The Lancaster gazette. (Lancaster, Ohio) 1846-1852, 1851-03-06

tue nenHlty Ofiorieilmg me snares OF stneR SUI"
scribed foe, and all previous payments made mere
on, if payment shall not be made by the stoekh"l
lers within sixty days alter II personal dempnd' o.
notice requiring such payment shall have been
Published for ak successive weeks IN any news
.,aper IN the plnce where the business OF the com
pauy shall be carried on, as aforesaid.
SEc. 2. The directors OF such company Shall
have power III make such prudential by laws as
they shall deem proper for tue management mai
disposition of the stock and business attairs OF such
Company. not Inconsistent with laws ofthis State.
and prescribing the duties ufuficers. ~artiicers and
servants that may be employed, for the appoint
nlent oil all officers and for carrying ON the bust
mesa aforesaid
SIC g The stock Of such company shall br
deemed personal estate, and shall he transferable
IN such IA manner as shall be prescribed by the b..
laws OF the company. !
SEC. O.. A copy Of any certificate Of inc1fpnra-
ton. iled in pursuance nf1bis act. certified by The
County Recorder OF his deputy To be a true copy,
ami VI the whole Of such certificate. shall he re-
ceivrd in nlt courts and places. as presumPliSe le-
gu evidence Of the incorporation OF such Company
! ! the same shall comply with the provisions Of
this uct.
SEC. 10. All the stockholders Incorporated un
der this act shall be severaiIy individually liable to
the creditors Of the company in which they are
stockholders, in proportion 10 the amount al stuck
held by them respectively, for all debts aud cui
tracts made by such company. until the wiiule II
mount of capital stock liked and limited hy such
lcompuuy shall have been paid in. aud acerlltieale
| thereof shall have been made aud recorded us pre-
scribed IN the following s%ectiOus, and the capital
stock 50 fixed and limited shall all he paid III, one
half thereof within one year, and the other half
within two years from the incorporation OF said
company; or such corpuratiOn shall he dissulyed
Aur Thu nra.ilsuf and "a mninIiiu sI tla
directors. within 80 days after the pay ment Of the
last in>tulmeul Of the capital stock So fixed aud
limited by the company. shall make a certificate.
stating the amount Of the capital so fixed aud pad
in, which certificate shall be signed and swarm 10
by the president nd n majority OF the directors;
and they shall. within the said 80 days, Tile the
sumo in tile office Of lhe Recorder of the comfy
wherein the business Of THE said company is carrie
ed Ou. %
Sac. II Every such company shall make a re
port annually, within twenty days from the iirSl
day ofJanuary, which shall be published in some
newspaper published in tile city, village ur tuwD
where the business ofsaid company is carried np.
of the amount ofcapilal. and the proportion actl
ally paid in aud The amount of its existing debts
which report shall be signed by the president alnI
a mujurity Uf the directors, and verified 10y The
luatI of the president aud secretary oi the Coinpa
n.y. aud II any of said company shall fail ~ Ia ia,
all the directors of the company failing So tn do
shall be jninlly and severally liable Tor all the debt,
al the company then existing, aud for all tlui shal
be contracted before such report shall be made,
SEC. 10 II the directors Of any such COMPANY
shall declare aud Jay any dividend when the CON
pany is insvlvent, or any dividend the pay meut q
which would reuder il i~nsnIveut. or which wnuk
reduce the amount urtheir capital, they shall Joint
) y aud Severaliy he liable for all the debts ~ th
comp ny then existing. aud for all that shhl III
hereafter contracted 80 long ms they shall rrsl,cC
! lively continue in Office, Provided. that N IN,
OF the directors sbai, at any time be ore Tue I'm
fixed for The payment ri such dividends, nhirc
, thereto, and shall wiriiu thirty days thereafter III
= u certificate OIllIeir objection, in writing, with IA
; secretary Of the company, aud with tie reporde
Of the county. they shall be exempt IRON tic sal
liability.
!. Sc. II Ifany certificate. report made ur puI
lie notice given, by the officers of any such con
pany III pursuance Of the provisions of Tins at
shall be false in any wteIinl leprese lali"u; u
tue officers who shall hive signed the same, .kn"v
Ing II 10 he false. shall be- Unity and seyeraIly
able iur all tue debts OF the c0mVany C%OIiracle
while they are stockholders or officers thereof
SIC II The Stockholders ri any company Il
-, gunized under the provisions Of this act slnli /
a. jointly aud Severrily aud Individually liable for IL
debts that mny be due and owing tor all debts du
II services performed for snoh corporation
5 c Ii. M stakeholder shall b. personal y
he able Ior the payment oIany debt contracted |
- any company formed under Ibis act wlIiel, is II
N. paid within one year from the time the debt
ia, contracted. unless Il suit Tor the collection IT ~
i, debt shall be brought ng inst such company wit
b, N uIie year utter the debt shall become iur: ~
IN ~ sui slUll he brought against any s%t0uhlinlt
ho who shall Cease to he u stakeholder IN my sl
,l cnmGany, for amy debt So Contracted, unl,Ss .
M same shall be GUmmrnced within . yenrs irnml
hue ne shall have ceased Ia be u stock ho,ic
such cOinpuny, nor until an xeculOn against I
company shall have been returned unsnli, led
The whole or IN part
Sac II. Any corporation formed under this
shall have lull power Ia manufacture aud seh u
u lanisli suuli Quantities Of gas as may be req
oil in the city, town ur village where The snI
,Li may he located, Tor lighting the streets. aud pub
? mud private buildings, ar fpH other purposr,; Il
h. such corporation shall hive puwer IL iuy cuil
tOrs Tor conducting gus through tho streets ain
far alleys anu squares, N such city, town ~ ,tl u
mn. Nih the consent al the municipal authorize,
tis said city, town or village aud under such lcis,
ble regulations as they Inay prescribe; aud MI
ma. municipal authorities shall have puwer Ia cx ~
nj any corporation formed under the provision,
Nh, his net, from t~axnti0n On their personal proper
lOro i,J ar county purposes, Tor a period nnt
irs creding three years from the organization ui =
N. corporation
Mi SIC 10, Any person willully %injuring, or co
INV ing To be injured, my property Of any corpuIul
!, al created under this net. shall forfeit aud pay Ia
IN said corporation treble the nmuuni oi damn
i,L sustained by such Injury, t. be recovered la
court having cognizance thereof.
am. SIC 10. Any COMPANY which NAV he mru
NJ. under this uct, may increase or diminish its cup
me. stuck, 10y comply ing with the provisions ul
N act, 10 amy amount which may be deemed su
cient and proper iur the purpose OF the cOrp0rali
But before any corporation shall be entitled Ia
rss minish the amount at it, capital stock, II th,
muult Of debts aud liabilities shall exceed III
IN mount ~ofcupitul To which il is proposed l., no
haIl duced, such amount OF debts and liabilities 81
+ nT be- satisfied aud reduced 81 asnnt To exceed -
0ur. diminished amount of capital; aud auy exist
AXE company heretofore t'rnleu nnue' guy sPec'3'
Inv may come under aud avull itself of tue privila
nur aud provisions Ut this uct, by complying wi h
mar. following provisions and lhereupOn such com
. 4, ny, lis officers aud stOckhuldsus, shall be sui.
ions To all the restrictions, duties und liabilities Ul
act.
SEC 90. Whenever any company shall dc
y If To call II meeting of tue Stockholders, for the
Inn pose Of ayailing itself OF the privileges aud pro-
re ions OF this not, Or lOr increasing Or dlmlnisi
and she a'no"h' o. us cap'ta' stn'k' OF "r eNeo'
nI its business, il shall be the duty Of the director
publish u notice. signed by at least a majority
the them, IN a newspaper in the county, II any \
he be published therein, at leust six successive we,
aud 10 deposit a writIeH az printed copy thereb
ia -. the Post Office addressed To each stakeholder
his usual place of residence, ut least faur we
the previous Ia the day fixed upon for holding 81
,aay meetings specifying the Oh ect OF the meeting,
Time and place, when und where such meet
,hui shall he held, uud the amount Ia which II Sh i