No railroad company, whose railroad may be built in this state, has the right to hold, to the exclusion of other railroads to be built, by purchase or condemnation for its right-of-way, a wider strip of land than shall be necessary for its reasonable use in the transaction of its business; and any land owned, or right-of-way held, or acquired, by any such railroad company, which a jury of inquiry in condemnation proceedings shall find necessary for such reasonable use and business of the company, may be condemned for the use of other railroads thereafter to be built, in like manner as other private property.
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