The Cadiz sentinel. [volume] (Cadiz, Ohio) 184?-1851, 1851-03-26

lillCate shall be sigueu ana sworn 20 DJ Inc
President and maiprly Of The directors, and
they shall, within the said thirty days. iile
the same in the Office OF the Recorder cl the
county wherein the business Of the said
company is carried on.
Sec. - Every such company shall make
a report annually, within twenty days ifom
the first day Of January, which shall he pub
lIshed in SONG newspaper published N the
city, village OF town where the business ol
said company is cnuled on, Of the amount Ct
capital, and the PROPORTION actually paid IN,
and tue amount Oi its existing debts, which
report shall be signed by the presiden; and
msjoTiiy Of The directors, aud verified 10y the
loalII Of the Presid mt and secretary OF the
company, and IL any Of said company shall
ifail so To do, al The direcloLsleffIhe compan,
failing so to do, shall be jointly and sever
allv liable for ali The debts Of the company
then exist ng, aud for all that shall 10 con.
tracted before such report shall be made.
Sec. l3 IL the directors Of any such
company shall declare and pay any dividend
when The company Is insolyenI, or any dyi-
dend the payment of whc h would render il
f rIinsulyeni, OF which woul reduce the amount
'iof their capital, they shall jointly and sever
lally be liable for all the debls of the comps-
ny then existing, and for all that shall be
thereafter contracted SO long as they shah
flrespeclvely + continue in office, Provided
That MI any Of the directors shall, at any
time before the time fixed for the payment
of such dividends, object thereto, and shall
! within thirty days tbciealter, file certificate
of their objection, in writing, with The secre-
Itary Of the company, and with the recorder
of the county, they shall be exempt from the
said liability.
( Sec, IA. IF any certificate, report mace
| or public notice gwen, by The ofncers Of any
S such company, in pursuance N( the provi-
, slons of this act, shall be false in any mate
0 rial representation, all the ofhcers who sln
! have signed The same, knowing II to be false
shall be jointly and severaIy Fable for al
g the debts Of the company contracted while
/ they are stockholders or officers thereof,
4 Sec. l5 The stockholders of any com
pany organized under the provisions Of thi
. aci, shall be jointly, severaIly and irdividu'
} ally liable for all debts that may be due aut
: owing for all debts and services performed
r for such corporation.
Soc. Is. No slockholder shall be person
' IaIly liable for tie payment Of any debt con
j iructed by any company formed under ihi'
, act, which is not paid within Que year flom
: The Time the debt is contracted, unless sui
: for the collection Of such debt shall be bro
e against such company within one year alleI
: the debt shlll hecume dus; and no suit sha
be brough, against any slockholder who shal
cease TO be IA sockholder in any such com
: pany, for any deht 50 contracted, unless iht
d same shall be commenced within two year.
e frome the time be shall have ceased to be 4
stockhoider in such company, nor until al
e execution against the company shall have
4 been returned unsatis6ed in whole or in part
: Sec. II. ANY corporation formed unde
y this act shall have full power 10 manufacture
s and sell, and to furnish snch quantities o
: gas as may oe required in the city, town o
d vilIage where the same may be located, 10
!. lighting the streets, and public and private
}. buildings or for other purposes; and sacl
e corporation shall have power TO lay conduc,
e tors for conducting gas through the streets
Y lands, alleys, and squares, in such city, towI
II or village, with the consent Of the municipa
authorities Of SAID city, town or village, ant
h under such reasonable regulations as the.
y may prescribe; and such municipal authorI
n lies shall have power 10 exempt any corpora
o liun formed under The provisions of this act
: from taxation on their personal property, ia
l. city or county purposes. for period not eX
II ceedng three years from The organization o
sr said c0rp0ratlGa.
y Sec. 19 Anv person wl(nlly injuriug,o q
Y. causing 10 be Injured, any property Of an.
Y corporation created under this act, shall for
,e felt and pay to the said corporation treble tb
,s amount ui damages sustained by spch njur,
N to be recovered in any court having Gognz
Dt ance thereof
y Sec. 10. Any company which may b
5, formed under this act, may increase or dl
e minish its capital stock, by complying wi
II the provisions OF this act, 10 any amour
l. which may be deemed sufficient and piope
for the purposes OF the corporation. BIZ
e before any corporation shall be entitled
10 diminish The amount Of lis capital STOCK, if III
}, amount Of debts and liabilities shall excee
v the amount of capital 10 which ii is propose
or to be reduced, such amount Of debts an
i. liabilities shall be satisfied and reduced SO
es not to exceed such diminished amount
VS. capital, and any existing company heretofol
formed under any special act may CON
rs under and avail itself of the privileges al
rs, provisions of this ac', by complying with It
oy following provisions, and lhereupon SUE
in company, lis officers and stockholders, sh'
c. lac subject 10 all The restrictions, duties al
Of liabilities Of this act.
,r. Sec. 20. Whenever any company sha
if desire 10 call meeting Of the stockholder
D. for the purpose Of ayaling itself Of the pri'
Ie, leges and provisions of this act, or for il
nj creasing Or diminishing the amount Of
We capital stock, or for extending its business,
re shall be the duty Of the directors TO publish
ed notice, signed by at least majonty ofthet
in a newspaper III the county, if any shi
nv be published therein, nj least six suacessi'
by weeks, and TO deposit written or prln;t
m. copy thereof in the Post Office addressed
nd each stockhoder al his usual place of res
b- day fixed upon for holding such meeting
r. specifying The object of the meeting, Il
o. time and place, when and where such NEE
on ing shall be held, and the amount TO which
: shall be proposed to increase or diminish Il
all capital, and The business Of such company
be extended, and cote Of at least Two thit
e. Of all the shares of stock shall be necessa
to an increase or timinulion Of its capt
n. stock, or the extension Of lis business
ct, aforesaid, or 10 enable a company to av'
p- itself Of The. provisions Of this net.
oil Sec. 2l. III at nDY lime and place spec