Chapter 500.

An act to amend chapter thirty-three of the private and special laws of eighteen hundred sixty-nine, relating to the Lime Rock Fire and Marine Insurance Company.

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

SECT. 1. Section one of chapter thirty-three of the private and special laws of eighteen hundred and sixty-nine is hereby amended by adding thereto the following words :-'It shall have power to prosecute and defend suits, and actions may be maintained by and against it in the same manner as if the act of incorporation had not expired,' so that said section, as amended, shall read as follows:

'Sect. 1. The corporate powers of the president, directors and company of the Lime Rock Fire and Marine Insurance Company at Rockland, are hereby continued in force for three years from the tenth day of August next, for the purpose of collecting debts due to the corporation for selling and conveying its property, and for making a distribution of the surplus proceeds thereof among its stockholders; it shall have power to prosecute and defend suits, and actions may be maintained by and against it in the same manner as if the act of incorporation had not expired.'

SECT. 2. This act shall take effect when approved.
Approved March 23, 1870.

Chapter 501.

An act to legalize the doings of the town of Grant Isle relating to assessment of taxes.

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

SECT. 1. The acts and doings of the assessors of taxes in the town of Grant Isle, in the county of Aroostook, in assessing all town taxes by them are hereby made valid.

SECT. 2. This act shall take effect when approved.

Approved March 23, 1870.

СНАР. 502.

Corporators.

Name

Powers and privileges.

May hold real and personal estate.

Storage and deposit of produce,

Certificates of deposit.

Chapter 502.

An act to incorporate the Maine Warehouse Company.

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

SECT. 1. Thomas E. Twitchell, William Deering, Russell Lewis, Jeremiah B. Donnell, their associates and successors, are hereby created a body corporate by the name of the Maine Warehouse Company, and by that name may sue and be sued, and are hereby clothed with the powers and privileges hereinafter provided.

SECT. 2. The said corporation may acquire and hold real and personal estate to an amount not exceeding at any one time the sum of three hundred thousand dollars, with full power to manage and dispose of the same for the purposes hereby authorized.

SECT. 3. The said corporation is hereby authorized to receive merchandise, &c. upon storage or deposit in their warehouses or other buildings, grain, flour and merchandise of every kind and description; and all warehouse receipts, certificates or other evidence of the deposit of property issued by said corporation, shall be deemed and held in the hands of bona fide holders thereof, both in law and equity to give such holder a good and sufficient title to the property therein named, without an actual delivery of the property itself.

Bonds and securities, deposit of.

Certificates.

Advance of moneys, &c.

Rules and regulations.

SECT. 4. The said corporation may also receive on deposit public securities; bonds and other evidences of debt, and take the custody and control of the same, and issue certificates or other evidence of such deposit, which shall be deemed and held in the hands of bona fide holders thereof, both in law and equity, to give to such a holder a good and sufficient title to the property therein named without an actual delivery of the property itself.

SECT. 5. The said corporation may advance moneys and grant credits upon property deposited with them, upon such terms as they may prescribe or as may be agreed on by the parties, not in violation of the laws of this state.

SECT. 6. The said corporation may make all necessary and proper rules and regulations respecting the deposit and storage of property, and the collection of charges thereon, and respecting the reimbursement of moneys advanced upon such property. It' Duty and liability shall be the duty of said corporation to use all reasonable care in the keeping of all property deposited with them, but they shall not be subject to any further liability therefor.

of corporation.

Capital stock.

First meeting, how called.

SECT. 7. The capital stock of this corporation shall not be less than fifty thousand dollars, actually subscribed and paid in.

SECT. 8. Any two of the corporators herein named, may call the first meeting of said corporation, by public notice thereof pub

lished in some newspaper in the city of Portland, seven days be- CHAP. 503. fore the said meeting.

SECT. 9. This act shall take effect when approved.

Approved March 23, 1870.

Chapter 503.

An act to authorize the town of Norridgewock to take stock in the Norridgewock bridge.

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

SECT. 1. The town of Norridgewock is hereby authorized in its corporate capacity, to subscribe, pay for and hold stock in the Norridgewock Bridge Corporation, to an amount not exceeding five thousand dollars, and raise money by loan or otherwise necessary for the purpose.

SECT. 2. The authority here given shall not be exercised, until the inhabitants of said town of Norridgewock, at a meeting called for the purpose, shall authorize the same by a two-thirds vote. SECT. 3. This act shall take effect when approved. Approved March 23, 1870.

Chapter. 504.

An act to incorporate the Bridgton Branch Railroad Company.

Be it enacted by the Senate and House of Representatives in Legis

lature assembled, as follows:

SECT. 1. John P. Perley, Charles E. Gibbs, William F. Perry, Corporators. William A. Stevens, F. J. Littlefield, John W. Fowler, George S. Farnsworth, William W. Cross, Robert A. Cleaves, Luther Billings, Albert Fogg and George Taylor, their associates, successors and assigns, are hereby made and constituted a body politic and corporate by the name of the Bridgton Branch Railroad Company, and Name. by that name may sue and be sued, plead and be impleaded, and shall enjoy all proper remedies at law or in equity to secure and protect them in the exercise and use of the rights and privileges Rights and and in the performance of the duties hereinafter granted, and to prevent all invasion thereof or interruption in exercising and performing the same. And the said corporation is hereby authorized and empowered to locate and construct and finally complete, alter Location and and keep in repair, a railroad, with one or more sets of rails or tracks, with all suitable bridges, tunnels, viaducts, turnouts, cul

privileges.

route.

location, construction and operation of road.

May remove gravel, stone, timber, &c.

Proviso.

In case of disagreement, damages shall be ascertained by county commissioners.

CHAP. 504. verts, drains and all other necessary appendages from some point in the town of Bridgton to some point on the line of the Portland and Ogdensburg Railroad. And said corporation shall be and hereby is invested with all the powers, privileges and immunities which are or may be necessary to carry into effect the purposes and objects of this act as herein set forth. And for this purpose May take land for said corporation shall have the right to take and hold, or to purchase so much of the land and other real estate of private persons and corporations as may be necessary for the location, construction and convenient operation of said railroad; and shall also have the right to take, remove and use for the construction and repair of said road and appurtenances any earth, gravel, stone, timber or other materials on or from the land so taken; provided however, the land so taken shall not exceed six rods in width except where greater width is necessary for the purpose of excavation and embankment. And provided also in all cases said corporation shall pay for such lands, estate or materials such price as they and the respective owner or owners thereof may mutually agree upon, and in case said parties shall not otherwise agree the said corporation shall pay such damages as shall be ascertained and determined by the county commissioners of the county of Cumberland or Oxford in the same manner and under the same conditions as are by law provided in the case of laying out highways. And the land so taken by said corporation shall be held as lands taken and appropriated for highways. And no application to said commissioners to estimate said damages shall be sustained unless made within three years from the time of taking such lands and other property; and in case said railroad shall pass through any woodland or forests the said company shall have the right to remove or fell any of the trees standing thereon within four rods from such road which by their liability to be blown down or from their natural falling might obstruct or impair said railroad, by paying a just Compensation to compensation therefor, to be recovered in the same manner as is provided for the recovery of the other damages recovered in this act. And furthermore said corporation shall have all the powers, privileges and immunities and be subject to all the duties and liabilities provided respecting railroads in chapter fifty-one of the revised statutes not inconsistent with the express provisions of this charter, and subject also to all the provisions of chapter thirty-six of the laws of eighteen hundred and fifty-eight relating to the safety and convenience of travellers on railroads.

Application for estimate of damages to be made within three

years.

Trees standing within four rods of road may be removed.

be paid therefor.

Powers, privileges and liabilities.

Capital stock and shares.

Directors, how chosen.

SECT. 2. The capital stock of said corporation shall consist of not less than seven hundred and fifty shares and not more than three thousand shares, and the immediate government and direction of the affairs of said corporation shall be vested in five, seven or nine directors, who shall be chosen by the members of said cor

poration in the manner hereinafter provided, and shall hold their CHAP. 504. offices until others shall be chosen and duty elected and qualified

to take their places, a majority of whom shall be a quorum for the Quorum. transaction of business. And they shall elect one of their number

and treasurer.

to be president of the board, and he shall also be president of the President, clerk corporation, and shall have authority to choose a clerk and a treasurer who shall give bonds to the corporation in the sum of ten Bond of treasurer. thousand dollars for the faithful discharge of his trust. And any six of the persons named in the first section of this act are hereby authorized at an election holden for that purpose, with or without Acceptance of notice, to accept this act and organize the said corporation.

act.

SECT. 3. Said corporation shall have the power to make, ordain By-laws. and 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 or

directors, powers

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 for the transportation of persons, goods and property of all descriptions, and all such power and authority for the management of the affairs of the corporation as may be necessary 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 on all the shares in said corporation Assessments. as they may deem it necessary and expedient in the execution and progress of the work, and direct the same to be paid to the treasurer of the corporation. And the treasurer shall give notice of all such assessments, and 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 aforesaid, to the highest bidder, and the same shall be transferred to the purchaser, and such delinquent subscriber or stockholder shall be held accountable to the corporation for the balance if his share or shares shall sell for less than the assessments 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 interest and costs of sale; provided however, that no assessment shall be laid upon any share in said corporation of a greater amount on the whole than one hundred dollars.

Treasurer to give

notice of assess

ments.

Neglect to pay,

shares may be

sold by auction.

Overplus, how disposed of.