River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1878-05-02
Published Marehs9, 1873.
CHAPTER 3l5.

AN ACT to authorize the incorporation OF
street railway companies.
The people of the State OF Wisconsin, repre-
scented ia Senate and Assembly, do enact as
follows:
Section l. Anv number Of persons not less
than three who shall desire TO associate for
the purpose Of constructing, maintaining and
operating & street railroad in any city or vii
lage, may, for that purpose, make and sign
articles of association in which shall be stat !
the name of the company, the line OF the road
as contem lated to be constructed or operate 4,
the amount of the capital stock OF such com
pany, and the number Of shares into which it
shall be divided, the names and the places of
residence of the directors of the company who
shall manage its affairs for the first year and
until others shall be chosen in their places,
and the number Of such directors shall not he
less than three nor more than nine Each
subscriber shall subscribe thereto his name,
place OF residence, and the number CT shares
he agrees to take. Such articles OF association
may then be fled in the Office of the Secretary
Of State, who shall indorse thereon the date OF
filing, and shall record the same.
Section 2 Upon the filing of such articles
of association, the Governor and Secretary lof
State shall issue TO the subscribers patent
under the great seal of the State, signed by
the Governor and countersignedSy the Secre-
tary of State, substantially in the following
form: To all whom these presents shall come,
scribing the articles OF association have flied
in the Office of the secretary Of state certain
articles Of association, with view TO forming
a corporation to be known as here insert
name5, with capital of here insert amount
for the purpose Of constructing and Tor main
tanning and operating street raitway in
the --of- f, and have complied with
the statutes in such case made and provided,
therefore the State OF Wisconsin hereby grants
unto the above named persons, and their sue
cessors and assigns, full authority, by and uu
der their said name OF - -, 10 eXer-
else the powers and privileges Of corporation
for the purposes above stated, and in accord.
ance with their said articles Of association, and
the laws of this State.
In witness whereof these presents have been
attcsted with the great seal and signed by the
governor and countersigned by the secretary
of state of the State of Wisconsin, at Madison,
the-day Of in the year one thousand eight
and
IL. 81 Governor
Section g. From the issuing Of such patent
the parties therein named shall, with their
successors and assigns. constitute a body
polite and corporate, under the name so
adonted, and with the powers and subject to
the limitations provided in ..ns act
Section T. Such corporation may sue and
be sued may have common seal and alter
the same at pleasure; may elect in such man
ficers; may fix their compensation, and define
their duties; may ordain and establish bylaws,
and alter and repeal the same; may employ
agents, servants and laborers as they shall
think proper, and MAJ acquire and hold in fee,
or otherwise, such property, real or personal,
as shall be necessary in executing the pur
poses of such corporation.
Section s. After the issuing OF such patent,
any two of the corporators may call first
meeting Of the corporators, by giving I'VE
DAYS notice to each corporator Of the time and
place of such meeting; provided, that such
notice NAV be dispensed with, II all the cor
porators shall be present at the first meeting,
either by person or By attorney. Until board
of directors shall be elected, the persons
named in the patent shall be directors OF the
corporation.
Section 8. The stock, property, affairs and
business of suehcorporation shall be under the
care Of and shall be managed by not less than
three directors, who shall be chosen by the
stockholders annually. But their term Of
Office NAV be fixed at three years, In which
case one third OF the number shall be annual
liz elected. Each stakeholder shall have che
vote for each share Of stock owned by him;
and each director shall continue in Office un-
til his successor shall be elected In case of
the death. resignation o. other disability Of
any director, the vacancy so created shall be
filled by the remaining directors
Section :. The directors shall choose one
of their number president, and he and the
otker officers shall hold their Offices one year,
and until their successors shah be elected.
Section s. The corporation shall not be dis
solved By any failure to elect directors at the
anpual meeting, bat such election may be held
at any time thereafter. by giving such notice
as may be required by the bylaws.
Section g. The stockholders may enact
such bylaws for the control OF the board CT
directors as they shall see TT, and may alter
and appeal the same at pleasure. Stoekhold |
ers may appear and vote in person or by /
proxy, filed with the secretary Of the company. 4
A majority OF the directors shall constitute a /
quorum for the transaction Of business. ANY /
director or stockholder, upon request Of hold /
ers Of one-fourth of the stock, may call /
meeting Of the stockholders by giving them /
ten days notice Of the time and place Of such /
meeting, in such manner as the bylaws may 1
provide.
Section 10. The directors may call in the /
TO the capital stock Of such COR
porafion BY installments, Ia such proportion
and at such times as they shall think proper, /
and may enforce payment thereof, after such
period OF time as the bylaws may prescribe,
By suit. in the name Of the corporation, or by /
'orfeitlng the stock on which such instaliments
shall be payable after sixty days notice Of