SEC. 5. There shall be an annual meeting of the stockholders of said corporation, to be holden in Providence, at such time as the corporation shall by its bylaws determine, for the choice from the stockholders of officers, and for such other business as may come before them; but the validity of this act shall not be impaired by the failure to hold such meeting, but the business of such meeting may be transacted at any legal meeting of the corporation held thereafter. SEC. 6. Said corporation shall have a counting-room and place of business in Providence. SEC. 7. This act shall take effect from and after its passage. 1877. Passed June 1, AN ACT TO INCORPORATE THE GREENE & DANIELS MANUFACTURING COMPANY. It is enacted by the General Assembly as follows: SECTION 1. Benjamin F. Greene, Edward A. Greene, Thomas Moies, their associates, successors and assigns, are hereby created a body corporate and politic, by the name of the Greene & Daniels Manufacturing Company, for the purpose of manufacturing thread and yarns and woven goods, and for other manufacturing business connected therewith, with all the privileges, and subject to all the duties and liabil ities set forth in chapters 139 and 142 of the General Statutes, or in any act in amendment thereof or in addition thereto. SEC. 2. The capital stock of said corporation shall not exceed five hundred thousand dollars, and may be fixed from time to time by vote of said corporation, the same to be divided into shares of one hundred dollars each, and to be transferred in such manner as shall be prescribed by the by-laws of said corporation. SEC. 3. The stock or shares of every stockholder shall be pledged and liable to the corporation, for all debts and demands due and owing from such stockholder to said corporation whether overdue or due at a day future, and whether the same shall arise from assessments or in any other manner; and such stock may be sold for the payment of such debts and demands in such manner as the corporation by its by-laws may prescribe, and in case the proceeds of such sale shall be insufficient to discharge such debts and demands, the corporation may have their action against the debtor for the balance due. SEC. 4. Said corporation shall have a countingroom or place of business in the village of Pawtucket. AN ACT TO INCORPORATE THE "AMERICAN MUTUAL FIRE It is enacted by the General Assembly as follows: SECTION 1. Scott W. Mowry, John W. Danielson, Robert B. Chapman, and their associates, successors and assigns, are constituted a body politic and corporate, by the name of the "American Mutual Fire Insurance Company," for fire insurance. purposes, with all the powers and privileges, and subject to all the duties and liabilities set forth in chapters 139 and 143 of the General Statutes, and in all acts in amendment thereof, and in addition thereto. SEC. 2. There shall be an annual meeting of the members of said corporation in the city of Providence on the first Wednesday in June in each year, for the choice of a board of directors, and such other business as may properly come before them; and all officers of said company once elected shall hold their respective offices until others are elected in their stead. SEC. 3. All persons who shall become insured in said company shall be members thereof during the time of the existence of their policies, and no longer; and each person having insurance in said company shall be entitled to one vote; and if his insurance shall amount to more than ten thousand dollars, he shall be entitled to one vote for every ten thousand dollars for him so insured. SEC. 4. When the sum subscribed to be insured by the associates shall amount to one million dollars, said company may insure against loss by fire; and in case Passed June 1, 1877. losses shall be sustained for a greater amount than the existing fund of said corporation, the directors may assess the policy holders for such sums as may be necessary to pay the losses; provided, however, that the directors may, in their discretion, divide the risks upon property insured, into such classes as they may deem proper, and in such case the funds of each class shall be kept separate, and the persons insured in any one class shall only be liable for the losses occurring in such class; and provided further, that no policy holder shall be liable for assessment for more than ten times the amount of premium by him paid. proper SEC. 5. Whenever the said corporation shall make insurances upon any property which they are by this act authorized to insure, the said property insured shall be held by said corporation as security for any assessment. And the policy of insurance to any member or members of said corporation, upon his, her, or their property, shall of itself, create a lien upon said ty insured therein for the sum of any such assessment, and the costs which may accrue in collecting the same, without any other law whatever, and said lien shall continue during the existence of said policy, or till the amount of said assessment shall be paid or otherwise secured, to the satisfaction of said corporation, notwithstanding the transfer or alienation thereof, provided however, that said lien shall be duly recorded in the town clerk's office in the town where the property is situated. SEC. 6. All moneys which shall be received by said corporation for premiums shall, under the direc tion of the president and directors, be invested in stocks, notes, bonds, or other productive securities, and the same, with the income thereof be appropriated to pay the expenses of said corporation losses which may occur, or in return premiums to the members of said corporation. SEC. 7. Said corporation shall have an office or place of business in the city of Providence. SEC. 8. This act shall take effect from and after its passage. 1877. AN ACT IN AMENDMENT OF AN ACT ENTITLED "AN ACT IN Passed June 1, It is enacted by the General Assembly as follows: SECTION 1. The words " paid up capital from time to time," in the last sentence of the second section of the act entitled" An act in amendment of the act entitled an act to incorporate the Warwick Railroad Company," passed June 18, 1875, are hereby stricken out, and the words "such capital stock," are hereby substituted therefor, so that said second section shall read as follows:-"SEC. 2. The second section of said act is hereby amended so that the capital stock may consist of any amount not exceeding four thousand shares of one hundred dollars each, and the sum or sums of money which may be borrowed by the directors upon the bonds of said corporation, to be secured by mortgage, as provided in the fifteenth section of said act, may be any sum not exceeding the amount of such capital stock." SEC. 2. This act shall take effect whenever the same shall have been accepted by the said corporation at a meeting of the stockholders thereof, called for that purpose, by giving each stockholder personal notice of the time and place of such meeting. AN ACT TO INCORPORATE THE VALLEY FALLS FIRE DISTRICT. Passed June 1, It is enacted by the General Assembly as follows: SECTION 1. All that part of the town of Cumberland including the village of Valley Falls, beginning at the point where the easterly line of the town of Cumberland intersects the Blackstone river, thence northerly by said easterly line to the Mendon road, so called, thence northwesterly and westerly by said Mendon road and its continuation to Broad street, thence in a direct line westerly to the center of the Blackstone river, thence by said river to the point of beginning; and that portion of the town of Lincoln, 1877. comprised in school district number (3) three, bounded as follows: Beginning at the point where Blackstone street, continued easterly, would intersect the Blackstone river, thence westerly by said Blackstone street to Broad street, thence across Broad street, westerly by the northerly line of the United States Flax Manufacturing Company's store property, to the rear end of the one hundred (100) feet lots laid out on the east side of Washington street, thence northerly by the rear of said lots to the center of Blackstone river, thence by said Blackstone river to the point of beginning, as marked out and delineated on a plat accompanying the petition for this act, is hereby incorporated into a district, to be called "The Valley Falls Fire District." Said district may have a common seal, sue and be sued, and enjoy the other powers generally incident to corporations. SEC. 2. The taxable inhabitants of said district, qualified to vote in town affairs on propositions to impose taxes, or for the expenditure of money, shall be eligible to vote and act in all meetings of the corporation. SEC. 3. The annual meetings of said corporation shall be holden on the first Monday of December. The first meeting shall be holden at the counting room of the Valley Falls Company, on the first Monday of July next ensuing. SEC. 4. Said taxable inhabitants at each annual meeting and at any other meetings when vacancies occur, may elect officers to serve for one year, or until the next annual meeting, and until others be chosen in their stead; which officers shall consist of a moderator, clerk, treasurer, three assessors and a collector of taxes, whose duties and powers within said district, shall be such as like officers of towns in this state have in their respective towns. They may also elect firewards, engineers and assistant engineers. SEC. 5. Said taxable inhabitants, at any of their legal meetings, shall have power to order such taxes, and provide for the assessing and collecting the same, on the taxable inhabitants and property in said district, as they shall deem necessary for purchasing fire |