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Sec. 20. This act may be altered, amended or repealed by the Repeal. Legislature with the assent of two-thirds of both houses.

Sec. 21. This act shall take effect and be in force from and after its

passage.

Approved April 2, 1850.

[ No. 288. ]

AN ACT to incorporate the Copper Harbor Mining Company of

Michigan.

tion.

Section 1. Be it enacted by the Senate and House of Representatives Incorporaof the State of Michigan, That Samuel W. Hill, John Senter, Louis P. Morrison, John Slawson, Charles Bacon, and others who shall be associated with them, are hereby constituted a body corporate, by the name of the Copper Harbor Mining Company of Michigan, for the purpose of mining, smelting and manufacturing ores, minerals and metals in the upper peninsula of Michigan: Provided, That nothing in this act contained shall confer on said company any powers of banking or brokerage, exchange, dealing in money, purchasing any stock of any bank, or for any other purposes than herein particularly specified.

Provisc.

Capital

Sec. 2. The said company shall have corporate succession; its capital stock shall be two hundred thousand dollars, divided into ten thousand shares of twenty dollars each; and said company may acquire and hold such real and personal estate as the business of said Real es ate. company may require, to an amount not exceeding the capital stock; but said company shall not hold more than six hundred and forty acres of land in legal subdivisions in the upper peninsula, and 'shall hold no real estate in the lower peninsula, except a ware-house, lot and office, and such as may be necessary for smelting purposes.

Sec. 3. The officers of said company shall be stockholders therein, and shall consist of a president and board of six directors, of whom the president sl.a'l be one, a secretary and treasurer, who may, at the pleasure of the company, be one and the same person; and the said company may enact by-laws, not inconsistent with the laws of this State; to levy assessments on the shares of its stock; to forfeit and sell said shares for non-payment of any such assessment, in such

Officers.

By-laws.

1st directors

State tax.

Report to

surer.

manner as said by-laws shall prescribe; to provide for the manner of
electing officers, and for such other purposes as may be necessary to
carry out the intent and meaning of this act: Provided, That until
the first annual meeting of said company, after organization under
this act, Samuel W. Hill, John Senter, Louis P. Morrison, John
Slawson, Charles Bacon, and one such other
person as the
company
may see fit to appoint, shall be and continue, and they and their suc-
cessors are expressly constituted directors of said company, one of
whom shall be a citizen of Michigan, and shall have and exercise all
the powers, and be subject to all duties and restrictions imposed on
the directors to be chosen under this act.

Sec. 4. The said company shall pay to the Treasurer of the State of Michigan an annual tax of one per centum on the whole amount of capital actually paid in upon the capital stock of said company upon all sums of money borrowed by said company, and any investment of any portion of the earnings of said company in their business shall be considered as so much capital paid in; which tax shall be paid on the first Monday of January in each year, and shall be estimated upon the last preceding report of said company; and for that purpose the president and secretary of said company shall, on the first day of December, or within fifteen days thereafter, make, under their hands, a return to the State Treasurer, verified by their several State Trea oaths or affirmations, stating the number of acres and legal subdivision of all lands owned, and of all lands in possession of said company; also the amount which has actually been paid in on the capital stock of said company, the investment of any portion of the earnings of said company in their business, the whole amount of money which at any time has been borrowed by said company, and the whole amount of the indebtedness of said company, exclusive of borrowed money, and said tax shall be in lieu of all State taxes upon the real and personal estate of said company. If any report or return made by the officers of this company, in pursuance of the provisions of this act, shall be false in any material representation, all the officers false report. who shall have signed the same shall be jointly and severally liable for all the debts of said company contracted while they are stockholders or officers thereof.

Liability for

Sec. 5. The first meeting of said company shall be held at such

time and place as the persons named in the first section of this act, 1st meeting. or any two of them, shall appoint, by a notice to be published in one or more newspapers in the city of Detroit, at least thirty days before the time of such meeting.

Sec. 6. Any inhabitant of the State of Michigan, not a stockholder of said company, shall have a lien upon the stock, appurtenances and entire property of said company for all claims and demands against said company to the amount of one hundred dollars or under, which shall take precedence of all other claims or demands, judgments or decrees, liens or mortgages against said company; and any person may enforce said lien by filing with any court in the county where said debt was contracted, having jurisdiction thereof, an affidavit, showing, to the satisfaction of such court, that he has a claim under the provisions of this section, and such court may thereupon issue an attachment against the property of said company, and the same proceedings may be thereupon had as in other cases.

Lien.

provisions

Sec. 7. Said company shall be subject to the provisions of chapter General fifty-five of the revised statutes of eighteen hundred and forty-six, of this State, so far as the same is not inconsistent with the provisions of this act.

fice.

Sec. 8. The said company shall, within six months after their or- Business of ganization under the provisions of this act, locate their business office or offices, one of which shall be in this State, and file in the office of the Secretary of State of Michigan, a certificate specifying the place or places of such location. All annual and other meetings of said company shall be held at such place or places as the by-laws of the company, by its board of directors, may designate and direct.

process.

Sec. 9. Service of any legal process may be made on any one of service of the officers of said company, and said company shall at all times have an agent residing in the city of Detroit, upon whom service of all legal process may at any time be made, which shall be as valid as if made upon any of such officers. A certificate in writing of the appointment of such agent shall be filed in the office of the county clerk of the county of Wayne; and if no such agent shall be appointed, or if neither such agent nor any such officer shall be found in the county of Wayne, then service thereof may be made by posting up a copy of such 'process in some conspicuous place in said clerk's office.

Liability.

Dividends.

Time of payment of

limited.

Sec. 10. The stockholders of said company shall be severally individually liable to an amount equal to the amount of stock held by them respectively, for all debts and contracts made by said company, until the amount of stock held as aforesaid shall have been paid in and a return made to the State Treasurer, as prescribed in section four in this act, and they shall be jointly and severally liable for all debts that may be due or owing to any and all their laborers, or any other person or persons in their employ, for services performed for such corporation, but shall not be liable to an action therefor before an execution shall be returned unsatisfied in whole or in part against said company, and then the amount due on said execution shall be the amount recoverable, with cost and interest against said stockholders. If the directors of said company, or their agents, contract debts for the company, exceeding in the aggregate the amount of capital stock paid in, said directors shall be individually and personally liable for all debts of said company.

Sec. 11. If the directors of said company shall declare and pay any dividend when said company is insolvent, or which would render it insolvent, they shall be jointly and severally liable for all the debts of said company then existing, and for all debts thereafter contracted, so long as they shall respectively continue in office.

Sec. 12. This act shall cease, determine and be void if said com. capital so'k pany shall not pay in ten per cent. of their capital stock within two years after the passage of this act; and the amount of the capital stock of said company shall be limited to, and never thereafter exceed the amount paid in at the time the annual report of said company is made for the year eighteen hundred and sixty.

Duration of. charter.

Repcal.

Sec. 13. This act shall take effect immediately, and shall continue in force thirty years, but may at any time be amended or repealed. by the Legislature, if said company fail to comply with, or if they violate, any of the provisions of this act.

Approved April 2, 1850.

[ No. 289. ]

Lock.

Time for

AN ACT relative to James Seymour's dam at Flushing. Section 1. Be it enacted by the Senate and House of Representatives of the State of Michigan, That the lock required to be put into the dam of James Seymour, across Flint river in Genesee county, on section twenty-seven, town eight north, range five east, shall be constructed of dimensions not less than one hundred feet in length, and eighteen feet in width, and that the same may be put into said dam in that part there of which shall be the most safe and convenient for the passage of rafts, boats and other water craft: Provided, That such lock shall be constructed and ready for use within eight months from the passage of this act; and this act shall not prevent any re- construct'n. covery for damages in consequence of the erection or maintenance of said dam: And provided further, That such lock shall be constructed of larger dimensions if the circuit judge of said county shall, within three months, on cause shown, so order, after ten days notice to the owners of said dam or either of them, of application for such order; in which case said lock shall be built of such size and put into said dam at such place as said circuit judge may direct; and it shall be the duty of the circuit judge of said county to hear any such application which may be made to him either in term time or vacation, and to decide upon the same within the time above limited, and to file his decision or order thereon in the office of the county clerk of said county; notice of such application and of the Notice. time and place of hearing the same shall be published in the Flint Republican, at least two weeks before the hearing thereof.

Ci". Judges his duty.

injuring.

Sec. 2. Any person who shall destroy or in any wise injure said Penalty for dam, shute or lock, shall be deemed to have committed a trespass upon the owners thereof, and be liable accordingly; and any person who shall wilfully and maliciously destroy or injure said dam, shute or lock, shall be deemed guilty of a misdemeanor.

Sec. 3. The Legislature may at any time alter, amend or repeal Repeal. this act; and said James Seymour, his heirs or assigns, shall not demand or receive any damages in consequence of such alteration, amendment or repeal.

Approved April 2, 1850.

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