The Montgomery advertiser., 1903-10-09

chased shall b6 in a1Isrss6scti subiscf lto. the laws of thfs State d if owned by domestic corporation. and all liens and rights of creditors shall be preserved un-
 Sec. n. Any railroad corporation.s and, any mining. manufacturing or auarryinxa 4 corporation may at any time. by means of subscription to the capital stock of any ether corporation or company. or other wise. aid such corporation or company in the construction of its railroad for the purpose of forming . connection with the railroad. or the principal. place of business for works of the. corporation furnishing the aid. or any such corporation may pur- chase at judicial sale, or otherwise, hold and use or lease any part or all of the railroad constructed by anotherS corpora ton or company. together with it's fran chises. rights and property, or may ac- quire, hold and use all or any part of the capital stock of another corporation char. tered under the laws of this State or any other State. if the railroad or railroads 90 purchased connect with, or will when completed. connect with. the railroad works, factory or plant of the purchasing or leasing corporation. either directly or by means of an intervening line: or any two or more such corporations or conn panies whose lines are. or will be, so con- nected, may enter into any arrangement for their common benefit, consistent with and calculated to promote the objects for which they were created; but no such aid shall be furnished. nor any such purchase, lease or arrangement perfected until meeting of the stockholders of each of such corporations has been called by the directors thereof. at such time and place and in such manner as they shall desik- nate. and the holders of the larger amount in value of the stock of each such cor poration represented and voting at such meeting. in person or by proxy, shall have assented thereto, and copies of the proceedings of such meetings certified by the President. or other managing head of such corporations, under the corporate seal. shall be filed in the office of the Secretary of State.
 Sec. is Railroad and mining, manufac- turing and squarrying companies may purchase, lease. or acquire in any other manner. hold and operate a railroad or railroads or canals without this State for the purpose of making extensions or con- nections, and within this State may ex- tend their roads. or may construct and operate branch roads from any point or points on their lines. Such purchase must be made by resolution of the board of directors, which must be submitted to e meeting of the stockholders. called for the purpose of its consideration; at such meeting such resolution must be approved by the vote of the holders of the larger amount In value of the stock; and if such resolution Is so approved. a copy thereof and of the proceedings of the meeting of the stockholders, certified by president and secretary, under the corporate seal. must be filed and record ed in the office of the secre- tary of State. Such extension or con- struction of such branch road must be made by resolution of the board of di- rectors. to be entered in the record of the proceedings of the corporation. desig- mating the point from which and the point to which such extension or such branch road Is to be constructed. A copy of such resolutions. certified by the president and secretary. under the corporate seal, must be filed and recorded in the ofifce of the Secretary of State, and thereafter for the purpose of making such extension or building such branch road, such corpora ton shall have all the rights. powers and immunities which are now or may here after by the laws of this State, be grant, ed to and vested in railroad corporations under and by virtue of the general incor. poration laws of this State.
 Sec H Mining. manufacturing and quarrying corporations may construct and operate to and from their mines. fur naces, mills. factories, quarries or other works, railways, tramways. canals. tun- nels, underground passages or roads. and may acquire by purchase, or otherwise, rights of way for the same, and may ac- quire by purchase or otherwise. railways. tramways, canals, tunnels, underground passages or roads. whereby connections may be made to or with their principal places of business, their mines, furnaces. Fo AkA fsxHox Ath RR1g and any public highway, turnpike; maca- damixed, plank or other graded road, or railroad aorsanavigable waters, or to or with their mines. ore beds, coking or cool ing grounds. or timber lands; or canals or aqdeduets to ef from their mills or fac tories, furnaces or Quarries or other works, or any waters or water courses. and may transport as common carriers freight and passengers on any railroad or other roads. or. any canals or aque- ducts, constructed or purchased by them, taxing reasonable compensation there for. @f e'
 Sec. i6. Street railway, gas, electric and water companies and all other cor porations, except railroads, formed for the purpose of constructing, operating or maintaining any works of internal im- provement or public utility in any county. city, town or village. may contract with the authorities of such county, city, town or village in reference to the use of the streets, public roads and other public places therein, the manner of construct ing and operating their lines of works. the public service they are to render and the compensation they are to receive for the carriage of persons and property, or for water. gas, electric light and power, or for any other commodity to be sup piled or service rendered to such county, city. town or village and the inhabitants thereof, which contracts may be altered by mutual consent; but nothing herein shall prevent any cities or towns from regulating from time to time the use of the streets and public places, or requir- ing a change in the construction of the lines and works of such corporations if necessary, whenever the public good or convenience requires
 Sec. Is. Corporations formed for the purpose of carrying on the business of banking and trust companies doing banking business, may discount bills, notes, or other evidences of debt, receive and pay out deposits. with or without in- terest, receive on special deposit money. or bullion or foreign coins, or stocks, bonds or other securities; buy and sell foreign and domestic exchanges, gold and silver bullion, foreign coins, bonds, stocks bills of exchange, notes, and other nego- table paper; lend money on personal se- curity or upon pledges Of bonds, stocks, or other negotiable securities take and receive security by mortgage or otherwise on property, real and personal, issue bills to circulate as money, but only as, and upon the terms, prescribed in Sec ton 2lS of the constitution of this State, and may become trustees Tor any pur- pose, be appointed and act as executors, oTardiana and Paa0fVaVe