Page:1863-64 Territory of Dakota Session laws.djvu/159

 150 PAILROADS.

dollars, to be divided into shares of - dollars each, which said capital may be increased from time to time by a vote of a majority of the directors cf the corporation, the sum of six millions of dollars: Provided, That the sum be requisite to the completion and fulfillment of the objects and purposes of the corporation hereby created; and the aforementioned persons shall be, and constitute the first board of directors, and may have and exercise all the powers, rights, privileges, and immunities which are or may be necessary to carry into effect the purposes and objects of this act as hereinafter set forth.

Sec. 2. Said directors shall organize the board as soon as practicable after the passage of this act, by electing one of their number president, and by appointing a secretary and treasurer, Which organization shall be certified by said directors, or a majority of them, and such certificate shall be recorded in the record book of said company; and said record shall be sufficient evidence of the facts therein stated, and said directors shall hold their offices until the first Monday of Janury [sic], 1863, and until their successors shall be elected and qualified, as hereinafter provided. All vacancies in said board may be filled by a vote of a majority cf the directors present at any regular meeting of the board, or at a special meeting called for that purpose.

Sec. 3. The said company are hereby authorized and empowered to locate, and, from time to time, to alter, change, re-locate, construct, re-construct, and fully to fiinsh [sic], perfect, and maintain a railroad, with one or more tracks, commencing at a point on the boundary line between the State of Minnesota and the Territory of Dakota, where said line shall or may be intersected by a railroad running west from the State line of Minnesota; thence to Sioux Falls; thence to some practicable point on the Missouri river, between the town of Vermilion and Fort Randall, inclusive of said town of Vermilion and Fort Randall; and said company are further authorized to use and operate said railroad, and shall have power and authority to regulate the time and manner in which persons, goods, and effects shall be transported on the same, and to prescribe the manner in which said railroad shall be used, and.the rate of toll for the transportation of persons and property under their