SECTION 180. Sporting. 181. Stage coaches. 182. Street railroads. 183. Telegraphs: telephones. 184. Tobacco warehouses. 185. Toll roads: plank, gravel, mac adamized, turnpike roads, etc. 186. Training nurses. SECTION 188. Trust companies. 190. Water works. 191. Indiana: enumeration of purposes for which corporations may be formed. 192. Texas: enumeration of purposes for which corporations may be formed. § 132. Statutes authorizing the Formation of Corporations. Statutes are multiplying in many of the States extending the objects for which corporations may be formed. These, in some instances, take the form of amending statutes already in existence; in others they furnish within themselves an entire scheme of incorporation. In this subdivision an attempt is made to exhibit the purposes for which corporations may be formed under general laws by extracts from the legislation of several of the States: Alabama, California, Colorado, Illinois, Indiana, Missouri, Ohio, and New York. A more striking illustration could not be given of the fantastic patchwork of which American legislation consists. It suggests the reflection whether it would not be better in all cases to enact a consolidated statute, enumerating all the purpose for which corporations have hitherto been allowed in the particular State, either under general or special laws, and to enact that corporations may be formed for such purposes and for any other purposes for which individuals may lawfully associate,' — leaving it to be ascertained in every Act 1 In California a recent statute authorizes the formation of corporations to act as executor, administrator, guardian of estates, assignee, receiver, depositary, or trustee; Act March 5, 1887; L. 1887, c. 26, p. 21. In Colorado, to warrant or insure the title to real property, authorized. April 7, 1887; L. 1887, p. 234. In Minnesota the provisions of the General Statutes of 1878 (Gen. Stats. Minn. ch. 34, § 31), for the incorporation of railway and other companies "which require the taking of private property or any easement therein," have been amended by including therein companies for building, etc., "pneumatic tube lines, subway conduits for the passage, operation and repair of electric and other lines or pipes." Act March 7, 1887; Gen. L. 1887, c. 161, p. 269. In Dakota Territory the provisions of the civil code relating to the formation of private corporations were amended in 1887, by specifying what business such corporations might pursue. Dakota Act of Feb. 7th, 1887; Dak. Laws 1887, chap. 35, p. 84. 2 As in § 164, post. case where the lawfulness of the purpose is not fixed by an express statute, to be determined, on petition to a court of general jurisdiction, subject to an appeal to a court of last resort, either by the applicants or by the State, whether the incorporation shall be allowed. In such case the State's attorney should have notice of the application, and it should not be allowed to take the form of a mere ex parte proceeding, in which no one save the petitioners is interested. In the following sections the necessity of condensation has induced a departure from the exact language of the statutes, but the substance has been given. § 133. Agricultural Fairs.- All county societies which have been or may hereafter be organized are declared bodies corporate and politic, and as such shall be capable of suing and being sued, and of holding in fee simple such real estate as they have heretofore purchased or may hereafter purchase as sites whereon to hold their fairs.1 § 134. Alumni.- The alumni of any college or university, or of one or more colleges of any university, located in this State, may be incorporated.2 § 135. Avenues.- Companies may be incorporated in any county having not less than one hundred thousand inhabitants, for the purpose of constructing avenues in such county.3 § 136. Banks. - Corporations may be formed to carry on the business of banking without the issue of bills or notes for circulation.4 Any number of persons, not less than three, may be incorporated as a bank of discount and deposit.5 On a ratification of this act by a vote of the people in accordance with the constitution of this state, it shall be lawful to form banks and banking associations for the purpose of discount and deposit, and to buy and sell exchange, and do a general banking business, excepting only issuing bills to circulate as money, and shall have power to loan money on personal and real security and accept and execute trusts.6 Any number of persons, not less than five, may form themselves into 1 1 Rev. Stat. Ohio [Giauque], 1890, § 3700. 23 Rev. Stat. New York [Banks & Bros. 8th ed.], p. 2029. 3 1 Rev. Stat. Ohio [Giauque], 1890, § 3822. 4 1 Code of Ala. 1886, p. 369, § 1521. 5 Gen. State Colo. 1883, p. 189, § 271. 6 Laws of Ill. 1887, p. 89. Any a corporation, as a bank of discount and deposit.1 five or more persons may be incorporated as a bank of deposit or discount, or of both deposit and discount, under any name or title designating such business.2 Any number of persons may associate to establish offices of discount and deposit, they must execute a certain certificate.3 § 137. Bar Associations. Any nine or more attorneys or counselors of the Supreme Court of this State, who wish to cultivate the science of jurisprudence, to promote reform in the law, to facilitate the administration of justice, elevate the standard of integrity, honor and courtesy in the legal profession, etc., may be incorporated.* § 138. Breeding Domestic Animals. — Any number of persons, not less than twenty-five, residing in any county of this State, who collectively shall own property of not less than $50,000 in value, $20,000 of which shall consist of insurable live stock which they desire to have insured, may form a corporation for the purpose of mutual live stock insurance against loss by death from any Any number of persons not less than five may form a corporation to raise, improve and breed horses.6 Any number of persons, not less cause. 5 than thirteen, may associate and form a corporation for the purpose of importing, raising and improving and breeding poultry, small birds, domestic and pet animals, and fish culture, and collecting and disseminating useful knowledge, concerning them.7 Any number of persons, not less than five, may form a corporation to import, raise, improve and breed domestic animals.8 § 139. Bridges.- Any number of persons may form themselves into a corporation to construct and own a bridge across any river, creek, or other water-course.9 Any number of persons may be incorporated to construct and own a bridge across any of the rivers and streams forming the boundary of the State of Indiana. 10 Any number of persons, not less than five, may 1 Rev. Stat. Ind. 1888 [Myers & Co.], § 2684. 2 Rev. Stat. Mo. 1889, p. 699, § 2743. 32 Rev. Stat. of New York [Banks & Brothers' 8th ed], p. 1522. 4 3 Rev. Stat. of New York [Banks & Bros. 8th ed.], p. 2031. Laws of Ill. 1887, p. 197. 3 Rev. Stat. of New York [Banks & Bros. 8th ed.], p. 2067. 3 Rev. Stat. of New York [ Banks & Bros. 8th ed.], p. 2074. 8 3 Rev. Stat. of New York [Banks & Bros. 8th ed.], p. 2073. 2 Rev. Stat. Ind. 1888 [Myers & Co.], § 3528. 10 2 Rev. Stat. Ind. 1888 [Myers & Co.], § 3547. incorporate themselves into a corporation to construct and own a bridge or causeway across any stream or channel of water, or adjoining bay, swamp, marsh or water, which it may be necessary to cross to form a continuous roadway.1 tion.2 § 140. Building and Loan Associations. Three or more persons may be incorporated as a building and loan associaAny number of persons not fewer than ten, after at least one hundred shares of stock have been subscribed for, may incorporate themselves for the purpose of organizing a building, loan fund and savings association.3 Any number of persons, not less than five, may become incorporated as a mutual building, loan and homestead association for the purpose of building and improving homesteads and loaning money to the members thereof. Any ten or more persons in any city or county in this State, who shall have associated themselves by articles of agreement in writing, as provided by law, for the purpose of forming a mutual saving fund, loan or building association, may be incorporated under any name or title designating such business.5 Any number of persons, not less than nine, may associate and form an incorporated company to accumulate money to purchase real estate, erect buildings, make improvements on lands or pay off incumbrances thereon, or to aid its members in acquiring real estate, making improvements thereon, and removing incumbrances therefrom, and to accumulate a fund to be its members who do not obtain advances.6 § 141. Building Towns. Where any persons may have heretofore associated themselves together for the purpose of building a town within any county in this State, they may be incorporated.7 § 142. Business Purposes: Mining, Manufacturing, Merchandising, etc. Two or more persons, associating for the purpose of mining, quarrying or manufacturing, may be incorporated.8 Corporations may be formed in the manner provided by this act for any lawful purpose except banking, insurance, real estate brokerage, the operation of railroads and the business of loaning money: Provided, 12 Rev. Stat. of New York [Banks & Brothers' 8th ed.], p. 1509. Code of Ala. 1886, vol. 1, p. 378, §1553. 12 Rev. Stat. Ind. 1888 [Myers & Co ], § 3407. 1 Ill. Annot. Stat. [Starr & Curtis] 1885, p. 629. 51 Rev. Stat. Mo. 1889, p. 715, § 2808. 62 Rev. Stat. of New York [Banks & Bros. 8th ed.], p. 1587. 72 Rev. Stat. Ind. 1888 [Myers & Co.], § 3493. 81 Code Ala. 1886, p. 380, § 1557. that horse and dummy railroads, and organizations for the purchase and sale of real estate for burial purposes only, may be organized and conducted under the provisions of this act: And provided further, that corporations formed for the purpose of constructing railroad bridges shall not be held to be railroad corporations.1 Any three or more persons may be incorporated under any name or title designating such business for the following purposes: First, to carry on any kind of mining, mechanical, chemical, manufacturing, smelting, printing, coal oil or petroleum business; second, to encourage and promote agriculture and the improvement of stock, and for these purposes may establish fair grounds; third, to construct toll bridges; fourth, to erect hotels, halls, market houses, warehouses, exchange and other buildings, and for the purpose of purchasing, owning and renting buildings already erected; fifth, to build wharves, docks, grain elevators, levees, and to construct canals and embankments for the reclaiming of lands; sixth, to convey and transport persons and freights on land or water by any mode of conveyance whatever; seventh, to construct and operate horse railroads; eighth, to purchase and use fire engines, hose, hooks and ladders, and all other apparatus necessary or useful to prevent and extinguish fires; ninth, to supply any town, city, district, neighborhood, or village with gas or water; tenth, to establish steam or other ferries; eleventh, for any other purpose intended for pecuniary profit or gain not otherwise specially provided for, and not inconsistent with the constitution and laws of this State.2 Three or more persons may form a corporation to carry on any kind of manufacturing, mining, mechanical or chemical business, or to furnish motive power to carry on such business; or to supply any city or village with water, or to form union stock yards and transit companies, and operating, maintaining and transacting the business incident to such companies; or to form grain elevator companies, and constructing, maintaining and operating elevators, and transacting the business incident thereto; or to form companies for the purpose of buying and selling dry goods, carpets, boots and shoes, millinery goods, fancy goods, or jewelry, in connection with the manufacture of such goods, and articles, into any articles for which they are suitable, and for the sale of such articles, when they are so manufactured.3 Corporations may be formed for manufacturing, mining, mechanical, chemical, agricultural, horticultural, medical, curative, mercantile or commercial purposes. 1 1 Ill. Annot. Stat. [Starr & Curtis] 1885, p. 609. 21 Rev. Stat. Mo. 1889, pp. 705, 706, §§ 2768, 2771. 3 2 Rev. Stat. Ind. 1888 [Myers & Co.], § 3851. 43 Rev. Stat. of New York [Banks & Bros. 8th ed.], p. 1953. |