The Minnesota pioneer. [volume] (St. Paul, Minn. Territory) 1849-1855, 1851-06-05

The Second Session Of the Legislative Assembly Of the Territory
Of Minnesota convened, Of law Wednes
the thirty first DAY Of March, 1851
ALEXANDER RAMSEY Governor d. b. Loos President of the
Council; NJ E. AMEs Speaker of the House of Repesen
""nesnim ri pbnaf alfs go s 'a2 el si s79a' fi 'e
incorporate Company
BE snactsd p the Legislature Assembly, of the Territory of Mn
nsoa That Orange Walker John McKusick George b. Judd
Levi Churchill Socrates Nelson Daniel Mears w n c. Folsom
William Kent associates and be- and
they hereby body corporate po for the
hereinafter mentioned by the Of the Saint Crox
they shall be- they hereby
bic in law and be contracted with and be sued
plead and be and defend and be an
sweed Of record elsewhere and purchase and
hold personal mixed and the to grant
SELL mortgage otherwise dispose Of for the benefit of said
Coany devise and keep make and enforce
any Bylaws not contrary the Constitution and laws of the
United States ofhi Terrtor and enjoy all the privileges
franchises and immunties incident o a corporation.
SEc 3 The Capital stock of said Company shall be thou
dollars shares Of hundred dollars each; the Board
Of Directors shall have power any time whenever majority
value of the stockholders, shall deem the advisable
the said capital stock exceeding the
whole twenty-five thousand dollars and the stockholders shall be
3 Any three of the individuals first section
water county Washington purpose of receiving
subscriptions the capital stock of said Company first giving
days notice two published this Ter
rtory, Of the time and place of opening such books.
Whenever five thousand dollars of capital stock sh.
have subscribed and five dollars upon each share
scbed for shall have been actually paid IN any number OF the
subscribers who shall majority of the then
subscribers thereuuo giving days notice of the and
of such meeting any two newspapers published in this
Territory and those of the subscribers who be such
meeting called shall have the power and be elect
Board of FIVE Directors from the stockholders Of said Company
Sec s. The Board of Directors thus chosen, shall proceed
their President of Company shall
who shall both Treasurer and Secretary
of said Company and who shall bonds be by the
President Directors said President Directors
penal Of five thousand dollars conditioned for the faithful and
such first meeting said President and Directors shall and
adopt code of for the regulation and of the
affairs of said Company which be altered amended
subsequent meeting of said Board of Directors
Scc The said President Directors and Treasurer and Sec
sections shall remain in their Offices until "Wednesday
immediately preceding the twentyfh day of December the
of Lord thousand eight hundred and
which said Wednesday, meeting of the said stockholders shall
be held and Board of five Directors chosen who shall remain
in office for year thereaer and annually thereafter
Wednesday preceding the twenty fifth day of December
each meeting the stockholders shall be held and Beard
Of five Directors shall be chosen for the ensuing Prorded
That vacancy shall be created ohce by reason of
Resignation death otherwise the Board of Directors shall have
power fill such vacancy the remainder Prorded
the President of said Company shall be chosen from the
FIVE Directors thereof Treasurer Secretary shall always
be chosen by the said Board of Directors according pro-
visions of the fifth section of this act @ ror, a. b..
b. See The President said Company shall power
call meeting of the stockholders time by giving twenty
of the time place said meeting any
papers published in this Terroy and three of the Board
Directors majority value Of the stockholders shall
like power call such meeting of stockholders like
Prordd That the duties powers President not
act specifically forth shall be specified and prescribed the
adopted by the Board of Directors according the
visions of the fifth section of this ,r - - -.
Sec The Board Of Directors shall meet such times and
places they shall regulate by their they shall fix tie
compensation of all officers the Company and define their duties
sha by their the government Of all meetings
of their Board and Of the stockhoders generally shall
have to for the benefit and purposes of the said
Company IA orr iri ,ea d,it -f,at7 oIrg W sseh3
Seq 9.uIhe Secretary shall meetings the Board
Of Directors and of the Stockholders and shall keep just
record of all the such Treas
and Secretary shall perform such duties the Board of D
rectos shall by their bylaws prescribe: 'a 10 n9SD q
Sec TO- Every share shall be entitled to and
meeting for the choice of Directors the five stockholders having
the highest number of shall be elected Directors and
meeting of the Board of Directors for the choice
dent the Director having the highest number of shall be
elected President Prordd That at any meeting Of the stock
holders majority in value shall constitute quorum, With power
all busness and meeting Of the Board of D
rectos any three Of the Board Of Directors shall constitute
quorum power transact business. Dan 7a Hoa '9
Ii Sec H. The said Company shall be, and hereby auhof
empowered construct and Bo6m upon
the River St Crox such point between Osceola Mills socaled
and Rock Island called, they select; which Boom
all logs and hewn timber coming down the said shall be
gathered by the said Company and such logs timber shall
be retained such Boom by the said Company for longer
period than twenty days. unless otherwise agreed by and
the Of such logs timber and the said Boom
Company and the said Company shall held accountable for all
neglect to keep said Boom good order and repair and all
damage which failure of the sd
SEC H. The said Company shall the said logs and
timber according their several marks; shall raft the Of
Crox Called and shall deliver the the several
thereof such points said Boom the said head
the Lake ST. Crox the said of particular
mark marks Of logs timber shall direct such dogs TIMBER
SO marked be delivered Porided That the said Boom Com
shall not be obliged any timber the foot of