« ПретходнаНастави »
valid, til $80,000
convert bonds into shares.
three hundred and fifty thousand dollars, and to issue bonds
gage their rond, therefor, in sums of not less than one hundred dollars each, &c., to trustees. payable in ten years, with interest semi-annually, and, for the purpose of securing the payment thereof, to mortgage their road, equipment and franchise, and any of their property, real or personal, to three trustees, such as the bondholders shall, by a majority in interest, elect, at a meeting of such bond-holders called for such purpose.
SECTION 2. No such mortgage shall be valid, until bonds Mortgage not to the amount of eighty thousand dollars shall have been shall have been disposed of, nor until every creditor of said company shall distinge cof, nor have had opportunity to take bonds, equal in amount to the company's indebtedness to him, in payment of his debt; such opportunity to be given by a public notice in two of the newspapers of the city of Salem, inviting such creditors to take such bonds for said purpose.
SECTION 3. No bond shall be disposed of for less than its No bond to nominal value; and any bond-holder may, at any time nominal value. before the same are payable, convert his bonds into shares in Bond-holdersmay the capital stock of the said company, at par.
SECTION 4. This act shall not be construed to impair, or This act not to legalize, or in any manner affect, any mortgage which may vious mortgage. at any time heretofore have been made by the said company.
SECTION 5. It shall be the duty of the trustees aforesaid How the trustees to appropriate the money that shall be received from the the money. bonds hereby authorized to be issued, first, to the payment of all claims for land damages against said company, whether reduced to a judgment or not; second, to the payment of the expenses incurred in the construction of the second track between Danvers and Salem, and the depot buildings now being erected in Salem ; third, to the payment of the mortgages now existing upon said road, in the order of the priority of their dates; and then to the payment of all other debts of said corporation, till they shall all be paid : pro- Proviso. vided, however, that if any creditor, holding evidence of debt not yet matured, shall refuse to receive payment therefor when it shall be tendered, the trustees in such case shall reserve in their hands an amount of bonds equal to such indebtment, and shall then be exempted from the restrictions of this section.
May 24, 1851. [1852, 32, 305.]
Ax Act to incorporate the New England Ice Company.
Chap 344 Be it enacted, &c., as follows :
SECTION 1. Marcus A. Metcalf, Otis H. Weed, John Corporators. Sherburne, their associates and successors, are hereby made a corporation, by the name of the New England Ice Company, in Boston, for the purpose of cutting, storing, trans- Purpose.
porting, and vending ice, and for this purpose they shall have all the powers and privileges, and be subject to all the duties, liabilities, and restrictions, set forth in the thirty
eighth and forty-fourth chapters of the Revised Statutes. Capital stock. SECTION 2. The capital stock of the said corporation
shall not exceed sixty thousand dollars, and the same may be invested and held in such real and personal estate as shall
be necessary and convenient for carrying on the business of No shares to be the said corporation ; and no shares in the capital stock of
shall be issued for a less sum or amount, to be actually paid in on each, than the par value of the shares which shall be first issued.
May 24, 1851.
issued at less than par value.
[1826, 103; 1841, 104.] Chap. 345 An Act authorizing the County Commissioners of the County of Essex
to locate a way over Parker River. Be it enacted, 8c., as follows : Way and bridge SECTION 1. The county commissioners of the county of provided for in Essex are hereby authorized and empowered to locate a way .
and construct a bridge over Parker River, in the town of Newbury, in the said county, at or near where Parker River bridge, so called, lately stood; the expense of the said location and construction to be assessed upon such parties as they may have a right to direct to pay the same.
SECTION 2. The Commonwealth hereby relinquishes all surrenders certain rights to the right surrendered or to be surrendered to it by the county of Essex. stockholders of the said Parker River Bridge Corporation
in the property in the said bridge, to the county of Essex, for the purpose of enabling the county commissioners aforesaid to repair or reconstruct the said bridge at a less expense than they otherwise could do.
SECTION 3. The inhabitants of the town of Newbury shall, if the said bridge be repaired or reconstructed by order of the said county commissioners, be authorized to collect and receive the same tolls thereon as were granted by law to the proprietors of Parker River Bridge before its surrender to the Commonwealth by said corporation, for the term of ten years from the time said bridge shall be rebuilt as aforesaid.
May 24, 1851. Chap. 347
An Act to incorporate the Trustees of the Atkinson School Fund.
Be it enacted, 8c., as follows : Corporators. SECTION 1. Josiah Little, Andrew W. Miltimore, and
David Brown, and their successors, are hereby made a corporation, by the name of the Trustees of the Atkinson School Fund, to be established in the city of Newburyport, with all the powers and privileges, and subject to all the restrictions and limitations set forth in the forty-fourth chapter of the
Powers and duties.
Revised Statutes, with the liberty of holding and managing May hold estates real and personal estate, the net income of which shall not $1,000 income for exceed one thousand dollars, to be applied exclusively to the purpose of education, in conformity with the provisions of the will of Moses Atkinson, late of Newbury, deceased, and in that part of the said city of Newburyport which was heretofore the second school district in said Newbury.
SECTION 2. The treasurer of said trustees shall give Trensurer shall bond to their satisfaction, for the security of all moneys, papers, and funds belonging to said trust, which may come to his hands, and for the faithful discharge of all the duties of his office.
SECTION 3. The mayor and aldermen of the city of New- Mayor and alderburyport shall be the visitors of said fund, and see to the itors, and have rightful application of it, according to the provisions of this power to remove act; and they shall have the power of removing any of said trustees, for good cause, and vacancies occurring therein may be filled by the surviving members, subject to the approval or rejection of said mayor and aldermen.
SECTION 4. This act shall take effect from and after its passage.
May 24, 1851.
1 8 5 2.
[Special Laws, vol. 2, p. 421.]
That the Boston Dispensary be, and it hereby is, author- May make purized and allowed to make purchases, and to receive grants real and personal and donations of real and personal estates, and to apply the estate. proceeds thereof in such manner as in the judgment of the proceso apply managers of said dispensary shall appear hest calculated to promote the comfort of suffering applicants for food, fuel, clothing, medical assistance, or any other kind of relief provided, that the annual income of the said real and per- Proviso. sonal estate shall not exceed the sum of five thousand dol- Income not to exlars, in addition to the income of the property which the
ceed $5,000, &c. said dispensary were authorized to hold by their act of incorporation.
January 30, 1852. (1859, 34.]
An Act to incorporate the South Boston Samaritan Society. Be it enacted, &c., as follows :
SECTION 1. Sarah Park, Eunice Safford, Helen M. South- Corporators ard, their associates and successors, are hereby made a
corporation by the name of the South Boston Samaritan Purpose Societs, in the city of Boston, for the purpose of relieving
the wants and improring the condition of the poor, with all the powers and privileges, and subject to all the duties, liabilities, and restrictions set forth in the thirty-eighth and forty-fourth chapters of the Revised Statutes.
SECTION 2. The said corporation, for the purpose aforeReal and per said, may hold real and personal estates to an amount not sonal estate exceeding ten thousand dollars.
February 6, 1852 Chap. 5. An Act to incorporate the Paper Manufacturers' Mutual Insurance
Company. Be it enacted, ác., as follows : Corporators. SECTION 1. Thomas Colt, Charles M. Owen, Harrison
Garfield, their associates and successors, are hereby made a Name changed, corporation by the name of the Paper Manufacturers' Mutual 1852, 82
Insurance Company, to be established in Pittsfield for the term of twenty-eight years, for the purpose of insuring dwelling-houses and other buildings, and personal property,
against loss by fire, with all the powers and privileges, and Powers and du- subject to all the duties, liabilities, and restrictions set forth
in the thirty-seventh and forty-fourth chapters of the Rerised Statutes, and in all subsequent acts relating to mutual
insurance companies. When to insure. SECTION 2. On receiving from the subscribers thereto a
capital of one hundred thousand dollars, said company may also insure against losses by fire and against maritime losses, otherwise than on the mutual principle, with all the powers and privileges, and subject to all the duties, liabilities, and restrictions set forth in the thirty-seventh chapter of the Revised Statutes, and in subsequent acts relating to insurance companies : provided, that no shares in said capital shall be issued for a less sum or amount, to be paid in on each, than the par value of the shares first issued.
SECTION 3. This act shall take effect from and after its passage.
February 10, 1832. [1852, 82.]
[1829, 6; 1847, 1, 65.] An Act to incorporate the Hamilton Mutual Insurance Company. Be it enacted, 8c., as follows :
SECTION 1. The members of the Bowditch Mutual Fire Insurance Company, and of the Essex Mutual Fire Insurance Company, both established in Salem, and the members of the Lawrence Mutual Fire Insurance Company, established in Lawrence, are hereby made a corporation by the name of the Hamilton Mutual Insurance Company, in Salem, for the term of twenty-eight years, for the purpose of insuring
dwelling-houses and other buildings, and personal property, against loss by fire, with all the powers and privileges, and Powers and dasubject to all the duties, liabilities, and restrictions set forth in the thirty-seventh and forty-fourth chapters of the Revised Statutes, and in all subsequent acts relating to mutual fire insurance companies: provided, that said Bowditch Mutual Fire Insurance Company, said Essex Mutual Fire Insurance Company, and said Lawrence Mutual Fire Insurance Company, shall respectively continue to exist as corporations for the term of two years from the passage of this act, for the purpose of closing their affairs: and also prorided, that this Proviso. act shall not affect the legal rights of any person.
SECTION 2. This act shall not take effect until it shall be When to take accepted by the members of said corporations, respectively, at meetings called for that purpose. February 10, 1852.
once in five years.
(1846, 95 ; 1817, 198; 1848, 39 ; 1850, 15.] As Act in further addition to an Act to establish the City of Roxbury. Chap. 7. Be it enacted, &c., as follows :
SECTION 1. The number of wards of said city shall be Number of five, and each ward, respectively, shall embrace the same territory as at present, unless altered as hereinafter provided. It shall be the duty of the city council once in five years to – to be revised revise, and if it be needful, to alter said wards in such manner as to preserve, as nearly as may be, an equal number of voters in each ward.
SECTION 2. The second section of the said act entitled Previous act ** An Act to establish the City of Roxbury,” is hereby so far amended, that from and after the election of the five additional common councilmen for the current municipal year, Common council. whose election is hereinafter provided for, the council called the common council shall consist of twenty.
SECTION 3. The mayor and eight aldermen, one alder- Mayor and alderman to be selected from each ward, and three aldermen sen. from the city at large, shall be elected annually by the qual- how chosen.
Common council, ified voters of the city at large voting in their respective Residence. wards, and four common councilmen shall be elected annually from and by the voters of each ward, who shall be residents of the wards in which they are elected ; all of said officers shall be chosen by ballot, and shall hold their offices Term of office, for one year from the first Monday of January, and the and time of en: mayor until another shall be elected and qualified in his tering upon duplace; all of said officers shall be elected on the second Monday of December, annually, and shall enter upon the duties of their respective offices on the first Monday of January each year.