Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1881-04-13
Published March Is, 1881. ]
on A DrHINR TE

Approved March IL, 1881.
Published February 26, 1881
CHAPTER 81.
AN ACT in relation to the election and classification
of directors certain cases.
The people of the state of Wisconsin, represented in
senate and assembly, do enact as follows:
Section L. Every railway corporation created or
hereafter to be created by the consolidation of rail-
way corporations organized and existing solely under
the laws of this state and in whose articles of
sodaton the first board of directors is named, may,
st any time within one year after the date of filing
certified copy of said articles, and Of the record Of
approval thereof, of the consent of the requisite
number of stockholders thereto, in the Office of the
secretary of state, as provided by law, by resolution,
ADOPTED by vote of said board of directors classify
its directors into three classes to be known the
FIRST second and third class so that of the board as
the exists at the date of such classification the
term of Office of directors in the first class shall
pire at the annual meeting next ensuing after such
classification and those in the second class at the
ond ensuing annual meeting thereafter and those of
the third class at the third ensuing annual meeting
thereafter, and at each annual meeting after such
classification shall have been made as aforesaid, a
number of directors shall be elected by the stock
holders for three years equal to the number whose
term of Office shall then expire; all other vacancies to
be filed in accordance with the bylaws.
Section p This act snail take effect and be in force
from and after its passage and publication.
Approved February 26, 1881.
Published March s, 1881
CHAPTER s.
AN ACT relating to the Indebtedness of munich
paities and amendatory of section nine hundred
statutes.
The people of the state of Wisconsin, represented in
senate and assembly, do enact as follows:
Section /. Section nine hundred and sixty of
chapter fortyone of the revised statutes is hereby
amended by striking out all after the word 60 Wis
consIn," and inserting the following: And during
tne period of thirty days. in which they shall be Of
tered for sale within the county, city, village
issuing them, provided in this section they shall
be of denominations not exceeding one hundred
collars, nor less than twenty-five dollars; but after
the expiration OF such period of thirty days, they
may be of any denomination in the discretion of the
constituted and statutory authorities empowered to
issue them, so that said section when so amended,
shall read as follows Section $50 c. Whenever any
bonds of any county, city, village or town. shall be-
come due and payable, or in anticipation thereof,
tue constituted statutory authorizes having the
power by law over the interests of the bond payers
may IN their discretion, cause to beissued, in proper
Iorn-new bonds having not more than twenty
years to run. Ali bonds which may be issued for
the purposes prescribed in sections nine hundred
and sixty a. nine hundred and sixty b, and this
non, shall first be offered for sale within the county,
city. village or town issuing them. for period of
thirty days; notice of such sale shall be by advertise
ment, IN newspaper printed in such county, city,
village Of town. If one be printed therein, and not
then by advertisements posted in at least five public
places in such county, city, village or towns The
terms of sale of such bonds shall be that, to the
person bidding the highest sum, not less than par,
and offering to accept the lowest rate of interest for
the whole any part of said bonds, the said bonds
in whole or in part shall be issued If the bonds so
offered for sale shall not have been sold authorized
by this act, if any portion of them shall remain
unsoid at the expiration of thirty days. such bonds
go remaining unsOld may then be disposed of by the
statutory authorities in such manner in their judg
ment will be for the best interest of the bond PAYERS
but il no case shall bonds be sold except at a
rate of interest low that borne by the bonds for
which the new bonds to be exchanged. Such
new bonds shall bear date and draw interest from
the date OF the payment of the bonds retired,
and shall be made payable at some stated place with
III the state of Wisconsin and during the period of
thirty days in which they offered for sale within the
county. city, village or town issuing them, pro-
not exceeding one hundred dollars nor less than
twenty-five dollars; but after the expiration of said
period OF thirty days. they may be of any denomina
ton in the discretion of the constituted and statu-
tory authorities empowered to issue them.
Section q This act shall take effect and be in
force from and after its passage and publication.
Approved February 10, 1881.
Published March 49, 1881
CHAPTER 90.
AN ACT to amend section thousand, seven hun
dred and ffty-three of chapter eighty-fve of the
revised statutes entitled general provisions re-
lating to corporations
The people of the state of Wisconsin, represented in
senate and assembly, do enact as follows:
Section L. Section one thousand, seven hundred
and fty-tGree of chapter eighty-ve of the revised
statutes, entitled general provisions relating to
corporatons' is hereby amended to read as
follows No corporation shall issue any stock
Efcate of stock except in consideration of money,
labor or property estimated at its true money value
actually received by It, equal to the par value thereof
any bonds or other evidence of Indebtedness,
except for money labor property estimated at its
true money value, actually received by it, equal to
keyentyhve per cent OF the par value thereof, and
all stocks and bonds issued contrary to the provisions
If this section and all stock dividends other fct-
Nous increase of the capital stock of any corpora
non, shall be void provided however, that any cor
poration whose stock or bonds have been or shall
hereafter be admitted to the stock exchange of Chi
cage, New York. Boston Philadelphia, either of
said cities, may sell such stock bonds admitted
at the best price or prices current for the time being
obtainable therefor on any of the said exchanges at
which the same shall be offered for sale.
Pf Gha1 axaa and hl in
from and after its passage and publication
Approved March 16. 1881.
Published March IS 1891
CHAPTER r.
AN ACT to amend section four thousand. six hun
dred and thirty-three of chapter hundred and
lightweight of the revised statutes, entitled:
90 crimes and the punishments thereof"
The people Of the state of Wisconsin represented in
senate and assembly, do enact as follows:
Section /. Section four thousand, six hundred and
trty-three of the revised statutes is hereby amended
to read follows: Section 1853. When fine is
imposed as the whole or any part of the punishment
for any ofense by any law the court shall also SEN
ence the defendant to pay the costs of the
on and the costs incurred by the county at request
of the defendant and to be committed to the county
Jail until the fine and costs paid discharged but
the court shall limit the time of such imprisonment
in each case N addition to any other imprisonment,
IN its discredon in no case however, to exceed six
months: and the court may also issue execution
against the property of the defendant for said fine
and costs.
Approved March IL, 1881.
IPuDhsn6Q mRrcn Ia, 1oS1.l
CHAPTER so.
An ACT relating to the settlement of estates of de-
So ceased persons.
The people of the state of wisconsin represented in
senate and assembly, do enact as follows:
Secrlon l. The surviving partner or partner OF any
deceased person, whose estate is being admin stored
in the county court, shall, whenever required by
order of the unity Judge of the county in which
such is pending render to said court
true and complete inventory of the partnership
property and estate OF the firm and its Outstanding
liabilities
Section 2. Any person who shall refuse or neglect
to comply with amy order made in accordance with
sectio of this act for twenty days after the
vice of a copy of said order, by filing such inventory
verified by his oath TO be true and perfect account
of the affairs of the firm of which the deceased was
. member, shall be deemed to have committed con-
tempt of court, and may by Order be brought be-
fore said court, the judge thereof, and punished
az for contempt III the manner provided by law, and
may be imprisoned until he shall comply with such
order
Section g. This act shall take effect and be in force
49, a 10. n.c.aGro d h 20: fsCr