Prescott journal. [volume] (Prescott, Wis.) 1861-1871, 1864-05-14

of chanter II ~ the general laws Of the extra SEES
sion of 1868, entitled " an act 60 enable the NH
Iitia and volunteers OF this state, when in the
military service of the United states, or of this
state, to exercise thu right OF Suffrage or the
acts anne ndatory thereof
from and after its passage and publication.
Approved April 4. 1854 BA'OPI,
fpubiished May 2, 1864
=, CHAPTER Az.
AN ACT relating 70 elections and amendatory Of
section twenty three of chapter seven OF the re-
yised statutes.
The people Of the state OF Wisconsin, represented
in senate and assembly, do enact as follows:
Section l. Section twenty-three OF chapter seven
of the revised statutes, entitled "oi eieetons IS
hereby anne nde q, so as to read as follows: Sec
ton 49, Whenever, in the opinion OF the inspectors
OF election Of any town, more than one election
poll will be necessary for the convenience OF elec-
tors at any general or special election, they are
hereby authorized co divide said town into two OF
more election districts by their order in wri-
ting which shall be Immediately filed with the town
CLERK specifying the metes and bounds of said new
district or districts and designating the place or pla-
ces where another other polls shall be held and
thepersons who she'll act as inspectors OF electonst
said oil or polls Said division shall be made at
least one week prior the first day October and
notice thereof given by posting up notices in ve OF
the most bile places in such tewn, Immediately
after such division. Said inspectors shall cause
copy of the order creating said new election dis
trct or districts, to be hled with the ciere OF the
board of in which such district IS stu
ated, withiniye days after it Is made"
Sec. q This act shall take effect and be in force
from and after its passage and publication:
Approved April 4, 1854 eA OoPf'
[Pubnshed May 8, 1851
CHAPTER 446.
AN ACT 10 authorize the formation ofcorporations
for the encouraging and aiding of Wisconsin in
ventors and patentees. f-afs1
The people of the s. ate of Wisconsin, represented
in senate and assembly, do enact as follows:
Section l. Any three or more persons who may
desire to form a company for the purpose OF en-
couraging and aiding Wisconsin inventors and pat
entees, may make, sign and acknowledge before
of eeds and file in che Office of the clerk OF the
circuit court of the county in which the bus ness
of the company is to be carried on, and also 10
the Office of the secretary of state, eertihcate in
writing, in which shall be stated the corporate
name of said company, the object Tor which 1t Is
formed, the number OF its directors, and he names
of the persons chosen directors for the first
year, and the amount of a single share of its cap
itaI stock, and the name of the town and county
in which the elections and business meetings OF the
said company are to and shall be held.
Sec. q The capitaI stock Of any such company
shall not be less than one thousand dollars, nor
more than one hundred thousand dollars actu-
ally paid and such company shall have perpetual
succession.
Sec 8. The directors of any such company
shall at their first meeting after the filing of said
certificate in the Office OF the secretary OF state,
elect a tire asurer for the faithful performance Of
whose duties they shall be seyeraiiy ana collect
lively surieties to the creditors of such company,
TO the extent of the moneys which should be in his
hands, belonging to such company, coilaterally,
however, to bond for such sum as the directors OF
any such company may require and with surities
by them to be approved, and for the same purpose
conditioned: provided, ho1oeUeT, that no such
election shall take place before said company has
corporate existence.
Sec. A. After the filing of such certificate with
the clerk of the proper court, such CLERK shall,
upon proof that like certificate has been filed
with the secretary of state, issue license TO he
persons who shall have acknowledged and signed
the same setting forth that they, their future as
l.l.s o1aa in act and IN.
name be body corporate and polite, by the name
sta in such certificate and by that name shall
have perpetual succession, and be capable OF be-
ing sued In any court of Law or equity In this state,
and of suing in any court of law or equity, and
may have a common cal, and alter the same at
pleasure, and be capable OF purchasing and hold
ing, conveying and dsposing of real and personal
estate, chooses in in action, and securities negoti
able otherwise, patent rights and the inpatient
ed rights of inventors, and the taking all necessary
as res of testing the value OF the same, and of
securing patent right for any Improvement or in
venton, and to per form such other acts as may be
expedient and necessary TO enable the said compa
nv to carry on their operations aud business named
in said certificate, upon receipt of which, the said
company shall be body polite aud corporate for
all the purp set forth in said certificate, sub
jeet however, the further provisions of this act
Sec 8. The board of directors named in the
said certificate shall be stockholders OF said COM
pan and shall OF be fewer than five and shall elect
one of their number as president, and shall have
power to make bylaws and perform such other acts
as the business of the company may require, not
inconsstent with the laws of this state with its
license.
held at such time and place shall be designated
in a notice of the board of directors, served per-
sonally on each stakeholder, or the legal repre-
sentative OF stock, OF sent to his address through
the postoce, at least fifteen days before the cleo
ton, which shall be by ballot, and the name of
each stakeholder and the number of shares repre-
sented by him or his proxy, or by any executor ad
mnistrator, guardian curator, shall be indorsed
upon il. Each stakeholder or legal representative
of stock, shall be entitled to one vote for each
share of stock held by him, and those persons, to
the number necessary to constitute such board who
shall have received the greatest number of votes,
shall be directors. II from any cause the election
shall not be held as designated, it shall be held
upon such day as may be in like manner designated
by the board of directors.
Sec. 7. Any such company may increase the
amount of its capital stock until such stock shall
have reached the maximum amount or limit pro
Uided, hoaoeosr, that statement of any such in
crease shall be filed annually in the Office of the
Sec. S. When any vacancy shall occur in the
board of directors, whether occasioned by death
resignation, neglect refusal or inability to ser ye
or otherwise il shall be filed temporarily for the
remainder of the term, by the board of directors ;
but majority of the board shall not be so substi
tuted, and when vacancies shall have occurred re-
quiring substitution of more than moiety of the
elected directors, then special election shall for
such purpose be held
Sec 9. Special elections may be held for the
election of directors, but all such elections, and
all meetings of stakeholder for other purposes
called, shall be called under the provision of Sec
Sec. 10 The business of any such company
shal be confined to the aiding and encouraging of
Wisconsin inventors and pattentees, and shall em-
brace the manufacturing OF articles so patented,
of experimenting and testing the value of discov
cries and improvements before the same shall have
been patented, and of holding in the name of and
for the benefit of any such company, not exceed
ing the one-half interest in any such invention,
discovery, improvements or patent, and shall have
all the necessary powers for such purposes, and
for the disposing Of all articles manufactured or
construc ed under its authority and direction, and
of the town, city, village, county or state right
which may exist under ana by virtue of any caveat
patent to any discovery, invention or improve
ment in which any such company may acquire an
interest. 81 H
Sec. IL No such company shall purchase or in
any other manner acquire, for money consdera-
ton, greater amount than one-tenth interest In
any such discovery, Invention, improvement or pat
ent, bu. any such company may acquire, not exceed
ing the one-hafnterestI in any such discovery in
vention, Improvement or patent, il such company,
shall propose to test the value of the same and to
procure and to secure patent therefor, for the
benefit of the inventor and any such company, or
to aid the introduction to of any patented ar
ticle, by the manufacture construction of 1t.
Sec. II The capital stock of every such COM
ppny shall be deemed personal estate, and shall be
transferable on the books of he company.
Sec. ID. When the assets and effects of any
such company shall be found to exceedby twenty
five per centum the amount of its capital stock,
upon filing with the clerk of the circuit court
certificate, signed and sworn to BY them, the board
of directors may declare a dividend Of any amount
exceeding such access, and which dividend shall be
paid to the stockholders or their legal representa-
tives by the treasurer of any such COMPANY, in
such manaer that the dividend upon each and
every share of stock shall be an equal and like
sum amount.
sec IA The capital stock OF any such COM
pany may be reduced, its business operations ex-
tended or changed, at any meeting cailed and held