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LAWS OF MISSOURI

RELATING TO

PRIVATE CORPORATIONS,

OTHER THAN RAILROAD AND INSURANCE.

CONTAINING INSTRUCTIONS FOR INCORPORATION, CONDUCT OF COR.
PORATE BUSINESS, TOGETHER

WITH FORMS.

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By M. F. WATTS.

Revised and Annotated BY W. W. HERRON.

ST. LOUIS:

THE F. H. THOMAS LAW BOOK CO.

1903.

03

93740
WAT

Tx W3-13m

Entered according to Act of Congress in the year 1890, by
M. F. WATTS,
In the office of the Librarian of Congress, at Washington.

Entered according to Act of Congress in the year 1903. by
M. F. WATTS,
In the office of the Librarian of Congress, at Washington.

Rec. Feb.

25, 1904.

Press of
Nixon-Jones Printing Co.
St. Louis, Mo.

PREFACE.

The observer of the growth of the business interests of the country can find no better exponent of the commercial activity and energy of any State than in the number of its corporations and joint-stock companies. The reasons for this are plain. The successful conduct of a business enterprise of any magnitude now requires the investment of a large amount of capital; if this is done through the means of a copartnership it requires the actual presence in the firm and active participation in the conduct of its business of so many persons, all having equal power and right of control, that there is necessarily want of harmony, which not only delays, but sometimes prevents action, and embarrasses and hampers the firm in the proper management of its business. One hesitates to become a partner in a firm, no matter how small the amount to be invested, if his power is no greater than that of others having much less interest, and if one unfortunate venture may lose for him not only what he has placed in the partnership enterprise, but imperil his whole fortune. On the other hand, to parties desirous of continuing a business already established or engaging in a mercantile venture of almost any nature, a corporate charter offers numerous advantages. To many the feature most attractive is that of limited liability. If the shares of the company are fully paid up, and the business proves

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