The Portland daily press., 1899-01-26

made for the different clssses Of stool
which q company may issue. Tho powe
to Increase OF decrease the stock as pro
vided by the present law Is made appli
cable 10 the various olssses. The tota
amount Of preferred stocks shall not *
coed two thirds OF the actual capital pale
In cash or property and such preferred
stocks may II desired be made subject b
redemption at not less than par, at u fxet
time and price to be expressed In the Ger
tiflcate thereof; and the holders thereo
shall be entitled to receive and the com
pany bound to pay. fixed yearly divi
dend, before any dividend is paid on th'
common stock aud such dividend may
be made cumulative; and In no event
shall the holder Of the preferred stock b
personally liable for the debts of the COR
poration, but In case Of Insolvency debit
shall be paid before the preferred stock
Any corporation after It's creation may
create preferred stock by q two-thirdi
vote of the stockholders at meeting
called fur tho purpose
The next section provides that Maine
corporation must have an Office In the
state whsrs the stock books shall be kept
but the directors may have offices else
where and keep the necessary books and
papers for the conduct Of the business.
All books and papers shall be brought
into the state II Supreme court justice
so directs Failure to obey such direction
utilities the organization Of the COM
pany.
Section s 10 peculiar. IL mentions two
GLASSES Of property which corporation
may purchase IL necessary for Its bust
ness and then makes n general statement
that other kinds of property may also
be acquired. This Is the way 10 Is fixed {:
corporation may purchase mines,
manufactures or other property necessary
for Its business. or She stock Of any COM
pany or companies owning, mining.
manufacturing or producing materials or
other property necessary for its business,
and issue stock to the amount Of the
value thereof In payment therefor, and
the stock so issued shall be full paid stock
and not liable to any further call; neither
shall the holder thereof be in any way
liable thereon; and In the absence of
fraud In the transaction, the judgment o (
the directors as to the value of the proper
ty purchased shall be conclusive.
Section provides that corporations
having for their object the building of
water, gas, or electric works, tunnels,
bridges, canals, hotels, wharves, piers or
any like works OF internal improvement
for public use or utility may hold and
dispose of stocks and bonds OF corpora
tons formed for like purposes Stock OF
the purchasing corporation may be taken
in payment for property or labor and
BILE to further payments.
Section 10 provides that any Maine cor
poration may hold the stock and securi-
ties of any other corporation and buy and
sell the same. When holding stock, a
corporation shall have all the rights OF a
stakeholder A corporation may issue
coupon or registered bonds and "when.
ever any property shall be sold by virtue
of power of sale contained In such mort
gage any agreement in such mortgage
that such sale shall forever bar any
equity of redemption shall be legal and
binding"
NO VOTE; NO TAN
The woman suffraRists are putting their
cause In new form. They now petition
for exemption from taxation on the fol-
owing ground: "Inasmuch as taxation
without representation, is the principle
again st which the American people have
protested from the foundation Of their
government we, tax paying women of
Maine. being without representation,
most respectfully ask your honorable
body that all women In this state subject
to taxation be exempted therefrom.'
Senator Reyn introduced batch OF
these petitions which were referred TO the
Committee on taxation.
Portland signers are MIS-. Elizabeth W.
Smith, Mrs. Fannie K. Burrowss, Mrs
II. b. Tompsou, Mrs. Ada f. Simonds,
Mrs Margaret Il. W. Merrill, Mrs. Helen
Nj. Shepley, Abbie G. Leavitt, Mrs.
Justina r. Worcester, Ann A. True,
Louisa ii. Ingraham, Phebe l.. Simon
Mary A. Bradford, Mrs. Dorcas b. Don.
nell, Lila Floyd Donnell, Mary q.
Adams. Mary ]. SWEET, Elizabeth Adams
Day, Lucy b. Day, Grace W. Goodwin,
Mary g. Mcdowell, Mary X. Woodbury.,
prudis A. Brooks, Ninnifrsd l.. Nelson,
Caroline D. woodman, Mary j. East
man, Eliza A. Jack, Ida j. Fisher,
Mary Winnifred Tolford. Adelaide ID.
CULVER, Sarah S. Shaw, Elizabeth
Bruce, Hattie +. Trafton, Lavinda b.
Noyes, Emily W. Pierce, Mrs. f. D.
batss, Mrs Cora Q. Roberts, Miss lnez
A. Blanchard. Mrs. Alice f. Moody,
Airs. Clara II. b. Gould, Harriet NJ.
Lewis. Mrs. Mary K. Laughlin, Eliza
bsth NJ. Dyer, c. Armstrong, Susan I.
lis ey. e. NJ. Higgins Clarissa A.
ADAMS, Charlotte J. Thomas. Elizabeth
W. Varnum, Mary E. Sargent. PAMELA
w. Bayes, Mrs. $. E. Spring, Arabella
+. Pollister, Charlotte K. Burgess. Lydia
"a Iarrn haa ANNA ID Chairman M Il