CAPITAL STOCK--INCREASE.
Mr. Hinton's bill [H. R. 254], amending Section 1 of an act to incorporate Manufacturing and Mining Companies for mechanical and manufacturing purposes [may increase stock], was read the third time.
Mr. CARTER--The objectof the bill is to amend the first section of the law in regard to the organization of manufacturing and mining corporations, so that such Companies may issue stock in sums of not over $100 per share instead of $50 per share. The bill also legalizes the action of corporations where they have, under a misapprehension of the law, heretofore issued stock in shares of $100.
The bill passed by yeas, 61; nays, 22.
