The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-03-14
MINES AND MINING, STOCKS


such direction i'm regard To their pro
ceedings as shall be deemed proper
: the payments OF such stock shall b'
made TO such stakeholder. The cour
. may All any vacancy In the board OF
appraisers occurring at any time by
refusal or neglect to serve or in any
manner or for any cause. The APP
praisers shall meet at the time an6
place designated. and after being duly
sworn, honestly and faithfully to dis
charge their duties. shall estimate and
certify TO the court the value OF such
stock at the time of such objection
and demand, and deliver copy there
OF to such new corporation and anoth-
or TO such stakeholder, il demanded
the charges and expenses OF the APP
praisers, 10 be determined by the court.
shall be paid by the new corporation.
When the new corporation shall have
paid the amount of such appraisal and
such charges and expenses as directed
! by the court. such stakeholder shall
stock and in the corporate property Of
such corporation, and such stock may
be held or disposed of by such new
corporation. Instead OF applying TO
the court for the appointment o; APP
praisers, such stockholders may apply
TO the court to appraise the value of
his stock. which the court shall pro-
coed TO do after notice as aforesaid,
and in such case the appraisal may be
made by a jury on the demand of eth
er party. Such court shall render
Judgment against the consolidated
corporation upon such appraisal made
by either mode herein provided, and
such judgment shall be a lien on all
the property and assets acquired by
the consolidated corporation from the
corporation so merged. subject only to
liens against the same existing before
the consolidation. and execution may
be issued on such judgment Such APP
praisaL however made. shall be for the
full and fair value OF such stock with
out regard TO any appreciation or de-
probation thereof In consequence of
said consolidation or OF the proceed |
ings therefor. Either party to an APP
praisal by appraisers as above pro-
vided may. within ten days after the /
filing OF the appraisal in the circuit /
court, as above provided, appeal from
said appraisal to said court and there
upon re-appraisal shall be had be-
fn a.
appeal from such court shall be taken.
Any number OF stock holders i'm any
number Of corporations sought to be
consolidated may at their option,
join in one proceeding and. i'm such I
case, the appraisal shall award to each
titled, and several judgments shall, If
necessary, be rendered in favor of each
stakeholder so joining. Nothing here
in contained shall be construed To re-
peal Act. No. 255 Of the Public Acts of
1899 or Act No. 329 Of the Public Acts
OF 1905, relating to trusts and monop- u
olies I'm restraint Of trade and COM u
merce. or 10 authorize the consolida-
ton or corporations for any purpose or I
design prohibited by said acts or eth I
ar of them. &
Sec. 2S. Any corporation consolidate
I'd under this act shall have power !
subject 10 the provisions relating to
he appraisal Of stock and payment of {
appraised value, TO call in and cancel
he certificate of stock OF the several I
so consolidated and 10 i
make and issue to its stockholders new q
of stock in consolidated {
corporation in such proportions TO
ach as each shall be entitled TO-. ac-
ording to the terms of the consolida-
ion as agreed upon. and to cancel the
took of any stakeholder who shall not
eturn his stock TO be cancelled as
foresaid, within thirty days after act
Ial notice of the resolution of the cor Z
'oration for calling in such stock. or a
Who shall not return his stock after G
publication of notice OF said resolution $
nee in each week for four successive G
weeks in some daily paper published in $
he city OF Detroit, also in some paper 4
published in the Upper Peninsula, also I
n a paper published in the place where q
he principal business office of the [
Ompany is located, IL any is publish ,