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of actions, and may have a common seal and may make and alter
Capital and dred thousand dollars, to be divided into shares of twenty-five dol. lars each, which amount of capital the directors of the said company may increase or diminish by complying with the provisions of the tweltih section of this act: Provided, Such capital stock shall not at any time exceed two hundred thousand dollars.
Sec. 4. The said company may commence and carry on its busi- Powers of ness so soon as the capital stock shall have been subscribed and a sufficient amount thereof paid in; and may purchase and hold such real estate as may be necessary to carry on its business; and may use the mechanical apparatus, machinery and moving power owned by it for mining purposes in any other useful employment. And may subscribe for and purchase and hold stock in any such of the incorporated railroad and plank road companies in this state as may be used by it for the transportation of its coal and its other materials.
Sec. 5. Books of subscription to the capital stock of this corpor- Subscrip ation shall be opened under the direction of the directors hereinbe- stock fore named, and be subject to such rules and regulations as they shall prescribe, first giving notice thereof by publishing the same in one of the daily newspapers of the city of Detroit, and in the state paper, for two consecutive weeks, and the stock of the said company shall be considered personal properly and shall be assignable only on the books of the company.
Sec. 6. The stuck, property and affairs of this corporation shall be managed by five directors, who shall be stockholders to an amount term or conta not less than twenty-five shares each, and the directors may bechosen annually by a plurality of votes, on the first Monday of Octo, ber; and the first election of directors shall be on the first Monday of October in the year eighteen hundred and fifty, until which time the five persons hereinbefore named shall be the directors of the said company, who, or any two of them, shall act as inspectors at the first election. At all subsequent elections, the inspectors shall be designated by the board of directors. election shall be published in one of the daily newspapers of the eily of Detroit, and in the state paper, for two successive weeks im
A notice of every
mediately preceding such election, and each stock holder shall be entitled it such election to one vote on each share of stock in the company held by him or her at least ten days previous thereto, either in person or by proxy.
Sec. 7. The directors shall elect one of their number to be president of the said company, and also the subordinate officers thereof, who shall each give such security as the company inay, by its by. laws, require for the faithful discharge of their duties in office; and the directors may make and ordain such by-laws as they may deem necessary for the due regulation of the business of the company and for accomplishing the purposes for which this charter is granted, provided the same are not inconsistent with the laws of this slate.
Sec. 8. It shall be lawsul for the directors to call in and demand Asse esm'n is un shares from the stock holders respectively, all such sums of money by them
subscribed, at such times and in such payments or instalments as the directors shall deem proper, under the penalty of forfeiting the shares of stock subscribed for, and all previous payments made thereon, if payment shall not be made within thirty days after a personal demand or publication of notice requiring such payment shall have been made in one of the daily newspapers of the city of Detroil, for three successive weeks.
Sec. 9. All the stockholders of this company shall be jointly and Lindility of stockhold'rs
severally liable for all debis and contracts of this coinpany.
Sec. 10. Any person or persons wilfully injuring or causing to Trespasses on coinpany be injured any property of this company, shall forseit and pay to the
said company the amount of the damage sustained by any such injury, to be recovered with costs in any court having cognizance thereof.
Sec. 11. Any inhabitant of this state shall have a lien upon the thibitinues of stock, appurtenances and entire property of the said company, for a how entor- claims and demands not exceeding one hundred dollars against ide
said company, originally contracted or incurred within this state, which shall take precedence of all other claims or demands, judgmen's or decrees, liens or mortgages against such company: Provided, That such claim, with specifications, shall be filed with any justice of the peace near to any of the coal mines of said company; and a notice thereof, with the specifications of the claim, be personally served upon the manager or reputed manager of said company,
Lien of in
at either of its coal mines, with summons to answer in not less than twenty duys after the service thereof; and a duplicate of said spec. ifications shall be mailed, on the day of so filing the same by the said justice of the peace, to the president of the said company at the city of Detroit; and to render such claim actionable or valid, these steps shall be taken within six months of the date of the claim. Sec, 12. Whenever the said company shall desire to increase diminution
of capital. or diminish the amount of its capital, it shall be the duty of the directors to call a ineeting of the shareholders at some convenient place in the city of Detroit, by publishing a notice in one of the daily newspapers of the city of Detroit, and in the state paper for at least six consecutive weeks, and by depositing a printed copy ihereor in the post office of the city of Detroit, addressed to each share holder at his or her usual place of residence, or deliver the same personally, at least six weeks previous to the day appointed for such meeting, and which notice shall specify the time and place when and where the said meeting is to be held, the object of the meet. ing, and the amount to which it is proposed to increase or diminish the capital of the company. A vote of at least two-thirds of all the shares, in person or by proxy, shall be neces
cessary to increase or diminish its capital, but before any diminution of the capital shall take effect, the said company shall file in the office of secreiary of stale, a certificate verified by the oaths of a majority of the directors of the company, that the amount of the debts and liabilities of the company do not exceed the amount of the capital to which it is 30 proposed to be reduced.
Sec. 13. This act siall take effect, nnd be, and remain in force Duration ? for the term of thirty years from and after its pussage; the legislature may at any time alter, amend or repeal this act, by a vole of two-thirds of each branch thereof, for any violation of this charter.
Sec. 14. This act shall not authorize said company to engage in Restriction, banking, brokerage or any other business except such as named in ing, &c. said act.
Approved March 28, 1849.
Truty of clerk and
[ No. 151. ) AN ACT to authorize the perfecting of the records of public
highways, and for other purposes. Section 1. Be it enacted by the Senate and House of RepresenBighway records to be
tatives of the State of Michigan, That the clerk of any township where the records of highways, filed and recorded prior to the first day of January, eighteen hundred and forty seven, may be found defective, may and he is hereby authorized to transcribe the legal survey bill of every such road, having thereon the signature of the surveyor who made the survey and the names of the highway commissioners of the township for the time being or a majority of them.
Sec. 2. The clerk in transcribing, where characters, initials, signs maty of ederketans and figures are used in the survey bills herein required 10 be trancribing.
scribed, shall write the same in words at full lengib, but the names of the highway commissioners, where there is no order establishing che survey is a public highway shall be omitted.
Sec. 3. Where the clerk of any township shall have transcribed highway ihe survey bills of his township, according to the provisions of ihe
preceding sections of this act, it shall be his duty to give notice thereof to the commissioners of highways of his township, and it shall be the duty of the said commissioners or a majority of them within ten days afier the receipt of such norice, to meet at the of fice of such township clerk.
Sec. 4. When so met, it shall be the duty of said commissioners, and they are hereby authorized to aflix their order and determination, establishing as public highways so many roads as there are survey bills transcribed according to the provisions of this act, or su many thereof as in their opinion, the public interest may requ re: Provilcil, That nothing herein shall be construed as authorizing the commissioners of highways to establish by their order, or in any manner 10 afiret the record of any road, except such as was surveyed, opened and traveled as late as January first, eighteea hundred and forty-nine.
Scc. 5. The said commisioners, after having made their order missioners upon the corrected copies of the survey bills, as prescribed in the
last preceding section of this act, shall deliver the same to the towa ship clerk, whose duly it shall be to cause the same to be filed and
stablish & determine cuado.
Determina tion of com
to be ricor
recorded as provided in chapter twenty-five, section one, of the revised statutes of eighteen hundred and forty-six.
Sec. 6. The corrected copy of the survey bill of any township Corrected road filed and recorded in pursuance of the provisoins of the last preceding section, shall be denominated the corrected record of highways of said township, and as such, shall be deemed of the same force and effect that they would have had in law had they been made perfect at the time the surveys were taken.
Sec. 7. This act shall be in force from and after its passage.
[ No. 152. ) AN ACT in authorize Asquire W. Aldrich to build a dam across
the Clinton river, in the county of Macomb. Section 1. Be it enacted by the Senate and House of Represen. Dam autbo! balives of the State of Michigan, That Asquire W. Aldrich, his heirs and assigns, be, and they are hereby authorized and empow. ered to build a dam across the Clinton river, in the county of Macomb, upon section ten, in the township of Sterling in said county, upon which the saw-mill of said Aldrich is now erected. Sec. 2. Said dam shall not exceed seven feet in heighth above Height and
description low water mark, and shall have a convenient sluice or apron, of of the sains. sufficient width and aimensions, 10 admit the safe passage of rasts down said river, which said sluice or apron shall be kept in good repair by the persons or individuals using said dam.
Sec. 3. Nothing in this act shall authorize the person or persons Bighox reabove named, or his heirs or assigns, to enter upon or flow the lands of any other person or persons: Provided further, That the occupant of said dam shall so construct, therein or thereat, a convenient Jock for the sale passage of boats, rafts, canoes or other water craft, whenever the circuit court of said county shall order, upon good cause shown, and it shall be the duty of the owners of said dam, at all times to keep said lock in repair, and pass any water crast through the said lock free of toll and without unnecessary delay; and any person who shall be so detained shall be entitled to recover of the said owners the lamages which he shall prove he has sug.