The Portsmouth inquirer. [volume] (Portsmouth, O. [Ohio]) 1849-1855, 1851-03-10

long as they shall respectively continue IN OF
fee; Provided. that lii any of the directors
shall, at any time before the time fixed for the
payment Of such dividends, object thereto, aid
shall within thirty days thereafter file celtiti-
cate Oi their objection, in writing, with the
Secretary Of The company, and with the recor-
4 der IF the county, they shall be exempt from the
said liability.
. SIC IA. If any certificate report made, or
public notice given, by the officers Of any s1ch
company. in pursuance Of tie provisions of this
act, shall be falte in any material representa-,
ton, all the officers who shall have signed the
same, knowing it to be false, shall be jointly
and severally liable for all the debts of the
company contracted while they are stockholders
or officers thereof ss
SEC. 10. The stockholders Of any company
organized under the provisions of this act. shall
be jointly, severaily and individually liable for
all debts that may be- due and owing fgr all debts
and services performed for such corporation.
SEC. 16. No Stockholder shall be personally
\ liable for the payment Of any debt contracted
by any company fOrn ed under this act, which is
not paid within one year from the time the debt
is contracted, unless suit for the collection Of
such debt shall be brought against such compa-
ny wi hin ne year after the debt shall become
due; and no suit shall be brought against any
| stakeholder who shall cease to be stock kholder
in any such company, for any debt SO contracted,
unless the same shall be commenced within two
years from the time lie shall have ceased to be
stakeholder in such company, nCr until an
execution against the company shall have been
returned unSatiS6ed in whole or in part,
SEC. II. Any corporation formed under this
act shall have full power tp manufacture and
sell, and to furnish such quantities of gas as
may be required in the CITY, town or village
where the same may be located, for lighting the
sheets, and public and private buildings, or for
} other purposes and such corporation shall
have power to lay conductors for conducting gas
through the streets, lands, alleys and squares
~ Such city, town or village, with the cons mt of
the municipal authorities Of said city, town or
village, and under such reasonable regulations
as theymay prescribe and such municipal au-
thoritles shan have power to exempt any corpo-
, ration tormed under tie provisions of this act
/ from taxation On their personal property, for
city or county purposes ior period not exceed
ing three ye.rs from the organization of said
l. corporation.
$ SIC. IL. Amy person wilfully iniurnr, or
( causing to be injured, any property Of any cor
poratlon created under this act, shall forfeit and
e pay to the said corporation treble the amount Of
r damages sustained by such injury, to be recov-
l cred Ill any court having cOgniZahce thereof.
!. SLc. ~. ANY company which may be form
T ed under this act may increase or diminish its
:, capt i STOCK, by complying with the provisions
i ot Ills aci, 10 any amount which may lie deemed
y sufficient and proper fort the purposes of the
: Corporation, But Lefure any corporation shall
e be entitled to diminish tie amount Of its capi
t tai stock, if the amount Of debts and liabilities
: shall exceed the amount Of capital TO which, il
is proposed to lie reduced such amount Of debtS
and liabilities shall lie satisfied and reduced SC
t as not To exceed such diminished amount o.
d capital aud any existing company Heretofore
e fUrmed under any special act may come undel
and avail Itself Of the privileges and provisions
i OF tins act, by complying with the following
S provisions, and thereupon such company, lis
officers aud stock holders, shall be subject to all
the restrictions duties and liabilities Of this act
4 SEC. ~. Whenever any company shall desire
to call meeting OIL the stockholders, for the
purps Of awaiting itself Of the privileges an(
provisions of this "ct, or for increasing OF dimin
ishng the amount Of its pital stock OF for ex
tending its business, it shall be the duty Of The
: directors publish notice. signed by at least
majority OF them, IN newspaper in the county
: II any Shall lie published therein. at least SLY
successive weeks, and to dep 5sit a written OF
printed cLpy thereof in the Post Office, addres.
std to each stakeholder at his usual place Of
residence, al least four weeks previous to the
!, day fixed upon for holding such meeting speci-
n flying the object of the meeting, the time and
g place, when and where such meeting shall be
! heid, and the amount TO which 1t Shall be pro.
II posed to Increase or diminish the capital, and
II the business OF such company 50 extended, and
N vote OF at least two thirds Of all the shares O
) stock shall he Unnecessary to an increase or dimin
ution Of its capital stock, or the extension of its
n business as aforesaid. or to enable company to
v avail, itself Of the provisions of this acl.
SIC. II, II Gt any tIu.e enu puce specified
II in the notice provided for in the preceding sec.
q ton Of tins uct, Stockholders shall appear in
4 person or by proxy, IN number representing
Nj not less thun tMo-ihrds oi all ,lie shures Of
1 stock OF the corporation, they shall organize
! by choosing one 0l the directors charm, OF
y the meeting, and also suitable person for Sec
q reiarv, ana proceed IL vote ol those prcse Il,
Q in person or by proxy and ii, on comparing
q The votes, it shall appearlha sulhcIenl mum.
Der Of votes has been gwen in lavor ol incrras-
:. ing or diminishing the amount of cap.tal or Of
extending It's business as aio esdid, or for avail
. ing itselI OF tho privileges and PROVISIONS oi
this acl, u certiticate o. the proceedings, show
lug compliance with the proyis ions vi i,is act,
tte amount OF capital actually pald in, the
. wllole amount o tile debts aud iia.hlics oil tie
COMPANY, aud the amount TO winch The capllui
STOCK shall be Increased or diminished, s II Ue
: made out, sIgned aud verified by the diiiluvit
OF the cllsIr,,s.., anu be counters.ned by lie
secretary; and such certificate shat W ucknowl.
elged b. the chairman, and tiled as required Ly
the lirsl section Of this act, anJ when 50 tiIcd
The capital stock oi such corporation shall De
ihcreused or dlnihished, 10 tie amount 5 ,eclh. .
, edi such certificate, al,d the business extend
I Cd US aforesaid; und the company snail be en-
titled to The prlvIeges and PROVISIONS, And be
subject 10 tho iiablity ol this act, ~ tne case
may bc. hat The capital stock VI each ana
4 every such company us may bc iorlued under
the pruvsI0nut Inns aci, shdll be annually list
0 eu by The pres cent or secretary thereof, und
I assessed III lis real vulue IN money, anu taxed
IN The same manner ana to Tho sahle extent as
{ other dhattrl pro ptrty, at the place where the
office OF such cvnipu ny snail be kept. aud slail
< be subject 10 ail the laws now IN operation ior
g the sxulIon oi p, rsUnal property, or Which
| inuy hereafter be enacted by The Legislature o.
. uho, subject 10 the provisions relating 10 cor
: poratlcn taxes in seC. II Of this ucl.
1 SE ~. Al any time utter .wenty ycars
( lron ana utter The organzatlun ol aliy corpo,
ration formed under This act, the Legislature
mu annul such corporation but the dissou
ton of such com any shall MOI take away or
! impair any romeiy glsen against such corpora.
ton, lis Stockholders or officers, or any II bill.
! ity which shall have been previously increased
| incurred.
: SIC. 2s. Upon the dissolution Of any cor.