Power of corporation.

The stock shall be considered

ty.

cause, the vice-president will perform his duties; either of whom, with the secretary, or actuary, shall sign the policies or contracts made by order of the board of directors, which contracts shall be binding with or without the seal of said corporation; and shall do and perform such other acts and things as may be prescribed in the by-laws of the company. Any director ceasing to be a stockholder, forfeits his powers and privileges as a director, and all officers of said corporation shall continue in office until their successors are chosen and qualified.

SEC. 7. The corporation hereby created shall have full power and authority to invest its surplus capital and funds in any funded debt created or to be created by or under any law of the United States government, or any law of the states or territories, or of the city of Leavenworth, in mortgages on real estate, promissory notes, bills of exchange, and on bottomry and respondentia, to sell and transfer, change and reinvest the same as the directors may deem for the interest of the corporation to be made available in the line of its ordinary business.

SEC. 8. The stock of said company shall be considered perpersonal proper-sonal property, and shall be transferable according to such rules and under such restrictions as the board of directors may direct, who, by their by-laws, may also prescribe what number of directors may constitute a board competent to transact business of the company, prescribe what number of clerks and other officers may be necessary, prescribe their duties, titles and salaries, and such other things as they may deem proper; always, however, subject to the general laws of this territory.

May establish agencies.

Of the dividend payments on the capital stock.

SEC. 9. The said company shall have power to establish such agencies as may be deemed proper for carrying on its business within or without this territory.

SEC. 10. No dividend on the capital stock of said company shall be payable to the stockholders until the sum of thirty thousand dollars of said capital stock shall have been either paid in, in cash, or have accumulated partly from cash paid in, and partly from the business of the company; and until the capital stock of said company shall be enlarged to one hundred thousand dollars, and paid in, or accumulated, as before mentioned, no dividends exceeding ten per cent. per annum shall be paid to the stockholders on the capital stock of said company; but books for the additional subscription of new stock to such an amount shall be opened, and those who shall then be stockholders shall have credit on account of such new additional stock

for any dividends to them accruing, exceeding said rate of ten per cent., until said amount of one hundred thousand dollars shall have been accumulated as aforesaid, after which the nett profits of the business of said company may be divided at the discretion of the directors. The stockholders shall have power to authorize and direct the directors to declare a dividend at any time, and in such amounts as they may so direct, any provision in this section to the contrary notwithstanding.

SEC. 11. This act shall be and the same is hereby declared a public act, and all courts, judicial officers, and others exercising judicial powers in this territory, shall judicially take notice of the same, and all the rights, powers and authority hereinbefore enumerated and conferred shall be exercised and enjoyed, any law to the contrary notwithstanding.

This act shall be in force from and after its passage.
Approved February 20th, 1857.

This act declared a public act.

AN ACT to incorporate the Palermo Insurance Company.

Be it enacted by the Governor and Legislative Assembly of the Territory of Kansas, as follows:

Insurance com

SECTION 1. That an insurance company shall be and is hereby established in the city of Palermo, with a capital stock of any established. one hundred thousand dollars.

SEC. 2. William C. Kimber, Benjamin R. Martin, Job V. Kimber, William Palmer, Granville Livermore, Frank M. Mahan and Alden Clark, of the county of Doniphan, or any three of them, are hereby constituted commissioners to open books for the subscription to the capital stock of said company.

Capital.

Name of commissioners.

Powers, conditions, &c., con

company.

SEC. 3. All the powers, conditions and provisions of an act entitled "An act to incorporate the Leavenworth Insurance ferred upon this Company," which are by law conferred upon the said insurance company by the aforesaid act, are by this act extended to and conferred upon the Palermo Insurance Company.

This act to take effect and be in force from and after its passage.

Approved February 20th, 1857.

Names of corporators and pow

ers.

HOTEL COMPANIES.

AN ACT to incorporate the Planters' Hotel Company.

Be it enacted by the Governor and Legislative Assembly of the Territory of Kansas, as follows:

SECTION 1. Richard R. Rees, president; Edward C. McCarty, secretary; William H. Russell, treasurer; Edward C. McCarty, William H. Russell, Amos Rees, Hamilton P. Johnson and George B. Panton, directors, and their associates and successors, be and they are hereby constituted a body corporate and politic by the name and style of the Planters' Hotel Company, at the city of Leavenworth, with all the powers and duties, and subject to the same restrictions, as provided by an act entitled "An act concerning corporations."

This act to take effect from and after its passage.
Approved February 10th, 1857.

ers.

Names of cor

AN ACT to incorporate the National Hotel Company.

Be it enacted by the Governor and Legislative Assembly of the Territory of Kansas, as follows:

SECTION 1. That Joel Walker, W. J. Osborn, C. Garrett, porators and pow- T. Swope, S. Armstrong, M. R. Walker, and others, their associates and successors, be and they are hereby created a body politic and corporate by the name and style of the National Hotel Company, and shall have perpetual succession, and be capable of suing and being sued, of pleading and being impleaded, in all matters whatsoever, in all courts of law and equity in this territory; may have and use a common seal and alter the same at pleasure, and may hold in their corporate name real estate sufficient for all the objects of this charter. SEC. 2. The company hereby incorporated shall have power to erect and keep in repair a hotel, with all the necessary accompaniments, in the city of Wyandott.

tel.

Can erect a ho

May make regulations.

SEC. 3. The said company shall have power to make all needful regulations and rules for the government of the company, not inconsistent with the laws of the United States or this territory.

SEC. 4. The capital stock of said company shall be fifty thousand dollars, to be divided into shares of one hundred dollars each.

Capital stock.

Shall not conflict with general

SEC. 5. Provided, that nothing in this charter shall conflict with the provisions of the general law of corporations as passed law. by the last legislature.

This act to take effect and be in force from and after its passage.

Approved January 8th, 1857.

AN ACT to incorporate the Palermo Hotel Company.

Be it enacted by the Governor and Legislative Assembly of the Territory of Kansas, as follows:

Names of crporators.

SECTION 1. That Reuben Middleton, S. D. Bird, John Sterwalt, F. M. Mahan, W. McKimber, N. V. Colman and J. H. Thomas, directors, and their associates and successors, be and they are hereby constituted a body politic by the name of the Palermo Hotel Company, at the town of Palermo, in the county of Doniphan, and territory of Kansas, with all the powers and Powers. duties, and subject to the same restrictions as provided by an act entitled "An act concerning corporations."

This act to take effect and be in force from and after its passage.

Approved February 17th, 1857.

AN ACT to incorporate the Atchison Hotel Company.

Be it enacted by the Governor and Legislative Assembly of the Territory of Kansas, as follows:

Names of cor

SECTION 1. That John Bennett, Henry Adams, Samuel Dixon, Newcomb J. Ireland, Luther C. Challiss, Albert G. Smith, porators. Berry S. Davenport, Michael Doyle, and their associates and succesors, are hereby constituted a body politic and corporate by the name and style of the "Atchison Hotel Company," and by that name shall be competent to make contracts, sue and be Powers. sued, plead and be impleaded, in all matters whatsoever, in law or equity. Said company is authorized to have and use a

a common seal, and alter the same at pleasure, and to make such by-laws as may be deemed necessary for the government of the said company and the management of its affairs.

SEC. 2. The capital stock of the said company shall be ten thousand dollars, divided into shares of one hundred dollars each, and it may be increased to any amount not exceeding fifty thousand dollars whenever the holders of two-thirds of the stock shall, by vote, so direct; the stock of said corporation shall be deemed personal property, and shall be transferable on the books of the corporation in such manner as its by-laws may prescribe.

SEC. 3. The said company shall have power to purchase, receive by donation, gift or otherwise, have, hold and enjoy, such real and personal property as may be necessary to enable them to carry out the objects of the said corporation.

This act shall take effect and be in force from and after its passage.

Approved February 14th, 1857.

Corporators of company and their powers.

Capital stock.

MILL COMPANIES.

AN ACT to incorporate the Atchison Mill Company.

Be it enacted by the Governor and Legislative Assembly of the Territory of Kansas, as follows:

SECTION 1. That A. G. Smith, L. C. Challiss, John Bennett, William Jackson, Timothy Scanlan, Newcomb J. Ireland, Peter T. Abell, R. L. Kirk, and their associates and successors, are hereby constituted a body politic and corporate by the name and style of the Atchison Mill Company, and by that name shall be competent to make contracts, sue and be sued, implead and be impleaded, in all matters whatsoever, in all courts of law or equity. Said company is authorized to have and use a common seal, and to alter the same at pleasure, and to make such by-laws as may be deemed necessary for the government of said company and the management of its affairs.

SEC. 2. The capital stock of said company shall be fifty thousand dollars, divided into shares of fifty dollars each; but it shall be lawful for said corporation to commence their opera