The weekly register. [volume] (Point Pleasant, Va. [W. Va.]) 1862-1909, 1870-11-03

NAV be deemed sufficient and proper Tor
the purposes Of tho corporation, and may
also extend its business to other mauufoct-
uring, mining, or mechanical business,
subject to the provisions aud liabilities Of
this act. But before any corporation shall
be entitled to diminish the amount Of its
capital stock if the amount Of its debts
and liabilities shall exceed tho amount Of
capiinl to which it is proposed to be 70.
duced, such amount Of debts and liabilities
shall be satisfied and reduced SO as not to
exceed such diminished amount Of capital;
and any existing company heretofore
formed may come under and avail itself Of
tho privileges aud provisions Of this act By
complying with the following provisions.
and thorcupou such company, its officers
I and stockholders, shall be subject to all
the restrictions, duties, aud liabilities Of
this act. M sEa ff.
/ Whenever any company shall desire to
call meeting Of the stockholders for the
purpose Of aSdilipg itsclfof the privileges
Of this act or for increasing or diminishing
the amount gifts capital stock, or for ex-
pending or changing its business, it shall
DO the duty Of tho trustees or directors to
publish a notice signed by majority Of
them in a newspaper in the District Of Co.
lumbia Mt least three successiy; weeks, and
to deposit notice thereof in the post Of
fec addressed to each stakeholder at his
usual place Of residence, ut least three
weeks previous to the dag fixed upon for
holding such meeting, specifying tho OBJ
! ject of the meeting aud the titno and placo
when and where such meeting shall be
held; aud n vote of at least two thirds Of
all the shares of stock shall be necessary to
an iBcraasc or dimiDutiun Of the amount Of
its capital stock or the extension or change
Of its business as aforesaid, or to enable
company to anvil itself of the provisions of
this act.
If, at any time and place specified in the
notice provided for in the preceding sec
ton, stockholders shall appear by proxy or
in person. representing not less than two
thirds ofall the shares of stock of tho cor
poraton, they sliall organize and proceed
to q vote Of those present in person or by
proxy; and if, on canvassing the votes, it
shall appear that sufficient number of
votes are in favor ofincreasing or diminish
ing the amount Of capital, OIL extending or
changing its business as aforesaid, or for
availing itself Of the privileges and proyis-
ions Of this act, certificate Of the pro.
ceediugs, showing q compliance with the
provisions Of this act, the amount Of capt.
talactually paid in, tho business to which
it is extended or changed, tho whole |
amount ofdebts and liabilities oftho COM
pany, and the amount to which the CAPT
tai steck shall be increasedo or diminished.
shall DO made out, signed, and verified BIZ
the affidavit ofthe chairman. and be cou1,
tersigned by the'seeretary; and such ccl
tiGcate shall be acknowledged by the chai
man, and fled as required by tho first SCI
ton Of this act. and when SO fled the cap
tai stock Of such corporation shall be il
creased or diminished to the amount spec
flied in such certificate, and the businc,
extended or changed as aforesaid; aud Il
COMPANY shall be entitled to tho priyileg
and provisions, and be subject to tho i
bilitics Of this act.
II the Indebtedness Of any company d
ganizcd under this act shall at auy iii
exceed the amount of its capital stock, 1
trustees of such company asserting there
shsll be personally and individually LA
for such excess to the creditors Of the co
pany.
No stakeholder shall be personally
bic for the payment of any debt contrac
by any company formed under this
which is not paid within one year from
time the debt becomes due, unless a
for the collection of such debt shall
brought against srch company within
year after the debt became due; and
suit shall DO brought against any ste
holder who shall cease to be st0ckhol
in any such company, for any debt
tracted by said company, unless the 3,
shall be commenced within two years +
the time he shall have ceased to be std
holder, nor until an execution against
company shall have been returned uns hsts-
fed IN whole or in part.
1t shall be the duty ofthe trustees of
every corporation formed under this act to
cause a book to be kept by the treasurer
or secretary thereof, containing the names
of all persons, alphabetically arranged. who
are or shall within six yesrs have been
stockholders of such company, and showing
their place Of residence, the number Of
shares of stock held by them respectively;
the time when they became owners of such,
shares. and the amount of stock actually
paid in; which book shall, during the usu-
al business hours Of the day on every bus
mess day, be open for inspection ofstock-
holders and creditors of the company, and
their personal representatives., at the Office