1

by whom and how called

SECT. 2. Be it further enacted, That Isaac Sturdivant, Ephraim Sturdivant, Thomas Brown, George First meeting Willis and George Turner, or any three of them, be, and they are hereby authorized to call the first meeting of said corporation, by advertisement, published two weeks successively, in each of the newspapers printed in Portland, setting forth the time, place and purposes of said meeting; at which meeting it shall be lawful for the members of said corporation, by the major vote of the persons present, to at which may elect a clerk and any other needful officers; determine the mode of calling future meetings and the manner of voting therein; and at the same time, or any other meeting, to make any by-laws for their regulation and government, not repugnant to the laws of the State.

elect officers,

&c.

Toll established.

SECT. 3. Be it further enacted, That the said proprietors may lawfully demand and receive at said bridge, of all persons passing the same, a toll, not exceeding the following rates, viz.: for each foot passenger, one cent; each person and horse, four cents; each chaise or sulkey, drawn by one horse, six cents; each sleigh drawn by two horses, seven cents; each coach, phaeton, chariot or curricle, fourteen cents; each waggen, cart, sled or other carriage of burthen, drawn by one or two beasts, six cents; and for each sleigh drawn by one horse, four cents; and for each additional yoke of cattle, in the same team, one cent; each wheelbarrow, hand cart or other vehicle, capable of carrying a like weight, with one person, two cents; neat cattle or horses, exclusive of those rode on or harnessed, two cents each; sheep and swine, at the rate of six cents the dozen; and to each team one person and no more as a driver, may pass free of toll; and all persons who shall be actually on military duty, shall be permitted to pass said bridge free of toll. Gates to be left And at all times, when the toll gatherer shall not open when the attend his duty, the gates shall be left open: Provishall not at ded however, That after the term of ten years, from the commencement of taking such toll, the rate of toll shall be subject to the further regulation of the State.

toll gatherer

tend his duty

Toll may be

altered.

sage way to be

SECT. 4. Be it futher enacted, That said proprietors shall build and keep a convenient and sufficient draw or passage way, at least thirty two feet Draw or pas wide, at some place in said bridge, proper for the built. passing of vessels by day and by night, through the same; and a suitable wharf or pier on each side of said bridge, and adjoining said draw, sufficient for vessels to lie at; and said draw shall be lifted for all vessels without toll or pay, except for boats or lifted free of vessels passing for pleasure; and all vessels intend- sels except ing to pass through said draw, shall be free of charge for pleasure. at said wharf or pier, until a suitable time shall offer for passing the same.

Draw to be

toll for all ves

those passing

of the bridge,

SECT. 5. Be it further enacted, That said bridge shall be well built, at least twenty five feet wide in Construction the clear, and of good materials, well tailed, and kept &c." in good, safe and passable repair; and at the place where said tolls are collected, the rates of toll aforesaid, and all others which may hereafter be granted, shall be fairly and legibly painted in large or capital letters, and kept constantly exposed to the view of passengers.

be completed

SECT. 6. Be it further enacted, That unless said Bridge shall bridge shall be completed within six years next en- within a cetsuing, this act shall be void: Provided, That the tain period. Legislature of this State shall have power to grant Powers, &c. any further powers, alter, or restrain any privileges herein granted, when the public good may require it. [This Act passed February 23, 1825.]

may be alter

CHAPTER CCCXXIX.

AN ACT in addition to an "Act for the relief of School Districts in the towns of Freeman and Phillips."

SECT. 1. BE it enacted by the Senate and House of Representatives, in Legislature assembled, That the School District, created by the act aforesaid, shall continue for the term of fifteen years; and the town officers of said towns of Freeman and Phillips, Continuation when requested by the proper officer of said united of the District. district, are hereby required to do and perform all the duties, in relation thereto, which by law they

ficers of the

Duty of the of are authorized to do and perform, in respect to any towns of Phil- other school district in their several towns; and lips and Free- the money to be raised for the purposes aforesaid,

man.

sold after a

certain time.

shall be assessed by the proper officers in each of said towns, according to the proportion thereof, belonging to their respective districts, thus united, to pay.

SECT. 2. Be it further enacted, That in case the inhabitants of the said united School District, shall Property to be erect and build a school house therein, the same house, and all other common property, at the end of fifteen years, shall be sold at auction, and the whole proceeds of sale, justly and proportionally distributed among said inhabitants, according to what they paid, or were assessed, in the tax next preceding such sale.

SECT. 3. Be it further enacted, That the first meeting of the qualified voters, in said united school First meeting, district, shall be called in the manner prescribed how called,&c. by the act to provide for the education of youth, on application of three or more freeholders residing in said district, to the Selectmen of either of said towns of Freeman and Phillips.

[This Act passed February 23, 1825.]

porated.

CHAPTER CCCXXX.

AN ACT to incorporate the Bank of Maine.

SECT. 1. BE it enacted by the Senate and House of Representatives, in Legislature assembled, That Persons incor- Jacob Quincy, Isaac Ilsley, Asa Clapp, Joshua Winate, jun. Charles Q. Clapp, George Warren, Hezekiah Winslow, Richard Cobb, and A. L. Emerson, and their associates, successors and assigns, shall be, and hereby are, created a corporation by the Charter to con- name of BANK OF MAINE; and shall so conOctober 1831. tinue until the first day of October, which shall be in the year of our Lord one thousand eight hundred and thirty-one; and by that name shall be, and hereby are made capable in law to sue and to be sued; plead and be impleaded; defend and defend

tinue until

privileges.

ed, in any courts of record, or any other place; and Powers and also to make, have and use a common seal; and to ordain, establish, and put in execution such by-laws, ordinances and regulations, as to them may appear necessary and convenient for the government of said corporation, and the prudent management of their affairs Provided, such by-laws, ordinances and Proviso. regulations, shall in no wise be contrary to the laws of this State. And the said corporation shall always be subject to the rules, restrictions, limitations and provisions herein prescribed.

100,000;

10 per cent. to

SECT. 2. Be it further enacted, That the capital stock of said corporation shall consist of the sum of one hundred thousand dollars, in gold and silver, and Capital Stock be divided into one thousand shares; and not more than ten per cent. of such capital stock shall at any not more than one time be held or owned by one person; and in be held by one case several individuals shall be associated together person, or copartnership; as co-partners, the whole amount held or owned by the co-partnership, and by all the individuals constituting the co-partnership, shall not at any time exceed ten per cent. of said capital stock; which capital stock shall be paid in at when to be two instalments; the one half thereof to be paid in paid in. gold and silver on or before the first Monday of October next, and the remaining half part thereof, on or before the first Monday of April, which will be in the year of our Lord one thousand eight hundred and twenty-six: Provided, That no money shall be loaned or discounts made, or shall any bills or pro- No loans or missory notes be issued from said Bank, until the discounts to be capital subscribed for, and actually paid in and $ 50,000 be existing in gold and silver in their vaults, shall a-paid in ; mount to fifty thousand dollars, and the affidavits of the President and Cashier, of such facts, and affidavits shall have been filed in the office of the Secretary made. of State. And the Stockholders, at their first meeting, shall by a majority of votes, determine the mode of transferring and disposing of said stock and the profits thereof, which being entered on the ferring stock books of said corporation, shall be binding on the to be deterstockholders, their successors and assigns; and meeting. the said corporation, are hereby made capable

made, until

Mode of trans

mined at first

may be held

a certain a

mount.

negotiate mo

Real estate in law to have, hold, purchase, receive, possess and not exceeding retain to them, their successors and assigns, lands, tenements and hereditaments, to the amount of ten thousand dollars, and no more at any one time; with power to bargain, sell and dispose of the same, and May loan and to loan and negotiate their monies and effects, by nies, &c. discounting on banking principles, on such security, as they shall think advisable: Provided, nothing herein contained shall restrain or prevent said corporation from taking and holding real estate in mortgage or on execution, to any amount, as security for, or in payment of, any debts due to said corporation.

Proviso.

Bills of certain

SECT. 3. Be it further enacted, That all bills to be issued by said bank, of the denomination of one, denominations two, three, four, five and ten dollars, shall be printhow to be pried and impressed from a steel stereotype plate, of the kind and description, known by the name of Perkins' steel stereotype plate.

red.

Rules, &c. of

tion.

of debts due

from,

and to the corporation.

ble in case of

excess,

SECT. 4. Be it further enacted, That the followthe corpora ing rules, limitations, and provisions, shall form, and be the fundamental articles of said corporation. First. Total amount That the total amount of the debts which said corporation shall at any time owe, whether by bond, bill, note or contract, shall not exceed fifty per cent. beyond the amount of their capital stock actually paid in, exclusive of the sums due on account of deposits; nor shall there be due to the said corporation, at any one time, more than double the amount of the capital Directors lia- stock actually paid in as aforesaid; in case of excess, the Directors, under whose administration it shall happen, shall be liable for the same in their individual capacities; and an action of debt may, in such case, be brought against them, or any of them, their or any of their heirs, executors, or administrators, in any court proper to try the same, by any creditor or creditors of said corporation; and may be prosecuted to judgment and execution. And the aggregate of all debts due to said Bank from the Directors, or any of them, as principals, indorsers or sureties, shall not, at any time, exceed in amount, forty per centum the capital stock of said Bank; and for every

and how;

not to be indebted over

certain amo't.

of