Norwich bulletin., 1915-03-23
ACT INCORPORATING
 REX POWER co.
Hearing Is Placed for Thursday Be-
 fore Legislature.

REX POWER co. l Hearing Is Placed for Thursday Be- l fore Legislature.
 1 A hearing for Thursday before the | committee of the legislature has been set upon the proposed bill, incorporat- ing The Rex Power Co. The following is the text of the proposed act: Be it enacted by the Senate and | House of Representative in General l Assembly convened:
 Section 1. That c. R. Alexander, James J. Donohue, and c. E. Chap man, with such other persons as shall l be associated with them, their sue | cessors and assigns, are hereby con- 1 stituted a body polite and corporate 1 under the name of The Rex Power l company with an office at Norwich, | Connecticut, and with power to sue and be sued, complain and defend in any court, to have a common seal I which may be altered at pleasure, to | elect in such manner as it may de 1 termine all necessary officers, fix their | compensation, and define their duties and obligations, and to make bylaws, | consistent with law, for the govern | ment and regulation of it's affairs and | for the management of its property; and said corporation shall have power | to purchase, acquire, receive, hold, pos sess and enjoy and to sell, grant, lease
 convey and dispose of lands, rents, l tenements, hereditaments, mills, man. 1 ufactories and mill sites. and all kinds of electrical apparatus used for the l purpose of generating, conducting and | distributing electricity; and shall have | power to generate, transmit, sell and | deliver electricity in the manner and | with the limitations hereinafter stated | except within the territory of a com- pany now incorporated or engaged in | the business of generating and selling | electricity.
 | Sec. 2. The said The Rex Power i company shall have the right and pow 1 CT, within New London and Windham | counties, to erect it's poleS wires and | fixtures and to transmit electricity without diverting or selling the same in manner and form as provided by l law, through the territory of any com- | pany, now incorporated for the pur- pose, or engaged in the business of l selling electricity, and may sell, trans 1 init and deliver electricity to any com pany now authorized to sell electricity | to be used by said company within i it's own territory, and shall have power I to make all contracts necessary and 1 proper for it's business. But the said l The Rex Power company shall not 1 have the right to sell or distribute 1 electricity in the territory in which | the city of Norwich or the borough of 1 Jewett City or. any other city, town or borough is now authorized by law 1 to sell or distribute electricity or in l the territory of any company engaged l in the business of generating, distrib- | uting or selling electricity
 1 Sec. 3. For the purpose specified in ! section ,, said company may go on, over or through any highway or pub 1 lie grounds, and, subject to the pro l visions of chapter 219 of the general statutes and any amendments thereof | that may be made from time to time | by the general assembly, erect, lay and maintain such wires, poles, struc- | lures and fixtures as may be suited to it's purposes
 Sec. A. The capital stock of said l corporation shall be fifty thousand dol lars, and the same may be increased, from time to time. as may be found necessary, to any sum not exceeding five hundred thousand dollars; said capital stock shall be divided into shares of one hundred dollars each and l shall be issued, at not less than par, for cash.
 Sec. 5. The persons named in the first section hereof, or a majority of
 them, shall open books and receive | subscriptions to the capital stock of this corporation, at such times and places as they may appoint, and shall give such notice thereof as they shall
 deem reasonable, and shall receive subscriptions under such regulations
 as they may adopt; and in case the
 subscriptions shall exceed the amount
 of fifty thousand dollars, may reduce and apportion the same among the
 subscribers therefor.
 Sec. G.. The persons named in the first section of this resolution, or a
 majority of them. shall call the first
 meeting of the stockholders, in such
 manner, and at such time and place, as they shall determine and appoint, for the organization of the company, mess necessarily connected herewith.
 Sec. z. The government and direc-
 tfon of this corporation shall be vested in not less than three nor more than
 nine directors. who shall be chosen
 annually by the stockholders. and shall
 hold their offices for one year and un-
 til others are chosen in their stead T The said directors shall elect from
 their number a president, who shall be
 president of the company. a treasurer
 a secretary. and such other officers and
 agents as shall be necessary for the
 proper conduct of the business of this
 company.
 Sec. S. This corporation may pur-
 chase, receive and hold, in fee simple or otherwise, such real and personal property as shall be necessary in order
 to carry out advantageously the pro-
 visions of this resolution, and may sell
 and convey the same as occasion may
 require. This company shall also have
 authority to make any contracts re-
 lating to its business, may mortgage
 sell, or lease the whole or any part
 of its property, including franchises and leases, and after acquired prop
 erty.
 Sec. g. This company neither by con-
 solidation nor otherwise shall have any
 right to sell or transmit electricity out side of New London and Windham
 counties.
 | Sec. 10. The rights conferred by this
 charter cannot be exercised by said
 company by consolidation or otherwise
 outside of the counties of New Lon-
 don and Windham.
 Sec. il. Said company may issue its
 bonds to an amount not exceeding
 three-fourths of the actual value of its
 property. including real estate and