langford, which sale was evidenced by written agreement, and doubts exist whether his heirs can take his estate, and whether the said contract can be specifically enforced. Therefore, SEC. 1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That the heirs of John Rider, deceased, though aliens, are hereby declared capable, in law, of taking his estate, subject, however, to the claims of his creditors and the equity and rights of said Langford to have the said contract specifically executed; and the said Langford may file his bill in the Boyle Circuit Court against Rider's heirs, setting forth his contract, and upon traverse or answer and proper proof, the said court may decree the specific execution of the contract, and decree the conveyance from said Rider's heirs to said Langford; which conveyance, when made by a Commissioner, shall pass all the right, title, and property, which the said Rider had, or his heirs may have, in said lands, to the said Langford. SEC. 2. That the administrator of the said Rider shall pay over to the heirs of the said Rider all assets and proceeds of said estate which have come, or may come, to his hands, to which they may be legally or equitably entitled, which payment shall be good and valid in law. Approved March 5, 1850. CHAPTER 376. AN ACT for the benefit of the estate of James I. Morrison, deceased. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That it shall be lawful for the administrators and heirs (or either of them,) of James I. Morrison, deceased, to file, during vacation or in open court, as they may prefer, their petition in the Trigg Circuit Court, praying the sale of a portion of the land of said decedent, for the purpose of paying the debts due from said decedent's estate, instead of selling the slaves belonging to said estate, for the payment of said debts, and at the first term of said court after filing said petition, if the same be filed in vacation, or at the term at which the same is filed, if in term time-provided satisfactory proof be made to the Chancellor that it would be to the interest of all parties interested to sell lands instead of slaves-he may decree the sale of so much of the land as may be necessary to pay the balance of the debts against said estate, after having applied the proceeds of the sale of the personal property, (except the slaves,) of said estate to the payment of the debts against the same. Approved March 5, 1850. 1850. CHAPTER 377. AN ACT to incorporate the Bank Lick Turnpike Road and Bridge Com pany. Corporate name and pow. SEC. 1. Be it enacted by the General Assembly of the Commonwealth of Kentucky, That a company shall be and is hereby incorporated, as a body corporate and politic, in the ers. county of Kenton, by the name and style of the Bank Lick Turnpike Road and Bridge Company, for the purposes of constructing a road from some convenient point on the turnpike leading from Covington towards Independence, thence crossing Bank Lick creek below Taylor's mills, to Licking river, at or just above the mouth of said Bank Lick creek, a distance of about two and a half miles; also, of erecting a bridge across said Bank Lick creek where the road shall cross the same. SEC. 2. Be it further enacted, That the capital stock of said company shall not be more than ten thousand dollars, to be divided into shares of twenty five dollars each. SEC. 3. That books for the subscription of stock may be opened in the cities of Covington and Newport, and such other places as may be deemed best, under the direction of John S. Morgan, Herman Carlton, Daniel Mooar, James Taylor, jr., George T. Williamson, and F. M. Webster, or some one or more of them, all of whom are hereby appointed commissioners for the purpose of obtaining subscriptions to said road and bridge. And the said commis Capital stock. Books to be opened, &c. 1850. notice of open &c. Directors, pow sioners, or such of them as shall act, shall procure a book SEC. 4. That as soon as a majority of said commissionCom'rs to give ers, or a majority of those that shall act, shall be of opining of books, ion that a sufficient amount of stock is subscribed, to justify a commencement of said road, they may call a meeting of the stockholders, (having first given at least two weeks notice of the time and place of meeting, by publication in some one or more newspapers published in Covington or Newport,) and hold an election for President and five DiPresident and rectors, who shall hold their offices for one year, and until ers, duties, &c other like officers shall have been elected: Provided, that should a vacancy occur, the remainder of the Directors shall fill the same by appointment; and should the offices of the directory become vacant, from any cause, any three of the stockholders may call a meeting of the stockholders, as above mentioned, to fill such vacancies by an election. The Directors shall appoint a Treasurer, and such other officers as they may deem necessary; and the said TreasuTreasurer, his rer, before he enters upon the duties of his office, shall exduties, shall give ecute a bond to said company, with security, to be approved by the directory, in such penalty as they may deem necessary, conditioned that he will well and truly, in all things, perform the duties of his office; and whenever a demand shall be made on him by the directory, or its authorized agent, pay over as they may direct all sums of money in his hands as Treasurer, and hand over all books and papers belonging to the company; and the said Treasurer shall continue in office until the directory shall make another appointment: Provided, that no person but a stockholder shall hold the office of President or Director. bond, &c. SEC. 5. That upon the election and qualification of said Corporation Directors, they shall be a body politic and corporate, by the organized, name name and style of the Bank Lick Turnpike Road and ers and duties. Bridge Company, and by said name said company shall have perpetual succession, and all the privileges and franchises incident to a corporation; and shall be capable of and style, pow. taking and holding their capital stock and the increase and profits thereof; of purchasing and selling lands and tenements, as the same may be deemed necessary by said directory in the construction of said road; to sue and be sued, plead and be impleaded; to have a common seal ; and generally, to do all and every thing which may be requisite, and not contrary to the intention of this act. SEC. 6. That the President and Directors, after their election, shall make a call upon the different stockholders for payment upon their several subscriptions, which call may be made in such manner as they shall deem right and just : Provided, that the first call shall not be over twenty per centum on the amount subscribed, and may be less, in the discretion of said Directors: And, provided further, that all subscribers paying as much as twenty per centum, as aforesaid, at the first payment, shall be entitled to a notice of forty days upon any subsequent call. 1850. Calls on stock. Stock, how SEC. 7. That every stockholder shall be entitled to one vote on each share owned by him, to the number of four; voted on, &c. and shall be entitled to one vote for the next two shares; and for every four shares thereafter shall be entitled to one vote only. Certificates of SEC. 8. That the certificate of the President, countersign- stock. ed by the Treasurer, shall be evidence of ownership of stock in this company, and the same shall be transferable on the books of the Treasurer, in person, or by attorney, when all arrearages thereon shall have been paid, and not until then. President may Quorum. SEC. 9. That the President may call meetings of the Board of Directors at such times and places as he may call meetings. think proper; a majority of the Directors shall constitute a quorum, and in the absence of the President a majority of said Directors, as aforesaid, may elect a President pro tempore: Provided, that if, by the death of the President, or other cause, a meeting should not be so called when the business of the company shall demand it, any two of the Directors may call the same, first having given reasonable notice of the time and place of such meeting. That said Board of Directors shall have full power to pass all by-laws necessary to promote the interest of the stockholders, and to superintend the construction of said road, and the management and government of the same. SEC. 10. That said company shall have the power to complete the road before building the bridge aforesaid, and to erect a gate, at which they may charge half toll; and when said bridge is completed, said company may charge full toll, as though there was five miles of road; and said company may charge the same rates of toll as are allowed and prescribed by an act, entitled, an act regulating the tolls on turnpike roads, in which the Commonwealth is a joint stockholder, and for other purposes, approved February 25, May erect charged att speci fied, &c. 1850. may take stock, 1842; and all of the general laws of this Commonwealth relating to turnpike roads, and not inconsistent with this County Courts, act, may be considered as a part hereof: Provided, that it cities & towns shall and may be lawful for the County Court of any county in this Commonwealth, in its corporate capacity, and the Councilmen of any city, or the Trustees of any town, for the benefit of such city or town, to subscribe for stock in said company. The General Assembly of Kentucky hereby retain the right and power to alter, amend, change, or repeal the above and foregoing charter. Approved March 5, 1850. ees' names, &c., tions of stock. CHAPTER 378. AN ACT to incorporate the Lexington and Danville Railroad Company. SEC. 1. Be it enacted by the General Assembly of the ComCommission monwealth of Kentucky, That Henry C. Payne, John B. receive subscrip Tilford, Joseph Bryant, John Norton, F. K. Hunt, Edward Oldham, J. Č. Darby. W. S. Chipley, George W. Sutton, R. Wickliffe, Jr., John Curd, James A. Grinstead, George Robertson, James O. Harrison, William A. Leavy, Jacob Ashton, Richard Pindell, Benjamin Gratz, E. K. Sayre, Owen Winn, Samuel G. Jackson, Henry Bell, Samuel P. Letcher, John McMurtry, J. B. Johnson, Philip E. Yeiser, David S. Goodloe, and John G. Chiles, of Fayette county, Kentucky; George I. Brown, Cyrus Kenney, Tucker Woodson, Edward Carter, David Crozier, John Bradshaw, Archibald Young, Robert E. Woodson, and Otho Robards, of Jessamine county; John R. Bryant, Abram Smith, William Thompson, Christopher Graham, James Taylor, Frank Ballinger, Elijah Hutchison, Joel P. Williams, Thomas Hutchison, Isaac N. Thompson, and William J. Moberly, of Mercer county; Obadiah Garnett, James P. Mitchell, Albert G. Talbott, William Craig, Charles Henderson, Abram J. Caldwell, Clifton Rodes, Jeremiah T. Boyle, James S. Hopkins, Charles Caldwell, Joseph Weisiger, Joseph Smith, Thomas Barbee, James Barbour, John Barkley, John R. Ford, Charles H. Rochester, William W. Batterton, and John H. Caldwell, of Boyle county; Thomas Helm, Hayden J. McRoberts, R. W. Graham, Joseph Newland, George Dunlap, Sr., George W. Welsh, George F. Lee, and Robert M. Blain, of Lincoln county, be and they are hereby appointed commissioners, under the direction of any three or more of whom, in their respective counties, subscriptions may be received to the capital stock of "the Name & style Lexington and Danville Railroad Company" hereby incorporated; and they or any three or more of them may cause books to be opened, at such times and places in their respective counties as they may direct, and for the purpose of receiving subscriptions to the capital stock of said compa of company. |