CHAP. 123 Chapter 123. An Act to authorize the extension of the Old Town Street Railway. Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: Old Town Street Ry., authorized to extend line Bradley. The Old Town Street Railway is hereby authorized to extend its lines of railway from some point in the town of into Milford and Old Town to and through the towns of Milford and Bradley, and to enjoy all the rights and privileges and subject to all the conditions and restrictions in all respects as is provided in the original charter. Approved February 27, 1891. Chapter 124. An Act to regulate the taking of fish from Lower Kezar Pond, Fryeburg, Oxford county, and the tributaries connecting therewith. Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: Lower Kezar SECT. 1. All persons are forbidden fishing for, or taking Taking of fish in black bass, pickerel, or any other fish from the waters of Lower Kezar pond, or its tributaries, in Fryeburg, Oxford county, Maine, for the purpose of selling the same. pond for purposes of selling same, prohibited. SECT. 2. No person shall take or have in his possession, Penalty, for at any one time, fish taken from said pond, exceeding twentyfive pounds, in all, nor shall any fish be transported except in possession of the owner thereof, under a penalty of twenty dollars for the offense, and one dollar for each pound of fish so taken, or in possession, or transportation, in excess of twenty-five pounds, in all, of such fish transported in violation of this act. Whoever has in possession, at any one time, more than twenty-five pounds in all of such fish, shall be deemed to have taken them in violation of this section, and such fish may be seized on complaint and forfeited to the prosecutor. SECT. 3. The fines and penalties provided by this act, may be recovered before any trial justice in Oxford county, Maine, one-half to the prosecutor, and one-half to the county of Oxford. Approved February 27, 1891. violation. Fines, how recovered and disposed of. CHAP. 125 Taking of salmon and trout in Island pond, prohibited. Penalty for violation. Chapter 125. An Act to prohibit the taking of land-locked salmon and trout from Island Pond in the towns of Waterford and Harrison. Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: SECT. 1. All persons are forbidden fishing for, or taking in any manner, any land-locked salmon or trout from Island pond and its tributaries, in the towns of Waterford in the county of Oxford and Harrison in the county of Cumberland, for the period of five years. SECT. 2. Whoever violates the provisions of this act, shall be liable to a penalty of five dollars for each and every land-locked salmon or trout so taken, to be recovered on complaint before any trial justice in either of said counties, one-half to the complainant and one-half to the county where the offense is committed. SECT. 3. This act shall take effect when approved. Approved February 27, 1891. Corporators. -corporate name. -authorized to build and equip Chapter 126. An Act to incorporate the Aroostook Construction Company. Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: SECT. 1. Albert A. Burleigh, James Frank Holland, Charles E. F. Stetson, Hudson T. Frisbie, Charles P. Tenney, Walter Mansur, George B. Dunn, Willis I. Shaw, and their associates, successors and assigns, are hereby made a corporation by the name of the Aroostook Construction Company, for the purpose of carrying on the business of building, constructing and equipping lines of railroad, with the right to lines of cod, operate the road so built and constructed, so long as may be found necessary for this company so to do, under the terms. and conditions contained in their respective charters. Said corporation shall have the right to purchase, manufacture and deal in all kinds of machinery, materials and appliances deemed necessary or proper for the construction, equipment. and operation of railroads, together with all patents, inventions and licenses appertaining to the same, with power to CHAP. 127 corporations. hold by purchase, or may otherwise acquire the bonds, stocks, securities and other property of railroads constructed or equipped by this company. Said corporation may purchase may hold or take and hold the stock and bonds of any other company as collateral security for any debts due this corporation, and may borrow or raise money from time to time, upon mortgage of any of its property, or may issue its notes, bonds or issue bonds. other securities for such amount and upon such terms as to time and rate of interest, as may be deemed necessary for the purposes of the corporation, and they may invest any property of this corporation in trustees for any purpose and in any manner whatever that will further the objects of its incorporation. SECT. 2. The capital stock of said corporation shall be Capital stock. fifty thousand dollars, divided into shares of one hundred dollars each. The capital stock of the corporation may from time to time, by vote of the directors, be increased to one million dollars. how called. SECT. 3. The first meeting for the purpose of organization, First meeting, may be called by either of the persons hercin named, by giving written notice to the others seven days, at least, before the day appointed for such meeting. SECT. 4. This act shall take effect when approved. Approved February 28, 1891 Chapter 127. An Act to incorporate the Commercial Safe Deposit and Trust Company. Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: SECT. 1. Clarence Hale, Stephen R. Small, William H. Corporators. Conant, Jacob S. Winslow, James H. Hamlen, George P. Wescott, Samuel A. True, Payson Tucker, John F. Randall, James C. Jordan, Charles S. Morrill, Joseph H. Short, Elisha W. Conley, Charles J. Walker, Edward H. Daveis, Dennis W. Clark, Ammi Whitney, their associates and successors, are made a corporation by the name of the Commer--corporate cial Safe Deposit and Trust Company, to be located at Portland, Maine, for the purpose of receiving on deposit, storage -purposes. or otherwise, moneys, government securities, stocks, bonds, name. CHAP. 127 coin, jewelry, plate, valuable papers and documents, evidences of debt, and other property of every kind, upon such terms. or conditions as may be obtained or agreed upon, and of investing moneys so received; and, at the request of any depositor, of collecting and disbursing the interest or income upon such of said property received on deposit as produces interest or income, and of collecting and disbursing the principal of such of said property as produces interest or income when it becomes due, upon terms to be prescribed by the corporation, and for the purpose of loaning money on real and personal security, and issuing letters of credit on terms that may be agreed upon, and for the purpose of borrowing or receiving money and investing the same; and all the powers and privileges necessary for the execution of these purposes are granted, subject, nevertheless, to the duties and restrictions and liabilities set forth in all the general laws which now are or hereafter may be in force in relation to such corporations. Reserve fund. Courts having control of money, may deposit with. SECT. 2. Such corporation shall at all times have on hand, as a reserve, in lawful money of the United States an amount equal to at least twenty-five per centum of the aggregate amount of all its deposits which are subject to withdrawal upon demand; and whenever said reserve of such corporation shall be below said per centum of such deposits, it shall not increase its liabilities by making any new loans until the required proportion between the aggregate amount of such deposits and its reserve fund shall be restored: provided, that in lieu of lawful money two-thirds of said twenty-five per centum may consist of balances, payable on demand, due from any national bank, or from any state bank, or other trust company. SECT. 3. Any court of law or equity, including courts of probate and insolvency of this state, may by decree or otherwise, direct any moneys or properties under its control, or that may be paid into court by parties to any legal proceedings, or which may be brought into court by reason of any order or judgment in equity or otherwise, to be deposited with said corporation, upon such terms and subject to such instructions as may be deemed expedient: provided, however, that said corporation shall not be required to assume or execute any trust without its own assent. Said corporation shall also have power to receive moneys or property in trust or on -administrators, etc., may deposit with. how money invested. may be deposit, from executors, administrators, assignees, guardians CHAP. 127 and trustees, upon such terms or conditions as may be obtained or agreed upon: provided, also, that all such moneys or property received under the provisions of this section, shall be loaned on or invested in the authorized loans of the United States, or of any of the New England states, or cities, or counties, or towns thereof, or of the states of Illinois, Iowa, Michigan, Minnesota and Wisconsin or the cities thereof, or stocks of state or national banks organized within this state, or in the bonds of any railroad company which has earned and paid regular dividends on its stock for five years next preceding such loan or investment, or in the stock of any railroad company in the New England states unencumbered by mortgage, which has earned and paid regular dividends on its stock for two years next preceding such loan or investment, or in first mortgages on real estate not exceeding onehalf the fair valuation thereof to be certified by two or more of the finance committee, or in any securities in which Maine savings banks are allowed to invest, or upon notes of individuals with a sufficient pledge as collateral of any of the aforesaid securities; but all real estate acquired by foreclosure of mortgages or by levy of execution shall be sold within five years after such foreclosure or levy: provided, also, that all such money or property received, invested or loaned under this section shall be a special deposit in said corporation and the accounts thereof shall be kept separate, and such funds, and the investment or loans of them shall be specially appropriated to the security and payment of such deposits and not to be subject to the other liabilities of the corporation; and for the observance of this proviso, said corporation shall have a trust department into which all business authorized by this section shall be kept separate and distinct from its general business. trust funds, special shall constitute a deposit. appointed executor of wills. SECT. 4. Said corporation may also be appointed executor, May be assignee or trustee under any will or instrument creating a trust, for the care and management of property, under the same circumstances, in the same manner, and subject to the same control by the court having jurisdiction of the same, as in the case of a legally qualified person. The capital stock of said capital stock, corporation, with the liabilities of the stockholders, existing thereunder, shall be held as security for the faithful discharge held as security. |