treasurer of said corporation shall always be a resident of this State; and may declare any offices vacant, and fill any vacancy that may happen in any offices created by said corporation; and if said corporation should fail from any cause or circumstance whatever to hold their annual meeting on the day aforesaid, it shall not work a forfeiture of this charter, but the business of such meeting may be transacted at any legal meeting called for that purpose. Special meetings may be called in such manner as shall be prescribed by the by-laws of the corporation, and at all meetings of the corporation not less than a majority of the shares shall constitute a quorum for doing business, and all matters shall be decided by a majority of the votes present, allowing each stockholder in person or by proxy one vote for each share by him owned.

SEC. 4. The stock or shares of each and every stockholder shall be pledged and liable for all debts and demands due and owing from such stockholders to said corporation, whether over-due, or due at a day future, and whether the same shall arise from assessments or instalments, or from any other contract originally made with said corporation; and in case the proprietor of any share or shares shall neglect or refuse to pay such debt or demand to the treasurer or agent thereof within twenty days after the same becomes due and payable, the treasurer or agent of said corporation is hereby authorized to sell at public auction, the share or shares of such delinquent proprietor sufficient to discharge such demand and all incidental expenses, first giving notice in one of the newspapers printed in the city of Providence, of the time and place of sale, at least two weeks successively before the sale; and also giving written notice two weeks before the sale to such delinquent proprietor, in case he shall not reside in this State, and his residence shall be known to said corporation; and the treasurer or agent is authorized to transfer said stock to the purchaser at such sale, in the form and manner by which stock is transferable by the regulations of said corporation; and such sale and transfer shall vest in such purchaser the legal title to such stock or shares; and the balance of the money arising from

the sale of such stock or shares, after discharging the debt or demand for which the same was pledged, with the expenses, shall be paid to the delinquent proprie

tor; and

not be

provided, that if the proceeds of such sale shall sufficient to discharge said debt or demand, the corporation may have their action against the debtor for the balance due.

corpora

SEC. 5. Said corporation shall have a counting room and place of business at the city of Providence, and in all proceedings in law or equity, in which said tion shall be a party, the leaving an attested copy of the writ, summons, or other process with the clerk, agent or treasurer at such place of business shall be sufficient service thereof.

SEC. 6. Either of the persons named in the first section of this act is hereby authorized to call the first meeting of stockholders for organization, and any other business of the corporation hereby formed at such time and place, and giving such notice of such meeting as they may deem reasonable and proper.

SEC. 7. The liabilities of the members of this company for the debts of the corporation, its members and officers, shall be fixed and limitedby, andthe corporation, its members and officers, shall in all respects be subject to the provisions of chapters 125 and 128 of the Revised Statutes, and of all acts or parts of acts in amendment or repeal thereof.

AN ACT TO INCORPORATE THE PASCOAG SAVINGS BANK. It is enacted by the General Assembly as follows :

SECTION 1. De Witt C. Remington, John Walling, James O. Inman, James Wade, Simon Smith, Edwin C. Sayles, Angell Sayles, Sylvester Sayles, Joseph O. Clark, Horatio L. Hopkins, Hazel H. Cooper, Job A. Waldron, James S. Cook, Dutee S. Salisbury, Thomas D. Sayles, John T. Fisk, Smith R. Arnold, Francis M. Wood, James A. Potter, Henry M. Chase and Samuel O. Griffin, are hereby declared a body politic and corporate, by the style and name of the Pascoag Savings Bank, and they

and such others as shall be elected members, shall constitute a corporation, by the name aforesaid.

SEC. 2. Said corporation shall meet annually at Pascoag, in the town of Burrillville, on the first Monday of September. They shall annually elect a president and ten trustees, who shall manage the affairs of said bank, and who may elect a secretary and treasurer, and such other officers as they may deem necessary; remove them in their discretion, determine their salaries, and fill all vacancies in their own board until the next annual election, and make all necessary by-laws. not contrary to law. All officers of the corporation shall continue in office until others are legally appointed in their places.

SEC. 3. Said corporation may receive on deposit sums not to exceed three hundred thousand dollars in the whole amount, at any one time; and shall at least once a year make dividends out of the profits thereof. Any sum deposited in the name of any person may be withdrawn by such person, notwithstanding infancy or coverture, unless under guardianship. No money shall be loaned directly or indirectly to any member of the corporation.

SEC. 4. The treasurer shall give bond to the satisfaction of the directors.

SEC. 5. James S. Cook, of said Pascoag, is hereby authorized to call the first meeting of said corporation, by posting up public notices in three or more public places in said village, of the time and place, for the purpose of electing a president and directors, to serve until the annual meeting, or until others are chosen in their places.

PAWTUXET

AN ACT TO INCORPORATE THE "PROVIDENCE AND PAWTUXET HORSE RAILROAD COMPANY."

It is enacted by the General Assembly as follows:

SECTION 1. Joseph G. Johnson, Stacy W. Remington, Thomas Davis, Cyrus Harris, William Butler, Cyrus Butler, Henry Butler, Henry G. Tucker, George P. Tew, Benjamin Bogman, Jas. R. Hodges, William Barstow,

Edward P. Taft, Alfred Anthony, Martin C. Stokes, Henry C. Mathewson, their associates, successors and assigns,are hereby made a corporation, by the name of the Providence & Pawtuxet Horse Railroad Company, with all the powers and privileges, and subject to all the duties, liabilities and restrictions applicable to such a corporation, set forth in chapters one hundred and twenty-five (125) and one hundred and thirty, (130) of the revised statutes, and of all acts in amendment or in addition thereto, with power to construct, maintain and use a railway or railways, with convenient single or double tracks, and turn-outs, from such point or points in Warwick and Cranston as shall be fixed by the town council of said towns, with the assent of said corporation, in writing. expressed, and filed with said town councils; and upon and over such of the streets and highways of said towns, as shall be, from time to time, fixed and determined by said town councils, with written assent of said corporation, filed as aforesaid, and also over and on such other lands in said towns, with the consent of the owner or owners thereof, as said corporation may elect to build their road or roads to the intersection of the same with the streets and highways of the city of Providence; thence upon and over such of the streets of said city as shall be from time to time, fixed and determined by the city council of said city, with the assent of said corporation in writing expressed, and filed with the city clerk of said city, to some convenent point of terminus, to be fixed by the city council of said city of Providence; and all tracks of said railroad shall be laid at such distance from the sidewalks, in said towns and city, as the town councils of said towns and the city council of said city shall respectively, in their orders fixing the route of said railroad, determine; provided, that this act shall not take effect until the town councils of said towns of Warwick and Cranston, and the city council of said city of Providence, shall, by their votes respectively, have assented thereto; and nothing in this act shall be intended or construed to allow said corporation to lay out, construct, use, or continue said road into, over or through any street or highway, in said city of Providence, unless with the as

sent of the city council of said city, and upon compliance with such terms and conditions, and under such rules and regulations, as said city council may impose; and provided, that the said city council shall not grant permission to said company to lay rails upon, or over, or along any of the highways in said city until a majority of the electors voting thereon, qualified to vote for city council, shall have voted in favor of granting said permission in manner provided in chapter 263, of the supplement to the Revised Statutes; and provided, that at any time after the expiration of one year from the opening for use of said railroad, or any part thereof in any tract or highway in said city, in which the same may be located as herein before provided, the city council of said city may by vote determine as to the said track, that the same, or any part thereof, be discontinued, and thereupon the location shall be deemed revoked, and such portion of the tracks and rails of said railroad company shall forthwith be taken up and removed by them, and at the expense of said railroad company; and if the same are not taken up and removed within fifteen days after such vote shall have passed by said city council, it shall be done by the surveyor of highways of said city; and the said streets or highways shall be repaired by him, and said railroad corporation shall be liable to and shall pay the expenses thereof so incurred by said surveyor of highways; and if not paid when done, the same may be sued for and recovered in an action of the case in the name of the city treasurer, to and for the use of the city, and said corporation shall have power, from time to time, and at all times, to fix such rates of fare as they may deem expedient, not exceeding twelve cents for each passenger between any two points on said

road.

SEC. 2. Notice to abuttors on streets in which it may be proposed to lay the tracks of said corporation, shall be given by the publication in one or more newspapers published in said city of Providence, fourteen days at least before the location of any such tracks, and also by posting in three public places in said towns and in said city, notice of such proposed location, fourteen days at least before the same shall be made.