chosen, &c.

shares, and the immediate government and direction of said cor- CHAP. 436. poration shall be vested in five, seven or nine directors, who shall Directors, how be chosen by the members of said corporation, in the manner hereinafter provided, and shall hold their offices until others shall have Term of office. been duly elected and qualified to take their places, a majority of whom shall be a quorum for the transaction of business. They Quorum. shall elect one of their number to be president of the corporation, President and and shall have authority to choose a clerk and treasurer, who shall Treasurer and give bonds to the corporation in the sum of ten thousand dollars, for the faithful discharge of his trust. And any three of the persons named in the first section of this act are hereby authorized at Acceptance of a meeting held for that purpose, with or without notice, to accept this act and organize the said corporation.

clerk.

bond.

act.

SECT. 3. Said corporation shall have power to make, ordain and By-laws. establish all necessary by-laws and regulations consistent with the constitution and laws of this state, for their own government, and for the due and orderly conducting of their affairs and the management of their property.

President and of

directors, powers

notice of.

SECT. 4. The president and directors for the time being, are hereby authorized and empowered by themselves or their agents to exercise all the powers herein granted to the corporation, for the purpose of locating, constructing and completing said railroad and bridge, and for the transportation of goods, persons and property of all descriptions, and all such power and authority for the management of the affairs of the corporation as may be necessary and proper to carry into effect the objects of this grant; to purchase and hold land, materials, engines and cars and other necessary things, in the name of the corporation, for the use of said road, and for the transportation of persons, goods and property of all descriptions; to make such equal assessments from time to time Assessments, on all the shares in said corporation, as they may deem necessary and expedient in the execution and progress of said work, and direct the same to be paid to the treasurer of the corporation; and the treasurer shall give notice of all such assessments. In case any subscriber or stockholder shall neglect to pay any assessment on his share or shares for the space of thirty days after such notice is given, as shall be prescribed by the by-laws of said corporation, the directors may order the treasurer to sell such share or shares at public auction, after giving such notice as may be prescribed as Notice and pro aforesaid, to the highest bidder, and the same shall be transferred to the purchaser, and such delinquent subscriber shall be held accountable to the corporation for the balance, if his share or shares shall sell for less than the assessments due thereon, with the interest and costs of sale, and shall be entitled to the overplus, if his share or shares shall sell for more than the assessments due with the interest and cost of sale; provided however, that no assessment

Neglect to pay, sold by auction.

shares may be

ceedings.

CHAP. 437.

Toll granted.

Rate.

shall be laid upon any share in said corporation of a greater amount in the whole than one hundred dollars.

SECT. 5. A toll is hereby granted and established for the sole benefit of said corporation, upon all passengers and property of all descriptions, which may be conveyed or transported by them upon said road, at such rate as may be agreed upon and established from time to time by the direction of said corporation. The transTransportation of portation of persons and property, the construction of wheels, the persons and property, construction form of cars and carriages, the weight of loads, and all other matters and things in relation to said road shall be in conformity with such rules, regulations and provisions as the directors shall from time to time prescribe and direct.

of wheels, form of cars, &c.

Annual meeting.

Directors, choice of.

Connections with other roads authorized.

SECT. 6. The annual meeting of said corporation shall be holden on the first Monday of November, or such other day as shall be determined by the by-laws, at such time and place as the directors for the time shall appoint, at which meeting the directors shall be chosen by ballot, each person by himself or proxy being entitled to as many votes as he may hold shares; and the directors are hereby authorized to call special meetings of the stockholders whenever they shall deem it expedient and proper, giving such notice as the corporation by their by-laws may direct.

SECT. 7. This corporation is hereby invested with the power to make connection with any other road or roads, and on such terms as the members may deem expedient and proper; and it is hereby authorized to lease the road, either before or after it shall have been completed, on such terms, and for such time as the members at a meeting regularly called for the purpose shall determine. SECT. 8. This act shall take effect when approved.

Approved March 5, 1870.

Corporators.

Name.

Chapter 437.

An act to incorporate the Kennebec Savings Bank.

Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows:

SECT. 1. Russell Eaton, W. F. Hallett, O. C. Whitehouse, J. W. Patterson, Joseph Baker, A. B. Farwell, L. W. Lithgow, John Dorr, Orrin Williamson, William H. Libby, Oliver Gould, Deane Pray, Thomas Little, J. L. Adams, G. C. Vose, Henry Boynton, Edward F. Wyman, Samuel W. Lane, W. P. Whitehouse, George E. Weeks and Henry S. Osgood, their associates, successors and assigns, are hereby constituted a body politic and corporate by the name of the Kennebec Savings Bank, and by that name may

prosecute and defend suits at law and in equity, may have and CHAP. 438. use a common seal, and establish such by-laws, rules and regula- By-laws. tions as are necessary for the convenient management of their concerns and not repugnant to the laws of the state.

Said corpo

and liabilities.

ration shall have its place of business at Augusta, in the county Location. of Kennebec, and shall be subject to all the duties and liabilities Rights, privileges and enjoy all the rights and privileges conferred upon similar institutions by the laws of this state.

SECT. 2. Said corporation is hereby authorized to receive deposits of money and issue certificates therefor, and such deposits of money shall be used as they shall deem for the best interest and benefit of said corporation, and may be withdrawn at such reasonable times and in such manner as said corporation shall appoint.

May receive deSuch deposits the interest and corporation.

posits in money. shall be used for

benefit of the

May be withdrawn at reasonable times.

First meeting,

SECT. 3. Russell Eaton, named herein, is authorized to call the first meeting of said corporation by giving notice of the time and how called. place thereof in any newspaper published in Augusta seven days before the time appointed for said meeting.

SECT. 4. The annual meeting shall be holden in the month of Annual meeting. May, and at that meeting and all other meetings it shall require seven persons at least to constitute a quorum for the transaction

of business, and meetings may be called at any other times and in such manner as the corporation may provide.

SECT. 5. This act shall take effect when approved.

Approved March 7, 1870.

Chapter 438.

An act to incorporate the Wassataquoik Dam Company.

Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows:

SECT. 1. John A. Peters, M. S. Drummond, Charles D. Bryant, Corporators. Eben S. Coe, Isaiah Stetson, George Stetson, John Appleton, Franklin A. Wilson, Samuel H. Dale, Thomas W. Porter, Eugene Hale, T. H. Drummond, David Fuller, Charles B. Wyman, Edward G. Wyman and J. W. Porter, and their associates, successors or assigns, are hereby incorporated under the name of the Wassataquoik Dam Company, with all the powers incident to similar corpo- Name. rations, with authority to build dams and sluices, and clear out Powers. and otherwise improve the Wassataquoik stream, in the counties of Piscataquis and Penobscot, all to be done in a good and sufficient manner, to facilitate the passage of logs down said stream.

SECT. 2. A toll is hereby granted on all logs cut on township number four, range nine, of thirty cents per thousand feet, board

Toll granted for

the passage of

logs and lumber.

Lien created on logs and lumber for payment of toll.

CHAP. 439. measure, and upon all logs cut on township number three, range eight, and number four, range eight, seventeen cents per thousand Expenditures on feet, board measure; and all sums expended on said improvements improvements, how apportioned. shall be expended as near as practicable in the same proportion as the tolls upon each township herein mentioned. Said toll or tolls to be payable when said logs or the majority of any lot shall arrive in Penobscot boom; and said company shall have a lien on all logs for said toll, which shall continue until the same shall be paid; and in case of non-payment within ten days after arrival in said boom, the treasurer of said company may at any time afterward, by giving ten days notice in any daily newspaper published in Bangor, sell at public auction, either by himself or any acting auctioneer, so many of the logs of any particular mark as will pay the tolls on that mark and all expenses. Such sale shall be valid without first seizing said logs for the purpose, and the purchaser shall be entitled to take the quantity purchased, wherever the same may be found.

Unless paid with

in a certain time,

may sell the same

at auction, after notice.

When the rate of toll shall be reduced.

Bills and expenses

of company to be

and audited by land agent.

When the costs of all said dams and improvements and all expenses, with twelve per cent. annual interest, is received by said company, said tolls shall be reduced to a sum sufficient to keep said works up and in repair and take care of them.

SECT. 4. The land agent shall be a commissioner to audit the kept by treasurer, bills and expenses of the company, which shall be kept by the treasurer of the said company, whose decision shall be conclusive as to when the tolls may be reduced under the provisions aforesaid. John A. Peters or J. W. Porter may call the first meeting of said company, by notice in hand or by mail.

First meeting, how called.

SECT. 5. This act shall take effect when approved.

Approved March 7, 1870.

Moneys, notes, bonds and securities, division of, authorized.

Chapter 439.

An act authorizing the towns of Dixfield and Mexico to divide their ministerial and school fund.

Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows:

SECT. 1. All moneys, notes, bonds, and securities, that have arisen from the sales and leases of the ministerial and school lands, in the towns of Dixfield and Mexico, by virtue of the act passed February twenty-fourth, in the year of our Lord one thousand eight hundred and twenty-three, authorizing the lease and sale of the same, by trustees therein named, may by vote of said towns, in town meetings duly and legally called for the purpose, be divided

Authorized to

apply proceeds to

any legal purpose.

between said towns in proportion to the interest of each town in CHAP. 440. the same, and in such manner as said towns may determine. SECT. 2. Each town is hereby authorized to apply its portion of moneys, notes, bonds and securities, to any legal purpose or purposes as they may by vote determine, and shall have the right to collect the same by action of the case, in the name of the town Collection of same, how made. possessing the same, in any court proper to try the same, after notifying the person or persons owing the same of the aforesaid division, and demanding payment of the same, if then due and payable to the trustees of the ministerial and school fund of said towns. And the said trustees, for the purpose aforesaid, shall Trustees, duties cause to be delivered to the said towns the aforesaid moneys, notes, bonds and securities on demand of such person or persons

as shall be authorized by said towns to receive the same.

of.

SECT. 3. All acts or parts of acts inconsistent with the pro- Acts inconsistent, visions of this act are hereby repealed.

SECT. 4. This act shall take effect when approved.

Approved March 7, 1870.

repealed.

Chapter 440.

An act to authorize the building of a dyke or dam across Dyke Branch stream, in the town of Columbia, county of Washington.

Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows:

SECT. 1. D. M. Nash, J. L. Nash, Abraham Nash, Hannah C. Merritt, M. A. Merritt, P. W. Look, J. C. Coffin and Phebe 0. Hill, their heirs and assigns, are hereby authorized and empowered to build and maintain a good and sufficient dyke or dam across Dyke Branch stream, in Columbia, in the county of Washington, on the site of the old dyke below the bridge that crosses said stream.

Authorized to build dyke or dam.

SECT. 2. The persons named in section one may make such by- By-laws. laws, not repugnant to the laws of the state, as may be necessary to carry out the objects of this act.

whom paid.

SECT. 3. All persons whose land is benefited by said dyke shall Expenses, by pay their proportional part according to the number of acres receiving such benefit.

SECT. 4. This act shall take effect when approved.

Approved March 7, 1870.