The San Francisco call., 1897-02-02


payable semi-annuaily; and, after all the
expenses OF the business and the diyi-
oenq nave been paid there shall nrst De
estabIlshedsa reserve fund equal to the par
value of the capital stock. and, after the pay
ment OF said dividend and the establishment
Oh SAID reserve fund, the remainder OF the net
pronts, II any. shall at a fixed time IN eacn
year be expended for one or more objects OF
general public benefit and utility, such as IN
dusirlal educ alton, coffee-houses and reading
rooms parks, hospitals, public baths and SAM
tary improvements. The objects of such ex-
pend1ture in each year and the proportion OF
salu remainder to be expended fo7 each one OF
the OBJECTS selected shall be determined py
the shareholders at a meeting called Tor that
purpose.
The Commiss ioners OF Banks shall lnvesti-
gaze, examine and proceed against every sucn
corporation In like manner and with the same
powers as is now or shall hereafter be pro-
Vlueu In the case of banks, SO far as such pro-
visions are applicable thereto; and IL IL snail
appear to said Commissioners that the Dusi-
ness OF such corporation is being carried on on
so tnat It's shareh olders are receiving or Will
receive therefrom, directly or indirectly, more
thah the olvidend OF per centum as nereln-
before provided, said Commissioners shall ap-
ply to Judge of the Superior Court TO issue
an IN junction TO restrain such corporation. In
wnole or in part, from further proceed
ing with its business, in like manner
as is now provided with respect to banks;
ana sucn Judge shall have the same powers
ana duties In respect to such applications as
are now given i'll respect to banks. Said Com
mlssloners may cause any such examination
10 De MADE by an expert under their dlrec-
uon, at the expense of the corporation Every
SUCH corporation shall annually, within ten
days after the last business day OF its fiscal
year, make a return TO said commissioners,
Whleh return shall specify such details OF its
business as said Commissioners may direct,
and shall include the names aud number of its
employees and the salaries paid to each, and
tne salaries, II any, paid 10 the officers
OF said corporation. Blank forms for such
returns shall be furnished by said CommiS-
SloheTs. SAID annual returns snail be pub
lshed IN a newspaper of the city or town
where such corporation is established; or, ii
no newspaper is published in any such city or
town, In the newspaper published nearest
such city or town, at the expense OF such
corporation, at such times and II such manner
as SAID commissioners may direct Said Com
missloners shall biennialy make report to
the legislature of such facts and statements
respecting such corporation, and i'll such form
as they deem that the pubic interest requires.
Every license granted TO a corporation under
the provisions of this act snail be subject 10 all
existing laws and 10 all the conditions now
imposed upon licenses granted to private
licensees, anu which are not inconsistent with
the provisions of this act; and they shall be
iurther subject 10 the condition that no sale
whatever shall be made on credit.
The number OF licensed places in which said
corporation may exercise the licenses granted
under the provisions of this act shall be fixed
by the directors, subj ject 20 the approval OF the
licensing authority for the time being; but
the mum Der OF licensed places for the sale OF
intoxicating liquors under the first four
classes, as hereinbefor defined, SHAH not ex-
ceed one place for each 2000 OF the popu tion
OF the city or town In which the licenses are to
be granted, as ascertained by the last preced-
ing National or Stale census; and an licenses
granted contrary to or in excess OF the provi-
sions OF this act shall be void.
The foregoing section shall not prevent the
licensing OF one place in any town voting 10
license under the Norwegian system where
the population is less than 2000.
The fees for licenses granted under the pro-
visions for this act shall not be less than $1,000
nor more than $1,000
All existing laws or ordinances relating to
the issuing, control and revocation of licenses
Tor the sale OF intoxicating liquors, and not
inconsistent with the provisions OF this act,
shal! apply TO licenses granted under his act
ana said corporation shall be subject to al
existing pecuniary penalties for the violation
OF the conditions OF licenses or of the laws re-
lating TO the sale OF intoxicating liquor, and
snail appoint u manager for each licensed
place where It's business Il to be carried on,
who shall be personally liable TO all penalties
Tor said violations occurring in the licensed
place of business undo. his management.
For the purposes OF carrying on the business
OF selling intoxicating liquors under the pro-
visions OF this act, five or more persons may
form corpora ton under the provisions of the
general laws relating TO the formation of
business corporations, and on the formation
OF such corporation shall be subject to the
provisions of said laws and may exercise all
the pow rs OF business corporation formed
hereunder, together with the power to sell
Intoxicating liquors.
Nothing in this act shall be construed to af-
feet existing laws regulating the granting of
licenses for the sale of Intoxicating liquors in
a city or town voting TO grant such flcens es
and IN which no corporation shall be estsb-
lished to take the same herein provided.
This act shall take effect upon its passage.
If this system is adopted it will give San
Francisco about 175 saloons, exclusive of
beer ana wine shops; Los Angeles As,
Oakland %, Sacramento 16, Stockton 8.
Strong opposition has developed to the
two bills introduced by Senator Wolfe
cOnferring new powers on the Boards of
Health OF municipalities andcounties. 1t
comes from San Francisco in the form of
an appeal to the Legislature over the sign
manual OF the San Francisco Butchers
Board of Trade. 1t is in the form of an
eight-page pamp let containing the drafts
OF the two objectionab e measures and
the protest of the organization named,
under the head of Objections to the
Bills"