In 1871 the Kentucky General Assembly passed an act to incorporate the Shepherdsville and Belmont Furnace Turnpike Road Company. A transcription of the Act is given below. If you can share any additional information about this corporation and/or the road itself, please use our "Contact Us" link at the top of this page and write to us.
AN ACT to incorporate the Shepherdsville and Belmont Furnace Turnpike Road Company.
Be it enacted by the General Assembly of the Commonwealth of Kentucky:
§ 1. That a company is hereby formed for the purpose of building a turnpike road from Shepherdsville to Belmont Furnace, over the most suitable ground from the one point to the other to be styled the "Shepherdsville and Belmont Furnace Turnpike Road Company."
§ 2. The capital stock of said company shall be twenty thousand dollars, to be increased or diminished at the pleasure of the company, to be divided into shares of fifty dollars each.
§ 3. That books for the subscription of stock shall be opened by Henry Trunnell, W. Carpenter, A. H. Bowman, H. C. Maraman, Wm. Hays, James F. Smith, R. I. Hoglan, Benj. Chapeze, and James Moore, or any one or more of them, who, or such of them as may act, are hereby appointed commissioners for that purpose, at such times and places as they may deem proper; they shall insert in a book an obligation, as follows: "We, whose names are hereto subscribed, severally promise to pay to the president and directors of the Shepherdsville and Belmont Furnace Turnpike Road Company the sum of fifty dollars for each and every share of stock set opposite our names, in such manner and at such times as shall be by them required under the law incorporating said company, to be collected as other debts. Witness our hand this ___ day of ___."
§ 4. That when five thousand dollars shall have been subscribed to the capital stock of said company, it shall be the duty of the commissioners named, or any one or more of them, to give notice thereof, and call a meeting of the stockholders, at such time and place as he or they may think proper, for the purpose of electing a president and four directors; one vote shall be allowed for each share of stock; and the president and directors then chosen shall continue in office for one year, and until their successors are chosen and qualified. The time and place of each election thereafter shall be fixed by the president and directors, a majority of whom shall be competent to do business.
§ 5. So soon as said company is organized by election of the officers, the president and directors shall be a body-politic and corporate in law, by the name and style of the Shepherdsville and Belmont Furnace Turnpike Road Company, with the privileges and franchises of a corporation; shall be capable of holding their capital stock, and the increase and profits thereof; and holding by purchase, gift, or otherwise, all things necessary or proper for the prosecution of their work; they shall have power to contract and be contracted with, to sue and be sued, in all courts of law and equity, and generally to do all and every thing lawful for a corporation to effect the object for which said corporation was created.
§ 6. Said corporation shall fix and regulate the grade and width of said road and its covering with stone or gravel, may designate the place for the toll-gates, fix the rates of toll, not, however, exceeding the rate fixed by the general laws; they may erect a gate on said road when two and one half continuous miles of said road is completed.
§ 7. Said company is authorized and permitted by this charter to build a branch road to Wooldridge's ferry.
§ 8. That to further aid in building said road, and to equalize the burthen of building the same as nearly as possible, there is hereby levied and shall be collected a tax of one dollar on each acre of land lying within one and a half miles of said road on each side thereof; the tax levied to be used in the building of said road: Provided, however, Before this section of the act shall take effect it shall be submitted to the land-holders within the prescribed boundary, at an election to be held for that purpose, and at which widows owning land and the guardian of infants owning land, shall be competent voters; and unless a majority of the land-holders vote for the same, the officers of said road shall not exercise the powers conferred by this section of the charter; the election to be held at such time and places, and after such notice, as may be prescribed by the officers of the corporation.
§ 9. Should a majority vote in favor of said tax, then the officers may provide for the assessing and collection of said tax in such manner as they may determine, consistent with the laws of the State.
§ 10. It shall be lawful for the officers and employees of the company, with their tools and appliances, to enter upon the land over and contiguous to which the road shall pass, for the purpose of procuring gravel, stone, or timber for said road, having first given notice to the owners or occupiers three days; they shall have the right to take and receive the right of way over and through the land where said road shall be located, and the release of timber, stone, or gravel; and if they cannot agree with the owners, then the president shall apply to the county court of the county in which the land lies for a writ of ad quod damnum to assess the damages for the right of way, or for timber, stone, or gravel; and upon the payment or tender of the damages assessed, it shall be lawful for the company to open said road, and enter upon said land and take the stone, timber, or gravel necessary to do the work pertaining thereto.
§ 11. The commissioners and board of directors may receive subscriptions to be paid in work on said road, subject to such regulations as the board of directors may deem proper.
§ 12. The president and directors shall give notice as they may deem proper of the amount of call on each share of stock, and the time and place of payment.
§ 13. The president and directors may appoint such officers as they may deem necessary, aud prescribe their duties.
§ 14. This act shall take effect from its passage.
Approved March 14, 1871.
From Acts of the General Assembly of the Commonwealth of Kentucky Passed at the Adjourned Session (January 1871) of the General Assembly; pages 68-70.
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