JOHN WALTER SMITH, ESQ., GOVERNOR.

said company hereby incorporated, shall be and they are
hereby constituted a body politic and corporate by the name
and style of "The Armor-Bowen Company," and by that
name shall have perpetual succession, and be capable in law
to acquire and hold and in anywise dispose of property, and
to sue and be sued, plead and be impleaded in any court
whatever; to make and use a common seal, and to alter the
same at pleasure; and generally to do everything proper to
carry into effect the provisions of this Act, or promote the
objects and designs of the company hereby incorporated.

1095

SEC. 2. And be it enacted, That the capital stock of said
company shall consist of twenty shares at one hundred dol-
lars each, being two thousand dollars; and the incorporators,
or a majority of them, shall have power to open books for sub-
scription, when, and as they may deem expedient, and when
fifteen shares of said twenty shares have been subscribed, and
when 10 per cent, on said fifteen shares have been paid in,

Capital stock.

the stockholders may elect not less than three nor more than
five directors to serve until the ensuing annual election; and
afterwards elections shall be held annually, at which every
stockholder shall be entitled to one vote for every share of
stock held by him; and the directors so elected are hereby
authorized to have and exercise in the name and behalf of
said company all rights and privileges which are intended to
be hereby given; and they shall have the power to declare
such dividends of the profits of the said company as they may
deem proper; provided, that the directors shall at no time be
less than three or more than five in number.

Election of
directors.

Powers of.

SEC. 3. And be it enacted, That the said company shall
have power to act for the proprietors, editors or managers of
any newspapers for the purpo.se of soliciting and furnishing
advertising matter for said newspapers, and of conducting for
them any other departments of their business at such charges
as may be agreed upon; and to that end to make all necessary
contracts with advertisers for and in the name of said news-
papers; to make all necessary contracts with such newspapers
for the soliciting and furnishing of advertising matter, in
which contracts may be included agreements by this company
for guaranteeing prompt payments by said advertisers,
according to their contracts, together with such other details
as may be upon, and generally to do everything proper to
promote the aforesaid business.

Manner of
conducting

business.

SEC. 4. And be it further enacted, That the said corpora-
tion shall have power to pass all by-laws necessary to carry
out the purposes for which it is hereby created.

May pass
necessary
by-laws.