The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-03-10

s. B. No. 2S5--An act to amend Section
OF an act to amend Section of an act au-
thorizing and empowering manufacturing,
mining and other companies, which nave
been or which may hereafter be organized
and Incorporated under any law or this
State, to issue shares of preferred stock In
such company. Amendment provides that
any such company, whether heretofore or
hereafter organized, desiring TO create and
Issue shares of preferred stock in such
company. may do so at any annual, regu-
lar or special meeting of its stockholders,
by the vote OF the holders of three-fourths
of its common stock. and any company
may authorize and empower It's board OF
directors to dispose of and issue such pre-
ferred stock upon such terms and conditions
said board of directors may deem best,
or as such company may prescribe; and
issuance and the disposition made Of such
preferred stock by said directors shall in
all things be binding and conclusive upon
such company. The company must file
with the secretary of state its certificate of
the issuance OF preferred stock within thir-
~ days after such increase is authorized.
Such preferred stock shall be subject to
redemption at not less than part at such
time or times and upon such terms and con-
ditions as shall be expressed in the certifi-
Gates thereof, and the holders OF such pre-
ferred stock shall be entitled to receive and
the said company shall be bound to pay
thereon such quarterly, semi-annual or an
nual sum or dividend as may be expressed
in the certificates. but not to exceed in all
per cent. per annum, before any dividend
shall be set aside or paid on common stock
of such company. and in no event shall
the holders OF such preferred stock be in
dividually or personally liable for the debts
other liabilities of such company.
>. Il. No. 326-An act to amend Section
OF an act TO require every foreign corpora
ton doing business in this State to have a
public office place in this State at which
to transact its business. Amendment in
creases the minimum fee for such COM
panieS Incorporating under the laws of Indi-
ana from SO to So
II. 3. No. 353-An act establishing and
limiting certain rights of individuals own
ing telephone lines and of companies Or
ganiZed for the purpose OF constructing,
operating and maintaining telephone lines.
The act gives authority to corporations or
individuals to set and maintain poles, etc,
upon, along under and across any Of the
public highways and waters of this State
outside of cities and Incorporated towns.
8. B. No. 357-Amends Section Of an act
deelaratory of the meaning and effect of
the word mining as used in Chapter 50
OF the Revised Statutes of Indiana. Amend
ment provides that the capital stock of any
company. corporation or association to car
ry on exclusively the business of mining,
drilling. sinking and operating wells for
petroleum and natural gas selling the
same manufacturing petroleum and
other minerals into gas for fuel and light.
which company. corporation or association
IL or shall hereafter be Incorporated under
said Chapter 50 of the Revised Statutes
Of Indiana shall not exceed s2.0O0,000.