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Chap. 152

Corporators.

Powers and duties.

all the powers and privileges, set forth and contained in an
act entitled "An Act to regulate fire departments," passed
on the ninth day of April, in the year one thousand eight
hundred and thirty-nine.
May 15, 1851.

AN ACT to incorporate the Roxbury Athenæum.

Be it enacted, &c., as follows:

SECTION 1. Henry Bartlett, Charles K. Dillaway, S. Parkman Blake, their associates and successors, are hereby made a corporation, by the name of the Roxbury Athenæum, with all the powers and privileges, and subject to all the duties, liabilities, and restrictions, set forth in the forty-fourth chapReal and person- ter of the Revised Statutes, with power to hold real and personal estate, not exceeding the sum of fifty thousand dollars, to be appropriated exclusively to literary and scientific purposes.

al estate.

Proprietors of Roxbury Athenæum may become members of this corpora tion, &c.

When to take effect.

Act when accept

ed to take place of former

tion.

corpora

SECTION 2. The proprietors of the Roxbury Athenæum, an institution heretofore organized under and by virtue of the forty-first chapter of the Revised Statutes, as a corporation for literary and scientific purposes, shall, upon the acceptance of this act as hereinafter provided, be and become members of the corporation hereby created and established; and each certificate of a share in the said former corporation shall constitute the title and evidence of a share in the corporation hereby created and established, unless otherwise ordered by the said last named corporation.

SECTION 3. This act shall not take effect until it shall be accepted by a vote of a majority of the proprietors of the said Athenæum, as now existing, who shall be present at a meeting to be regularly called at the time and in the manner provided by the present by-laws of the said Athenæum for the annual meeting thereof, the notice of which meeting shall state, in addition to its usual form, that this act is to be submitted to the said proprietors for their action thereupon; and until such acceptance, the said Athenæum shall continue a corporation as at present organized; and it is hereby fully sanctioned and affirmed, to all interests and purposes, as if this act had not been passed. And whenever this act shall be accepted by a vote of a majority of the proprietors of the said Athenæum, present at a meeting called for that purpose, the corporation hereby created and established shall wholly take the place of the said former institution, and shall succeed to all its rights, interests, property, obligations, and liabilities. May 15, 1851.

[1834, 73.]

AN ACT in addition to an Act to incorporate the First Evangelical Con- Chap. 153 gregational Society in Uxbridge.

Be it enacted, &c., as follows:

sess on pews, &c.

SECTION 1. The First Evangelical Congregational Soci- Authorized to as ety in Uxbridge, are hereby authorized to assess upon the pews of their meeting-house such sums of money as they shall hereafter vote to raise for the support of public worship, for other parochial charges, and for the repairs of their meeting-house; and all such assessments may be collected in the manner provided by the thirty-second, thirty-third, and thirty-fourth sections of the twentieth chapter of the Revised Statutes.

SECTION 2. This act shall take effect from and after its passage. May 15, 1851.

[1850, 265.]

AN ACT concerning the East Hampshire Agricultural Society.

Be it enacted, &c., as follows:

Chap. 154

SECTION 1. The East Hampshire Agricultural Society, Name changed. in the county of Hampshire, shall, after the passing of this act, be called and known by the name of the Hampshire Agricultural Society.

SECTION 2. The said society shall be entitled, on the Rights, privisame terms as other incorporated agricultural societies, to leges, &c. receive annually, out of the treasury of the Commonwealth, such sum as any other agricultural society may receive, under the provisions of chapter forty-two of the Revised Statutes, notwithstanding the restrictions of section seven of that chapter. May 15, 1851.

[1848, 231; 1850, 113.]

AN ACT to authorize the Saugus Branch Railroad to extend the same.
Be it enacted, &c., as follows:

Chap. 155

SECTION 1. The Saugus Branch Railroad Company is Location. hereby authorized to extend its railroad from Sweetser's Mills, in the town of Saugus, to Flax Pond, in the city of Lynn: provided, however, that the said railroad in its exten- Proviso. sion shall not be permitted to cross the Salem Turnpike.

SECTION 2. The said railroad corporation, in the exten- Privileges and sion of the said road through the limits aforenamed, shall liabilities. be entitled to all the privileges and benefits, and be subject

to all the liabilities that are provided in the act or acts to which this is additional.

SECTION 3. The said railroad corporation is hereby author- Capital stock inized, for the purpose above mentioned, to increase its capital creased. stock by the amount of four hundred shares; and no shares No shares to be shall be issued under this act, or the act to which this is

issued at less than

par.

Location must be filed within one

completed in two

additional, for a less sum or amount, to be actually paid in on each, than one hundred dollars a share.

SECTION 4. In case the location of the extension above year, and road mentioned shall not be filed according to law within one year from the passage of this act, or in case the said extension shall not be completed and built within two years from the same time, this act shall be null and void.

years.

com

Shall not
mence, until, &c.

Chap. 159

Corporators.

Name.

Powers and duties.

Real and personal estate.

No shares to be issued at less

SECTION 5. The said corporation shall not commence the
construction of its road, or any part thereof, until a certifi-
cate shall have been filed in the office of the secretary of
the Commonwealth, subscribed and sworn to by the presi-
dent of the said company, and a majority of the directors
thereof, stating that all of the stock named in its respective
charters has been subscribed for by responsible parties, and
that twenty per cent. of the par value of each and every
share thereof has been actually paid into the treasury of the
company.
May 15, 1851.
[1851, 306; 1852, 164; 1854, 310; 1855, 227; 1858, 18.]

AN ACT to incorporate the Worcester Gas Light Company.
Be it enacted, &c., as follows:

SECTION 1. John W. Lincoln, George T. Rice, Charles Thurber, their associates and successors, are hereby made a corporation, by the name of the Worcester Gas Light Company, for the purpose of manufacturing and selling gas in the city of Worcester, with all the powers and privileges, and subject to all the duties, restrictions, and liabilities, set forth in the thirty-eighth and forty-fourth chapters of the Revised Statutes.

SECTION 2. The said corporation may hold such real and personal estate as may be necessary and convenient for the purpose aforesaid, not exceeding in value the sum of two hundred thousand dollars.

SECTION 3. No shares in the capital stock of the said than par value. Corporation 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.

Power to open ground, &c.

SECTION 4. The said corporation, with the consent of the mayor and aldermen of the city of Worcester, shall have power and authority to open the ground in any part of the streets, lanes, and highways, in the said city, for the purpose of sinking and repairing such pipes and conductors as it may be necessary to sink for the purpose aforesaid, and the said corporation, after opening the ground in such streets, Held to put the lanes, or highways, shall be held to put the same again into repair under the penalty of being prosecuted for a nuisance: provided, that the said mayor and aldermen, for the time being, shall at all times have the power to regulate, restrict,

same in repair again.

Proviso.

and control, the acts and doings of the said corporation which may in any manner affect the health, safety or convenience of the inhabitants of the said city.

bilities of propri

SECTION 5. The corporation hereby created shall assume Shall assume liaall the liabilities of the present proprietors of the gas light etors of present works in Worcester, in relation to the making and selling of gas works, &c. gas.

SECTION 6. This act shall take effect from and after its passage.

May 15, 1851.

AN ACT to incorporate the Massachusetts Mutual Life Insurance Company. Chap. 160 Be it enacted, &c., as follows:

SECTION 1. Alexander H. Avery, James M. Thompson, Corporators. William Rice, their associates and successors, are hereby made a corporation, by the name of the Massachusetts Mutual

Life Insurance Company, in the town of Springfield, for the In Springfield. purpose of making insurance on lives, with all the powers Powers and and privileges, and subject to all the duties, liabilities, and duties. restrictions, set forth in the forty-fourth chapter of the Revised Statutes.

Guaranty capital

SECTION 2. There shall be an original guarantee capital stock, $100,000. stock subscribed to the said corporation, which shall be one hundred thousand dollars, to be divided into shares by the corporation, half of which shall be paid in, in money, before How to be paid. the said corporation shall go into operation for the purpose of making insurance, the other half of the said stock may be called for by the directors, from time to time, when they deem it necessary or expedient, and shall be paid in by the holders of the stock, which shall always stand pledged to the corporation for all such assessments so called for.

number, term of

elected.

SECTION 3. At the first meeting of the corporation, a Directors, their number of directors, not less than eight, shall be chosen by office, and how the subscribers to the guarantee stock, who shall hold their offices for one year, and until others shall be chosen in their stead. At all subsequent elections of directors, the number shall be such as may be provided for by a previous vote of the directors, not less than seven, or by-law of the corporation; and in case of no provision on this subject, the number shall be the same as at the first election, one-half of whom shall be elected by the stockholders, and the other half by the assured members who are not holders of guarantee stock voting in separate bodies; the directors shall all be either stockholders or assured, and on ceasing to be such shall cease to hold the said office.

SECTION 4. Whenever the net surplus receipts of the Dividend. corporation, over the losses and expenses, and after providing for risks, shall be sufficient for the purpose, the stockholders shall be entitled to an annual dividend of seven per cent.,

Funds, how invested.

Real estate.

Disposition of surplus funds.

Directors chosen by assured.

Surplus fund reimbursed.

One-third of net

profits to be paid

or to such less dividend as may be agreed upon at the time of subscribing for the stock; and in case such dividends shall not be made in any one year it shall be made good at a subsequent period, when the net resources of the company shall be sufficient for paying the same.

SECTION 5. The funds of the said corporation shall be invested in such purchases and loans as are permitted to savings banks, in the seventy-eighth and seventy-ninth sections of the thirty-sixth chapter of the Revised Statutes, and in the forty-fourth chapter of the acts of the year one thousand eight hundred and forty-one. The said company may hold real estate to an amount not exceeding ten thousand dollars, for the purpose of securing suitable offices for the institution.

SECTION 6. After providing for risks, losses, incidental expenses, and dividends, as aforesaid, the directors shall set apart one-quarter of the estimated surplus funds and receipts as a reserved fund, to be applied to the redemption of the guarantee stock; and whenever, after the expiration of ten years from the time of organizing the company, the amount of such reserved fund shall be sufficient for the purpose, and the assured shall vote to redeem the said guarantee stock, the same shall be redeemed.

SECTION 7. Upon the redemption and extinguishment of the guarantee stock, under the provisions of the sixth section, the directors shall be chosen by the assured.

SECTION 8. At the expiration of every period of five years from the time of the organization of the company, the remaining three-quarters of the estimated surplus funds and receipts shall be reimbursed to and among the assured, in proportion to the whole amount of premiums paid during the preceding five years.

SECTION 9. The said corporation shall, on the third Monto Massachusetts day of January, in every year, pay over to the trustees of General Hospital. the Massachusetts General Hospital, one-third of the net profits, if any, which shall have arisen from insurance on lives made during the preceding year.

May 15, 1851.

Chap. 163 AN ACT to incorporate the Bay State Mutual Life Insurance Company. Be it enacted, &c., as follows:

Corporators.

Purpose.

SECTION 1. Gardiner Dickinson, Austin Rice, Anson. Shepard, their associates and successors, are hereby made a corporation, by the name of the Bay State Mutual Life Insurance Company, in the town of Conway, for the purpose of making insurance on lives, with all the powers and privileges, and subject to all the duties, liabilities, and restrictions, set forth in the forty-fourth chapter of the Revised Statutes.

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