be, and they are hereby incorporated, and made a body politic, Be it further enacted, That when any proprietor Assessments shall neglect or refuse to pay any tax or assessment duly voted and the sale of delinquents' and agreed upon by the said company to their treasurer, for the shares. term of sixty days after the time set for the payment, the treasurer of said company is hereby empowered to sell at public vendue the share or shares of such delinquent proprietor, one or more, as may be sufficient to defray said tax and necessary charges, after due public notice thereof, by posting up an advertisement in two places of public resort, in the said town, fourteen days at least before such sale, stating the same [sum] due on such share or shares, and the day and place, and cause of such sale, and such sale shall be a sufficient transfer of the share or shares so sold to the person purchasing the same; and the purchaser, on producing a certificate from the treasurer to the clerk of said company, certifying such sale and purchase, record thereof shall be made by the said clerk in the books of the company, for that purpose provided and kept, and such purchaser shall be considered, to all intents and purposes, the proprietor thereof, and the overplus, if there be any, shall be paid on demand by the treasurer to the person whose share or shares have been thus sold. SECT. 3. Be it further enacted, That any justice of the First meeting. peace for the county of Barnstable is hereby empowered, upon application therefor, to issue a warrant, directed to one of the proprietors, and member of said company, requiring him to notify and warn a meeting of said company, at such time and place as shall be appointed in the said warrant, to organize said company by the appointment of its officers. SECT. 4. Be it further enacted, That this act may be Legislative conaltered or amended, at the pleasure of the Legislature. [March trol. 11, 1831.] An ACT in addition to an Act to establish the Boston and Lowell Rail-road Corporation. Chap. 79. BE it enacted by the Senate and House of Representatives, 1830 ch. 4. in General Court assembled, and by the authority of the same, That the capital stock of the Boston and Lowell Rail-road Cor- Capital stock to poration shall consist of twelve hundred shares, instead of one twelve hundred thousand shares, as is provided in the second section of the act shares. to which this is in addition. And the further term of one year consist of Chap. 80. Persons incorporated. Powers and duties. 1829 ch. 53. Real and personal estate. Chap. 82. Persons incorporated. Powers and duties. 1817 ch. 120. 1819 ch. 141. is hereby allowed to said corporation for the purpose of obtaining subscription to the stock, organization of the company, and filing the location of the route of the rail-road, in addition to the time granted by the thirteenth section of the act incorporating said Boston and Lowell Rail-road Company. [March 11, 1831.] Add. acts, 1832 ch. 87: 1834 ch. 1: 1836 ch. 146. An ACT to incorporate the Neponset Company. SECT. 1. BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the same, That Cornelius Coolidge, Henry B. Rogers, and Samuel Snelling, Jr., their associates, successors and assigns, be, and they hereby are made a corporation, by the name of the Neponset Company, for the purpose of manufacturing woollen and cotton goods and machinery in the towns of Canton and Sharon, in the county of Norfolk; and for this purpose shall have all the powers and privileges, and be subject to all the duties and requirements, contained in an act entitled "an act defining the general powers and duties of manufacturing corporations,' passed the twenty-third day of February, in the year of our Lord one thousand eight hundred and thirty. SECT. 2. Be it further enacted, That the said corporation may be lawfully seized and possessed of such real estate, not exceeding the value of two hundred and fifty thousand dollars, and such personal estate, not exceeding the value of two hundred and fifty thousand dollars, as may be necessary and convenient for the purposes aforesaid. [March 11, 1831.] An ACT to incorporate the Merchants Insurance Company in Newburyport. SECT. 1. BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the same, That William Bartlett, John Wills, John Wood, Robert Jenkins, John N. Cushing, David Noyes, Benjamin Hale, William Balch, Stephen Tilton, Henry Johnson, Amos Noyes, Henry Frothingham, Samuel Nichols, Eleazer Johnson, and Edmund Swett, and their successors, associates and assigns, be, and they hereby are incorporated and made a body politic, by the name of the Merchants Insurance Company, to be located in Newburyport, for the purpose of making maritime loan [loans] and insurance against maritime losses and losses by fire, in the usual and customary manner, with all the privileges, and subject to all the duties and obligations contained in a law entitled "an act to define the powers, duties and restrictions of insurance companies," passed on the sixteenth day of February, in the year of our Lord one thousand eight hundred and eighteen, and in a law entitled "an act authorizing the several insurance offices [companies] in this Commonwealth to insure against fire," passed on the twenty-first day of February, in the year of our Lord one thousand eight hundred and twenty, for and during the term of twenty years from and after the passing of this act; and, by that name may sue and be sued, plead and be impleaded, appear, prosecute and defend, to final judgment and execution; and may have a common seal, which they may alter at pleasure, and may purchase, hold and convey any estate, real or personal, for the use of said company provided, the said real estate shall Real estate. not exceed the value of twenty thousand dollars, excepting such as may be taken for debt, or held as collateral security for money due to said company. SECT. 2. Be it further enacted, That the capital stock of Capital stock, said company exclusive of premium notes, and profits arising shares, &c. from business, shall be two hundred thousand dollars, and shall be divided into shares of one hundred dollars each, and fifty per centum thereof shall be paid in money, within sixty days after public notice given by the president and directors chosen by the stockholders, and published in the Newburyport Herald, namely, twenty-five per centum of said capital stock in thirty days after such notice, and twenty-five per centum thereof in thirty days more, and the residue in such instalments, and under such penalties, as the president and directors shall order and appoint : provided, that said residue shall be paid within one year from the first meeting of the company. election of directors. SECT. 3. Be it further enacted, That the stock, property Number and and concerns of said company shall be managed and conducted by nine directors, one of whom shall be the president of the company, and they shall hold their office until the next annual meeting after their election, and until others are chosen in their stead, and no longer, and shall, at the time of their election, be stockholders in said company, and citizens of this Commonwealth, and the directors shall be elected at the annual meeting of said company, which shall be holden at such time and place in Newburyport in the month of October annually, as the directors for the time being shall appoint, of which meeting public notice shall be given in a newspaper printed in Newburyport, at least two weeks previous thereto, and the election shall be made by ballot by a majority of the votes of the stockholders present, allowing one vote for each share in the capital stock: provided, Right of voting. that no stockholder shall be entitled to more than twenty votes in his own right, and absent stockholders may vote by proxy. SECT. 4. Be it further enacted, That the directors, as soon President. as may be convenient after they shall have been chosen, shall meet and elect one of their body to be the president of the company, and he shall be sworn or affirmed to the faithful discharge. of the duties of his office, and he shall preside until the next annual meeting, and until another president shall be chosen, and in case of the death, resignation, or inability to serve of the president or any director such vacancy or vacancies shall be filled for the remainder of the year in which they happen, by a special election at a meeting of the stockholders, to be called in the same manner as is herein provided respecting annual elections of direc tors. business. SECT. 5. Be it further enacted, That the president and Board for doing four of the directors, or five of the directors in the absence of the president, shall be a board competent to transact all the busi First meeting. Limitation of risks. Liability to taxation. Chap. 83. ted. ness which is referred to them, and all questions before them shall be decided by a majority of votes, and they shall have power to appoint a secretary, and such clerks and servants for carrying on the said business, and with such salaries and allowances to them and to the president as to the said board shall seem meet, and to make and prescribe such by-laws, rules and regulations, as to them shall appear needful and proper, touching the management and disposition of the stock, property, estate, and effects of said company, and the transfer of the shares, and the duties and conduct of the several officers, clerks and servants employed provided the same be not repugnant to the constitution and laws of this Commonwealth, and except when herein otherwise provided, to do all things which may be lawfully done by said company. SECT. 6. Be it further enacted, That any two or more persons named in this act of incorporation, be, and they hereby are authorized, as soon as may be convenient after the passing of this act, to call the first meeting of said company for the purpose of organizing the corporation, and choosing directors, by advertising notice of the time and place of the meeting two weeks successively in the Newburyport Herald. SECT. 7. Be it further enacted, That said company shall not take any risk, or subscribe any policy, until one half of their capital stock shall have been paid in, nor shall they ever take any one risk by way of policy of insurance, maritime loan, bottomry or otherwise, which shall exceed ten per centum on the capital actually paid in at the time. SECT. 8. Be it further enacted, That said company shall be liable to be taxed by any general law providing for the taxation of all similar corporations. [March 12, 1831.] An ACT to incorporate Trinity Church in the City of Boston. SECT. 1. BE it enacted by the Senate and House of Representatives, in General Court assembled, and by the authorProprietors of ity of the same, That the proprietors of pews in Trinity Church, pews incorpora- in the city of Boston, together with all persons who shall hereafter become owners of pews in said church, be, and they are hereby incorporated and made a body politic and corporate, by the name of Trinity Church, in the city of Boston, and may have, exercise and enjoy all the rights and privileges which, as a protestant episcopal church, they have heretofore possessed and enjoyed, and to which other religious societies are by law entiGeneral powers. tled; and said corporation are empowered to make by-laws, by which the government of said society, its forms of proceedings, the duties and powers of its officers, the mode of calling meetings, and the due management of its concerns, shall be provided for and prescribed; also to adopt, and, from time to time, to vary, a common seal; and to commence and prosecute or defend any suit or action at law or in equity, necessary or proper to be prosecuted or defended, to enforce or protect their rights, claims and privileges. made successors SECT. 2. Be it further enacted, That the said corporation Corporation shall be deemed and taken to be the successors of said society, of the society. and all real and personal estate heretofore held by said society, is hereby confirmed to said corporation, to be held and used by them, in the manner and for the purposes in and for which the same has heretofore been held and used; and all contracts, engagements and obligations heretofore made, entered into, and incurred by said religious society, shall be assumed by, and be binding upon said corporation, and they shall be liable for the due observance thereof. &c. SECT. 3. Be it further enacted, That said corporation may Assessments, make any and all reasonable assessments and taxes for the support of public worship, and for the preservation, improvement and reparation of their church edifice, or other estates of which they shall be at any time seized or possessed, or in which they may have any interest, and may also borrow monies, from time to time, to pay any existing debt or debts, and any debt or debts which may hereafter be incurred for the use of said society, and the real and personal estate of said corporation, and the pews in their church, shall at all times be liable to any creditor or creditors of said society, but the individual proprietors shall not be chargeable or liable, in person or estate, for any debt or debts owing at any time by said corporation, except that the pew or pews of such proprietor or proprietors in said church, shall be subject to such debts as before provided. trustees. SECT. 4. Be it further enacted, That said corporation be, Appointment of and they are hereby empowered to choose and appoint annually, if they deem it expedient so to do, a trustee or trustees, to take charge of, hold, manage and apply the property and estate, which does or shall constitute the widow's fund, belonging to said society, conformably with the directions and stipulations given and prescribed by the subscribers to said fund, by a report of their committee accepted the thirtieth day of December, in the year of our Lord one thousand eight hundred and four, and recorded page one hundred and nineteen of the second volume of the records of said church, and also to take, hold and manage such Real and perother real and personal estate which may belong to said corporation, the actual produce whereof shall not exceed five thousand dollars annually, and which shall be applicable to the support of the public worship of God, the maintenance or education of the poor of said society, or other religious or charitable purposes, and such trustee or trustees shall and may sue, prosecute and defend any and all action or actions, suits and causes at law and in equity, in his or their own name or names as such trustee or trustees, touching or concerning said fund, or such real and personal estate. sonal estate. SECT. 5. Be it further enacted, That this act shall take When this act effect and go into operation on and after Monday, the fourth day shall take effect. of April next: provided, that the proprietors of said church do and shall at their annual meeting, to be held on said day, accept and adopt the same, otherwise this act shall be deemed void. |