The Minnesota pioneer. [volume] (St. Paul, Minn. Territory) 1849-1855, 1851-06-12

Be enacted by the Legislative assembly Of The Territory Of Mn
nesoa That Washgton Gchel Franklin Steele j. G Lennon,
caes and assigns and they hereby constituted
body corporate and poc for the purposes hereinafter mention
ed by the of the Sant Anthony Boom Company for the
period of fifteen years. and by that they and their
shall be- and they hereby made capable law to contract
and be contracted WITH and be sued plead and caded
defend and be answered. court of
record eewhee and to purchase and hold estate real
personal mixed and the to grant, SELL lease mortgage
otherwise dispose Of for the benefit Of said Company devise
and keep SEAL make and enforce Bylaws conaryto
the Constitution and laws of the United States this Territory
and to enjoy all the privileges franchises and mmuns incident
corporation Proded That nothing herein contained shall
the establishment of Ferries time hereafter
point within the limits of this charter when become neces
sary.
SEC q The capital stock company shall be fifteen
dollars hundred dollars each and the
Board of Directors shall have time whenever
jory value of the stockholders shall deem the advisable
increase the number shares to an amount not exceeding
the whole twenty-five thousand dollars And the stockholders
shall be individually liable for the debts of said Company
Sec g. The individuals named in the first section OF this act
three he shall books be opened ST. Anthony
Falls the county of Ramsey for the purpose Of receiving sub
the capital stock said Company the first Mon
day in April 1851.
SEC A. Whenever five thousand dollars Of the capital stock
shall subscribed five dollars each share
subscribed for ha have been actually paid number OF the
subscribers who shall majority of the then subscription
said stock shall be call meeting of the several
subscribers thereto by giving days notice of the time and place
of such meeting two published in tins Territory
and those such meetings.
called shall power and be authorized elect Board
of five Directors from the stockholders of said Company
The Board of Directors thus chosen shall proceed to
number President Of the said Company and
shall choose person Secretary who shall act both Secretary
Treasurer of said Company and who shall bonds to be
approved President and Directors the said President and
Directors penal thousand dollars conditioned
faithful discharge Of hs duty AND
Secretary such first meeting sak President and yecots
of Tor the regulation and
of the affairs Of ad ~ bs.asesed
amended any ubsequeptns said Rsa Directors
SEC. 81 The said President Directors and Secretary chosen
ding the provisions of the preceding sections shall
their several offices until the Wednesday Immediately
preceding the day Of December in the Lord
thousand eight hundred and which SAID We'd
nesday meeting Of said stockholders shall be held and Board
five Directors chosen who shall remain in Office for
,hercaer and annually thereafter The Wednesday next
ccding tweny6h day Of December Of each meeting
Of stockholders shall be held and Board Of five Directors
shall be chosen for the ensuing Prordd That any va
cancy shall be created Office by of resignation death
otherwise Board Directors shall have fill such
vacancy of the Porided also, That the
President Of said Company shall be chosen from the FIVE Directors
thereof Treasurer aud Secretary shall always be chosen by
Board Of Directors according the the fifth
section of this
Sec 4 President of said Company shall have power to
meeting of the stockholders time, by giving twenty
days Of the and place of said meeng two
papers published in this Territory and three the Board OF
Directors majority value Of the stockholders shall have the
like call such meeting Of the like
odd That the duties and of the President IN this
specifically FORTH shall be specified and prescribed IN the