eighteen hundred and forty-eight, it shall be the duty of said plank road company, within ninety days after obtaining such consent, to complete so much of said road as would have authorized said company to have erected a toll gate under the act last mentioned. Sec. 2. The act entitled an act to amend an act entitled an act to Act repealincorporate the Genesee plank road company, approved April second, eighteen hundred and fifty, is hereby repealed. Sec. 3. This act shall take effect immediately. ed. [ No. 15. ] AN ACT to repeal an act to prevent the circulation of Foreign Notes, approved April 3, 1848. Section 1. The People of the State of Michigan enact, That an act to prevent the circulation of foreign notes, approved April third, eighteen hundred and forty-eight, be and the same is hereby repealed. Sec. 2. This act shall take effect immediately. Approved March 8, 1851. [ No. 16. ] AN ACT authorizing the Board of State Auditors to examine and settle the claim of Nancy J. Gould, administratrix upon the estate of Austin M. Gould, deceased. Section 1. The People of the State of Michigan enact, That the Board of State Auditors are hereby authorized and required to examine, audit and settle the claim of Nancy J. Gould, administratrix upon the estate of Austin M. Gould, late of the county of Washtenaw, deceased, for the value of a certain press purchased by the said Austin M. Gould, deceased, during his life time, for the use of the Supreme Court of this State, while acting as clerk thereof. Also for the services and expenses of the said Austin M. Gould, deceased, in and about the removal of the books and papers in said office, to the village of Jackson from Ann Arbor, upon the removal of said court from the last to the former mentioned place, and for assisting in as Company may issue tends; a sorting and putting up said books and papers in the new clerk's of Sec. 2. This act shall take effect immediately. [No. 17. ] AN ACT supplementary to an act entitled an act to incorporate the 1848. Section 1. The People of the State of Michigan enact, That for the of providing means for the construction and completion purpose mouni, & of the plank road of the Jackson and Michigan plank road company, and its buildings and equipments, the said company may issue its corporate bonds or obligations for such amounts, not exceeding in the aggregate the sum of twenty thousand dollars, and in such form as it may deem proper, and payable at such times and places in this State, upon such terms and with such rates of interest (not exceeding ten per cent per annum) as the board of directors of said company may determine, with the approval of the holders of a majority of the stock of such company; and may secure the payment of the whole or any portion of said bonds or obligations by mortgage of the road or other property of said company: Provided, No such bond or obligation shall be issued for a less sum than one hundred dollars. And said company may sell, dispose of and negotiate such bonds or obligations, either within or without this State, at such rates, for such prices and on such terms as said company may determine; and in case said bonds or obligations or any of them shall be thus sold, disposed of or negotiated at a discount, said sale, disposal or negotiation shall be as valid and effectual as if said bonds or obligations had been sold, disposed of or negotiated at their par value; and said bonds or obligations shall be valid and binding as a security for the whole sum payable by the terms thereof, in the same manner as if they had been sold, disposed of or negotiated at their par value: Provided, That none of such bonds or obligations shall be sold at less than par without the consent of the holders of three-fourths of the stock of said company. Proviso. Proviso. ion stock. Sec. 2. For all or any of the purposes aforesaid, said company may create and issue shares of guarantied stock, to be denominated "construction stock," to such an amount as it may dertermine, not to exceed (with the original stock subscribed to the capital of said Constructcompany) the amount of their capital stock allowed by law; which construction stock shall be entitled to such dividend and be payable at such place and in such manner and with such preference or priority over the remaining stock of said company in the payment of dividends, as the directors of said company may determine, and as shall be approved by the holders of three-fourths of the stock of said company, at their annual meeting, or any special meeting called for the purpose of taking into consideration the propriety of issuing such stock; and the holders of such construction stock and their representatives shall be entitled to vote and have an equal voice in the management of the affairs of said company, with the holders of an equal amount of the original stock of said company: Provided, That Proviso. no such construction stock shall be authorized to be issued at any meetings of said company, unless previous notice of such meeting and the intention of submitting that question shall have been published at least six weeks in the newspapers printed in the villages of Jackson and Eaton Rapids. of act, where Sec. 3. This act shall take effect immediately; and said company shall be entitled to its benefits and be subject to its provisions when- Acceptance ever they shall file their acceptance of the same in writing, signed filed. by the president and secretary of said company, under its corporate seal, in the office of the Secretary of State: Provided, Such accep- Proviso. tance shall be so filed within six months from the passage of this act. Approved March 8, 1851. [No. 18. ] AN ACT to amend sections one and two of act number ninety-six, entitled an act to authorize the building of a certain dam therein named, approved March thirty-first, eighteen hundred and forty. Section 1. The people of the State of Michigan enact, That sections one and two of act number ninety-six, entitled an act to autho- of act 96, of 1848, rize the building of a certain dam therein named, approved March amended Sec. 1 and 2 No. Dam autho rized. Proviso Liability for trespass. thirty-first, eighteen hundred and forty, be amended by adding to section one as follows, to wit: "Sec. 1. And provided further, They shall build and maintain therein a good and sufficient lock, not less than sixty feet in length, and sixteen feet in width, for the passage of rafts, saw logs, boats, canoes and other craft." Sec. 2. By adding to section two, after the word "dam," in the second line of said section, the words "or locks;" so that said sections shall read as follows, to wit: "Sec. 1. That Sheldon Judson, Lewis Nicholson, Nathan Judson, and Benjamin Barrett, their heirs and assigns, be and they are hereby authorized and empowered to build a dam across the outlet of Bear Lake, near its intersection with Lake Muskegon, on the northwest quarter of section number twenty-three, in township number ten north, of range number seventeen west, in the county of Ottawa: Provided, That said dam shall not exceed eight feet above the common low water mark: And provided further, They shall build and maintain therein a good and sufficient lock, not less than sixty feet in length and sixteen feet in width, for the passage of rafts, saw logs, boats, canoes and other water craft. "Sec. 2. Any person who shall destroy or in any wise injure said. dam or lock, shall be deemed to have committed a trespass on the owners thereof, and shall be liable accordingly." Sec. 3. This act shall take effect from and after its its passage. Sec. 4. The Legislature may at any time alter or amend this act. Sec. 1 of act No. 109, of ded. [ No. 19. ] AN ACT to amend section one of act number one hundred and nine, entitled an act to incorporate the Marshall and Ionia plank road company, approved March 20, 1850. Section 1. The People of the State of Michigan enaci, That sec1859, amen- tion one of said act is hereby amended by inserting at the beginning of the third line thereof, the names following, to wit: "W. J. Squier, W. R. Martin;" so that said section when amended shall read as follows, to wit: sioners. "Sec. 1. The People of the State of Michigan enact, That Isaac CommisE. Crary, H. J. Lawrence, W. J. Squier, W. R. Martin, John C. Ball, James M. Kidd and William Babcock, be and they are hereby appointed commissioners, under the direction of a majority of whom subscriptions may be received to the capital stock of the Marshall and Ionia plank road company; and the subscribers thereto, with such other persons as they shall associate with them for that purpose, their successors and assigns, shall be and they are hereby created a body politic and corporate, by the name and style of the Marshall and Ionia plank road company, with corporate succession." Approved March 8, 1851. [ No. 20. ] AN ACT to amend sections one and three of an act entitled an act to incorporate the Corunna and Saginaw Plank Road Company, approved April 3, 1848, and to amend section one of an act to amend an act entitled an act to incorporate the Corunna and Saginaw Plank Road Company, approved April 2, 1850. Section 1. The People of the State of Michigan enact, That section one of an act to incorporate the Corunna and Saginaw plank road company, approved April third, eighteen hundred and fortyeight, shall be amended by striking out the word "and,” in the fourth line of said section, and inserting after the word "Cooper," in said fourth line, the words "Gardner D. Williams, James Fraser, Charles S. Kimberly and Daniel Eaton;" also that section three of the same act be amended by striking out the word "fifty" and inserting "seventy," in the first line, and add between the words "thousand" and "shares," the words "eight hundred;" so that sections one and three shall read as follows: See. 1 of act No. 335, of 1850, amen ded. tion. "Section 1. Be it enacted by the Senate and House of Representa- Incorporatives of the State of Michigan, That Isaac Castle, Alexander McArcher, Ransom W. Hawley, Luke H. Parsons, Ebenezer C. Kimberly, Gardner D. Williams, James Fraser, Charles S. Kimberly and Daniel Eaton, be and are hereby appointed commissioners, under the direction of a majority of whom subscriptions may be received to the capital stock of the Corunna and Saginaw plank road company; and the |