SECTION 2. This act shall take effect and be in force

from and after its passage.

Approved February 13, 1868.

CHAPTER 52.

AN ACT to incorporate the Milwaukee ice company.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

franchises.

SECTION 1. From the time this act shall take effect, Corporators. Henry Kroeger, Henry Gorsch, John Knoell, Victor Schuette, William Green and such other persons as shall hereafter become stockholders in the company hereby incorporated shall be a body corporate and politic by the name of the "Milwaukee ice company." Name. SECTION 2. The corporation hereby created shall Powers and have power to sue and be sued, plead and be impleaded, answer and be answered unto, defend and be defended, in any and all courts and places, and also to contract and be contracted with, under the name aforesaid, and shall have full power to acquire and hold, sell, lease and convey real estate in any place determined upon by the directors of said ice company, within the county of Milwaukee, or elsewhere within this state, as far as may be necessary and proper for the location and building of ice houses, and the construction of boats or barges to contain the ice belonging to said company, and they may have a common seal which may be altered or renewed at pleasure.

SECTION 3. The capital stock of said company Capital stock. shall not exceed fifty thousand dollars and shall be divided into shares of twenty-five dollars each, to be subscribed and paid for in such proportions and at such times as shall be prescribed by the by-laws and rules regulating the affairs of said company.

tors.

SECTION 4 The property and concerns of the said Board of direc company shall be managed by a board of directors consisting of not less than three nor more than five persons, who shall be stockholders of said company. Henry Kroeger, Henry Gorsch, Victor Schuette, John Knoell 5 P. &L LAWS.

First meeting.

directors.

and William Green shall be the first directors of said company, and shall continue in office until their successors are chosen. The first meeting of said directors shall be held at the city of Milwaukee, at such time and place therein as shall be agreed upon by a majority of said directors named in this section, and upon due notice having been given to all of the same of such of election of time and place. At all elections of directors each share of stock issued in accordance with the by-laws of said corporation, shall entitle the owner thereof to one vote. In case of fail. If it shall at any time happen that an election of directors shall not be made on any day, when pursuant to this act or of the by-laws of said corporation, it ought to have been made, the said corporation shall not for that cause be deemed to be dissolved, but it shall be lawful on any other day to hold and make an election in such manner as shall be provided in the by-laws of said corporation; and in case of vacancy by death or resignation of any director his place may be filled by the board of directors.

ure to elect,how to proceed.

Officers of the board.

Business of the corporation.

Privileges of the stockholders.

SECTION 5. At the first meeting of the said directors named, there shall be chosen by them or a majority of them, a secretary, treasurer and superintendent of said company, who shall constitute the officers of said company, and shall continue in office until their successors are duly chosen and qualified to act; and at such first meeting the said directors or a majority of them may proceed to enact such by-laws as they may deem necessary and proper for the more complete organization of such company.

SECTION 6. The business of said corporation shall be confined to cutting, taking out, storing, shipping and vending ice to be cut and taken from the Milwau kee and Menomonee rivers or either of them, or from any of the rivers or lakes within this state, as may be determined by said board of directors, and to that end the said corporation may purchase or lease any real estate sufficient for the purpose of their organization, at any point within this state to be determined upon by the board of directors aforesaid. Any person owning one share of full paid stock of the said corporation shall be entitled yearly and every year to a quantity of ice to be furnished free of cost to said share holder by said corporation to the extent of one quarter of the par value of said share of stock, and each stockholder shall be

entitled to receive, and upon demand shall receive yearly, ice as aforesaid in such proportions as aforesaid for each and every share of full paid stock owned by him, free of cost, and at the same rate as ice shall be sold by said company to others not stockholders therein. The time and manner in which such ice shall be furnished to such stockholders may be regulated by the by-laws of said corporation.

laws.

SECTION 7. A majority of the directors of said cor- of quorum, poration shall constitute a quorum for the transaction of rules and bybusiness; they shall have power to make and establish such by-laws, rules, orders and regulations as may be necessary for the management of the affairs of the company, and to make such covenants, contracts and agreements with any person or persons, copartnership or body politic whatever as they may deem expedient and for the benefit of said company.

money, execute

SECTION 8. The said company are hereby authoriz- May borrow ed in their corporate capacity to borrow any sum or bonds and othsums of money from any person or persons, body cor. er securities. porate or politite of any kind, and make and execute in their corporate name all necessary writings, notes, bonds or other papers, and make, execute and deliver such securities in amount and kind as may be deemed expedient by said corporation for all purposes necessary in carrying out the objects of said company; and the official acts of said directors are declared binding in law and equity upon said corporation and upon all other parties to such contracts.

books of subscription.

SECTION 9. The persons named in the first section May open of this bill [act] may at, or at any time after the said first meeting of said directors as they may deem expedient or necessary, open or cause to be opened books of subscription for the capital stock of said corporation, and whenever in their opinion a sufficient amount shall have been subscribed they shall call a meeting of the stockholders by written notice given by the secretary of said company to each of the said subscribers to the capital stock of said corporation, designating the time and place of such meeting, and at such time, if a majority in value of said stockholders shall so decide, an election shall forthwith be proceeded with for directors of said corporation; and there shall be annually thereafter an election held by the stockholders for the purpose of electing such directors. All the stock

personal pro

perty.

Stock shall be mentioned herein shall be considered personal property, and shall be transferable on the books of the company in such manner as shall be directed by the bylaws of said corporation.

How moneys to be invested.

SECTION 10. The directors of said corporation shall make such disposition of the funds belonging to said corporation arising from the moneys subscribed for stock thereof and earned by said corporation in the prosecution of its business either by the payment of dividends, the leasing and purchasing of real estate and property of whatever nature necessary to the carrying on the business of said corporation as they may deem to be for the best interest thereof, subject to the regulations adopted in the by-laws thereof, and said directors shall have power to increase the capital stock of said corporation to a sum not exceeding one hundred thousand dollars.

SECTION 11. This act shall take effect and be in force from and after its passage. Approved February 14, 1868.

Corporators and name.

Powers and franchises.

CHAPTER 53.

AN ACT to incorporate the Green Bay and Scott plankroad and turnpike company.

The people of the state of Wisconsin, represented in senate and assembly, do enact as follows:

SECTION 1. Mark English, Geo. N. Laughton, Edward Roethe, Robt. Gibson, C. N. Aldrich, and such other persons as shall become associated with them for the purposes mentioned in this act, are hereby made, created and constituted a body corporate and politic, by the name and style of the Green Bay and Scott plankroad and turnpike company, and by that name may sue and be sued, plead and be impleaded, as a natural person, and shall be recognized in courts of law and equity, and they shall have power in their corporate name, for the use of said corporation, to purchase and hold sufficient real estate for the free enjoyment of all privileges herein granted; and also the power to establish

such by-laws, ordinances and regulations as shall be deemed necessary for the furtherance of the objects of the corporation, not inconsistent with the constitution and laws of this state.

construct road.

SECTION 2. The said company are hereby author. May locate and ized and empowered to locate, construct and finally complete a plank or gravel road, or partly plank and partly gravel, from a point on the northeast boundary line of the city of Green Bay, as may be agreed upon by said company, to or near the catholic church, in the town of Scott, by the most feasible route.

SECTION 3. The capital stock of said company shall Capital stock. be thirty thousand dollars, in shares of twenty dollars each, and at any time after the passage of this act, the corporators herein named, or a majority of them, may open the books for the subscription to the capital stock of said company, at such time and place, and upon such notice as they may deem proper; and may also make such order for the payments of instalments as they may think best for the interests of the corporation.

stockholders.

SECTION 4. When the sum of two thousand dollars Meeting of of the capital stock of said company is subscribed for, a meeting of the stockholders shall be called by the above named corporators, or a majority of them, at such time and place and upon such notice as may be deemed proper, for the purpose of electing a board of directors for said company. The election shall be con- How election ducted in such manner as the persons named in this conducted. act, or a majority may direct; and each stockholder shall have one vote at such first election, for each share of stock he may own at the time of such election. The votes may be given in all elections in person or by proxy, as may be provided by the by-laws of the company. The board of directors shall consist of five persons, shall continue in office one year from the time of their election, and until their successors are elected, and a majority of them shall constitute a quorum to

do business. The said directors shall elect a president officers of the from their number, and other necessary officers, who board. may or who may not be stockholders or directors. The stock of said company is hereby declared personal property, and may be transferred by assignment, in such manner as the by-laws thereof may provide.

SECTION 5. It shall be lawful for said company, Route of road. their officers, engineers and agents, to construct said