EA
165
B853
B853
A brief account of the pres
organization of copper co
ies, now in operation on
about Lake Superior, for
digging and smelting of c
and other ores...1845.


Tower
F1
4
G

EA
165
B853
B853
A brief account of the prese
organization of copper co
ies, now in operation on
about Lake Superior, for
digging and smelting of c
and other ores...1845.
•Lakespe

A BRIEF ACCOUNT
OF THE
PRESENT ORGANIZATION
OF
COPPER COMPANIES,
NOW IN OPERATION ON AND ABOUT
LAKE SUPERIOR,
FOR THE
DIGGING AND SMELTING OF COPPER AND OTHER ORES:
TOGETHER WITH THE
ARTICLES OF ASSOCIATION
OF THE
Pennsylvania and Lake Superior Copper Company.
PREPARED BY AN ACTUAL EXPLORER.
HARRISBURG:
THEO: FENN, PRINTER..
1845.
TO THE SHAREHOLDERS.
In submitting to the shareholders the following brief outline of the
mineral resources of the Lake Superior Country, the object is to state
succinctly, a very few of the facts connected with them, tending to
Read the public mind to a careful examination of them; and the phy-
sical energies of our hardy and enterprising citizens to their success-
ful developement. While this hitherto rich and unexplored region
has been but partially visited, yet sufficient investigation has been
made by gentlemen of mineralogical science, to induce the most
abiding conviction, that nowhere within the broad expanse of the
United States, are such inducements presented to capitalists and
others, for the successful accumulation of wealth, private indepen-
dence and personal happiness, as are to be found on the southern
shores of Lake Superior. In the little sketch herewith presented to
the public, argument is made to give place to facts; facts, well and
incontrovertibly ascertained, from sources beyond and above skepti-
cism or attack. Reference is specially had to the statement in rela-
tion to these regions, made in Silliman's Journal of July, 1845; to
the Geological Report of Prof. Jackson; and to the Report of the
value of the Mining Districts of Lake Superior, made to the Senate
of the United States, and by that body ordered to be printed during
the session of 1844-'5. These references are short and intended to
attract the attention of the enterprizing public to this hitherto par-
tially known and neglected portion of the Union. It is intended,
hereafter, to give in detail, a full and authentic statement of the
progressive action of the several mining companies, now organized,
in the prosecution of the objects of their association, and the facili-
ties which present themselves for the prosperous investment of capi-
tal in the enterprise, which shall ultimately crown with success the
labors of those who enrol themselves among the miners of the Lake
Superior Country.
DAVID R. PORTER,
ALEXANDER RAMSEY,
JOSEPH B. ANTHONY,
MICHAEL DOUSMAN,
GEORGE NAGLE.
Trustees..
DESCRIPTION.
Scientific examinations, which have been made only within the
last three or four years, to ascertain the quality and extent of the
minerals in the district of country bordering upon the South-west
shore of Lake Superior, have principally been confined to that por-
tion lying between Keweenaw Point and Montreal River. Be-
searches were especially drawn to this quarter in consequence of
the unparalleled abundance of native copper ores in most of their
varieties, and other palpable indications of veins below, being found
upon the surface, or observed along the sides of ravines formed
by the streams falling into the Lake. Owing to these remarkable ap-
pearances the existence of copper here has been known to all travel-
lers who have visited this region, from the earliest discoveries before
the revolutionary war.
Applications were made to the government for permission to mine
here as early as 1808, but were refused on account of the the remote-
ness of the mineral region from settlements in the North-west, and the
country being still in possession of the aborigines. Recently, the
Indian title having been purchased, permits have been issued to ap-
plicants, who have made locations, and many of them have obtained
leases from the government, under which several companies have been
organized and have commenced, or are preparing to commence the
business of searching for mineral deposites and mining.
It is not necessary to speak of the enormous rock of native copper
found upon the Ontonagon and removed to Washington a few months
ago. It being the largest specimen ever before discovered, the news-
papers have familiarized all with descriptions of it. During the pres-
ent fall a mass of the same metal was forwarded to New Haven, weigh-
ing over 1600 pounds, and which was found near the Montreal river.
From a report made to the Senate of the United States, by Gen.
Stockton, superintendant of the mineral lands on Lake Superior, and
his assistants, read in Senate March 19, 1845, the following extracts
are made, giving facts and observations officially communicated by
disinterested government agents:
"It has now become clearly settled that the mineral lands on Lake
Superior contain copper, lead, and other ores sufficient in quantity
and richness to justify the investment of a large amount of capital,
and furnish an ample revenue to government. This will be estab-
lished by the reports of my assistants who were specially charged!
with the actual duties of exploration." See Sen. Doc. No. 175.
Page 3.
5
On the same page is also given the analysis of a specimen of ore
taken from a vain opened near Fort Wilkins, made by Doctor McClin-
to k, assayer of the United States Mint at Philadelphia.
s ates the result:
"100 parts of ore contains of-
"Silex
"Metalic Copper
"Oxygen
“Carbonic Acid, &c.
700
70.00
17 50
550
He thus
"The mass of the ore is a peroxide of copper, producing a rich blue
colour with acqua ammonia, which the pretoxide fails to do. The
blue carbonate of copper constitutes but a small portion of the speci-
men, and seems to dip into its interior.'
*
**
*
*** *
*
"I send
you the
pure metalic copper precipitated from a solution
of 50 grains, parts of the ore: it weighs 35 grains parts, and is there-
fore equal to 70 parts in 100. The absence of iron, sulpher &c.,
adds greatly to the value of the ore, by rendering the smelting much
easier, and insuring a better article when smelted." Dated Feb. 4,
1845.
"The entire distance from the Ontonagon to the Montreal, the
mineral veins are formed, frequently presenting rich surface appear-
ances; but more time is required to speak more fully of this region.
The veins generally have a greater length, (as far as could be ascer-
tained,) and appear better in the conglomerates and red sand rocks
than those noticed further to the east; and I have no doubt but this
will be found to be a valuable section of the mineral country." Same
Senate Document p. 5.
"I would here remark that the Indians of the Old Gardens, and of
the Ontonagon and the Ance, all affirm in the most positive manner,
that there is a copper rock, full ten feet square, between the lake of
the Old Gardens and the Trout lake. I purchased specimens from the
Old Garden Indians of this reported rock. They were cut out with
a tomahawk, evidently with much labour. From the character of
these, I am led to believe that it is similar to the rocks I found on the
Menominie. I have no doubt as to the existence of a very large rock,
and, if not pure copper, that it is richly impregnated with large and
small pieces of the native metal. Evidently it has been an object of
worship with these Indians; and no doubt summary punishment
would be inflicted on any of the tribe who would be rash enough to
betray it to a white man. They will keep the exact location a secret
among themselves, till the temptation of handsome presents to all
shall overcome their lingering veneration for their ancient Manitou.
Serious difficulties were near arising, from the few specimens sold to
me." Pages 12. 13.
"In going and returning to the agency near Fort Wilkins, I noted,
as far as the limited facilities afforded me permitted, the courses of the
different bays and points of land along the shore, together with the gen-
5
eral features and mineral character of the country. At many places
on and near the coast, I procured specimens of copper and copper
ore-giving the strongest indications of the whole country, from Ke-
weenaw point westward, abounding in valuable minerals. At Grand
Marais,' which lies between Agate and Eagle harbors, and about 20
miles from the extremety of the point, I saw several large and pure
specimens of native copper, weighing 10 and 15 pounds, found at
that place.
At Eagle harbour, distinct veins of the metal in thin
sheets were also noticed: and at Eagle river I visited the vein of vir-
gin silver and copper which had been lately opened. This vein ap-
pears to be about 6 feet wide and was traced some distance upon the
surface. In blasting, it was found to become richer the deeper it was
penetrated, and presents a most beautiful appearance, the rock or
vein stone being studded with lumps and minute particles of virgin
silver and native copper.' Page 16.
$6
Speaking of the district west of the Ontonagon, the report says:
Many strong indications of mineral were noticed along this section
of country, both near the shore and some miles inland. Veins of
the grey sulphuret and carbonates of copper, of some extent, were
discovered open upon the streams and rivulets running into the lake,
and I have no doubt but that this district will be found to contain rich
metaliferous beds of ores." Page 17.
"No doubt is now entertained of the superior richness of the ores,
and their abundant quantities, upon the shores of this lake; several
tons of the black oxide and green carbonate have been raised at cop-
per harbour, and also of the vein of silver and copper at Eagle river."
Page 21.
"At the Sault de Ste. Marie, great facilities are offered for the erec-
tion of furnaces and the reduction of ores, the water power being equal
to any found in the country, and where vessels have perfect access
to, can land coal and other necessaries, and return with the metal to a
market. The crystalized carbonate of lime is found in many places
upon the lake, and, being an excellent flux, will aid the process of
smelting; and timber for charcoal is in sufficient quantities all along
its borders." Page 21.
"When it is considered what an immense amount of capital has
been expended, (hundreds of thousands of pounds sterling,) in sink-
ing shafts, exploring and making discoveries in England, and the
average yield of the ores not being over eight per cent., and is found
profitable raising it from a depth of 1,600 feet, it will be seen at once,
from what has already been discovered on Lake Superior, and the
small amount expended or required, comparatively, that this is one of
the most valuable mineral regions in the world, for the production of
silver, copper and other metals." Page 22.
These reports made to the U. S. Senate by officers and agents of
the general government appointed for the purpose, supply an evidence
6
so conclusive and indisputable as to verify fully all prior representa-
tions concerning the inappreciable value of this extensive mineral dis-
trict. From the remarkable and very interesting character of the re-
gion, it has been visited and explored by agents of companies, and
several scientific gentlemen of well known veracity, whose observa-
tions have been communicated to the public through various channels.
As this kind of authority in relation to what has been done, and
what is now doing in that quarter, is the very best that can be
desired, further extracts are made from such publications as are at
hand, beginning with a pamphlet issued from Boston on the 23d of
August last, by the "St. Croix and Lake Superior Mineral Com-
pany," of which the Hon. Rufus Choat, Hon. Robert Rantoul Jr.
and Hon. Caleb Cushing are the trustees:
"The attention of the public has been, within the last two years,
directed to the consideration of the value, the extraordinary value, of
the mineral region, which commencing at Keweenaw point, on the
southern shore of Lake Superior, extends even to the Mississippi
river, in Wisconsin Territory. Explorations have been made by en
terprising and capable miners, and ores of various value, and differ-
ent degrees of purity, have been analyzed and smelted. Three of the
most distinguished Professors of geological and minerological science,
Drs. Jackson, Houghton and Shepherd, have pronounced the ores of
this region superior in value to all hitherto elsewhere discovered."
"Sometime in the latter part of the fall of 1843, or early in the
succeeding winter, a knowledge of the vast and concealed resources
of this region, having been conveyed to persons high in authority at
Washington, through their influence, and with the co-operation of
certain influential and enterprising citizens of the west, a company
was formed to explore the country on and near the shores of the lake,
and to dig its ore, if found as precious as report had made it. This
company, now well known as the "Lake Superior Company," has
met with unimagined success. The ore, which its miners have
turned to the light, is both superior in quality, and of more abundant
quantity, than any had dared to hope. Though but few months have
passed since a shaft was sunk, already upwards of 600 tons of ore
have been dug out, which are now ready for transportation: the nett
value of a ton delivered at Boston, is $115. The assessments to
this time, laid upon the stock of the company, have amounted to
$35 per share, upon eight hundred assessable shares of the company.
Therefore the whole amount raised is 28,000, to be repaid to share-
holders by the sale of 600 tons of ore, at $115 per ton, amounting to
$69,000. Is it matter, then, of surprise, that the shares of this com-
pany should readily command, in the market, $500 each ?
"Since this discovery of wealth, in the regions to which we refer,
has been made, our attention has been engaged with an examination
of the copper mines and copper trade of England. From the most
al
authentic sources, Parlimentary reports, and official publications, -
we have derived most important information. It is found, on peru
sal of such authorities, that the mines of Cornwall, of Ireland, and
of Great Britian generally, average from six to twelve per cent. cop-
per; the remainder is alloy and worthless. And yet the profit on
the working of such mines as these is extraordinary. The Cornish
mines have been worked for a longer period, and with more system-
atic effort than the rest: and from their operation, therefore, may be
selected evidence of how much profit can be realized from such in-
vestments. The Tressarean Company has but ninety-six shares,
upon which has been paid but £10 each. The stock of the company
sells easily for £280 per share. But the profits of the Wheal Ma-
ria' Company would be too extravagant to be credited, did not the
report emanate from the highest authority. It appears that the capi-
tal stock of this company is divided into 124 shares; that on each
share but £1 has been paid; and that the shares have been sold, and
are now selling, at the enormous sum of £500! This seems the
very romance of speculation.
•
"The ores of the St. Croix and Lake Superior have been proved,
by the analysis of the distinguished chemist already mentioned, to
contain from 40 to 70 per cent. of copper and silver. If English
mining, then, is profitable, where 14 per cent. of copper is the max-
inum their mines have been known to produce, should not ours prove
so, with a 'far greater proportion of the precious metals?" Pages
1, 2, 3.
"The great and well deserved success, that has attended the oper-
ations of the before mentioned "Lake Superior Company," and a
consideration of facts herein alluded to, as well as of others not now
to be commented upon, have aroused the attention, and enlisted the
energies of some of the greatest capitalists, and most distinguished
men of New England, who, both on public and private considera-
tions, —from motives of personal and national interest, have re-
cently embarked in enterprises, instituted and to be carried on, for the
prosecution of mineral operations. Two companies, already of much
note, have been organized for the purpose; one of which confines
its operations to the shores of Lake Superior; the other, operating
on Lake Superior, extends its labors to the St. Croix, the western ter-
minus of the mineral range. The trustees of the first, known as the
'Chippewa Copper Mining Company,' are:- the Hon. Edward Cur-
tis, of New York; Hon. Joseph Bell, and Francis B. Crowninshield,
Esq., of Boston." Pages 4, 5.
The following extracts are taken from a pamphlet containing a
report to the stockholders of the " Lake Superior Copper Company,
made by the Board of Trustees, of which the Hon. David Henshaw,
late Secretary of the Navy, is President, dated Boston, October 6,
1845; and notes and descriptions furnished by Professor C. T. Jack-
son, of Boston, who visited the region in the summers cf 1814-'5.
:
8
No man in the United States stands higher as a geologist and miner
alogist than Dr. Jackson. The principal operations of this company,
are on a peninsula, marked upon the maps, as Keweenaw point,-
they have sunk three shafts, one 75 feet deep, one 30 feet, and the
other 20 feet.
“Dr. Jackson has made general examinations of the veins and
shafts. He traced the vein described last year to where it crosses the
river about 90 feet below shaft No. 1, where the rock is found to be
rich in silver, and at which point miners are now at work drifting up
towards the shaft."
"From past experience, it is
safe to estimate that each miner will raise, on an average, half a ton of
ore per day.'
* * * * *
* * * *
"That the mineral is rich, that we have an inexhaustible supply of
it, that it can be raised at a cheap rate, and transported at a small cost,
may be considered as well established facts." Page 8.
Very little of our location having yet been examined, we have
every reason to expect that we may find other veins as valuable as
those already discovered." Page 9.
"Analysis of the rock containining red oxide of copper, native
copper, and native silver from a vein on Eagle river.
"(
Specimen from the 30 feet shaft about 4 feet from the bottom, in
the rotten rock. A piece of the rock was taken for analysis weigh-
ing 749.5 grains. On pounding it in a mortar, and sifting it, 175
grains of metal was separated in lumps and plates. The metal con-
sisted of copper and particles of silver. The sifted rock, when ana-
lyzed, was found to contain 22.6 per cent. of red oxide of copper,
and 6 per cent. of metalic copper, with a little silver and antimony.
Another sample of this same powdered rock was assayed for copper
and silver, and yielded 21.5 per cent. of copper and silver. The
silver separated amounted to 0.05 per cent. It was united with anti-
mony, which exists in small proportions in the ore, in small shining
scales. A portion of the 175 grains of solid metalic copper contain-
ing silver was assayed, and yielded 1.5 per cent. of silver, and 98.5
per cent. of copper.
- 6 30
"The value of 39 4-10 lbs, of copper, at 16 cts. is
"The value of 155-100 lbs. of silver at $20 per lb. (aver'd)31 00
$37 30
"Which is the value of the contents of 100 lbs. of the ore.
Respectfully, Your Obt. Serv't,
C. T. JACKSON,
"To the Trustees of the Lake Superior Copper Company." Page 9.
Dr. Jackson in a note to Mr. Henshaw, says :--
"You are well aware, from verbal communications, that my opinion
respecting the value of the company's mines is unaltered by the ex-
plorations of this summer, and that I feel quite confident the ore will
9
not be exhausted during the present centuary. The relative propor-
tions of copper and silver in the mine may and do vary, yet I think
the general average of the metals raised will not differ much from
what was determined by my experiments of last year. Some is
much richer, other lots poorer." Page 9.
In Silliman's Journal for July, 1845, is an article on the cop-
per and silver of Lake Superior, by Professor Jackson, which
contains a vast deal of information in relation to the geology of that
region. It is there stated that among the accidental ingredients in
the conglomorate rock, are the green hydrous silicate of copper,
which yields from 25 to 30 per cent of copper; and the brown and
black silicious oxides, which yield, from 50 to 70 per cent of cop-
per. That
Native copper is disseminated in the trap rocks and in most of
the veins of other minerals found near it; but it is far more abundant
in the Amydaloid and not unfrequently fills the cavities in that rock.'
"The ore, if it may be so called consists of an intimate mixture of
copper and silicia and an alloy of these metals in an amygdaloydal
trap rock, the cavities in it being filled with metalic globules and fine
particles, being thickly mixed with the rock, so as to constitute from
10 to 30 per cent. The crevices and veins in the rock are also filled
with thin sheets of an alloy of copper and silver, and occasional lumps
of the metals are found of considerable magnitude."
Dr. Jackson gives an analysis and assay of copper and silver ore
from a mine on Eagle river, which he made at the works of the Lake
Superior Company; He says: "In order to discover the real work-
ing value of an ore of this kind, it became necessary to make a solu-
tion of a fair average lot of the ore, of a quality such as could be de-
pended upon as a regular produce of mining operations. I therefore
blasted off specimens from the whole width of the vein and rejected
the sheets and loose lumps of metal found in the crevices; took fifty
pounds of the rock containing a pretty uniform aud fair mixture of
the metals for analysis."
The result of this analysis stated as the amount of metal in fifty
pounds of rock
17 lbs. 9 oz.
"The value of one ton of rock is :-
Silver, 4lbs. 5 oz. 364) grs.
Copper 263 lbs.
$87 25
42 10
$129 35
"It is to be observed that the large sheets of copper which occa-
sionally occur in the crevices are not to be considered in this amount;
and since they probably will be found not unfrequently in the mine,
they will go to augment the value of its produce."
In the center of this rich mineral region, on the southern shore of
Lake Superior, east of Carp river, a tract of land containing nine
square miles, or 5760 acres, has been selected by a person who has
10
been well acquainted with the country and its localities for more than
30 years; and a lease for it has been obtained from the United States
under the act of Congress in relation to these mineral lands.
The persons obtaining this lease, the better to develope and bring
out the vast treasures contained in this rich body of lands, and to pros-
ecute the business of mining, have framed articles of association, and
conveyed their title to five trustees, to be held for the use and benefit
of those who are and may hereafter become stockholders in the com-
pany. These trustees are General M. DOUSMAN, of Mackinaw, ex-
Gov. DAVID R. PORTER, HON. ALEXANDER RAMSEY, Hon. JOSEPH
B. ANTHONY and GEORGE NAGLE, Esq. of Pennsylvania. The name
of the association is the " PENNSYLVANIA AND LAKE SUPERIOR Cor-
PER COMPANY."
This property is divided into 2000 shares, which are valued at
fifty dollars; each share representing about three acres of land. Thir-
teen hundred and thirty four of these shares, to be liable to an assess-
ment to pay such expenses as may be necessary in the business of
the company; not however to exceed ten dollars per share, except
with the consent of two thirds in interest of the shareholders.
General Douseman, the first named of the Trustees, now residing
at Mackinaw in the vicinity of this mineral region, commenced the
fur trade more than forty yenrs ago; and was for several years a
partner of John Jacob Astor in that business. He is intimately ac-
quainted with all this mineral country, having, as he states in a late
letter, in connection with two other individuals, explored it, ascer-
tained the existence and localities of valuable minerals, and applied
to the general government for permits for mining, more than thirty
years ago. These were refused by government as the Indian title
had not then been compromised. He is one of the original proprie-
tors of these lands, and his intimate knowledge of that country was
not only invaluable in making a judicious selection of the location,
but it is expected that his great experience, connected with his resi-
dence there, with vessels, warehouses and other resources, will in a
still greater degree facilitate and render comparatively easy and sim-
ple, the future operations of the company. He expresses great con-
fidence in the enterprize. and a perfect willingness, although advanced
in years, to lend his aid in carrying it on.
An agent of the proprietors has spent some months of the past sea-
son in exploring the lands. He has discovered several veins of ore
and brought from thence a number of rich and beautiful specimens.
A full and specific report of his examinations, is expected to be made
to the trustees at an early day.
It is contemplated to have a thorough examination made early in the
next season, by Professor McCulloh, late of Jefferson College Pa;
preparatory to an immediate commencement of the operations of
mining and smelting the ore, the most expeditious mode of doing
which, has been clearly tested for those who shall hereafter work, by
11
an agent of the United States Governmeut Capt. George W.
Hughes, who, for the purpose of obtaining information, visited the
mines in Europe, and made a full report of his observations to the
Secretary of War, which was published by order of the United
States Senate.
In the articles of association of the "Pemnsylvania and Lake Su-
perior Copper Company," it is provided that no shareholder shall be
liable to pay any debt or perform any contract, except as therein pro-
vided, by assessment on the shares of the Company.
The Trustees of the Company, hold in trust for the benefit of the
two thousand shareholders, a regular transfer of nine square miles of
mineral lands, on the southern shore of Lake Superior, known as
No. 41, made in the name of RICHARD ADAMS. Copper in a pure
state has been discovered on this location, and it is confidently be-
leived, that a thorough exploration of the district, will develope re-
sources equal to any mining district in the Lake Superior country.
It is the intention of the Company, to commence mining opera-
tions on an efficient and extended scale early in the ensuing spring.
12
ARTICLES OF ASSOCIATION
OF THE
PENNSYLVANIA & LAKE SUPERIOR COPPER COMPANY.
ARTICLE 1. This Association shall be called the
"PENNSYLVANIA AND LAKE SUPERIOR COPPER COM-
PANY."
ART. 2. The property of the Company shall be di-
vided into two thousand shares, each of which, share
shall entitle the proprietor thereof to the undivided
two thousandth part of said property, or any property
hereafter acquired by said Company.
ART. 3. Six hundred and sixty-six, shares of the cap-
ital stock of said Company, numbering from one to six
hundred and sixty-six both inclusive, shall be exempt
from assessment, and certificates thereof shall be issued
by the Trustees to such persons as the deed of trust re-
quires.
ART. 4. Thirteen hundred and thirty four shares of
the capital stock, numbering from six hundred and
sixty-seven to two thousand, both inclusive, shall be
liable to an assessment of ten dollars per share, not,
however more than two dollars at any one assessment,
and to no more, except with the consent of two-thirds,
in interest, of the shaie holders.
ART. 5. Thirty days notice of any assessment shall
be given, personally, or by written or printed notice
by mail, signed by the Secretary of the Company, to
every share holder who may not be present at any
meeting of said Company, called for the purpose of
making an assessment.
13
ART. 6. Neglect or refusal to pay any assessment
after notice as above provided, for the space of thirty
days, shall subject the delinquent or delinquents to a
forfeiture of his or their stock, which forfeiture, howe-
ver may be remitted by a majority in interest of the
shareholders.
ART. 7. No shareholder shall be liable to pay any
debt, or be bound to perform any part of any contract
made by the Company or its agents, for the payment
of
any money, or any thing, except as heretofore pro-
vided for by the mode of assessment.
ART. 8. Any stockholder can exempt himself from
the payment of any assessment, by the relinquishment
and surrender of his stock and certificates, and the
registering of such surrender on the books of the Com-
pany.
ART. 9. Shares in this association may be trans-
ferred by the holder thereof or by his personal repre-
sentatives by endorsement, and on the registering of
such transfer on the books of the Company, the former
share holders shall be released from all liability on ac-
count of said share or shares.
ART. 10. The trustees or a majority of them, shall
have the entire control and management of all the
property, effects and affairs of the Company.
They may appoint a Treasurer and Secretary-
employ agents to superintend mining operations and
for other purposes, and make contracts necessary to
the prosecution of the object for which the Company
is organized. Provided always, they incur no debt
which may not be discharged by the funds at the time
in the treasury.
They shall have the power to collect assessments
upon the thirteen hundred and thirty-four shares of the
stock as herein provided for; and also, whatsoever
14
other assessments may hereafter be laid by a vote of
two thirds in interest of the shareholders.
They may from time to time declare and
dends of profits to the several shareholders.
pay divi-
They shall render an account of their proceedings
and a report on the financial and other affairs of the
Company at the annual meeting of said Company
which shall be held on the first Monday of May, A.
D. 1846, and on the first Monday of May in each and
every year thereafter; or whenever required by a ma-
jority in interest of the shareholders.
ART. 11. They may digest and publish a code of bye
laws, for the better management of the transactions of
the affairs of the Company: shall have full power over
the disbursement of all monies in the treasury: and in
general, authority to transact all matters in relation to
the interests of the Company, so that they do nothing
inconsistent with the provisions of these articles.
Two thirds in interest of the shareholders, shall have
power at any time to remove any or either of the trus-
tees and upon such removal, said trustee shall with-
in ten days thereafter, execute such releases and con-
veyances as may be necessary to invest his co-trustees
with all his interest and power.
ART. 12. The first trustees of said Company shall
be the Hon. David R. Porter, Hon. Alexander Ram-
sey, Hon. Joseph B. Anthony, Gen. Michael Dousman
and George Nagle, Esq., whose term of office shall
continue till the annual meeting in May next, unless
by resignation or otherwise a vacancy should occur.
ART. 13. Ten days notice must be given by order
of the Trustees personally, or, as provided for in arti-
cle 5th, to each shareholder, of the time of any meeting
of the Company.
15
ART. 14. Two thirds in interest of the sharehol-
ders, may, at any regularly called meeting of the Com-
pany make any alteration of the foregoing articles:
and a majority in interest of the shareholders shall
have power at any time, [on the refusal of the Trus-
tees] to call a meeting of the Company.
ART.15. At the first regular meeting of the trustees
they, or a majority of their number present, shall ap-
point a President and Secretary of said Company,
whose duty it shall be to sign all certificates of stock
issued by the board of Trustees, and keep a regular
and true account of the proceedings of said Company.
谁
​25.
1
COLUMBIAN NATURAL CLASP NO. 3N.
PAT. 1,290,0.3 PAT. 1,533,048
THE UNITED STATES ENVELOPE CO. SPRINGFIELD, MASS.
62 X 92

MARRÓL, HA BAUMEIS
COLUMBIAN NATURAL CLASP NO. 3N
PAT. 1,593,048
FAT. 1,290,003
THE UNITED STATES ENVELOPE CO. SPRINGFIELD, MASS.
62 X 912


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