thousand dollars, owned at any one time; and to give and CHAP. 14 grant, bargain and sell, or mortgage the same; and with all the powers and privileges usually granted to other societies instituted for the purposes of charity.' Approved January 29, 1891. Chapter 14. An Act to authorize the Waterville Water Company to issue bonds. Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: Authorized to issue bonds and property. SECT. 1. The Waterville Water Company is authorized for the purposes of its charter to issue such additional bonds, mortgage from time to time, in such form and amount and on such time and rates as it may deem expedient, and to secure the same by appropriate mortgage or mortgages of its property and franchise. SECT. 2. The said corporation is further authorized to issue its consolidated mortgage bonds, on such time and rates as it may deem expedient, in amount sufficient to retire all its bonds then outstanding and to provide for the purposes of its charter, and to secure the same by mortgage of its property and franchise. SECT. 3. This act shall take effect when approved. Approved January 29, 1891. Authorized to issue consoli dated bonds, other bonds. and retire all Chapter 15. An Act to confer certain powers upon the county commissioners of the county of Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: SECT. 1. The county commissioners of the county of Cumberland, and the city council of the city of Portland are hereby authorized and empowered by contract to release and convey each to the other upon such terms as may be agreed, all or any part of the respective interest and title of said. county and of said city, in the property at the corner of Con County and city council, commissioners authorized to convey title to city hall and court house. CHAP. 16 County commissioners, may act for county. County and city respectively, may issue bonds. gress and Myrtle streets, in the city of Portland, known as the city hall and court house, and said property shall thereafter be held in severalty, as may be agreed upon between said county and said city, the interest of each to be free and discharged of all interest or title in the other. SECT. 2. The county commissioners of said county are hereby authorized and empowered to represent and act for said county, in all things that may be done under the provisions of section one. SECT. 3. Said commissioners of said county of Cumberland and said city of Portland are each hereby respectively authorized and empowered to issue bonds to such an amount as may be necessary to provide the funds required for the purposes aforesaid, not however, to exceed the constitutional limitation. SECT. 4. This act shall take effect when approved. Approved February 2, 1891. Organization of, and doings of company, ratified and confirmed. Chapter 16. An Act to confirm the powers and acts of the United Electric Securities Company. Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: SECT. 1. The United Electric Securities Company, a corporation organized under chapter forty-eight of the revised statutes of Maine, on the twentieth day of May, in the year of our Lord eighteen hundred and ninety, for certain purposes as defined in its certificate of organization made and recorded as provided by law in the office of the secretary of state on the twenty-third day of May, in the year of our Lord eighteen hundred and ninety, having commenced business in accordance with said purposes, is hereby fully authorized and empowered to carry on its said business, and to have and exercise all the powers and privileges specified in its said certificate of organization; and all the acts and doings, both of the stockholders and of the directors of said corporation, so far as the same may appear of record and conform to the purposes of said organization are hereby ratified and confirmed, and shall have all the validity and force which they could have had if said purposes, powers and privileges had been defined and granted CHAP. 17 in a special act creating said corporation. SECT. 2. This act shall take effect when approved. Approved February 2, 1891. Chapter 17. An Act authorizing the Westbrook Manufacturing Company to issue preferred stock. Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: Manufacturing authorized to issue preferred stock. SECT. 1. The Westbrook Manufacturing Company is Westbrook authorized to issue its preferred stock, at such times, for Company, such amounts, with such rates of dividend, and upon such terms and conditions, as a majority of the stockholders present at meetings legally called therefor, may from time to time direct; but all said issues shall not exceed in the whole the limit. sum of two hundred thousand dollars. SECT. 2. Every holder of the common stock of the Westbrook Manufacturing Company shall have the right to take for himself, or his assigns, the same share of any preferred stock which may at any time be issued, which his own common stock bears to the whole common stock of the corporation, at the prices at which said preferred stock may be sold, and before any preferred stock is issued the directors of the corporation shall make reasonable provision securing the right guaranteed by this section, and providing in the usual manner negotiable certificates for fractional rights. SECT. 3. This act shall take effect when approved. Approved February 2, 1891. Holders of common stock, may take equal preferred stock. amount of 2 СНАР. 18 Kennebec Light and Heat Company, authorized to bonds, and issue others instead Chapter 18. An Act additional to and amendatory of chapter twenty-nine, special laws of eighteen hundred and eighty-seven, entitled "An Act to incorporate the Kennebec Light and Heat Company." Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: SECT. 1. The Kennebec Light and Heat Company is hereby authorized and empowered to take up, cancel and retire retire mortgage the bonds already issued, and the mortgage securing the same, and in lieu thereof issuing bonds for the payment of or the refunding of its indebtedness and for the further construction of its works for such an amount, and upon such rate and time as it may deem expedient and necessary, not to exceed the sum of fifty thousand dollars in addition to the amount of its present bonded debt heretofore authorized, and to secure the same by a mortgage or deed of trust of the franchises, property and estate owned by, or to be hereafter acquired by said corporation, but such mortgage shall not diminish the security of the bonds heretofore issued by said corporation remaining unpaid. SECT. 2. This act shall take effect when approved. Approved February 2, 1891. Company, empowered to rebuild dam. Chapter 19. An Act additional to "An Act to incorporate the Heron Lake Dam Company." Be it enacted by the Senate and House of Representatives in Legislature assembled, as follows: SECT. 1. Whereas under the authority conferred by the second section of said act incorporating said company, it built a dam on the Allegash river below Churchill lake, which is not now used in connection with getting logs and lumber into Chamberlain lake, and thence down Penobscot river. Now until said dam shall be again wanted for the purpose of getting logs and lumber into Chamberlain lake, and thence down the Penobscot river, the said company is hereby authorized and empowered to rebuild or repair said dam and maintain it at such a height as shall facilitate the passage of logs and lumber northward over said dam and thence down the Allegash and Saint John rivers. May receive lien on logs, and how enforced. SECT. 2. The said company shall be entitled to demand CHAP. 19 and receive a toll of twenty-five cents per thousand feet, tolls. board measure, on all logs and lumber passing over or through its said dam northward, said toll to continue until the cost of repairing or rebuilding said dam and maintaining the same, with interest at six per cent shall have been repaid. To secure said toll said company shall have a lien on all logs and lumber which may pass said dam as aforesaid, and if the same shall not be paid within ten days after the arrival of the logs or lumber on which the same shall be due, or the greater portion thereof at Fredericton boom, the said company may advertise the sale of logs and lumber to pay the toll and incidental expenses three weeks successively in one of the newspapers printed in Bangor, Maine, and in one of the newspapers printed in Fredericton, New Brunswick, the last publication to be at least ten days before the time appointed for such sale, and if payment shall not be made before the time appointed, said company may proceed to sell logs and lumber to pay said toll and incidental expenses, but only the logs of any particular mark shall be holden and sold for the toll of such particular mark; and should a sum be realized from the sale of such logs and lumber in excess of the amount of such toll and incidental expenses, such excess shall be paid by said company to the owner of the logs and lumber sold. SECT. 3. Whenever said dam shall be again wanted in connection with getting logs or lumber into Chamberlain lake, and from thence down the Penobscot river, said company may raise said dam so far as shall be necessary for that purpose, and restore and repair the other works and improvements authorized for said purpose by said act incorporating said company and acts additional thereto, and in that case said company shall be entitled to demand and receive the same toll on all logs and lumber which may pass over and through its dams, locks and works into Chamberlain lake, as was granted it in and by an act approved March nineteenth, eighteen hundred and sixty, entitled "An Act additional to an act to incorporate the Heron Lake Dam Company." Approved Februray 2, 1891. Dam may be raised, when necessary. |