1881. Rev. 1888, §3923. 1899, ch. 31. 1903, ch. 173. may be deducted from any payments due or to become due to the lessor, on account of such contract or lease. § 2427. Returns as to railroads and railways in other 1895, ch. 74. state, or boat company. Every railroad company in this state, which holds by lease or otherwise a railroad or railway in another state which is not a part of its own road, shall state in its annual return for the purposes of taxation how much of its funded and floating debt was occasioned by, and how much of its capital stock was issued for, any amount which has been expended by it in the construction or permanent improvement of such railroad or railway in another state, or in the purchase of equipment for exclusive use thereon; and how much of its capital stock was issued, under the provisions of any law of this state, in exchange for, or purchase of, the capital stock or obligations of any railroad or railway corporation whose line of railroad or railway is without the limits of this state; and how much of its funded and floating debt was occasioned by such exchange or purchase; and, in computing the amount of the tax to be paid by said company to this state, the amount of such funded or floating debt, and of such stock so occasioned or issued as aforesaid, shall be first deducted from the total amount of its funded and floating debt and stock; and such railroad company shall in said return report how much of its funded and floating debt was occasioned by, and how much of its capital stock was issued for, the purchase of the capital stock or obligations of any steamboat company operating a line of steamboats in connection with the line of said railroad company; and, in computing the amount of tax to be paid by such railroad company to this state, the amount of such funded and floating debt and of such capital stock shall be deducted from the total amount of its funded and floating debt and stock. 1875. Rev. 1888, §3924. § 2428. Returns by railroad mortgagees in possession. The mortgagees or trustees of any railroad lying in whole or in part in this state, who have, or shall hereafter, come into possession of the same by virtue of any mortgage thereof, shall, within the first ten days of October, annually, so long as they remain in possession of said railroad, deliver to the comptroller a sworn statement of the value of said road, its equipment and other property located in this state, and in their hands, as such mortgagees or trustees. 1875. § 2429. Tax on railroad in hands of mortgagees or Rev. 1888, $9995. trustees. Said mortgagees or trustees shall, on or before the twentieth day of October in each year, or as soon thereafter as the earnings of said road or other moneys in their hands will allow, pay to the state a sum equal to one per cent. on the value of said road, equipment, and other property, less the amount of taxes paid by them on any real estate in their hands not used for railroad purposes. § 2430. Return and payment when another company buys railroad. In all cases in which the road and estate of any railroad company has been, or shall be, foreclosed under any mortgage executed by it, and any other railroad company has become or shall become, by purchase or otherwise, the owner of said road and estate so foreclosed, such other company shall make the returns and payments required by this chapter, and any funded or floating indebtedness for which such railroad and estate is liable shall be considered, for the purpose of this enactment, as the indebtedness of said company, whether the same may have been contracted by it or by some predecessor in title. § 2431. Taxes to be liens on railroad property. Any and all taxes which shall become due to the state from any railroad company, or from the mortgagees or trustees of any railroad under the provisions of this chapter, shall be and remain a lien on the road and property on account of which said tax is imposed, until the same shall be paid, and shall take precedence of any and all other incumbrances and liens whatever. 1875. Rev. 1888, §8926. 1875. Rev. 1888, §3927. 1905, ch. 264. § 2432. Taxation of street railways. The existing 1893, ch. 209. statutes with regard to the taxation of railroads shall apply, extend to, and include all street railways of every description. Taxation of corporations doing an express business 1907, ch. 268. wholly on lines of electric railway. Every corporation. conducting an express business wholly on lines of electric or street railways within this state, shall annually, within the first ten days of October, deliver to the tax commissioner a statement, sworn to by its treasurer or other accredited officer or agent, showing the gross receipts of said corporation for its 1887. Rev. 1888, $3931. 1899, ch.171. express business conducted wholly on the lines of electric or street railways within this state during the year preceding the first day of July then last past; and each such corporation shall annually, within the first twenty days of October, pay to the state two per centum of such gross receipts, which sum shall be in lieu of all other taxes upon the property of such corporation used in the conduct of such express business. § 2442. Value of certain railroad stocks, how determined. If any railroad company, during the two years ending on the thirtieth day of September next preceding the time for making such annual returns, has paid regular dividends at the same annual rate per cent. on all or any class of its shares of stock, the market value of each share of such stock, or class of stock, as the case may be, for the purpose of the returns so to be made as aforesaid, shall be the average of the closing bids or prices offered for said stock or any shares thereof during the twelve consecutive months preceding the time for making such returns, as regularly published by any board of brokers, such board being named in said returns; and every party whose duty it is to make such returns shall adopt, in making the same, such average price as the invariable standard of said market value, and the board of equalization in examining and correcting said returns, and in making out the statements required to be made, as the case may be, shall conform to and adopt such valuation, unless they shall be of the opinion that the interests of the state require that the market value of said stock shall be otherwise ascertained, in which case they may find, upon the best information which they can obtain, and fix, a different valuation. As to all other shares of stock in any railroad company, the market value thereof shall be ascertained and returned, as far as possible, in the same manner as is herein before provided for the shares of stock upon which regular dividends have been paid as aforesaid, but in such returns any facts may be stated showing that such market value differs from the true value, and the board of equalization, in examining and correcting said returns and in making out the statements required to be made, shall regard said market value, if it can be so ascertained, as the proper standard of the value of such shares, unless from the facts stated, or from other information, they shall think it proper to adopt a different valuation, which they in such cases may do. § 2443. Valuation in certain cases. In all cases where for any reason it is not possible or feasible to fix or ascertain the market value for any stock in the manner aforesaid, it shall be returned by the party, whose duty it is to make such return, at the price of the last reported market sale of said stock, and in such cases the board of equalization may, in correcting said returns, and making out any statements so required to be made, fix and determine, according to the best information which they can obtain, any valuation for said stock which they may think proper. § 3335. Proxies limited. No person shall vote at any meeting of the stockholders of any bank, trust company, or railroad company, by virtue of any power of attorney not executed within one year next preceding such meeting. No such power shall be used at more than one annual meeting. Proxies at stockholders' meetings. At all stockholders' meetings stockholders may vote in person or by an attorney duly authorized by a written power. Every share of stock shall entitle the holder thereof to one vote except when otherwise provided in its charter or certificate of incorporation or in any statute affecting it, and persons holding stock in a fiduciary capacity and pledgors of stock shown to be such by the record of transfer shall have the same voting rights upon shares of stock so held as any holder of such shares would have, except that pledgors in the transfer of stock may expressly empower the pledgees to vote thereon. No proxy hereafter made shall be valid after the expiration of eleven months from the date of its execution unless a longer term be expressly provided for therein. TITLE TWENTY-SIX. RAILROAD AND RAILWAY CORPORATIONS, AND RAIL- CHAPTER 212. Organization and Powers of Steam Railroad 1831, 1852. Rev. 1888, §1927. 1905, ch. 171. Railroad companies. § 1. Every railroad company 1905, ch. 126. may hold such real estate as may be convenient for accom 1871. Rev. 1888, $3438. 1867, 1882. Rev. 1888, $3439. plishing the objects of its organization; may by its agents enter such places as may be designated by its directors, for the purpose of making surveys and determining the line whereon to construct its railroad; and may construct, equip, and maintain a railroad, with one or more tracks, over the route specified in its charter, and transport persons or property thereon by any power. § 2. No land shall be taken without the consent of its owner, except within two years after the approval of the location of the route by the railroad commissioners. When the lands of any feme covert, infant, cestui que trust, or person non compos mentis, shall be necessary for the construction of a railroad, said land may be taken on giving notice to the husband of such feme covert, the trustee of such cestui que trust, the guardian, either natural or appointed, of such infant, and the conservator of such person non compos mentis, who may respectively give releases for all damages for lands so taken, as fully as if the same were holden in their own right. § 3. Sections 3658 to 3669, inclusive, and sections 3672 to 3679, inclusive, of the general statutes are hereby repealed. § 3670. Company's powers. Every railroad company may hold such real estate as may be convenient for accomplishing the objects of its organization; may by its agents enter such places as may be designated by its directors, for the purpose of making surveys and determining the line whereon to construct its railroad; and may construct, equip, and maintain a railroad, with one or more tracks, over the route specified in its charter or articles of association, and transport persons or property thereon by any power. § 3671. Right to take land limited. Lands of infants and others. No land shall be taken except as hereafter in this chapter provided, without the consent of its owner, except within two years after the approval of the location of the route by the railroad commissioners. When the lands of any feme covert, infant, cestui que trust, or person non compos mentis, shall be necessary for the construction of a railroad, said lands may be taken on giving notice to the husband of such feme covert, the trustee of such cestui que trust, the guardian, either |