CHAP. 243 Guarantee fund. Taxation of shares. Examination by bank examiner. Notice of first meeting, how called. corporation, to a sum equal to the amount of the par value of the shares owned by each, in addition to the amount invested in said shares. Section 12. Said corporation shall set apart as a guaranty fund not less than ten per cent of its net earnings in each and every year until such fund with the accumulated interest thereon, shall amount to one-fourth of the capital stock of the company. The said surplus shall be kept to secure against losses and contingencies, and whenever the same becomes impaired it shall be reimbursed in the manner provided for its accumulation. Section 13. The shares of said corporation shall be subject to taxation in the same manner and at the same rate as are the shares of national banks. Section 14. Said corporation shall be subject to examination by the bank examiner, who shall visit it at least once in every year, and as much oftener as he may deem expedient. At such visits he shall have free access to its vaults, books and papers, and shall thoroughly inspect and examine all the affairs of said corporation, and make such inquiries as may be necessary to ascertain its condition and ability to fulfill all its engagements and whether it has complied with the law, and its officers shall, whenever required to do so by the bank examiner, furnish him. with statements and full information relating to the condition and standing of their institution, and of all matters pertaining to its business affairs and management. Section 15. Any three of the corporators named in this act may call the first meeting of the corporation by mailing a written notice, signed by all, postage paid, to each of the other corporators, seven days at least before the day of the meeting, naming the time, place and purpose of such meeting, and at such meeting the necessary officers may be chosen, by-laws adopted, and any other corporate business transacted. Section 16. This act shall take effect when approved. Approved March 17, 1905. CHAP. 244 Chapter 244. An Act to amend and enlarge the corporate powers and purposes of Be it enacted by the Senate and House of Representatives in made valid. Section 1. The proceedings of the incorporation and organ- Proceedings ization of the Greenville Light and Power Company are hereby confirmed and made valid. Section 2. Said corporation is hereby authorized and empowered to extend its transmission lines into township number three, range five, Bingham's Kennebec Purchase, east of the Kennebec river, commonly known as Little Squaw Mountain township, and such extension may be used for all the purposes authorized for its charter. Section 3. Said company is hereby authorized and empowered to operate and maintain a stone crushing station and to engage in the sale of crushed stone for municipal and other purposes. Section 4. The corporate purposes of said company as stated in its certificate of organization are hereby amended and enlarged, and said company is hereby empowered to supply the inhabitants of the town of Greenville, and of said township number three, range five, Bingham's Kennebec Purchase east of the Kennebec river, commonly known as Little Squaw Mountain township, with water for all domestic, sanitary, municipal and commercial purposes, with all the rights and privileges and subject to all the liabilities and obligations of corporations organized under the general laws of this state for the purpose of supplying water for such purposes. Section 5. Said corporation may take and hold by purchase or otherwise, real and personal estate necessary and convenient to the purposes aforesaid not exceeding one hundred thousand dollars. Authorized to lines. extend its Authorized to maintain a stone crusher. May take from certain water supply sources. May maintain Section 6. For any of the purposes aforesaid or for the preservation of the purity of said water, the said corporation is hereby authorized to take and use water from springs, ponds or streams in Little Squaw Mountain township in the county of Piscataquis, to conduct aforesaid, to survey for, locate, erect and maintain, suitable dams, reservoirs, machinery, pipes, aque- dams, etc. ducts and fixtures; to carry its pipes or aqueducts under or over any water course, bridge, street, railroad, highway or other way; and said corporation is further authorized to enter upon and excavate any highway or other way, in such a manner as to least obstruct the same; to enter, pass over and excavate any --may enter highways, upon CHAP. 244 Shall fille plans of location. Manner of crossing railroads to be determined by R. R. com. missioners. Liability for damages. lands, and to take and hold by purchase or otherwise, any real estate, rights of way or of water, and in general do any acts necessary, convenient or proper for carrying out any of the purposes hereinbefore specified. And said corporation is further authorized for the purpose of making all needed repairs or service connections, to lay its pipes through any public or private land or ways, with the right to enter upon the same and dig therein; and said corporation may establish written regulations for the use of the water aforesaid, and change the same from time to time. Section 7. Said corporation shall file in the registry of deeds, in the county of Piscataquis, plans for the location of all land and water rights taken under the provisions of this act, and no entry shall be made on any lands except to make survey, until the expiration of ten days from said filing. Section 8. In case of failure to agree with any railroad company, as to place, manner and conditions of crossing its railroad with such pipe, the place, manner and conditions of such crossings shall be determined by the railroad commissioners, and all work within the limits of the railroad location and lands, shall be done under the supervision and to the satisfaction of the officers and agents of the railroad company, but at the expense of the said water company. Section 9. Said corporation shall be held liable to pay all damages that shall be sustained by any persons, to themselves or their property, occasioned by the use of such streets and ways, and shall pay to said town all sums recovered against said town for damages from obstructions caused by said corporation, and for all expenses including reasonable counsel fees incurred in defending said suits with interest on the same, but said corporation may assume the defense of all suits brought to recover damages as aforesaid; and also for damages sustained by any persons by the taking of any lands, water, right of way, or other property, or by excavating through any land for the purpose of surveying, locating, laying or building dams, reservoirs, pipes, aqueducts, and for any other injuries resulting from said acts, and if any person sustaining damages as aforesaid, shall not agree with said corporation upon the sum to be paid therefor, either party on petition to the county commissioners of Piscataquis county within twelve months after said plans are filed, may have said damages assessed by them, and subsequent proceedings and right of appeal thereon, shall be had in the same manner and under the same conditions, restrictions and limitations as are by law prescribed in the case of damages by the laying out of highways. CHAP. 245 May lay pipes, etc. Section 10. Said corporation is hereby authorized to lay down and maintain in and through the streets and highways of the town and township aforesaid, all such pipes, aqueducts and fixtures as may be necessary for the purposes hereinbefore specified. Said Greenville and the inhabitants of Little Squaw --may Mountain township are hereby authorized to contract with said corporation for a supply of said water for fire and other purposes, for a term of years, and at the expiration of such a contract to change or renew the same. contract to supply water. bonds. Section II. Said corporation is hereby authorized and May issue empowered to issue is bonds for the purposes of its business on such rates and time as it may deem expedient, and secure the payment of the principal and interest on such bonds by proper mortgages or deeds of trust on any or part of its property, franchises, rights and privileges now owned or to be hereafter acquired by it. Section 12. This act shall take effect when approved. Approved March 17, 1905. Chapter 245. An Act to permit ice fishing in Fourth Buttermilk and Little Benson Be it enacted in the Senate and House of Representatives in It shall be lawful for residents of this state to fish for and take fish through the ice during the month of February of each year, as provided in the general law, in Fourth Buttermilk and Little Benson ponds, in the county of Piscataquis. Approved March 17, 1905. Ice fishing permitted in Fourth Buttermilk and Little Benson ponds. Chapter 246. An Act to Prohibit Fishing at all times in the tributaries of Squa Pan Be it enacted in the Senate and House of Representatives in Close time for fishing in lake. It shall be unlawful to fish for, take, catch or kill at any time in any way any kind of fish in the inlet stream, so called, to Squa Squa Pan Pan lake in Aroostook county, or in the east branch of said inlet, so called, above what is known and called Thomas Thibadeau's lower landing, under the same penalty as is provided in the general law for illegal fishing. Approved March 17, 1905. CHAP. 247 Corporators. --corporate name. Location. Purposes. -to receive deposits. -to borrow money, etc. -to maintain safe deposit vaults. Chapter 247. An Act to incorporate the Old Town Trust Company. Be it enacted in the Senate and House of Representatives in Legislature assembled, as follows: Section 1. E. W. Conant, Albert H. Brown, George H. Richardson, Josiah W. Harmon, C. J. McLeod, Eben C. Webster, Edgar B. Weeks, C. M. White, David Carr, George A. Gray, or such of them as may by vote accept this charter, with their associates, successors and assigns, are hereby made a body corporate and politic to be known as the Old Town Trust Company, and as such shall be possessed of all the powers, privileges and immunities and subject to all the duties and obligations conferred on corporations by law. Section 2. The corporation hereby created shall be located at Old Town, Penobscot county, Maine. Section 3. The purposes of said corporation and the business which it may perform are; first, to receive on deposit, money, coin, bank notes, evidences of debt, accounts of individ uals, companies, corporations, municipalities and states, allowing interest thereon, if agreed, or as the by-laws of said corporation may provide; second, to borrow money, to loan money on credits, or real estate, or personal security, and to negotiate loans and sales for others; third, to own and maintain safe deposit vaults, with boxes, safes, and other facilities therein, to be rented to other parties for the safe keeping of moneys, securities, stocks, jewelry, plate, valuable papers and documents, and other property susceptible of being deposited therein, and may receive on deposit for safe keeping, property of any kind entrusted to it for that purpose; fourth, to act as agent for issuing, registering and countersigning certificates, bonds, stocks, and all evidences of debt or ownership in property; fifth, to hold by grant, assignment, transfer, devise or bequest, any real or execntor, etc. personal property or trusts duly created, and to execute trusts of every description; sixth, to act as assignee, receiver, executor, and no surety shall be necessary upon the bonds of the corporation, unless the court or officer approving such bond shall require it; seventh, to do in general all the business that may lawfully be done by trust and banking companies. -to act as agents, etc. -to execute trusts. --to act as --to do a general banking business. Capital stock. -shall not commence business until $50,000 shall have been paid in. Section 4. The capital stock of said corporation shall not be less than fifty thousand dollars, divided into shares of one hundred dollars each, with the right to increase the said capital stock at any time, by vote of the shareholders, to any amount not exceeding five hundred thousand dollars. Said corporation: shall not commence business as a trust or banking company, |