No. 151. AN ACT to incorporate the Washtenaw Woolen Manufacturing Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That George D. Hill, Fitch Hill, Luther Boyden, Elnathan Botsford, John Lowry, William S. Maynard and Orrin White, and their successors and associates, are hereby created a body corporate by the name of the Washtenaw Woolen Manufacturing Company, for the term of thirty years from the passage of this act, for the purpose of manufacturing woolen and woolen and cotton cloths in the township of Ann Arbor, and county of Washtenaw, capable of executing all the powers, entitled to all the privileges, subject to all the duties and liabilities specified in the statute, prescribing the general provisions for corporations, except so far as the same may be modified and controlled by the terms of this act. Incorporat'n Sec. 2. The capital stock of said corporation shall not exceed the Capital limi sum of one hundred thousand dollars, a part whereof not exceeding ted. forty thousand dollars may be invested in real estate, which said corporation is hereby authorized to hold. Sec. 3. Said corporation shall have a treasurer and such other offi cers and agents as the members of the corporation may determine, to be appointed in such manner and for such terms as the by-laws of said corporation may prescribe. The treasurer shall be sworn to the faithful discharge of his duties as the same may be prescribed in said bylaws, and shall give bond in such a sum and with such sureties as the said by-laws may prescribe, for the faithful discharge of his duty. Officers. Capital fixed Sec. 4. The amount of the capital stock shall be fixed and limited by the corporation in the manner prescribed by the by-laws, not ex- by company. ceeding one hundred thousand dollars, and shall be divided into shares, and a record thereof be made by the treasurer; said shares shall be numbered in progressive order, beginning at number one; and every stockholder shall have a certificate under the seal of the corporation, and signed by the treasurer, certifying his property in such share as shall be expressed in the certificate: Provided, That the real estate which this company may hold shall be only such as shall be necessary for the corporate uses of said company. Sec. 5. Any shares may be transferred by the proprietor thereof, Transfer of by a deed under his hand and seal, acknowledged by any officer duly shares. Assessment on shares. Indebtedn❜ss limited. authorized by law to take acknowledgments of deeds, and recorded by the treasurer of the corporation in a book to be kept for that purpose, and the purchaser named in such deed so recorded shall, on producing the same to the treasurer, and delivering to him the former certificate, be entitled to a new certificate, and from the entry of such transfer the new stockholder shall be under all the liabilities of the original stockholder. Sec. 6. Said corporation may, from time to time, at any regular meeting called for that purpose, assess upon each share such sums of money as, the corporation shall think proper, not exceeding in the whole the amount at which such share shall be originally limited, and such sums so assessed shall be paid to the treasurer at such times and by such instalments as the corporation shall direct. Sec. 7. The whole amount of debts which said corporation shall at of company any time owe, shall not exceed the amount of its capital stock actually paid in; and said corporation shall annually give notice in some newspaper printed in the village of Ann Arbor, of the amount of all the assessments laid by said corporation and actually paid in, and the amount of all existing debts, which notice shall be signed by the trea Liabilities of surer. Sec. 8. All the members of this corporation or manufacturing comstockholders pany shall be jointly and severally liable for all debts and contracts made by said company for services rendered to said company: Provided, That the joint property shall be first exhausted before the pri vate property of any member of said company shall be taken. Aunual re port. Sec. 9. The company shall annually on or before the first Monday in January, make a report to the Secretary of State of the amount of the capital stock of said company, the amount paid in, the amount of all loans for the use of said company, and the amount of dividend upon the capital stock of said company. Sec. 10. This act shall take effect and be in force from and after its passage. Approved March 30, 1848. No. 152. AN ACT to amend an act to incorporate the Pontiac and Genesee Act amend Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That section two of an act entitled ed. "an act to incorporate the Pontiac and Genesee Rail Road Company," approved May fifteenth, eighteen hundred and forty-six, is hereby amended by inserting after the word "million," in the third line of the printed act, the words "and five hundred thousand.” Sec. 2. That section four of said act be amended by striking out the word "three," in the first line, and inserting the word "five;" also by striking out the word "ten," in the third line, and inserting the word "fifteen." Ibid. Sec. 3. That section seven be amended by adding thereto the fol- Annual meelowing words at the end of the section: "In case any annual meet. ting. ing of the stockholders of said company shall not be or shall not have been holden, the charter of said company shall not thereby be forfeited, but the president and directors shall hold their offices until some succeeding annual meeting; and it shall be competent to hold a subsequent annual or special meeting to elect a president and directors of said company." Sec. 4. That section eleven of said act be amended by inserting after the words "any part of it," in the sixth line of said section, the words "and for the purpose of cuttings, embankments and excavations, and for the obtaining of stone, sand, gravel and timber;" and also after the words "enter upon," in the said line, by striking out all the remaining part of the section and inserting the words "may take and appropriate as much more land as may be necessary for the proper construction and security of said road, and for constructing shops, depots and other proper, suitable and convenient fixtures in connection with and as appurtenances to said rail road, not exceeding two hundred feet in width from said rail road, the said company taking all such lands as gifts, or purchasing or making satisfaction for the same in manner provided by this act." Sec. 5. That section twelve of said act be stricken out and the following provisions inserted instead thereof: "The said company, and under their direction, their agents, servants and workmen, are hereby Actamended Ibid. authorized and empowered to enter into and upon the lands and grounds of or belonging to the state or to any person or persons, bodies politic or corporate, and to survey and take levels of the same or any part thereof, and to set out and ascertain such parts as they shall think necessary and proper for making said rail road, with one or more sets tracks or rails, and for all the purposes connected with said rail road, for which said company by the last preceding section is authorized to take, have or appropriate any lands, and to fell and cut down all timber and other trees standing or being within one hundred feet on each side of said line of rail road, the damages occasioned by the felling of such trees, unless otherwise settled, to be assessed and paid in manner hereinafter provided for assessing and paying damages for land taken for the use of said company; and also to make, build, erect and set up in and upon the route of said rail road, or upon the lands adjoining or near the same, all such works, ways, roads and conveniences as may be requisite and convenient for the purposes of said rail road; and also from time to time to alter, repair, amend, widen or enlarge the same, or any of the conveniences above mentioned, as well for the carrying and conveying goods, commodities, timber or other things to and upon said rail road, as for carrying and conveying all manner of materials necessary for making, erecting, furnishing, altering, repairing, amending, idening or enlarging the works of, or connected with said rail road, and to contract or agree with the owner or owners thereof, for earth, timber, gravel, stone or other materials, or any articles whatsoever, which may be wanted in the construction or repair of said road, or any of its works or appurtenances; and also to make, repair, maintain and alter any fences or passages under or through the said rail road, or which shall communicate therewith, and to construct, erect and keep in repair any piers, arches or other works in and upon and across any rivers or brooks, for making, using or maintaining the said rail road and side paths, and also to construct, make and do all other matters and things which may be necessary and convenient for making, effecting and preserving, improving, completing and using the said rail road, in pursuance of and within the true intent and meaning of this act, they, the said company, doing as little damage as possible in the execution of the several powers to them hereby granted, and first making satis faction in manner hereinafter mentioned, for all damages to be sustained by the owners or occupiers of said lands, tenements and hereditaments, before appropriating the same to the construction of said road." Sec. 6. And that said act be further amended by adding after said section 12, the provisions contained in the four following sections, Nos. 7, 8, 9 and 10. Sec. 7. The said company shall have power and authority to receive, take and hold all such voluntary grants and donations of land and real estate for the purposes of said rail road, as may or shall be made to said company, to aid in the construction, maintenance and accommodation of said rail road, and said company may contract and agree with the owners or occupiers of any lands upon which the said company may wish to construct the said rail road or way, or which said company may wish to use or occnpy for the purpose of excavation, or of procuring stone, sand, gravel, earth or other materials, to be used in embankments or otherwise, in or about the construction, repair or enjoyment of said rail road, which the company may wish to use or occupy in any manner, or for any purpose or purposes connected with said rail read, for which the said company is authorized or empowered by this act to take, have or appropriate any lands, and to receive and take grants and conveyances of all or any such lands, and of any or all interests or estates therein, to them and their assigns, in fee or otherwise, and in case said company cannot agree with the owners or occupiers of such lands as aforesaid, so as to procure the same by voluntary deed or act of such owner or occupier thereof; or if the owners or occupiers or either or any of them, be a feme covert, under age, non compos mentis, unknown or out of the county in which the land or property wanted may lie or be situate, application may be made to the circuit court commissioner, county judge or judge of probate of such county in which the lands are situate, or a judge of the supreme court, for an assessment and inquisition as hereinafter provided. Sec. 8. Previous notice of such application shall be given to the owner or occupier of the land to be taken, either by personal service of such notice three days before making such application, or by public advertisement for three weeks previous to such application, in some newspaper published in the same county, if there be one, and if there Ibid. New section. Ibid. |