- CHAPTER 505.
- AN ACT to incorporate the
Janesville city lumbering and manufacturing company.
- The people of the state of Wisconsin,
represented in senate and assembly, do enact
- as follows:
1. R. A. LOVELAND, R. B.
TREAT, L. F.
W. G. ROBERTS and S. C. HACKETT, their successors,
associates and assigns, are created a body politic and and corporate,
by the name and style of the "Janesville lumbering and manufacturing
company," and by that name shall have perpetual succession,
may contract and be contracted with, sue and be sued, defend
and be defended, in all courts and places of law and equity,
in this state or elsewhere, and have a common seal, and alter
the same when necessary, and may have and use and exercise all
the power incident to corporations.
2. The said company shall have power
to make lumber
- of all kinds and to manufacture the
same; to mine for iron ore, lead ore, copper ore, coal ore, or
to make charcoal on any lands it may own or become in possession
of by purchase or lease in this state, or the states of Indiana,
Michigan or Illinois, and to manufacture the same into any or
all the articles which can be made or produced therefrom, and
may sell or dispose of the same in such manner as it may deem
best; and for that purpose the said company may purchase, lease,
hold and convey real or personal property, and may manufacture
all implements, machinery or other things necessary to use in
conducting and carrying on the business of said company; shall
have full power and authority to do and perform all such acts
and carry on any business which may be necessary, proper or expedient
to be done, carried on or performed, to promote the best interests
of the same,... [missing rest of paragraph]
3. [The beginning part of this
section is also missing]
- ... secretary and sealed with the seal
of the corporation, and shall be transferred in such manner as
the majority of the directors may determine by by-laws or resolutions;
at all meetings of stockholders, each stockholder shall be entitled
to one vote for each share of stock by him owned and vote in
person or by proxy.
|When may organize.
4. It shall be lawful for such company
to organize and
- commence their operations when and
as soon as twenty-five thousand dollars of the stock of said
company is subscribed and paid into the treasury thereof, and
with that capital to commence, conduct and arrange the business
of the same.
|Board of directors.
5. Said company is hereby authorized
to receive in
- payment for stock, cash, personal property
or such real estate, as may in the estimation of the majority
of the board of directors be expedient or advantageous for said
company to own.
|Officers of the board.
6. The officers [affairs,] business
and property of said
- company shall be under the control
and managed by a board of directors, of not less than five, all
of whom must be stockholders, to be elected on the first Wednesday
in June, 1868, or as soon thereafter as may be deemed expedient
by a majority of the stockholders. Said directors to hold their
office for the period of one year from the time of their election
or until their successors shall be chosen. The directors when
elected, shall by ballot, elect one of their number president,
one of their number secretary and one treasurer; and shall appoint
such other officers and agents as they may deem proper, and may
prescribe their powers and pay them compensation. They shall
have power to make, adopt, amend, alter and repeal by-laws for
the government of the said company, not inconsistent with the
laws of the United States, of this state or the states of Indiana,
Michigan or Illinois; and they shall have power to locate the
office or place of business of said company and to change the
same when deemed expedient.
|Board of directors.
7. This act shall take effect from
and after... [rest
Private and Local Laws Passed by the Legislature of Wisconsin
in the Year 1868. pp. 1438-1439.]