The Portland daily press., 1867-03-26

CECr. T. Ills ACT Shall take eIeCL when approved
by the governor.
(Approved February %, 1861
Chapter 1875.
AN ACT to provide for the incorporation of mining
companies
Be ii enacted, &c.
SECT. l. That three or more persons who shall
have associated themselves together by articles of
agreement in writing for the purpose Of carrying on
any mining or quarryng business in this state, and
shall have complied with the provisions of this act
shall be and remain a corporation under any name
indicating their corporate character and assumed in
their articles of association.
SECT. 2. That before such corporation shall COM
mence any business, the president treasurer and a
majority OF the directors shall sign swear to and de-
post with the attorney general Of the state certif-
cate setting forth the corporate and purposes of
the association, the amount of the capital stock the
amount already paid in, and the par value of the
shares in the corporation the and the residence
of the owners and the number of shares owned by
each the name OF the county in which the chief oper-
ations of the company to be carried on the num-
Der and the names of the directors who shall manage
the affairs OF said company until the next annual
election, which certificate shall be examined by said
attorney general
SECT. 9. That when the said certificate shall be
certified by the attorney general be properly drawn
and signed, and that the same is in conformity with
the constitution and laws of the state the same shall
be recorded in the office for recording deeds in the
county in which the business of the company is to be
carried on as aforesaid in suitable book to be kept
for that purposes and copy of said certificate, duly
in the Office of the secretary of state; and the sad
secretory, upon the receipt of such certified copy
shall enter thereon and upon the original certificate
to be retained by the company the day aud date of
the filing of the same and shall true copy of
such certificate to be recorded at length in suitable
book to be kept in his office for that purpose.
SECT. 4. The persons applying for such corpora.
ton shall pay to the said attorney general and to the
said secretary of state, the sum of five dollars each
SECT. S. When the certificate shall have been re.
corded and filed as aforesaid, the persons who shall
have signed and acknowledged the same and their
successors, shall from the filing of such certificate in
the office of the secretary of state aforesaid to be
body corporate and polite in law and in fact by the
name stated in such certificate, and by that name
have succession and be capable of suing and being
sued and shall by their corporate name be capable in
law OF taking holding and conveying such real and
personal estate in fee simple under lease is
essay or convenient for the purpose of its oganza-
ton.
SECT. 6. That the quantity of land to be held by
such company shall not exceed one thousand acres
poration shall be fixed and limited in its articles Of
association; and the corporation may increase d-
minish its amount and the number of shares at any
meeting of the stockholders specially called for the
purpose but the capital stock shall never be less than
five thousand dollars nor more than two hundred
! SECT. 8. The said capital stock shall be divided
into shares of not less than dollar per share and
no share shall be issued for less than its par value
SECT. 9. No note obligation given by a stock
holder, whether secured by pledge or otherwise shall
be considered as payment Of any part of the capital
stock.
SECT. TO- That whenever any company organized
under this act may increase or reduce its capital stock
to by the president and majority of the directors
and shall be recorded in the Office of the recorder ~
deeds for said county, and in default thereof the d.
rectors of the company shall be jointly and severaii
liable for all the debts of the company CONTRACTED
after thirty days from said reduction and before tba
recording of such copy "ie
SECT. II. That the first meeting Of such cornor,
ton shall be called by notice signed by one or moro
of the parties to the articles of Stating e
tlme place ana purposes of the mectup a co., nf
which SHALL two weeks at least before tho oabn %
De gwen 10 each member, published in some news,
paper Mt IN the county in which said corporation
tnse mat shares of the capital stock may be
ritin by the proprietor by an instrument in
of ; uhuer ms hand and recorded by the secretary
iu COZ poratlon in book to be kept for that pur-
posei the purchaser named in such instrument,