which such merger shall have been made; and provided Proviso. capital stock to carry consolida 243. SEC. 4. That whenever any consolidation and May increase merger shall have taken place, under and by virtue of tion into effect. this act, between any two or more corporations so authorized as aforesaid, the corporation into which such merger shall be made, shall have power and authority to make such increase in its capital stock and shares as may be expedient in carrying such consolidation and merger into effect. issue bonds. 244. SEC. 5. That whenever any consolidation and Authorized to merger shall have taken place under and by virtue of this act, between any two or more corporations so authorized as aforesaid, the corporation into which such merger shall be made shall have the power and authority to issue bonds, either registered or coupon, and to create a mortgage or mortgages on a portion or on all of its property, real and personal, and also of all its rights, privileges and franchises, to trustees, to secure the payment of the bonds so issued, and to give and exchange the said bonds for the debts and obligations of the respective corporations so consolidated and merged; provided, that said bonds Proviso. shall not bear a rate of interest of more than seven per centum per annum; the bonds so issued may be given in lieu, exchange and in satisfaction of and for all bonds, mortgages or other debts, or claims, or stocks, or obligations against the corporations thus consolidated and merged, upon such terms as may be agreed upon by and between the holders of such debts or claims, and the corporation into which such consolidation and merger has taken place; provided, always, that all real estate and Proviso. property of said company and its successors shall be subject to taxation where located, the same as the property of P. L. 1886, p. 210. When original certificate of incorporation is Jost, a certified may be filed in copy of record of secretary of state. When certificate recorded, corpo. ration deemed individuals, and any power exercised under this act is and shall be upon the express provision that such property shall be so subject to taxation. An act relative to the filing of certificates of incorporation. 245. SEC. 1. That in case any certificate of incorporation of any corporation organized under the act entitled "An act concerning corporations" [Revision], approved April seventh, one thousand eight hundred and seventyfive, and the acts amendatory thereof, shall have been heretofore or is hereafter lost after the same has been recorded with the clerk of the county where its princi. pal place of business is located and before it has been filed with the secretary of state, then in that case it shall be lawful for one or more stockholders of such corporation to cause a copy of the record of the original certificate of incorporation in said county clerk's office, certified by the clerk of the county in which it is recorded, to be filed with the secretary of state as of the date when it was recorded in said county clerk's office; and the secretary of state is hereby required to file the said certificate in his office as of the date when it was recorded with the clerk of the county in which the principal place of business of such corporation is situated and to charge the same fees for such filing as was required by law at the time for which such certificate shall be filed. 246. SEC. 2. That for all intents and purposes any Incorporated. such corporation shall be deemed to have been incorpor ated as of the date when the original certificate of incorporation was recorded with the clerk of the county in which said corporation's principal office or place of business is located. An Act relative to the titles of corporations. Approved March 7, 1888. P. L. 1888, p. 152. to assume name of another ized. 247. SEC. 1. That no corporation to be organized under No corporation the laws of this state shall assume or use a name or title already organalready in use by another corporation so organized, or so nearly similar to the name or title of any other corporation of this state as to lead to uncertainty and confusion. 248. SEC. 2. That this act shall take effect immedi- Repealer. ately, and that all acts and parts of acts inconsistent herewith be and the same are hereby repealed. An Act concerning corporations of this state, and of other states, doing business in this state. Corporations dispose of stocks corporations of Approved April 4, 1888. P. L. 1888, p. 385. 249. SEC. 1. That it shall be lawful for any corpora- may own and tion of this state, or of any other state, doing business in and bonds of this state and authorized by law to own and hold shares other states. of stock and bonds of corporations of other states, to own and hold and dispose thereof in the same manner and with all the rights, powers and privileges of individual owners of shares of the capital stock and bonds or other evidences of indebtedness of corporations of this state. An Act relating to the consolidation of corporations formed under the act entitled "An act concerning corporations," approved April 7, 1875, and the acts amending and supplementing the same, for the purposes of the improvement and sale of lands, the construction, maintenance and operation of hotels and carrying on the business of an innkeeper, and the transportation of goods, merchandise or passengers upon land or water. Approved April 17, 1888. P. L. 1888, p. 441. any may consolidate merge into 250. SEC. 1. That it shall and may be lawful for Corporations corporation or corporations of this state, formed under one corporation. the provisions of an act entitled "An act concerning corporations," approved April seventh, one thousand eight hundred and seventy-five, and the acts supplementing Consolidation and merger to be made under certain conditions. and amending the same, for all or any of the following 251. SEC. 2. That such consolidation and merger shall that such merger of any one or more of said companies so desired to be consolidated may take place by the new company purchasing and holding stock of said old company and issuing its stock, as for property purchased in lieu thereof, when, and in that event, the said old company whose stock is so purchased, shall remain in existence and no merger of its property or franchise into the new company shall take place, anything herein contained to the contrary in any wise notwithstanding. When the agree tors to be agreement of 252. SEC. 3. That such agreement of the directors shall ment of direcnot be deemed to be the agreement of the said corpora- deemed the tions so proposing to consolidate until after it has been corporations. submitted to the stockholders of each of said corporations respectively, separately, at a meeting thereof, to be called upon a notice of at least fourteen days, specifying the time and place of such meeting, and that it object is to consolidate said companies into said new company, to be addressed to each of such stockholders at his last known place of residence known to the secretary, and deposited in the post office, the affidavit of the secretary to be evidence of said mailing, said notice of meeting of each corporation to be published in a newspaper published in the county where said corporation has its principal office, at least one week before said meeting of said company, and has been sanctioned and approved by such stockholders by a majority vote in amount of the stockholders present at such meetings respectively, voting by ballot in regard to such agreement, either in person or by proxy, each share of such capital stock being entitled to one vote, and when such agreement of the directors has been sanctioned and approved by each of the meetings of the respective stockholders separately, after being submitted to the meetings in the manner above mentioned, then such agreement of the directors shall be deemed to be the agreement of the said several corporations, and a sworn copy of the notice of meeting, proof of service and proceedings of such meeting, made by the |