roads, approved March thirteenth, eighteen hundred and forty-eight, Sec. 5. This act shall take effect from and after its passage. Incorpora Route of road. Capital and sharca thereof. Duration of charter-its repeal, &c. [ No. 120. ] AN ACT to incorporate the Decatur, Lawrence and Breedsville Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That Aaron W. Broughton, Marvin Hernnals, William B. Sherwood, Henry Coleman, Jonathan N. Hinkly, Milo J. Goss, Benjamin F. Chadwick, Horatio N. Phelps, Israel Kellogg and John Andrews, of the county of Van Buren, be and they are hereby appointed commissioners, under the direction of a majority of whom subscriptions may be received to the capital stock of the Decatur, Lawrence and Breedsville plank road company, and the subscribers thereto, with such other persons as shall associate with them for that purpose, their successors and assigns, shall be and they are hereby created a body corporate and politic by the name and style of the Decatur, Lawrence and Breedsville plank road company, with corporate succession. Sec. 2. Said company hereby created shall have the power to lay out, establish and construct a plank road, and all necessary buildings, from the village of Decatur, on the most eligible route to the village of Lawrence, thence upon the most eligible route to the village of Breedsville, in the county of Van Buren. Sec. 3. The capital stock of said company shall be forty thousand dollars in one thousand shares of forty dollars each. Sec. 4. This act shall be and remain in force for the term ot amendment, sixty years from and after its passage, but the legislature may, at any time, alter, amend or repeal this act by a vote of two-thirds of each branch thereof; but such alteration, amendment or repeal shall not be made within thirty years from the passage of this act, unless it shall be made to appear to the legislature that there has ⚫ been a violation by the company of some of the provisions of this act: Provided, That after said thirty years, no alteration or reduction of the tolls of said company shall be made during its existence, unless the yearly net profits of said company, over and above all expenses, shall exceed ten per cent, on the capital stock invested, provided there be no violation of the charter of said com pany. visions. Sec. 5. Said company shall be subject to all the provisions of an General proact entitled "an act relative to plank roads," approved March thirteenth, eighteen hundred and forty-eight. Sec. 6. This act shall take effect from and after its passage. [ No. 121. ] AN ACT to incorporate the Tecumseh and Dundee plank road company. tion. Section 1. Be it enacted by the Senate and House of Represen- Incorporatatives of the State of Michigan, That William H. Zabriski, Charles T. Cady and Abijah Russel, be, and they are hereby appointed commissioners, under the direction of a majority of whom subscriptions may be received to the capital stock of the Tecumseh and Dundee plank road company, and the subscribers thereto, with such other persons as shall associate with them for that purpose, their successors and assigns, shall be, and they are hereby created a body politic and corporate by the name and style of the Tecumseh and Dundee plank road company, with corporate succession. road. Sec. 2. Said company hereby created, shall have the power to Route of lay out, establish and construct a plank road, and all necessary buildings, from any point in the village of Tecumseh, in the county of Lenawee, on the most eligible route to any point in the village of Dundee, in the county of Monroe. Sec. 3. The capital stock of said company shall be thirty thou- Capital. sand dollars, in twelve hundred shares of twenty-five dollars each. charter-its repeal, &. Sec. 4. This act shall be, and remain in force for the term of six- Duration of ty years from and after its passage, but the legislature may, at amendment, any time, alter, amend or repeal this act by a vote of two-thirds of each branch thereof; but such alteration, amendment, or repeal shall not be made within thirty years of the passage of this act. anless it shall be made to appear to the legislature that there has been a violation by the company of some of the provisions of this act: Provided, That after said thirty years no alteration or reduc. sion of the tolls of said company shall be made during its existence, General provisions. unless the yearly net profit of sail company over and above all expenses, shall exceed ten per cent. on the capital stock invested, provided there be no violation of the charter of said company. Sec. 5. The provisions of an act entitled an act relative to plank roads, approved March thirteenth, eighteen hundred and forty-eight, shall be, and are made part of this act. Sec. 6. This act shall take effect and be in force from and after Special elec Judge for Ingham Co. AN ACT to provide for the election of County Judge for Ingham County. Section. 1. Be it enacted by the Senate and House of Represention for Co. tatives of the State of Michigan, That it shall be lawful for the electors of the county of Ingham, in this state, to hold a special election therein on the first Monday of April, A. D. 1849, for the purpose of filing the vacancy now existing in the office of county judge of the county court of such county. The county clerk of said county shall give at least three days notice of such election, before the first Monday of April aforesaid, to the township clerks of the several townships of said county. Return and votes. Sec. 2. The votes cast at such election shall be canvassed, the canvass of result certified and determined in the manner, and under the restrictions and regulations provided by existing laws, for holding special elections. Sec. 3. This act shall take effect and be in force from and after its passage. Approved March 22, 1849. [No. 123. ] Incorporasion. AN ACT to incorporate the Pontiac and Waterford Plank Road Company. Section 1. Be it enacted by the Senate and House of Represen tatives of the State of Michigan, That Benjamin Phelps, W. M. MeConnell, Ephriam S. Williams, Joshua Terry and Alfred J. Boss, be and they are hereby appointed commissioners, under the direction of a majority of whom subscriptions may be received to the capital stock of the Pontiac and Waterford plank road company, and the subscribers thereto, with such other persons as they shall associate with them for that purpose, their successors and assigns, shall be and they are hereby created a body corporate and politic by the name and style of the Pontiac and Waterford plank road company, with corporate succession. road. 121 Sec. 2. Said company hereby created, shall have the power to Route of lay out, establish and construct a plank road, and all necessary buildings, from the village of Pontiac, in the county of Oakland, to Waterford, in said county. shares Sec. 3. The capital stock of said company shall be ten thousand Capital and dollars, in four hundred shares of twenty five dollars each, and cer- thereof. tificates of subscription to stock in said company shall be issued upon When tolls Sec. 4. The company hereby incorporated shall have power to levy and collect tolls as soon as three miles of the road shall have may be colbeen completed. lected. Duration of charter-its amendment Sec. 5. This act shall be and remain in force for the term of sixty years from and after its passage; but the legislature may, at any time, alter, amend or repeal this act by a vote of two-thirds of repeal, &c. each branch thereof, but such alteration, amendment or repeal, shall not be made within thirty years after the passage of this act, unless it shall be made to appear to the legislature that there has been a violation by the company of some of the provisions of this act: Provided, That after said thirty years no alteration or reduction of the tolls of said company shall be made during its existence, unless the shall yearly net profits of said company, over and above its expenses, exceed ten per cent. on the capital stock invested, provided there be no violation of the charter of said company. visions. Sec. 6. The said company shall be subject to the provisions of an General preact entitled "an act relative to plank roads," approved March thirteenth, eighteen hundred and forty-eight, except so far as otherwise provided in this act. Sec. 7. This act shall take effect and be in force from aud after its passage. Approved March 23, 1849. Artension of charter. Notes of is sue to be seeured by ledge of state stock, and within 1 year, &c. Issue & reg by state treasurer, count'rsign [No. 124. ] AN ACT to continue for a limited time the charter of the Farmers' and Mechanics' Bank of Michigan. Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That the powers, privileges and franchises heretofore granted the stockholders of the Farmers' and Mechanics' bank of Michigan, by an act approved November fifth. eighteen hundred and twenty-nine, and by an act approved March seventh, eighteen hundred and thirty-four, be and the same are hereby continued and confirmed to the stockholders thereof, for the term of twenty years beyond the time specified and limited by the acts af resaid, subject to the restrictions and limitations hereinafter contained. Sec. 2. That within the term of one year after the expiration of the present charter, all the bills or notes issued by the said bank, shall be secured by stocks of the United States, or state of New York, or of six per cent. stocks of the state of Michigan, on which interest is paid; which said stocks shall be deposited with the state treasurer, and the state treasurer, or the deputy state treasurer, under the direction of the state treasurer, is authorized and required to countersign, in a uniform manner, as nearly as possible, all the bills or notes which shall be presented to him for that purpose by said bank, which, by law, they shall be authorized to issue; and it shall be the duty of said treasurer to register all notes and bills isty of notes countersigned by him, in a book kept for that purpose; and after one year from the expiration of the present charter, the said ed by him, bank shall not pay out any of its own bills or notes not countersigned and registered as above provided. The bank shall be entitled to have thus countersigned, and delivered to them, an amount equal to the amount of the stocks thus deposited, estimated at their market value in the city of New York at the time of delivery to the state treasurer. And the said bank shall deposit with the state treasurer, fifty thousand dollars of the stocks aforesaid, within one year after the expiration of its present charter, and fifty thousand dol lars in addition thereto, within three years after the time of the ex piration, as aforesaid. And the amount of stocks so deposited shall not, at any time after the expiration of the three years, aforesaid, be less than one hundred thousand dollars. All of the bills or notes not countersigned and registered, which shall be in the possession ፈር . |