366 Meyer—Early Bailroad Legislation in Wisconsin. 
Act for the Consolidation of Rail and Plank Roads in the State 
of Wisconsin,” 1 By this law any railroads in this state, which 
have their termini fixed by law, may consolidate their property 
and stock with companies within and out of this state; but no 
consolidation with a company outside of the state (15) can be 
made with a company in the state until the termini of the lat¬ 
ter have first been fixed “ by the laws of the state at the bound¬ 
ary line thereof.” Such a consolidated company ($4) may like¬ 
wise consolidate with other lines with which its lines intersect 
or connect. This really provided for progressive consolidation. 
The consolidated company could exercise the powers of the re¬ 
spective charters on filing them with the secretary of state. In 
view of the great diversity among charter provisions it would 
have been an interesting problem to ascertain just what powers 
a consolidated company actually possessed! The consolidated 
companies were authorized to increase their stock by a vote of 
the board of directors to a sum not exceeding the combined cost 
of construction and equipment; to borrow money and fix the 
rate of interest to be paid therefor; and to issue bonds. The 
bill also provided for the consolidation of railroad and plank- 
road companies. This need not detain us, anymore than to say 
that it is only another illustration of the close connection which 
then existed in the minds of legislators between railroads, 
plankroads or turnpikes, and canals. The proceedings in con¬ 
solidating were to be governed by the by-laws of the companies, 
and a majority vote of the stockholders, either in person or by 
proxy, was required to make them valid. In this provision un¬ 
doubtedly lay the most vulnerable point of the law, and had a 
case ever arisen under it, the Supreme Court would probably 
have declared it unconstitutional. 
In 1863 it was charged that this bill had been pushed through 
the legislature near the close of the session without the knowl¬ 
edge of the public or even of a number of members. By the 
journals it appears that the bill was reported in the Assembly 
by the committee on railroads " without any recommend ” dur¬ 
ing the evening session of February 26, 1857 — eleven days be¬ 
fore adjournment of the legislature. During the afternoon ses- 
General Laics , 1857, Ch. 55. 
