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GENERAL CORPORATIONS.

SECTION 3. This act is passed with the concurrence of twothirds of each branch of the Legislature.

Passed at Dover, March 14, 1867.

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CHAPTER 198.

WILMINGTON COAL GAS COMPANY.

10 Vol. 575. Sæc. 1. Original act, with supplements, revived.

2. Increase of capital stock.

SEC. 3. Section 10 repealed.

4. Price of gas, how regulated.
5. Publication ordered.

A Further Supplement to the act entitled, "An Act to Incorporate the

Wilmington Coal Gas Company."

10 Vol. 575.

with supple

SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met, (twothirds of each branch concurring,) That the act entitled, “An Act to incorporate the Wilmington Coal Gas Company," passed Original act, the fourth day of March in the year of our Lord one thousand ments, reeight hundred and fifty-one, and the supplements thereto, passed vived. at subsequent sessions of the General Assembly, or so much of them as is now in force and not altered, changed, or amended by this act, shall continue and be in full force, and the same is hereby extended and continued for the term of twenty years from the passage of this act, and the said corporation created or established by the said recited act and the supplements thereto, or any of them, with all the rights, powers, privileges, franchises and immunities which are now vested in the said corporation by any law of this State, are hereby continued, extended, and shall be held in full force and operation for the term of twenty years from and after the passage of this act, except so far as said recited act and the supplements thereto are changed, altered, or amended by this act.

SECTION 2. Be it further enacted, That the capital stock of the Increase of said Wilmington Coal Gas Company may be increased to a sum capital stock not exceeding four hundred thousand dollars, and the directors of said company shall have power to issue the additional stock in shares of the same par value as the shares already in existence, and to dispose of the same in such manner and at such times as

GENERAL CORPORATIONS.

Sec. 10 repealed.

Price of gas, how

.

annum.

in the discretion of said directors it may be necessary to enlarge
the operations of said company to meet the public wants.

SECTION 3. And be it further enacted, That Section 10 of the
act to which this is a further supplement be and the same is
hereby repealed.

SECTION 4. And be it further enacted, That the prices of gas baterdregu shall be so regulated as that the dividends upon the capital stock of said company shall never exceed twelve

per cent.

per SECTION 5. And be it further enacted, That this act shall be published in the laws of this State and not be excluded therefrom by virtue of any provision in the act entitled, "An Act concerning the publication of the Laws,” passed at Dover, February 17, 1866: Provided, The said company shall first pay to the Secretary of State the special tax provided for by Section 3 of Chapter 1, Part 1, Vol. XIII of the Laws of the State of Delaware.

Passed åt Dover, January 30, 1867.

Publication ordered.

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An Act to Incorporate the Delaware Gas Light Improvement Company.

Be it enacted by the Senate and House of Representatives of the
State of Delaware in General Assembly met, (two-thirds of each
branch of the Legislature concurring therein,) as follows, to wit:

SECTION 1. That James Bradford, William G. Gibbons, E. Q.
Sewall, George G. Lobdell, William G. Mendinhall, James G.
Knowles, Oborn Levis, Casper Kendall, Isaac G. Lloyd, James

Incorporation.

GENERAL CORPORATIONS.

Lawless, Job H. Jackson, Thomas W. Bowers, David Lemon, Charles F. Rudolph, William H. Billany, John H. Adams, Peter N. Brennan, Henry Pretzschner, Henry S. McComb and Charles Baird, together with such other persons as may become associ. ated with them for the object hereinafter mentioned, and their successors, be and they are hereby declared to be a body corporate under the name and style of “The Delaware Gas Light Im- Name. provement Company," and by that name shall have succession, with power to sue and be sued in all courts of law and equity, to Powers. purchase, take, hold, grant, sell, mortgage, alien and dispose of lands, tenements, hereditaments, goods, chattels and effects, to have and use a common seal, to ordain by-laws for its government and generally to exercise and enjoy all the powers, privileges and franchises incident to a corporation except banking powers.

SECTION 2. The object of this corporation shall be to manu- Purposes of facture and sell, or otherwise use or dispose of, for the benefit of corporation. the corporation, any improvement or improvements in the use of gas, and particularly a certain improvement known as the Gas Light Multiplier,” patented under the Laws of the United States by re-issued letters patent, dated the sixteenth day of October, A. D. 1866, and the said corporation shall have power to purchase, hold, exercise, sell and assign, as well any other patent right, or patent rights for improvements for the like purpose as the one before specified, and to manufacture, sell, use, or dispose of such improvements.

SECTION 3. The capital stock of said company shall be twenty- Capital stock five thousand dollars, to be divided into one thousand shares of $25,000, twenty-five dollars each: Provided, That the said company may, from time to time, by a vote of the stockholders at a meeting Right to incalled for that purpose, increase the capital stock to any amount so that it shall not at any time exceed fifty thousand dollars. Not exceed Shares of capital stock shall be personal estate, and the same shall be certified, held and assigned according to the provisions of the by-laws.

SECTION 4. Subscriptions to the capital stock shall be paid subscripin such manner, and in such installments, and at such times as tal stock. the directors shall appoint; and the same shall be liable to be forfeited for non-payment as may be provided in the by-laws.

SECTION 5. There shall be an annual meeting of stockholders Annual on the second Monday of January in every year. Special meetings of stockholders may be called by the President, in manner meetings. to be provided by the by-laws, and he shall call such meetings at the request of any two directors. At meetings of stockholders

Proceedings, all questions shall be decided by a majority of votes cast in perbedaan son or by proxy; each share of stock being entitled to one vote.

crease.

$50,000. Sharer.

tions to capi

meetings. Special

how conduc

GENERAL CORPORATIONS.

Directors to manage business.

a

Official term.

on failure to elect.

Directors before first annual meeting.

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President.

Secretary and Treasulrer.

SECTION 6. The affairs and business of the corporation shall be managed by a board of seven directors, (five of whom shall

be a quorum.,) who shall be stockholders, to be elected by the How chosen. stockholders at each annual meeting. They shall be chosen by

ballot and by a majority of the votes cast according to the pro

visions of the fifth section, and shall continue in office until the not dissolved next annual meeting, or until successors are duly chosen. Any

vacancy in the board shall be supplied by the other directors. Å failure to elect annually shall not dissolve the corporation. The directors, until the first annual meeting after the passage of this act, shall be elected at a meeting of the stockholders convened by one or more of the corporators hereinbefore mentioned ; ten days' notice of the time, place, and purposes of said meeting having been previously given in at least two newspapers published in the City of Wilmington.

SECTION 7. The directors shall elect one of their number president, whose duties shall be such as the by-laws may prescribe. The directors may also appoint a secretary and treasurer, and employ such other officers, agents and servants as may be necessary; may prescribe their duties, fix their compensation, and secure their fidelity by bond, or otherwise, as they shall judge

proper. The directors shall also keep, or cause to be kept, proper corporation. books, in which shall be regularly entered the transactions of the

corporation, which books shall at all times be subject to the in

spection of the stockholders, and the directors shall cause to be statement of exhibited to the stockholders, at their annual meetings, a state

ment of the affairs and doings of the company. No director shall have any emolument except such as may be allowed by the stockholders at their annual meeting.

SECTION 8. By-laws for the government of the corporation shall be made by the directors, and they may at any time alter, amend, or add to the same.

SECTION 9. This act shall be deemed and taken to be a public act, and the same shall be published: Provided, the said company shall first pay to the Secretary of State a special tax, provided for by Section 3, Chapter 1, part 1, Vol. XIII of the Laws of the State of Delaware; And provided, that power is hereby reserved to the General Assembly to revoke this act of incorporation.

Passed at Dover, January 30, 1867.

Books of

Annual

company.

By-Laws,

Publication.

GENERAL CORPORATIONS.

CHAPTER 200.

GERMANIA BUILDING AND LOAN ASSOCIATION.

Sec. 1. Incorporation.

Name.
Powers.
Seal.

Succession. 2. Officers.

Certain officers to be elected annually.

Sec. 2. Secretary, how elected.

Vaca acies. 3. Powers.

Limitation of property.

Banking powers not conferred. 4. Publication.

An Act to Incorporate the Germania Building and Loan Association in

the City of Wilmington.

tion.

Name.

Powers.

SECTION 1. Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met, (twothirds of each branch concurring therein,) That Henry Bleyer, George Steinicken, Maximilian L. Lichenstein, John Fehren- Incorporabach, John Griner, John Fullmer, and such other persons as now are, or may hereafter be associated with them, shall be and they are hereby created a body politic and corporate by the

a name, style, and title of "The Germania Building and Loan Association," for the purpose of accumulating a fund from monthly contributions and fines, premiums on loans, and interest on investments, for the benefit of its members; and they and their successors are hereby ordained and declared a body politic and corporate, in fact and in law, and by the title aforesaid shall be able and capable, in law, to sue and be sued, plead and be impleaded in any courts of law or equity in this State, and elsewhere, in all manner of suits, complaints, pleas, causes, matters, and demands whatsoever, with all the legal incidents of a corporation aggregate; and the said corporation may have and use a common seal, and at their pleasure alter and renew the same; and by the title aforesaid shall have continuance and succession for a term not exceeding twenty years from and after the passage of this act.

SECTION 2. And be it further enacted, That the affairs of the said corporation shall be conducted by a president, vice-president, treasurer, and secretary, and fifteen managers, who shall constitute a board of directors, seven of whom shall constitute quorum. The president, vice-president, treasurer, and managers shall be elected by the shareholders, on the first Thursday in the month of May, annually, and the secretary shall be elected an- Secretary: nually by the board of directors. The board shall have power to fill all vacancies that may occur in their own body during the year.

SECTION 3. And be it further enacted, that the said corporation Powers. shall, by the name and title aforesaid, be able and capable of

Seal.

Succession.

Officers,

a

How elected.

.

Vacancies.

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