Shepherdsville, Bardstown Junction, and Pitt's Point Turnpike Road Company

The Kentucky General Assembly, in 1869, passed an act to incorporate the Shepherdsville, Bardstown Junction, and Pitt's Point Turnpike Road Company. This Act is transcribed below, and is taken from Acts of the General Assembly of the Commonwealth of Kentucky, 1869, pages 584-6.

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Be it enacted by the General Assembly of the Commonwealth of Kentucky:

§ 1. That a company shall be, and the same is hereby, incorporated, for the purpose of building a turnpike road from Shepherdsville to Pitt's Point, by way of Bardstown Junction, upon the nearest and most practicable route between said points named above, under the name and style of the "Shepherdsville, Bardstown Junction, and Pitt's Point turnpike company;" and by that name and style may sue and be sued, contract and be contracted with, plead and be impleaded; and use and have a common seal, and alter or amend the same at pleasure.

§ 2. The capital stock of said company shall he sixteen thousand dollars, to be increased or diminished at the pleasure of the company, and to be divided into shares of one hundred dollars each.

§ 3. Books of subscription of stock shall be opened by Robert Greenwell, William Dawson, Leander Lee, J. P. McAfee, A. H. Bowman, J. F. Smith, and Henry Trunnell, who are hereby appointed commissioners for that purpose, at such time and place as they may deem proper. They shall insert in said subscription book an obligation as follows, viz: We, whose names are hereunto subscribed, severally promise to pay to the president and directors of the Shepherdsville, Bardstown Junction, and Pitt's Point turnpike road company, the sum of one hundred dollars for every share of stock set oposite 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: Provided, however, That the sum of said stock, or any part thereof, may be paid in work on said road,subject to such regulations as the board of directors may deem proper.

§ 4. When the sum of seven thousand dollars shall have been subscribed to the capital stock, it shall be the duty of the commissioners named to give notice, in such manner and at such time as they may think proper, of a meeting of the stockholders, at such time and place as the notice may designate, for the purpose of electing a president and five directors; one vote shall be allowed for each share of stock; and the president and directors shall continue in office for one year, and until their successors are qualified; the time and place of election after the first shall be fixed by the president and directors; a majority of the board shall be competent to do business.

§ 5. That no person shall be eligible as president or director who is not the owner, in his own name, of one or more shares of stock in said road.

§ 6. Said corporation shall fix and regulate the grade of said road, and its covering with stone or gravel; may designate the place of tollgates, fix the rates of toll, and regulate and change the same; but such rates shall not exceed those prescribed by general law. They shall have power, after two miles and a half of the road is completed, to erect a gate and collect tolls, and apply the same to the completion of the road.

§ 7. It shall be lawful for the officers and employes of the company, with their tools and appliances, to enter upon the lands over and contiguous to which the intended road shall pass, having first given notice to the owners or occupants thereof. They shall have the right to take and receive the right of way over and through the lands where said road shall be located. If, in any instance, they cannot procure the right of way, and cannot agree with the owner or owners of lands through which said road is to pass, as to the damages which said owner will sustain by reason thereof, then the president shall apply to the county court of the county wherein the land is located for a writ of ad quad damnum to assess the damages which may be sustained; and, upon the payment or the tender of the damages assessed, it shall be lawful for the company to open and make said road, and do all the work pertaining thereto.

§ 8. 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 its payment.

§ 9. The president and directors may appoint annually such officers as they deem necessary, with such compensation as they may deem just, among whom the treasurer shall give bond and security, in such sum as they deem discreet, conditioned to pay over all sums in his hands to the order ot the board.

§ l0. When the stockholder shall have made full payment; of his stock, it shall be the duty of the president, over his signature, to issue certificates of stock to all persons entitled to the same, attested by the secretary of said company.

§ 11. The provisions of the most favored charter shall apply to this charter in the same manner and to the same extent as if embraced herein.

§ 12. That the president and directors may put any part or parts of said road under contract, whenever eight thousand dollars of the capital stock shall be taken, and the reminder whenever they shall think a sufficient amount of stock is taken to complete said road.

§ 13. It shall be the duty of the president and directors to keep a record of their proceedings in a well-bound book, and the same shall be open to inspection by the stockholders in said road at all times.

§ 14. This act shall take effect from its passage.

Approved March 3, 1869.

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