Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1891-06-25
Published MAY IS. 1871.


No. 90. s. Published May IS 1891.
AN ACT 70 smend section IT'S. chapter So. re-
vised statutes IS amended b. chapter rs.
laws Of 1881, and chapter 90 laws OF 1888. relaI-
ing 0 corporations
The people Of the state OF Wisconsin represent
ed in senate and assembly, do enact SIS FOL
Section /. section I775. chapter 50. Of the re
vised statutes OF Wisconsin. as amended by
chapter lS3, of the laws Of 1851. and by chapter
20 Of the laws OF 1883. Is hereby further amended
By inserting therein, after the word corpora
ton where il occurs in the twelfth lire OF said
section I775. the following. Except upon and
with the assent OF the holders 81 threefourihs Of
the capital stock Of both the corporation propOs-
ing TO take such stock. and the corporation in
which il i proposed 10 be taken" SO that said
section Nben 50 amended shall read as follows
Section I7s5. Every such c. rpordtlOn, when 80
organized shall be body corporate by the name
desiz mated in its articles, and shall have the
powers of a corporation conferred by these
statutes. necessary or proper TO conduct the
business or accomplish the purposes prescribed
By il articles. bat no other or greater, and may
take by gift. devise. purcbaselor otherwise, and
manage ana hold. convey, mortgage. lease or
otherwise dispose Of: at pleasure, such real and
personal property Of whatever Kind as shall be
necessary TO its business or purpose. or The pro
lection or benefit of its property, held or used
for the corporate business or purposes, ana such
as shall be taken in payment or security for
debts due to such corporation. But no such
corporation shall take or hold stock in any other
CORPORATION, except upon anu WIZ the assent OF
the holders Of three-fOurths Of the capital stock
Of both the corporation proposing TO take such
stock and the corporation in which IL Is pro
posed to be taken provided, that any corpora
ton hereof formed or organized, or which
may hereafter be formed or organized, under or
in pursuance of any general OF special law Of
this state, for the purpose OF carrying on log
ging or numbering business, or for engaging in
the manufacture of lumber, Or the improvement
OF the navigation OF any ri er or stream, fer log
driving or numbering purposes. or the running:
driving, booming sorting, brailng or rafting OF
logs. timber. lumber or other materials upon or
down any river or stream. and any foreign cOrpo-
ration. formed or organized for similsr or kind
red purposes, may. and upon the assent OF the
bOlders of three-fouTths of the capital STOCK
thereof. shall have authority TO purchase. take
and hold stock in and in its corporate capacity
become q subscriber to the capital stock OF any
Otl.er corporation or corporations. foreign or
domestic, created or formed for any one or more
of the same or similar purpose; provided also.
that any corporation heretofore formed or orga-
niZed or which may hereafter be formed or orga
nized. under OF IN pursuance OF any general or
special law of this state, for the purpose OF mia
ing smelling quarrying, or any mechanical or
manufacturing purpose, upon and with the as
sent of the holders of three fourths OF Its capl-
tai stock. may and shall have power. IN lts
corporate capacity, to subscribe for, purchase
take and hold stock in any corporations: foreign
or domestic formed for the purpose of manu-
featuring, creating or generating any KIND OF
power or light to be used as mechanical agency
when such power light IS to be used wholly
or in part in facilitating the operations OF such
mining smelling quarrying, or other mechanical
or manufacturing company, or the transaction OF
its business provided nothing in TINS act shall
be construed TO extend or restrict the powers OF
railway corporations, nor to authorize railway
corporations.
Section .. This act shall take effect and be in
force from and after its passage and publication.
Approved April 10. 1891.