190.02(12)
(12) Guarantee securities. Any railroad corporation organized and existing under the laws of this state or existing by consolidation of different railroad corporations under the laws of this state and any other state, and which owns singly or with other railroad corporations more than fifty per cent of the capital stock of another corporation, the capital stock of which it is authorized to own, is authorized by action of its board of directors to guarantee the payment of the principal and interest of bonds or other obligations of such other corporation, the capital stock of which is so owned by it, and to join with such other railroad corporations in guaranteeing the payment of principal and interest of bonds or other obligations of such other corporation, more than fifty per cent of the capital stock of which is owned by it and such other railroad corporations.
190.02 Annotation
Mineral estates reserved by railroad corporations from lands received from public domain discussed. 69 Atty. Gen. 204.
190.03
190.03
Office in state; books produced. Any railroad corporation existing under the laws of this state shall produce before the office of the commissioner of railroads, the legislature, or any committee of either house, or any court of record, its books of account and stock books, or so many and such parts thereof as may be required by them, or in the discretion of the office of the commissioner of railroads, legislature, committee or court, transcripts from such books, or such parts thereof as may be called for, duly authenticated; and each such railroad corporation shall designate some office within this state as its principal office and inform the office of the commissioner of railroads of such designation, and shall keep there or at the office of its transfer agents or registrars a list of its stockholders, giving the names and addresses of its stockholders, together with a statement of the number and class of shares of its stock held by each of them, as shown by its books. A failure or refusal to comply with any of the foregoing provisions shall be cause of forfeiture of its franchises.
190.04
190.04
Special charter rights. All railroad corporations shall have all peculiar rights and privileges granted to them respectively by their charters or any special law, not inconsistent with these statutes.
190.05
190.05
Railroads; powers in other states. Any domestic railroad corporation may exercise all its rights, franchises and privileges in any other state and may accept from any other state and use any additional or other powers or privileges applicable to the doings of said corporation in said state.
190.051
190.051
Branches and extensions. 190.051(1)
(1) Any railroad corporation may extend its road from any point named in its charter or articles of organization, or may build branch roads from any point on its line or from any point on the line of any other road connected or to be connected with its road, the use of which other road between such points and the connection with its own road such corporation shall have secured for a term of not less than ten years. Before making such extension or building any such branch road such corporation shall, by resolution of its directors, to be entered in the record of its proceedings, designate the route of such proposed extension or branch, and file, for record, a copy of such record, certified by the president and secretary, with the department of financial institutions. Thereupon such corporation shall have all the rights and privileges to make such extension or build such branch and receive aid thereto which it would have had if it had been authorized in its charter or articles of organization.
190.051(2)
(2) The requirements of this section shall not apply to permanent branches or extensions not exceeding five miles in length nor to temporary branches or extensions not exceeding ten miles in length.
190.051 History
History: 1995 a. 27.
190.06
190.06
Railroad consolidation; sale or lease of property. 190.06(1)(1) Any railroad corporation existing under the laws of this state, or by consolidation under said laws and the laws of other states, may consolidate with any other railroad corporation, and possess all of the powers, franchises and immunities, and be subject to all the liabilities and restrictions of railroad corporations generally, and such, in addition, as the combining corporations peculiarly possessed or were subject to at the time of consolidation. Articles of consolidation shall be approved by each corporation, by a vote of a majority of the stock at an annual meeting or at a special meeting called for that purpose or by the consent in writing of the holders of a majority of the stock annexed to such articles; and such articles, with a copy of the records of such approval or such consent and accompanied by lists of the stockholders and the number of shares held by each, duly certified by their respective presidents and secretaries, shall be filed for record with the department of financial institutions before any such consolidation shall have validity or effect.
190.06(2)
(2) Any such railroad corporation may upon like approval lease, or purchase the railroad, franchises and immunities, and all other property, and the stocks or bonds, or both, of any railroad corporation, or any portion thereof, when the road so purchased or leased will constitute a branch or feeder of, or be connected with or intersected by any line maintained or operated by such purchasing or leasing corporation, or which it is authorized to build, own, or maintain and operate. Any corporation taking such conveyance or lease shall have all the rights, privileges and immunities, and be subject to all the duties and restrictions of the lessor or grantor.
190.06(3)
(3) Any domestic railroad corporation may purchase and may upon like approval purchase and hold the stock or bonds of any other railroad corporation described in this section, or may purchase and hold the stock or bonds of any railway company to which it has furnished the money for the construction of its railway; or for money so furnished, or for such other consideration, as may be agreed upon between the companies, by their respective boards of directors, and take a conveyance of the whole or any portion of the franchises of any other such corporation and of the railway, property and appurtenances thereof. Any stock or bonds which shall have been issued by any purchasing corporation in consideration of any property by it purchased as authorized by this section, shall be deemed fully paid, but securities hereunder shall be issued only upon compliance with the law which requires a permit or certificate of authority.
190.06(4)
(4) All acts and purchases and conveyances made prior to April 24, 1897, by or to any domestic railway company which are authorized by this section, and all conditions and agreements upon which the stock and bonds of any such corporation have been and are to be issued including any and all terms and conditions as to price, voting power, dividends and trustees or otherwise, and as between different classes of stock or otherwise and all issues of stocks and bonds in accordance with such terms, conditions and agreements, are hereby in all things legalized, ratified and confirmed.
190.06(5)
(5) But no railroad corporation shall consolidate with, or lease or purchase, or in any way become owner of or control any other corporation, or any stock, franchises, rights or property thereof which owns or controls a parallel and competing railroad to and with the railroad owned or controlled and operated by such purchasing railroad corporation, to be determined by jury.
190.06 History
History: 1995 a. 27.
190.07
190.07
Railroad ferries on Lake Michigan. Any railroad corporation in this state may contract with the owner or operator of any railroad terminating on the eastern shore of Lake Michigan, within the state of Michigan, for the joint operation of their roads; and may build or buy, and operate vessels to facilitate transportation.
190.08
190.08
Streams, highways, restored. Every corporation constructing, owning or operating a railroad shall restore every watercourse, street, highway, road or canal across, along or upon which such railroad may be constructed to its former state or to such condition that its usefulness shall not be materially impaired and thereafter maintain the same in such condition against any effects in any manner produced by such railroad. And may acquire any lands required to change or restore any highway, street, canal or watercourse, and lands so taken shall become a part of such highway or street. This section shall not apply to sloughs or bayous closed by the government prior to April 14, 1893, to aid the navigation of rivers; but in case such sloughs or bayous are thereafter closed by any railroad company such company shall be liable in damages to any person owning lands thereon injured thereby. The statutes for acquiring land by right of eminent domain shall apply in assessing damages for such closing.
190.08 Annotation
Under this section, the railroad was under no responsibility to pay for the construction of a new railroad bridge necessitated by the channel alteration of the Kinnickinnic River as part of the improvement project, since the statute imposes only a duty to "restore" against effects "produced by such railroad," and the conditions necessitating the alteration were in no way produced by the railroad. Under both 190.08 and the common law the railroad was liable for the cost of replacing the Lincoln Creek bridge, which impeded the creek's flow and hindered its drainage function, since under the statute the railroad had a duty to restore the stream "to such condition that its usefulness shall not be materially impaired," and under the common law its duty was to continually maintain the bridge so as not to materially interfere with the water's natural flow. Metro. Sew. Dist. v. Chicago, M., St. P.& P. RR. 69 W (2d) 387, 230 NW (2d) 651.
190.08 Annotation
In absence of sufficient proof that old bridge was inadequate to carry increased water flow, railroad was not liable for cost of new bridge. Metropolitan Sew. Dist. v. Chgo. & N. W. Ry. Co. 78 W (2d) 119, 254 NW (2d) 190.
190.08 Annotation
This section didn't apply where DNR acquired abandoned railroad property to develop into hiking and biking trails.
77 Atty. Gen. 106.
190.085
190.085
Clearance of wrecks or derailments; restoration of damaged property. Every corporation constructing, owning or operating a railroad shall clear any railroad wreck or derailment from the right-of-way and adjoining property and restore or repair the right-of-way and adjoining property damaged by the wreck or derailment within 180 days after its occurrence. Any such corporation which violates this section shall forfeit to the state $100 for each violation and each day that the violation continues constitutes a separate offense.
190.085 History
History: 1979 c. 186.
190.09
190.09
Railroad cattle pass, abandonment. No railroad corporation shall close or obstruct any cattle pass or opening which shall have been used as a passageway for livestock across its right-of-way for a period of five years without having first secured the consent in writing of the abutting landowners.
190.09 History
History: 1993 a. 213,
490.
190.10
190.10
Railroad fixtures, after-acquired property, lien on. All rolling stock, locomotives, cars, automotive and motor vehicles, machinery, tools, equipment, fuel, supplies, materials, and other personal property of any railroad corporation used and employed in connection with the maintenance or operation of its railroad, for all purposes of this section and
s. 190.11, are hereby defined and declared to be appurtenant to such railroad as real property; and all such property and all additional rights-of-way, depot grounds and other real property acquired subsequently to the execution of any trust deed or mortgage which shall have been described or provided for therein shall be subject to the lien thereof to the same extent as the real property therein described which the corporation owned at the time of its execution.
190.10 History
History: 1993 a. 490.
190.11
190.11
Railroad conveyances, how executed and filed. 190.11(1)(1) Every conveyance or lease, deed of trust, mortgage or satisfaction thereof made by any railroad corporation shall be executed and acknowledged in the manner in which conveyances of real estate by corporations are required to be to entitle the same to be recorded, and shall be filed with the department of financial institutions, which shall endorse thereon "filed" and the date of filing.
190.11(2)
(2) A record of filing under
sub. (1) shall from the time of reception of the instrument have the same effect as to any property in this state described therein as the record of any similar instrument in the office of a register of deeds has as to property in his or her county, and shall be notice of the rights and interest of the grantee, lessee or mortgagee by such instrument to the same extent as if it were recorded in all of the counties in which any property therein described may be situated.
190.11(3)
(3) The department of financial institutions shall collect a fee of $1 per page filed under
sub. (1).
190.11(4)
(4) The department of financial institutions shall collect a fee at the rate under
s. 77.22 and, on or before the 15th day of the month after the fee is collected, shall remit that fee to the department of administration for deposit in the general fund.
Sections 77.21,
77.22 and
77.25 to
77.27 apply to the fee under this subsection.
190.12
190.12
Stock; sale to employes and subsidiaries. 190.12(1)(1) Any railroad company existing in whole or part under the laws of this state may, with the consent of the stockholders as hereinafter stated, issue and sell, under such restrictions and terms, and for such consideration as the stockholders shall authorize, any part or all of its unissued stock, or additional stock authorized pursuant to this section, to employes of the corporation or any subsidiary corporation, without first offering such stock for subscription to its stockholders. Such consent and authorization may be given at any annual or special meeting of the stockholders by a majority vote of all its stock, upon the same notice to stockholders as is provided in
s. 190.016. If any stockholder not voting in favor of said issue and sale of stock to employes so desires, the stockholder may, at such meeting, or within 20 days thereafter, object thereto by written notice filed with the secretary of the corporation and demand payment for the stock held by the stockholder at the time of such meeting, in which case such stockholders or the corporation may at any time within 60 days after such meeting file a petition in either the circuit court of Dane county or the circuit court of the county in which the principal office of the corporation within this state is located, asking for the condemnation of the shares of such dissenting stockholder and a finding and determination of the fair value thereof at the date of such stockholders' meeting.
190.12(2)
(2) The taking of shares of such dissenting stockholders in order to promote employe ownership in railroad enterprises is hereby declared to be a taking for a public use and the necessity therefor shall in all cases be determined by the railroad company. The circuit courts of the several counties in this state are hereby vested with jurisdiction to hear and determine condemnation proceedings instituted by such petition and to determine the fair value of such shares of stock, and to render judgment against the corporation for the said value thereof. Any and all such dissenting stockholders may join, or may be joined, in all such proceedings and the fair value of such shares of stock shall be equal to their market value, which in the case of stocks listed upon any stock exchange shall be the average price for which like shares of stock were sold upon such exchange during the week in which was held the stockholders' meeting aforesaid. Upon payment by the corporation to the said stockholder, or to the clerk of said court, of the value of such shares of stock so determined, such stockholder shall cease to have any interest in such shares or in the property of the corporation, and the stockholder's shares of stock shall be transferred to, and may be held and disposed of by the corporation as treasury stock. The corporation shall be liable for and shall pay to any such objecting stockholder the value of the objecting stockholder's shares of stock so determined. In case of failure or refusal of such stockholder to surrender for transfer the certificates representing such shares of stock, the filing with the secretary of said railroad company of a certified copy of the circuit court's order determining the value thereof together with a receipt from the clerk of said court showing full payment therefor by the railroad company, shall constitute full authority for the said company to issue new certificates in lieu of those in the hands of such dissenting stockholder, and such outstanding certificates shall thereupon be null and void.
190.12(3)
(3) Any such corporation may, at any such annual or special meeting of its stockholders held pursuant to the notice aforesaid, increase its capital stock in such amount as may be determined by like vote of its stockholders at such meeting to provide additional stock for issue and sale to such employes.
190.12(4)
(4) In the event such corporation by like vote of its stockholders at a subsequent meeting held pursuant to notice as specified in
sub. (1), shall, before the trial of any such condemnation proceeding, rescind the previous action respecting such issue and sale of stock to employes and determine not to sell such stock without first offering it to existing stockholders, then such condemnation proceeding shall be, upon application of either party, dismissed, and all court costs be paid by the railroad company.
190.12 History
History: 1993 a. 482.
190.13
190.13
Report to stockholders. Every railroad corporation shall make an annual report to its stockholders of its operations for the preceding calendar year, or for its fiscal year, as the case may be, which report shall contain a balance sheet showing its assets and liabilities, its capital stock, and funded debt, and an income account showing its operating revenues, operating expenses, gross and net income, as the result of its traffic or business operations, and such other information in respect of its affairs as the board of directors shall deem advisable. A copy of each such report shall be kept on file in its principal office in this state, shall be mailed to each stockholder whose post-office address is known and shall be filed with the office of the commissioner of railroads.
190.14
190.14
Inspection of books. The official custodian of the books, records and papers or other property of every railroad corporation shall keep the same in his or her possession and at all times during business hours have the same ready to be exhibited to any officer, director or any committee appointed by the stockholders, representing one-tenth of all the subscribed stock, on request, and furnish them or either of them transcripts from the records or proceedings of the board of directors, under the custodian's official hand and seal, on the payment to the custodian of the same fee as that required by law to be paid to the register of deeds for transcripts. The official custodian shall on vacating the office of official custodian make over all such books, records, papers and property of the railroad corporation in the custodian's possession to the custodian's successor in office, and where no successor has been elected to the board of directors, or to the person appointed therefor by the stockholders.
190.14 History
History: 1993 a. 482.
190.15
190.15
Right-of-way through public lands. The commissioners of public lands may sell and convey to any railroad corporation for such compensation and upon such terms as they may fix, a strip of land one hundred feet wide, or more, if needed, through lands owned by the state which the commissioners have power to sell, and across which a railroad has been or shall be located or constructed, but such corporation shall, as soon as the route of its road shall be definitely fixed, deposit in the office of the commissioners of public lands, a plat exhibiting all such lands and the location of such route through the same and shall have no right to take or use any such lands prior to depositing such plat. Every deed or patent for any such lands shall contain an express reservation unto the state of the title of such lands except as to the use of the same by such corporation or its successors or assigns for railroad purposes.
190.15 History
History: 1993 a. 490.
190.16
190.16
Industrial spur tracks. 190.16(1)
(1)
At corporation expense. Any railway company may build, maintain and operate spur tracks from its road to and upon the grounds of any industry or enterprise, with all sidetracks, wyes, turnouts and connections necessary or convenient to the use of the same; and any such company may acquire in the manner provided for the acquisition of real estate, other than for its main track, all necessary roadways and rights-of-way for such spur tracks and for wyes, turnouts and connections.
Section 190.051 shall not apply if the spur tracks mentioned in this subsection shall not exceed 5 miles in length.
190.16(2)
(2) Municipal consent. No such spur tracks shall be constructed across, or upon any street, road or alley, within any city, village or town, until application therefor shall have been made to and acted upon by such city, village or town. The city may prescribe any reasonable terms and conditions for the construction of any such spur track.
190.16(3)
(3) Private construction. The owner of any elevator, warehouse, manufacturing plant or mill, or of any lumber, coal or wood yard located within one-half mile of any railroad or any sidetrack thereof may at the owner's own expense construct a spur track therefrom to a point on the right-of-way within the terminal or yard limits of such railroad and the railroad shall connect the same with its tracks within such terminal or yard limits. Such spur track shall at all times be under the control and management of and be kept in repair and operated by such railroad, but the cost of maintaining and operating shall be paid monthly by the owner thereof, and in case of neglect to pay the same upon demand, the obligation of this subsection upon any such railroad shall cease until such charges are paid.
190.16(4)(a)(a) Every railroad shall acquire the necessary right-of-way for and shall construct, connect, maintain and operate a reasonably adequate spur track whenever such spur track does not necessarily exceed 3 miles in length, is practically indispensable to the successful operation of any existing or proposed industry or enterprise, and its construction and operation is not unusually dangerous, and is not unreasonably harmful to public interest, and any person aggrieved by the failure of any railroad to fully perform such obligation may prosecute proceedings before the office to compel compliance therewith.
190.16(4)(b)
(b) Such railroad may require the person primarily to be served thereby to pay the legitimate cost and expense of acquiring the necessary right-of-way for such spur track, and of constructing the same, the cost to be estimated in separate items by the office, and deposited with the railroad, before it shall be required to incur any expense whatever therefor; but such person, in lieu of depositing the total estimated cost may offer in writing to construct such spur track, the offer to be accompanied by a surety company bond, running to such railroad, and conditioned upon the construction of such spur track in a good and workmanlike manner, according to the plans and specifications of such railroad, approved by the office, and deposit with such railroad the estimated cost of the necessary right-of-way. Provided that before the railroad shall be required to incur any expense whatever in the construction of such spur track, the person primarily to be served thereby shall give the railroad a bond to be approved by the office as to form, amount and surety, securing the railroad against loss on account of any expense incurred beyond the estimated cost.
190.16(4)(c)
(c) Whenever a spur track is so constructed at the expense of the owner of any industry or enterprise, and any other person shall desire a connection with such spur track, application therefor shall be made to the office, and such other person shall be required to pay to such owner an equitable proportion of the cost thereof, to be determined by the office.
190.16(5)
(5) Removal, when. Except where a spur track was constructed prior to June 16, 1925, at the expense of the railroad company, no spur track shall be removed, dismantled or otherwise rendered unfit for service except upon order of the office made after hearing held upon notice to all parties interested, and for good cause shown; provided that if no objection has been filed with the office within 20 days from the original publication of such notice, the office may without hearing authorize such spur track removed, dismantled or otherwise rendered unfit for service.
