Condemna erty. Incorporation of railroad companies. jexceeding the amount unpaid on the stock held by him, for any and all debts and liabilities of such corporation, until the whole amount of the capital stock of such corporation so held by him shall have been paid. 18. § 17. If any such corporation shall be unable to tion of prop- agree with the owner for the purchase of any real estate required for the purpose of its incorporation, or the transaction of its business, or for its depots, station buildings, machine and repair shops, or for right of way or any other lawful purpose connected with or necessary to the building, operating or running of said road, such corporation may acquire such title in the manner that may be now or hereafter provided for by any law of eminent domain. [See "Eminent Domain," ch. 47. Acquiring material. Laying out, construction and using roads; fix rates; borrowing money. 19. 18. Any such corporation may, by their agents and employés, enter upon and take from any land adjacent to its road, earth, gravel, stone or other materials, except fuel and wood, necessary for the construction of such [*803] railway, paying, if the owner of such land and the said corporation can agree thereto, the value of such material taken and the amount of damages occasioned thereby to any such land or its appurtenances; and if such owner and corporation cannot agree, then the value of such material, and the damage occasioned to such real estate, may be ascertained, determined and paid in the manner that may now or hereafter be provided by any law of eminent domain, but the value of such materials and the damage to such real estate, shall be ascertained, determined and paid for before such corporation can enter upon and take the same. [See "Eminent Domain," ch. 47. 20. § 19. Every corporation formed under this Act shall, in addition to the powers hereinbefore conferred, have power: First-To cause such examination and survey of its proposed railway to be made as may be necessary to the selection of the most advantageous route; and for such purpose, by its agents, officers or servants, may enter upon the lands or waters of any person or corporation, but subject to responsibility for all damages which shall be occasioned thereby. Second-To take and hold such voluntary grants of real estate and other property as shall be made to it, in aid of the construction and use of its railway, and to convey the same when no longer required for the uses of such railway, not incompatible with the terms of the original grant. Third-To purchase, hold and use all such real estate and other property as may be necessary for the construction and use of its railway, and the stations and other accommodations necessary to accomplish the object of its incorporation, and to convey the same when no longer required for the use of such railway. Incorporation of railroad companies. Fourth-To lay out its road, not exceeding 100 feet in width, and to construct the same; and for the purpose of cuttings and embankments, to take, as much more land as may be necessary for the proper construction and security of the railway, and to cut down any standing trees that may be in danger of falling upon or obstructing the railway, making compensation therefor in the manner provided by law. Fifth-To construct its railway across, along or upon any stream of water, watercourse, street, highway, plank road, turnpike or canal, which the route of such railway shall intersect or touch; but such corporation shall restore the stream, watercourse, street, highway, plank road and turnpike thus intersected or touched, to its former state, or to such state as not unnecessarily to have impaired its usefulness, and keep such crossing in repair: Provided, that in no case shall any railroad company construct a roadbed without first constructing the necessary culverts or sluices, as the natural lay of the land requires for the necessary drainage thereof. Nothing in this Act contained shall be construed to authorize the erection of any bridge, or any other obstruction, across or over any stream navigated by steamboats, at the place where any bridge or other obstruction may be proposed to be placed, so as to prevent the navigation of such stream; nor to authorize the construction of any railroad upon or across any street in any city, or incorporated town or village, without the assent of the corporation of such city, town or village: Provided, that in case of the constructing of said railway along highways, plank roads, turnpikes or canals, such railway shall either first obtain the consent of the lawful authorities having control or jurisdiction of the same, or condemn the same under the provisions of any eminent domain law now or hereafter in force in this State. [See "Cities," etc., ch. 24, § 62, items 26, 27, 90. Sixth-To cross, intersect, join and unite its railways with any other railways before constructed, at any point in its route, and upon the grounds of such other railway company, with the necessary turnouts, sidings and switches and other conveniences in furtherance of the objects of its connections; and every incorporation whose railway is or shall be hereafter intersected by any new railway, shall unite with the corporation owning such new railway in forming such intersections and connections and grant [*804] the facilities aforesaid; and if the two corporations cannot agree upon the amount of compensation to be made therefor, or the points and manner of such crossings and connections, the same shall be ascertained and determined in manner prescribed by law. What personal property. Issue of bonds and stock limited. Consolidation. Incorporation of railroad companies. Seventh-To receive and convey persons and property on its railway, by the power and force by steam or animals, or by any mechanical power. Eighth-To erect and maintain all necessary and convenient buildings and stations, fixtures and machinery, for the construction, accommodation and use of passengers, freight and business interests, or which may be necessary for the construction or operation of said railway. Ninth To regulate the time and manner in which passengers and property shall be transported, and the compensation to be paid therefor, subject, nevertheless, to the provisions of any law that may now or hereafter be enacted. [See $ 25, 27. Tenth-From time to time borrow such sums of money as may be necessary for completing, finishing, improving or operating such railway, and to issue or dispose of its bonds for any amount so borrowed, and to mortgage its corporate property and franchises to secure the payment on any debt contracted by such corporations for the purpose aforesaid: but the concurrence of the holders of two-thirds in amount of the stock of such corporation, to be expressed in the manner and under all the conditions provided in the fifteenth section of this Act, shall be necessary to the validity of any such mortgage; and the order or resolution for such mortgage shall be recorded as provided in the second section of this Act; and the directors of such corporation shall be empowered, in pursuance to any such order or resolution, to confer on any holder of any bond for money so borrowed, as aforesaid, the right to convert the principal due or owing thereon in stock of such corporation at any time not exceeding ten years after the date of such bond, under such regulations as may be provided in the by-laws of such corporation. [See § 30, 33. 21. § 20. The rolling stock and all other movable property belonging to any such corporation shall be considered personal property, and shall be liable to execution and sale in the same manner as personal property of individuals. [See Const., Art. II, § 10. 22. § 21. No such corporation shall issue any stock or bond, except for money, labor or property actually received and applied to the purposes for which such corporation was organized. All stock dividends, and other fictitious increase of capital stock or indebtedness of any such corporation shall be void. [See Const., Art. II, § 13. 23. § 22. No such corporation shall consolidate its capital stock with any other railway owning a parallel or competing line. And in no case shall any consolidation take place, except Incorporation of railroad companies. upon sixty days' notice thereof given, which notice shall be given in manner and form as prescribed in the fifteenth section of this Act. [See Const., Art. II, § 11. port. 24. § 23. The directors of every such corporation shall Annual reannually make a report, under oath, to the Auditor of Public Accounts and to such other officers as may be designated by law, of all its actings and doings, which, in part, shall include such matters relating to such corporations as may be now or hereafter prescribed by law. [See Const., Art. II, § 9. legislature. 25. § 24. The General Assembly shall have power to Powers of enact, from time to time, laws to prevent and correct abuses, and to prevent unjust discriminations and extortions in the rates of freight and passenger tariff, and to establish reasonable maximum rates of charges for the transportation of persons or property on any railway that may be constructed under the provisions of this Act, and to enforce such laws by adequate penalties to the extent, if necessary for that purpose, of forfeiture of the property and franchise of any such corporation. [See Const., Art. II, § 15. voting. *805] 26. § 25. In all elections for directors or mana- Cumulative gers of such railway corporations every stockholder shall have a right to vote, in person or by proxy, for the number of shares of stock owned by him, for as many persons as there are directors or managers to be elected, or to cumulate said shares and give one candidate as many votes as the number of directors multiplied by the number of his shares of stock shall equal; or to distribute them, on the same principle, among as many candidates as he shall think fit; and such directors or managers shall not be elected in any other manner. [See § 8; also, Const., Art. II, § 3. aid induced. 27. § 252. In all cases, when any corporation organized Rates when under this Act to induce aid in its construction, either by donation or subscription to its capital stock, shall desire to fix the rates for any period of time for the transportation. of passengers or freight, such corporation may adopt a resolution for fixing such rates, and the time for which the same is to be fixed, and have the same recorded in the office of the recorder of deeds in the several counties through which said road is proposed to be run; and during the time for which they are fixed, said rates shall in no case be amended by said corporation or its successors: Provided, that said rates shall not exceed the rate allowed by law. 28. § 26. If any railway corporation organized under Limitation. this Act shall not, within two years after its articles of association shall be filed and recorded as provided in the second section of this Act, begin the construction of its road, and expend thereon 25 per cent of the amount of its capital within five years after the date of its organization, or shall not finish| Repeal savings, benefit etc. Incorporation of railroad companies. the road and put it in operation within ten years from the time of filing its articles of association, as aforesaid, its corporate existence and powers shall cease. 29. § 27. That an Act entitled, "An Act to amend 'An of this act, Act to provide for a general system of railroad incorporations, approved Nov. 5, 1849,'" approved Feb. 13, 1857, and also all of an Act entitled, "An Act to provide for a general system of railroad incorporations," approved Nov. 5, 1849, except the sections of the last named Act numbered 34, 35, 36, 37, 38, 39, 40, 41, 42 and 45,* and all laws in conflict with the provisions of this Act, be and the same are hereby repealed: Provided, however, that all general laws in this State in relation to railroad corporations, and powers and duties thereof, so far as the same are not inconsistent with the provisions of this Act, shall remain in force and be applicable to railroad incorporations organized under this Act. The repeal of the acts and parts of acts mentioned in this section shall not be construed so as to affect any rights acquired thereunder; but all corporations formed or attempted to be formed under such acts or parts of acts, notwithstanding any defects or omissions in their articles of association, may, if they will adopt, or have adopted this Act, be entitled to proceed thereunder, and have the benefits of this Act, and all such corporations that have adopted or that will adopt this Act are hereby declared legal and valid corporations, within the provisions of this Act, from the date of their filing of their respective articles of association. And the fixing of the terminal by any such corporation shall have the same effect as if fixed by the General Assembly: Provided, that all corporations to which this Act shall apply shall be held liable for, and shall carry out and fulfill all contracts made by them, or for, or on their behalf, or of which they have received the benefit, whether such corporation, at the time of making of such contract or contracts, was organized or had attempted to organize under the general laws of the State of Illinois, or not; whether said contract was for right of way, work and labor done, or materials furnished, or for the running of trains or carrying passengers or freight upon such roads, or upon any other road in connection therewith. And if such corporation has or does take possession of or use such right of way, labor or material so furnished by other persons or corporations, it shall be evidence of its acceptance of such contract so entered into by such person or corporation with said persons or corporations for its benefit. And upon said corporation failing to pay said sum as it ought equitably to pay for such right of way, labor or materials, or fail to carry NOTE. The whole of said Act of Nov. 5, 1849, repealed March 31, 1874. [See Ch. 131, No. 135. |