The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-04-24

Stliu Otl IpllNICll IIeTGOI snail De pun
ished by fine of not less than twenty
five (25) dollars or more than one hun
dred 10O) dollars. or by Imprisonment
for not less than thirty 900 days or more
than sixty 600 days; and all railroad or
railway corporations operating lines or
railways or railroads. in whole or in part
IN this state. shall be liable for all in
jurieS to said engineers or firemen re-
sulting from their being required to labor
contrary to the provisions of section one
a. of this act.
Sec. 8. All acts and parts of acts incon-
sistent with the provisions of this act are
hereby renealed.
Sec. 4. This act shall be in force upon
and after it's passage.
Approved March -, 1909.
CHAPTER 7O-H. F. NO. POI.
AN ACT to amend sections two (2) and
five 90 of chapter two hundred GOO of
the General Laws of 1899. being an act
entitled An act to amend chapter one
hundred and seven 900 of the General
Laws of 1888. as amended by chapter
three 90 of the General Laws of 1886
and by chapter two hundred thirty-four
(23D of the General Laws of 1889. re-
lating to annuity, safe deposit and trust
companies
Be 1t enacted by the legislature of the
State of Minnesota
Section l. That section four a. of
chapter one hundred and seven 900 of
and eighty-three QSS3), as amended by
chapter three 90 of the General Laws of
eighteen hundred and eighty-fve QSS5)
and by chapter two hundred and thirty
four (234) of the General Laws of eight
cen hundred and eighty-nine QSS9) and
by section two (2) of chapter two hundred
(2OO of the General Laws of eighteen
hundred and ninety-nine QS99 be and
the same hereby is amended, so az to
read as follows:
Section f. No such corporation hereafter
organized shall be authorized to transact
any business or exercise any powers as
such. until two hundred thousand GOO. 900
dollars of its capital stock shall have
been actually paid in, of which not less
than fifty thousand 100000 dollars shall
be invested and deposited as hereinafter
provided. Said fifty thousand (jO.OOO)
dollars shall be invested in the bonds of
the United States, or in bonds or obliga-
lions of the State of Minnesota, or in the
bonds of other states, or in the bonds or
obligations of the City of ST. Paul Min
neapolis. or Duluth, or in the bonds or
obligations of any incorporated city or
village OF this state, containing a popula-
ton of not less than three thousand
(3,OOO) souls. as determined by the then
next preceding national or state census,
which bonds or obligations have not been
issued as a bonus for. or purchase of or
subscription to any railroad or other Dri-
Yate enterprise. and whose total bonded
Indebtedness does not exceed ten 00) per
centum of the then assessed valuation of
the real and personal property of said
city or village; or in the bonds or Obliea-
ions of any organized county in this
otdtC COHtdIllIS d pOpuldllOn OF not less
than ten thousand 10000 souls. as de-
termined by the then last census as afOre-
said, which bonds have not been issued
Tor any OF the purposes aforesaid and
whose total bonded Indebtedness does not
exceed ten Q0) per centum of the then
assessed valuation of the real and per-
Sonal porperty of such county; or in the
bonds or obligations of any legally or
ganlZed school district. whose total in
debtednesS does not exceed ten OOl per
centum of the then assessed VaIua ton of
the real and personal property, of such
district; or in the bonds or Obliga tons of
any city of the United States containing
a population of not less than TWENTY-FIVE
thousand 23,0O0) souls. as determined by
the then next preceding national or state
census, which bOnns or obliga atoms have
not been issued as a bonus for. or pur-
chase Of or subscription 10 any railroad
or otner private enterprise and whose
bonded Indebtedness does not exceed ten
Cl0) per centum of the then assessed
valuation of the real and personal prop
erty of such city; or in the mortgage
oonds of any railroad company, which
are secured by first lien, or issued TO
replace and retire mortgage bonds which
are secured by a first lien, upon a rail
road within the United States, provided
said railroad company has earned and
paid regular dividends of not less than
four per centum per annum on its entire
capital stock for at least three 81 years
next preceding such investment which
shall have the approval of the public ex-
aminer. Inc guaranty fund of any such
corporation heretofore organized. NAV
consist of such securities as are herein
before authorized, or, of such as are au-
thorized under the existing law. And
any corporation which has been hereto
fore organized and qualified to do bust
ness under this act, that shall deposit
with the state auditor as its required
deposit bonds of the character aforesaid.
of the par value of not less than fifty
thousand 100000 dollars, nor less than
one-fourth Cd of its outstanding paid
capital stock, shall be allowed at anv
time thereafter to withdraw its other
deposits or securities with the state audi
tor so that the whole deposits of such
corporation shall amount to not less than
fifty, thousand 10000 dollars in such
bonds, nor less than one-fourth "a of it's
outstanding paid capital stock. And any
corpora ton which has been heretofore, or
that shall hereafter be, organized and
qualified to do business under this act
shall be allowed at any time hereafter to
increase its deposits of securities with the
state auditor, so that the whole deposit
of such corporation shall amount to two
hundred thousand 00,000) dollars such
excess of deposits over and above the
amount required by this act to be kept
on deposit nay be in bonds of the char
acter aforesaid; or in bonds or promis-
sorry notes secured by first Qst mortgage
or deeds of trust, upon unncumbered
real estate worth double the amounts of
the obligati tons so secured.
Sec. 2. That section ten (1O) of chapter
one hundred and seven 900 of the Cen
eral Laws of eighteen hundred and
eighty-three QSS3), as amended by chap
ter three 90 of the General Laws of
and By chapter two hundred and thirty