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Woodward & Hageman, History of Burlington and Mercer Counties. 1883 The Burlington and Mount Holly Railroad and Transportation Company was incorporated by an act of the Legislature dated Feb. 11, 1848. The capital stock was one hundred thousand dollars, with liberty to increase it to one hundred and fifty thousand dollars, divided into shares of twenty-five dollars each. The road was to run from the city of Burlington to Mount Holly, the bed to be not more than seventy-five feet wide and its construction to commence within two years, and to be completed and in use within five years from the 4th day of July next ensuing. The charge for transportation of passengers was limited to not more than 5 cents per mile each, and for merchandise not more than ten cents per mile per ton if carried in the “carriages” of said company. The road was declared a public highway, and free for the passage of any railroad-carriage thereon with passengers or property with the payment of a toll of three cents per mile for each passenger, and three cents per mile for all property, and three cents per mile for each empty carriage. The State reserved the right to purchase the road after the expiration of thirty-five years, upon the appraised value, the said valuation not to exceed the fixed cost of said road, with the appendages thereof. As soon as completed the company was required to file in the office of Secretary of State a statement of the cost of the road, and when the net proceeds amounted to six per centum per annum upon its costs, to pay the State a tax of one-half of one per centum on the cost of said road annually. Sec. 18 provided that no part of the capital stock or money shall be used for banking. (pp. 60-61) The Burlington County Railroad Company – By a supplemental act dated March 20, 1857, the name of the Burlington and Mount Holly Railroad and Transportation Company was changed to the above title, and the company was authorized to construct an extension of their road from Mount Holly to Pemberton, in said county, and to New Egypt, in Ocean County. The capital stock was increased to [by] one hundred thousand dollars. (p. 61) Vincentown Branch of the Burlington County Railroad was incorporated by an act dated March 15, 1861. The capital stock was fifty thousand dollars, to be divided into shares of twenty-five dollars each. The road was to run from a point in the Burlington County Railroad at or near Charles Ewan’s house to Vincentown, with the privilege of building branches to any of the marl beds in the vicinity, said branches not to exceed two miles in length, the road not to exceed sixty-six feet in width, and the branches not to exceed fifty feet. The road was to be commenced within five years, and completed within ten years from the 4th of July next ensuing. It was empowered to demand for the transportation of passengers and merchandise not more than five cents per mile for each passenger, and ten cents per ton per mile for each ton of heavy merchandise, etc., but for dry goods, packages, and express freight the said company was allowed to charge such reasonable rates as they deem proper. By a supplementary act approved March 3, 1863, the road was authorized to consolidate with the Burlington County Railroad Company, under the name and title of the last named railroad. The State reserved to itself the usual tax when the net proceeds shall amount to seven per cent (the then legal interest of the State) per annum on its cost of construction. It was also provided that the Governor, the attorney general, the chancellor, the justices of the Supreme Court, and the judges of the Court of Errors, and the superintendent of public schools of the State, while traveling for the purpose of discharging the duties of their office, and members and offices of both houses of the Legislature during their sessions shall ride free on the said road. (pp. 61-62)
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