Page:Acts, Resolutions and Memorials, Adopted by the First Legislative Assembly of the Territory of Arizona.djvu/40

34 whether said company have complied, in all respects, with the provisions of this act; and the Governor, if he agrees in opinion with said commissioner that said company has in all respects complied with the provisions of the act, shall have made a certificate of the fact to said company, and the Governor shall communicate all said papers to the Legislative Assembly at its next session thereafter.

No tolls or charges shall be collected from any foot passenger for travel on said road, nor from any Indian or Indians, unless he or they be employed in driving or herding cattle, belonging to other persons, liable to pay toll; nor for any water or grass used by man or beast travelling thereon; and unless the requirements of section five of this act be complied with, this act shall become null, and all the rights and privileges herein granted shall be forfeited by said company.

The privileges conceded to said company, as heretofore set forth and qualified, are, and shall be, and continue, for the term of ten years from and after the passage of this act, and, at the expiration of said term, said road shall be relinquished by the said company, in good order, to the Territory or State, as the case may be; said company retaining any houses, lands, or other improvements not necessarily required in actual passage over said road.

If any person shall neglect or refuse to pay the toll authorized by this act, for any animals or teams owned or driven by him, when demanded by any person authorized to receive the same, he shall be liable for double the amount of toll legally due from him, to be collected on complaint, in the name of the company, in any court of competent jurisdiction, and the wagon or wagons, and the animal or animals, owned by him or in his charge, shall be liable to be taken on attachment or execution to satisfy the judgment which may be obtained.

That the capital stock of said company shall consist of thirty thousand dollars ($30,000), which may, at any legal meeting of the stockholders of said company, be increased to sixty thousand dollars ($60,000), to be divided into shares of fifty dollars ($50) each, and each one of said shares shall be considered as personal property, and may be bought and sold, assigned or transferred, in the manner, and in such place as the stockholders, or a majority of them, may prescribe in their rules and regulations.

That the officers of said company shall consist of a president, secretary, and treasurer, and three directors, who shall be stockholders of said company, and shall be elected by the stockholders of said company, or by a majority of them legally assembled, and shall hold their offices for one year from and after their election, and until their successors shall be duly elected; and such officers may be removed from office whenever a majority of stockholders present at any legal meeting called for that purpose shall determine that they have been guilty of mismanagement or fraud in the discharge of their duties.

The meeting to organize said company under this act shall be held at Prescott, on the first Monday of December next, and a majority of the persons named therein shall constitute a quorum for the transaction of business, and they may make by-laws and transact any other business that may be necessary to organize this corporation.