Proviso.

Method of acquisition.

Agreement shall be approved by stockholders.

Certificate to be filled.

No. 272.

AN ACT

To authorize and empower any telephone corporation to buy and own the capital stock of any other or like coporation, and to acquire the franchises, property, rights and credits of the latter, for the purpose of connecting the two into a continuous telephone line.

Section 1. Be it enacted, &c., That it shall be lawful for any telephone corporation to buy and own the capital stock of any other like corporation, and to acquire, in the manner hereinafter provided, and thereafter be possessed of, own, hold, exercise and enjoy all the franchises, corporate property, rights and credits then possessed, owned, held or exercised by said last mentioned vendor corporation, for the purpose of connecting said telephone lines into a continuous telephone system: Provided, That the provisions of this act shall not apply to telephone companies owning or operating, or in any way controlling, competing lines. Section 2. Such acquisition shall be effected in the manner and upon the conditions hereinafter stated, to-wit:

First. The corporations shall, pursuant to resolution duly adopted by the directors of each, make and execute, under their respective corporate seals duly attested, an agreement providing for such terms, stipulations and conditions thereof, and particularly showing the number of outstanding shares of capital stock of the vendor corporation, the amount fixed as the price or value per share thereof, and the mode by which the respective holders shall receive payment for the same, and with a map of the telephone line to be acquired thereunder annexed and made part thereof.

Second. Said agreement shall be submitted for approval or disapproval to the stockholders of each corporation at separate meetings, either annual or special, duly convened after not less than sixty days. notice given by advertisement in at least one newspaper of general circulation, published in each county in which said corporations have their principal offices; and if said agreement shall be approved by a majority of the stockholders of each corporation present at such meeting, then that fact shall be certified by the secretary of each corporation, under its corporate seal, and a copy of the agreement, with said certificates attached, shall be filed in the office of the Secretary of the Commonwealth; and immediately upon the filing thereof all the corporate rights, franchises and privileges, and all the corporate property, real, personal and mixed, rights and credits, owned, possessed, held, used, or otherwise exercised by the vendor corporation, shall (subject, however, to full payment, in the

manner prescribed by said agreement, of the stipulated price or value of the whole capital stock of said vendor corporation), become and be vested in the acquiring corporation, subject to all the debts, liabilities and duties of said vendor corporation, and shall thereafter be possessed, held, used, exercised and enjoyed by said acquiring corporation as fully, completely and absolutely in all respects as the same had been theretofore owned, held, exercised and enjoyed by said vendor corporation; and said acquiring corporation may, also, with respect to the property so acquired, have, exercise and enjoy all the rights, powers, privileges and franchises which it has and may exercise respecting its other lines and property. Upon the filing in the office of the Secretary of the Commonwealth of said copy of agreement and attached certificates, as herein required, the capital stock of said vendor corporation shall be wholly extinguished, by payment in the mode prescribed in the said agreement of the stipulated price or value thereof, and all certificates representative thereof shall be delivered to the acquiring corporation for immediate cancellation; and all the corporate rights, franchises, privileges and property of every kind, acquired under said agreement, shall thereafter be represented by the capital stock of the acquiring corporation, and thereupon the corporate existence of the said vendor corporation shall terminate.

Copy of agree

dence.

Section 3. That the copy of said agreement, with ment to be evisaid certificates attached, filed in the office of the Secretary of the Commonwealth, shall be evidence of the lawful holding of the meetings of stockholders of each corporation, and of the due approval of the said agreement as required by this act, as well as the precedent action of the directors of each approving thereof. If any stockholder or stockholders of the corporation whose franchises, corporate property, rights and creditors are acquired under said agreement, and who did not vote in favor of said agreement, shall be dissatisfied with said acquisition and the terms and conditions thereof contained in said agreement, then it shall and may be lawful for any such stockholder or stockholders, within thirty days after the filing of said agreement in the office of the secretary of the Commonwealth, to apply by petition to the court of common pleas of the county in which the chief office of the said last mentioned corporation may be situated, to appoint three disinterested persons to estimate and ap- Appointment of praise the damage, if any, which such stockholder or stockholders shall suffer or sustain by reason of the purchase and acquisition provided for by said agreement, and whose award or that of a majority of them, Award. when confirmed by the said court, shall be final and conclusive; and the persons so appointed shall also ap

appraisers.

Issue of bonds.

praise the share or shares of said stockholders in the said company at the market value thereof, without regard to any depreciation resulting from said purchase and acquisition; and the said company may, at its election, either pay to the said holder the amount of damages so found or the value of the stock so ascertained, and upon payment of the value of the stock, as aforesaid, the same shall be transferred to and be vested in said acquiring company.

Section 4. In connection with and upon consummation of such acquisition, as aforesaid, the acquiring company may issue its own, then authorized, capital stock, or its own bonds, either or both, at not less than the par or face value thereof, not exceeding the amount authorized by its charter, for the purpose of paying and extinguishing the outstanding capital stock and bonded indebtedness or either, of the corporation whose rights, property and franchises are so acquired. Approved the 14th day of June, A. D. 1901. WILLIAM A. STONE.

$255.33.

Authorizing and directing the Treasurer of the Commonwealth of Pennsylvania to pay to the trustees of the Job Mann Trust the sum of two hundred and fifty-five dollars and thirty-three cents, erroneously paid the Commonwealth of Pennsylvania by said trust.

Section 1. Be it enacted, &c., That the Treasurer of the Commonwealth of Pennsylvania is hereby authorized and directed to pay back or refund to the trustee of the Job Mann Trust, of Bedford county, the sum of two hundred and fifty-five dollars and thirty-three cents, erroneously paid the Commonwealth of Pennsylvania by the said Job Mann Trust.

Approved-The 17th day of June, A. D. 1901.

WILLIAM A. STONE.

No. 274.

AN ACT

To refund to Mary H. Gheen the sum of twenty-five dollars, paid in duplicate for commission as notary public. Section 1. Be it enacted, &c., That twenty-five dollars be appropriated for the reimbursement of Mary

H. Gheen, on account of double payment for commission as notary public, to be drawn by warrant of the Auditor General upon the State Treasurer.

Approved-The 17th day of June, A. D. 1901.

WILLIAM A. STONE.

No. 275.

AN ACT

Authorizing boroughs of this Commonwealth to require the planting of shade-trees along the public streets thereof, by the owners of abutting property, in certain cases.

Section 1. Be it enacted, &c., That the burgess and council of any borough of this Commonwealth, upon the petition of a majority of the property owners upon any public street thereof, may by ordinance require the planting and replanting of suitable shade-trees along and upon either side of any such street, upon such alignment and at such points as may by such ordinance be designated, by the owner or owners of property abutting the street at the points designated; and on failure of any such owner or owners after reasonable notice, to comply with the terms of any such ordinances, the said authorities may cause such trees to be planted or replanted at the expense of the borough; and thereupon, in the name of the borough, collect such expense from the owner or owners in default, as debts of like amount are by law collectible. Provided, That the said authorities shall not require the planting or replanting of trees at any point or points which may interfere with the necessary or reasonable use of any street or abutting property, or interfere unreasonably with any business thereon conducted. Approved-The 17th day of June, A. D. 1901. WILLIAM A. STONE.

Boroughs may re

quire the planting

of shade-trees by

abutting owners.

No. 276.

AN ACT

For the establishment and maintenance of public libraries in cities of the second and third class and in boroughs.

voted on.

Section 1. Be it enacted, &c., That councils may sub- Question to be mit to the qualified voters of the cities of the second and third class and boroughs, at the election to be held

Rate of annual tax.

How to be levied and collected.

Control of.

Creation of bond

ed indebtedness.

Board of library directors.

Appointment of.

Ex-officio members.

Term of office.

Organization of the Board.

Library to be forever free.

on the third Tuesday of February in each year, the question of the establishment and maintenance of a public library in such municipality, and must submit the question, if petitioned for by at least three per centum of the voters registered at the last annual election. At said first mentioned election the question of establishing said public library and the rate of the annual tax, not exceeding two mills on the dollar on all the taxable property in the municipality, shall be submitted and voted upon. A majority of the votes cast on the question shall decide.

Section 2. The rate of tax so voted shall be an annual tax rate until another popular vote is taken changing the same. The tax shall be levied and collected in like manner with the other taxes in the municipality, and shall be in addition to all other taxes. and shall be used for no other purpose than that of establishing and maintaining a public library. The money so raised shall be under the exclusive control of a board of library directors appointed as hereinafter provided.

Section 3. If five per centum of the registered voters of any municipality shall petition councils to submit the question of creating a bonded indebtedness, for purchasing ground and erecting buildings for public library purposes, councils must submit the question. to be voted upon at the next annual election, in the same manner as hereinbefore provided.

Section 4. The affairs of a public library shall be under the direction and control of a board of directors. of not less than five or more than nine, as determined by councils. They shall be appointed from the citi zens at large by the mayor or burgess and confirmed by councils. The first appointees shall be appointed. one-third for one year, one-third for two years, and one-third for three years. The mayor and superintendent of schools of the municipality shall be exofficio members of the board. The terms of office of the members of the board appointed by the mayor or burgess shall be for three years. The board shall be organized by the election of a president and treasurer from its membership, and such other officers and agents as the board may deem necessary. The treas urer shall be required to give bonds.

Section 5. Every library or reading room established under this act shall be forever free to the use of the inhabitants of said municipality or borough where loRules and regula cated, always subject to such reasonable rules and

tions.

regulations as the Board, having the library in charge, may adopt in order to render the use of said library and reading room of the greatest benefit to the greatest number, and said board may exclude from the use of said library and reading room any and all persons