69-14-902. Decision on application by railroad. It shall be the duty of any person, firm, or corporation to whom application is made for the right to erect and maintain an elevator or warehouse under the provisions of 69-14-901 through 69-14-911, within 30 days after the receipt of such application, to notify said applicant in writing of the acceptance or rejection of the amount stated in said application to be reasonable compensation for the right, privilege, and easement sought to be acquired. In case such person, firm, or corporation fails to notify the applicant within said 30 days, such person, firm, or corporation shall be deemed to have accepted said amount, and upon the payment or tender thereof, said applicant shall be deemed to have acquired the right, privilege, and easement applied for.