of Directors may be filled by the remainder of
them for the residue of the term, and if an elec-
tion be not held on the day hereby appointed, it
shall be lawful on any other day within three
months thereafter to hold an election of Directors
as the by-laws may provide.

Objects of ill
corporation.

Sec. 4. And be it enacted, That the objects for
which said Company is incorporated and which is
hereby authorized to effect, are the improvements
in such manner as shall be conformable to the
laws of this State, and not contrary to or incon-
sistent with any rights or privileges of Any citi-
zen or citizens of this State, or of the United
States, of any lands or property which shall be-
long to said Company, by inviting, encouraging,
aiding and fostering immigration, into and settle-
ment of wild and uncultivated lands in Allegany
county, by the development of their Agricultural,
Mineral or Manufacturing capabilities and re-
sources; and by donating, leasing, renting, soiling
on conditions or otherwise of any of said lands
and improvements for said purposes, to be used
and enjoyed by any settler on such lands or other
person engaged in carrying on lawful trade, busi-
ness or occupation.

Stock liable
for debts of the
Company.

Sec. 5. And be it enacted, That the shares of
stock of the said Company shall he deemed and
considered personal estate, and all the joint stock,
property, funds and effects of said Company, shall
be answerable for all the contracts made or autho-
rized by or for the said Company, and for all just
claims against the same; but none of the Stock-
holders shall be liable in person or property for
any contracts of or claims against the said Corpo-
ration, and the service of legal process on the Pre-
sident, or any of the Directors shall be a sufficient
service on the Corporation.

Authority to
appoint Offi-
cers, &c.

Sec. 6. And be it enacted. That the Directors of
said Company, with or without the President,
when met as a Board, shall have full power to ap-
point and employ, and in their discretion to re-
move from office, and dismiss all such officers,
clerks and agents whatsoever, as they shall deem
necessary to attend to and transact, or execute the
affairs and business of the Company, fix their
compensation, and require security, if deemed ne-