or more places where the company may carry on their business. 46. Company may purchase mines, manufactories, etc., and issue stock. § 2. The trustees of such company may purchase mines, manufactories, and other property necessary for their business, and issue stock to the amount of the value thereof in payment therefor; and the stock so issued shall be declared and taken to be full stock, and not liable to any further calls; neither shall the holders thereof be liable for any further payments under the provisions of the tenth section of the said act; but in all statements and reports of the company, to be published, this stock shall not be stated or reported as being issued for cash paid into the company, but shall be reported in this respect according to the fact. 47. Statement of affairs. (Laws of 1854, ch. 201.) § 27. Whenever any person or persons, owning fifteen per cent of the capital stock of any company formed under the provisions of this act, shall present a written request to the treasurer thereof that they desire a statement of the affairs of such company, it shall be the duty of such treasurer to make a statement of the affairs of said company, under oath, embracing a particular account of all its assets and liabilities in minute detail, and to deliver such statement to the persons who presented the said written request to said treasurer within twenty days after such presentation, and shall also at the same time place and keep on file in his office for six months thereafter a copy of such statement, which shall at all times during business hours be exhibited to any stockholder of said company demanding an examination thereof; such treasurer, however, shall not be required to deliver such statement in the manner aforesaid, oftener than once in six months. If such treasurer shall neglect or refuse to comply with any of the provisions of this act, he shall forfeit and pay to the person presenting said written request the sum of fifty dollars, and the further sum of ten dollars for every twenty-four hours thereafter until such statement shall be furnished, to be sued for and recovered in any court having cognizance thereof. 48. Salt companies, when to pay in stock. (Laws of 1857, ch. 29.) SECTION 1. No incorporated company organized or hereafter to be organized for the manufacture of salt, under the "Act to authorize the formation of corporations for manufacturing, mining, mechanical or chemical purposes," passed February seventeenth, eighteen hundred and forty-eight, shall be deemed dissolved, or shall be dissolved, on account of the capital stock of such company not being paid in, the one half within one year, and the other half within two years from the incorporation of such company, provided that such stock shall be paid in within four years from the organization of such company. 49. Extension of existence. § 2. Whenever any company formed under said act shall have fixed the duration of its corporate existence for a less period than it was privileged to do, by the first section of said act, it may by vote of the stockholders, representing a majority of the stock, and upon meeting and acknowledging a new or amended certificate under its corporate seal, signed by the president and two thirds of its directors, and filing the same in the county where its business shall be carried on, and in the office of the secretary of state, extend the term of its corporate existence to a period not longer than it could have originally fixed the same, and shall thereupon possess all the powers and privileges, and be subject to all the liabilities mentioned in the said act during such extension of its existence. 50. Principal place of business. 3. If any company shall be formed under said act, for the purpose of carrying on any part of its business, in any place out of this state, the said certificate shall so state, and shall also state the name of the town and county in which the principal part of the business of said company within this state is to be transacted, and said town and county shall be deemed the town, place and county in which the operations and business of the company are to be carried on, and its principal place of business within the meaning of the provisions of this act. 51. Number of trustees. (Laws of 1860, ch. 269.) SECTION 1. The act entitled, etc., is hereby amended so as to allow corporations to be hereafter organized under said act with not less than three and not more than thirteen trustees, instead of being limited to nine in number, as provided in said act. 52. Trustees, number of, how increased or reduced. § 2. The number of trustees in any corporation heretofore organized under the said act, may be increased to not more than thirteen, as follows: The existing trustees of any such corporation, or a majority thereof, shall make and sign a certificate, declaring how many trustees the corporation shall have in the future management of its business, and stating the names of the new or additional trustees, which certificate shall be acknowledged or proved by a subscribing witness, and shall be filed in the office of the secretary of state, and in the clerk's office of the county where the original certificate of incorporation was filed; and from and after the filing of such certificate the trustees of such corporation shall be deemed increased to the number therein stated, and the persons so named shall be trustees until a new election of trustees shall be had, according to said act and the by-laws or regulations of such corporation.* 53. Powers and Liabilities. (Laws of 1861, ch. 170.) SECTION 1. Section twenty-six of the act entitled "An act to authorize the formation of corporations for manufacturing, mining, mechanical or chemical purposes, passed February seventeenth, eighteen hundred and forty-eight, is hereby amended so as to read as follows: Every corporation created under this act shall possess the general powers and privileges, and be subject to the liabilities and restrictions contained in title third, chapter eighteen, of the first part of the Revised Statutes, and the provision of section six, article first, title two, chapter thirteen, of the first part of the Revised Statutes, shall apply to every such corporation.† 54. Place of Taxation, § 2. No company organized under the provisions of said act to authorize the formation of corporations for manufacturing, mining, mechanical or chemical purposes, shall be deemed or taken to have a principal office or place for transacting its financial concerns other than that, at which the operations of said company are carried on, unless within the month of May, in each year, the president and treasurer, or a majority of the trustees, * As to reduction of number of trustees, see Laws of 1881, ch. 599, ante, Part I., 53. The effect of this amendment is to make the capital stock subject to taxation as provided in said § 6. See Part I., post 277. shall make duplicate certificates, stating the amount of the then capital of said company and the portion of such capital not invested in real estate, and stating that such company then has a principal office for transacting its financial concerns in a county other than that in which the operations of said company are carried on, stating the town or city and county in which such financial office is located, and that the president and treasurer and a majority of the trustees of said company are then actually residents of the town or city in which such financial office is then located, which duplicate certificates shall be signed and sworn to by the persons making the same and filed, the one in the clerk's office of the county, where the operations of said company are carried on, and the other in the clerk's office in which such financial office shall be. And in case in any year such duplicate certificates shall be made and filed as aforesaid, then during the year succeeding the first day of June next, after the filing of such certificates the personal estate of such company shall be assessed only in the town or ward named in said certificates, as that in which such financial office is located. 55. Statement of affairs of company on request. (Laws of 1862, ch. 472, amending Laws of 1854, ch. 201.) SECTION 1. Whenever any person or persons owning five per cent of the capital stock of any company, not exceeding one hundred thousand dollars, or any person or persons owning three per cent of the capital stock of any company exceeding one hundred thousand dollars, formed under the provisions of this act, shall present a written request to the treasurer thereof, that they desire a statement of the affairs of such company, it shall be the duty of such treasurer to make a statement of the affairs of said company, under oath, embracing a particular account of all its assets and liabilities, in minute detail, and to deliver such statement to the person who presented the |