Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1911-01-26
LEGISLATIVE MATTERS.
Continued from Page one.)

NAV be divided into preferred ant
| common stock. in such ratio and witl
such preferences as may be dcterrnin-
| ed by the stockholders.
Section I'm case Of an increase il
the capital stock of the corporation
as provided in the preceding section
| said corporation shall file n certificate
thereof in the Office of the Secretary
of state together with such aditiona
fee or franchise tax as provided by
the general law of the state. ard sucf
increase in stock shall not be valid
until such certificate is filed and sucl
fee or taxes paid. The nam" of said
corporation may be changed by ma
jCrity vote of its stockholders at any
time to any name not in use by any
other corporation in Maine. y certiti-
cate of such change of name and of
the vote authorizing it shall be filed
with the Secretary of State.
Section 4--Said corporation may Dor
row money, issue it's bonds therefor
end uron vote of its stockholders mort
gage its property, rights and fran
chises to secure the payment of such
bonds to an amount not exceeding the
Section J-The persons named IN Sec
ton enc OF this act shall receive sub
scriptiors for the capital stock Of said
GO, pcration from such persons rs they
may solicit and shall, after such eapi-
tai stock has been subscribed. give
notice To the stockholders t. Eiect Tor
tie election of directors and OF the or
ga.lization of the corporation.
Section 6--Thc management OF the
affairs of the corporation shall be
vested in a board of disectors to con-
sist of not hess than five members emo
sen from the stockholders, and a ma
jority of such board of directors shaH
constitute a quorum for the traltsac-
ton of its business.
Section Said corporation shall not
organize on be empowered to transact
business until $4,000 of it's capital stock
has been subscribed and % per cent ot
it has been paid in.
section S-Said corporation shall have
the power and authority to construct
maintain and operate dams across the
Knnnehcc river in the State of Maine
at any time between the end of Indian
Pond, so-called. and the junction OF
The East Eranch of the Kcnnebec with
peav River together with all necessary
wing walls, canals, Hues, tuhheiS'
gates. power houses and necessary
appurtenances, ali for the purpose or
power and creating storage
on said Kennebec River. The said
companv shall have the right to use
the power thus generated for manu-
purposes, and shall! rave al
the powers privileges and immunity ol
corporations orSahizeu
under the general law of this state
1t may develop electricity for It's own
use or for sale and may sell power TOT
any purpose whatsoever under Such
and restrictions as are I'M
poscd by the general laws of Maine.
The said comrany shall have the right
10 enter into or execute contracts
agreements or covenants in relation to
the object of the corporation aitu 70
enforce the same, and to be capapie Oh
taking or holding or leas-
ing any estate real or personal, neces-
sarv for said corporation to acquire or
hold in order t. carry out the purposes
defined by this act. SAID corporation
r72y buy and sell all articles necessary
fer carrying on the business autnor-
zel by this charter
Section 9.--The corporation is hereby
eni powered to raise the water IN any
great pond. and to flow and to cover
With water any state or public lot ana
;Fall have all the rights of fioWage
with regard 10 private land which are
rrantCd to any manufacturing COM
oany under the provision OF Chapter
4 of the Revised Statutes.
Section 10-Damage for flowing prl-
vata land shall be settled in accord
ance with the provisions of said Chap
ter 94 The State land agent Is here
by authorized to agree with this cor
poration as TO the damages for the
flowing of any public lot and in the
event of failure to SO agree the dam
ages shall be adjusted in accordance
with the provisions of said Chapter
81.
Section l1-Said corporation in the
exercise of it's powers granted by SAID
may hold the liow OF said river
IN storage as may re necessary for the
Development and use OF
such water power. 1t is, however.
specifically provided that except at
times when water is needed tor driving
logs OF which notice will be given by
til" kcnnehec Log Driving Co., the
Kenuebec Dam and Reservoir Co. Shall
operate its plant in such a manner as
not To disturb the continuous and uni
form flow of the river to any existing
water power plants on said kenncbec
river, and shah not reduce said flow
10 said existing water power plants
below 400 cubic feet per second,
whenever the discharge Of water
through the dam at the outlets of
Moosehead Lake equals or eXcels that
amount.
Section 12-'rhis corporation shall
always maintain to the log ways in its
dam convenient and free passag
for logs, wood AID other lumber and d
suitable log way with proper gate
for save and convenient passage oil
| logs. wood and other lumber shall be
CONSTRUCTED in each dam.
Section 13-This corporation shall mo-