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And because charters of incorporation are of the nature of contracts, they cannot be altered or varied but by consent of the original parties. If a charter be granted by the king, it may be altered by a new charter granted by the king, and accepted by the corporators. But if the first charter be granted by Parliament, the consent of Parliament must be obtained to any alteration. In King v.
It "created" the United States Centennial Commission, and it directed the President, as soon as the private corporators should have perfected their work, to address foreign nations, through their diplomatic representatives and our own, in its behalf.
But that the legislature can repeal statutes creating private corporations, or confirming to them property already acquired under the faith of previous laws, and by such repeal can vest the property of such corporations exclusively in the State, or dispose of the same to such purposes as they please, without the consent or default of the corporators, we are not prepared to admit; and we think ourselves standing upon the principles of natural justice, upon the fundamental laws of every free government, upon the spirit and letter of the Constitution of the United States, and upon the decisions of most respectable judicial tribunals, in resisting such a doctrine."
The corporators named in the second colony were Thomas Hankam, Raleigh Gilbert, William Parker, and George Popham, representing Bristol, Exeter, and Plymouth, and the west counties, who were authorized to make a settlement anywhere between the 38th and 48th degrees of latitude.
It is also to be considered, that the president and professors of this college have rights to be affected by these acts. Their interest is similar to that of fellows in the English colleges; because they derive their living, wholly or in part, from the founders' bounty. The president is one of the trustees or corporators.
He said: "The identical question came up in my State the question whether the negro was a citizen, and whether he possessed political power in that State and it was there decided that he was not one of the original corporators, that he was not one of the freemen who originally possessed political power, and that they had never, by any enactment or by any act of theirs, admitted him into a participation of that power, except so far as to tax him for the support of Government.
Make him one of those poor hard working unsalaried corporators and let him do every body good with those millions and go hungry himself! I will try to exert a little influence in favor of the bill." Arrived at home, Mr. Trollop sat down and thought it all over something after this fashion: it is about the shape it might have taken if he had spoken it aloud.
It is also to be considered, that the president and professors of this college have rights to be affected by these acts. Their interest is similar to that of fellows in the English colleges; because they derive their living, wholly or in part, from the founders' bounty. The president is one of the trustees or corporators.
The stock, however, was not fully taken up, and the project fell through. Of the corporators, Mr. Potter and Mr. Smith still survive. Below is a copy of the act: An Act to incorporate the Groton Hotel Company. Be it enacted by the Senate and House of Representatives, in General Court assembled, and by the authority of the same, as follows:
The corporators at first kept the whole matter totally secret except from a few particular friends who were as a very great favor allowed to buy stock for cash. A "compromise" was made with the owner of the land, largely to his advantage. When things had thus been set properly at work, specimens of coal were publicly exhibited at Monterey.
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