annexed, and upon the increase of the capital stock or indebtedness of such corporation, made pursuant thereto, it shall be the duty of the president or treasurer of such corporation, within thirty days thereafter, to make a return to the secretary of the Commonwealth, under oath, of the amount of such increase, and in case of neglect or omission so to do such corporation shall be subject to a penalty of five thousand dollars, which penalty shall be collected on an account settled by the auditor-general and State treasurer as accounts for taxes due the Commonwealth are settled and collected. And the secretary of the Commonwealth shall cause said return to be recorded in a book kept for that purpose, and furnish a certified copy of the same to the auditor-general.

SEC. 6. That every corporation shall within sixty days, when requested by the auditor-general, render to him a report, under the oath of its president or treasurer, of the amount of capital stock or bond indebtedness issued pursuant to the provisions of this act, showing, in case of stock, to whom issued and the price or consideration received therefor, amount received, and from whom in money, in labor, and in other property, and, if so requested, a detailed statement of the character, value, and situation of the property so received, and in case of refusal or neglect so to do, shall be subject to a penalty of five thousand dollars for each and every thirty days thereafter such corporation shall refuse or neglect to make such report, which penalty or penalties shall be collected on an account or accounts settled from time to time by the auditor-general and State treasurer as accounts for taxes due the Commonwealth are settled and collected.

SEC. 7. That every company, except railroad, canal, turnpike, bridge, or cemetery companies, and companies incorporated for literary, charitable, or religious purposes, which shall increase its capital stock under the provisions of this act, shall pay to the State treasurer, for the use of the Commonwealth, a bonus of one-quarter of one per centum upon the amount of said increase, in two installments, the first to be due upon the filing of the certificate required by the preceding section of this act to be filed in the office of the secretary of the Commonwealth, and the second installment one year

thereafter: Provided, That nothing in this act shall be construed to reduce the amount of bonus to be paid by any company having in its charter a special provision requiring the payment of a bonus at a higher rate than one-quarter of one per centum.

SEC. 8. All acts and parts of acts inconsistent with the provisions of this act are hereby repealed.

AN ACT TO ENABLE THE OFFICERS OF DISSOLVED CORPORATIONS TO CONVEY REAL ESTATE HELD BY SUCH CORPORATIONS.

Approved 20th April, 1874. (P. L., 1874, page 110.)

SECTION 1. That whensoever it has occurred or shall happen that any corporation has been or shall be dissolved, owning lands or other real estate in this Commonwealth at the time of dissolution, whether by decree of court or expiration of time or otherwise, it shall be lawful for the officers last in office, if in life, or any trustee to be appointed for the purpose by the court of common pleas of the county where the real estate is or shall be located, on the petition to such court by majority in amount and value of all the shareholders or corporators, and upon giving security in double the probable value of the real estate to be sold (said security to be approved by the court), together with such notice as the court may require to be given to all not represented by petition or answer, by actual service or advertisement, to make conveyance of such real estate in absolute fee simple, under such decree as the said court may make for the sale, either public or private; and the proceeds of sale shall be applied or distributed by the party or parties so making sale, as part of the effects of the defunct corporation, to creditors or shareholders, as the said court may adjudge them to be entitled. And if such corporation had made sale of real estate and had not conveyed the same, such court may decree conveyance in specific execution of such contract in manner aforesaid.

AN ACT TO PROHIBIT FOREIGN CORPORATIONS from DOING BUSINESS IN PENNSYLVANIA WITHOUT HAVING KNOWN PLACES OF BUSINESS AND AUTHORIZED AGENTS.

Approved 22d April, 1874. (P. L., 1874, page 108.)

SECTION 1. That from and after the passage of this act no foreign corporation shall do any business in this Commonwealth until said corporation shall have established an office or offices and appointed an agent or agents for the transaction of its business therein.

SEC. 2. It shall not be lawful for any such corporation to do any business in this Commonwealth until it shall have filed in the office of the secretary of the Commonwealth a statement, under the seal of said corporation and signed by the president or secretary thereof, showing the title and object of said corporation, the location of its office or offices, and the name or names of its authorized agent or agents therein; and the certificate of the secretary of the Commonwealth, under the seal of the Commonwealth, of the filing of such statement, shall be preserved for public inspection by each of said agents in each and every of said offices.

SEC. 3. Any person or persons, agent, officer, or employee, of any such foreign corporation who shall transact any business within this Commonwealth for any such foreign corporation without the provisions of this act being complied with shall be guilty of a misdemeanor, and upon conviction thereof shall be punished by imprisonment not exceeding thirty days and by fine not exceeding one thousand dollars, or either, at the discretion of the court trying the same.

AN ACT FOR THE TAXATION OF CORPORATIONS.

Approved 24th April, 1874. (P. L., 1874, page 68.)

SECTION I. That hereafter no institution or company incorporated by or under any law of this Commonwealth, general or special, or of any other State and authorized to do business in this Commonwealth, shall go into operation without first

having the name of the institution or company, the date of incorporation, the act of assembly under which incorporated, the place of business, the amount of capital paid in, and the names of the president and treasurer of the same, registered in the office of the auditor-general. And any such institution or company which shall neglect or refuse to comply with the provisions of this section shall be subject to a penalty of five hundred dollars, which penalty shall be collected on an account settled by the auditor-general and State treasurer in the same manner as taxes on stock are settled and collected. (Supplied and repealed by sections 1 and 18 of act of June 7th, 1879.)

SEC. 2. That hereafter it shall be the duty of the president or treasurer of every company now or hereafter incorporated by or under any law of this Commonwealth, except banks and saving institutions, and of every company now or hereafter incorporated by any other State and doing business in this Commonwealth, which is taxable under the laws of this State, to make report in writing to the auditor-general annually, in the month of November, stating specifically the amount of capital paid in, the date, amount, and rate per centum of each and every dividend declared by their respective corporations during the year ending with the first Monday of said month; and in all cases where any such company shall fail to make and declare any dividend upon either its common or preferred stock during the year ending as aforesaid, the treasurer and secretary thereof, after being duly sworn or affirmed to do and perform the same with fidelity according to the best of their knowledge and belief, shall, between the first and fifteenth days of November of each year in which no dividend has been declared as aforesaid, estimate and appraise the capital stock of such company upon which no dividend has been made or declared at its value, not less than the average price which said stock sold for during said year, and when the same shall have been so truly estimated and appraised, they shall forthwith forward to the auditor-general a certificate thereof, accompanied by a copy of their said oath or affirmation, by them signed, and attested by the magistrate or other person qualified to administer the same: Provided, That if the auditor

general or State treasurer, or either of them, is not satisfied with the valuation so made and returned, they are hereby authorized and empowered to make a valuation thereof, and to settle an account upon the valuation so by them made, for the taxes, penalties, and interest due Commonwealth thereon; and any corporation dissatisfied with such settlement may appeal therefrom, as is now provided by law for appeals, from the settlement of accounts by the auditor-general and State

treasurer.

(Supplied and repealed by sections 2 and 8 of act of March 20th, 1877, and the latter supplied and repealed by sections 2 and 18 of act of June 7th, 1879.)

SEC. 3. That if the said officers of any such company or corporation shall neglect or refuse to furnish the auditorgeneral, on or before the thirty-first day of December in each and every year, with the report aforesaid or the report and appraisement, as the case may be, as required by the second section of this act, it shall be the duty of the accounting officers of the Commonwealth to add ten per centum to the tax of said corporation for each and every year for which such report or report and appraisement were not so furnished, which percentage shall be settled and collected with the said tax in the usual manner of settling accounts and collecting such taxes: Provided, That if said officers of any such company or corporation shall intentionally fail to comply with the provisions of the second section of this act for three successive years, the auditor-general shall report the fact to the governor, who, if he shall be made satisfied such failure was intentional, shall thereupon by proclamation declare the charter of said company or corporation forfeited and its chartered privileges at an end, whereupon the same shall cease, end, and be determined.

(Supplied and repealed by sections 2 and 8 of act of March 20th, 1877, and the latter supplied and repealed by sections 3 and 18 of act of June 7th, 1879.)

SEC. 4. That every railroad company, canal company, steamboat company, slack-water navigation company, transportation company, street passenger railway company, and every other company, now or hereafter incorporated by or under any law of this Commonwealth, or now or hereafter incorporated by